Cyprus and the Case for Monetary Reform

Source: DayTradeShow.com
Date: 3/20/2013

SR 67 IMF Paper Supports Monetary Reform???

Source: bstill3
Date:  8/18/2012
by: Bill Still

Video Description
Here is the DONATE link:
https://www.paypal.com/cgi-bin/webscr?cmd=_donations&business=billstill3@...
A new IMF research paper supports monetary reform.

Editor's Note: Below I am including both the link to the recent IMF paper "The Chicago Plan Revisited" as well as the Irving Fisher book "100% Money and the Public Debt" mentioned in Bill Still's SR 67 update.

1. The Chicago Plan Revisited - IMF

2. Irving Fisher: 100% Money and the Public Debt

@JerryBrownGov please approve AB 750 a California state-owned bank could help solve your budget woes

Californians, please call up governor Jerry Brown for him to approve the study of a state-owned bank  in California (AB 750). It could cut your budget deficit in half, by allowing for the state to self-finance its own infrastructure projects at 0% interest. Loans to local banks or individuals could also be at low rates, plus it would be more stable than a private bank because all of California's money and tax receipts would be deposited in the state-owned bank to back loans. Think of it as a mini-Fed for your state, except that the shareholder essentially is the taxpayer. Every year the Fed must pay its private shareholders a 6 percent dividend, with the rest of the earnings being refunded to the U.S. Treasury. Currently North Dakota is the only state with its own state-owned bank (whose charter started back in 1918), and they consistently have budget surpluses and an extremely low rate of unemployment.  The financial success of N. Dakota is not just due to oil natural resources!  Rather than competing with local banks, the BND has actually worked together with local banks to create greater financial stability within the state.



Following are Governor Brown's contact details:

Governor Jerry Brown
c/o State Capitol, Suite 1173
Sacramento, CA 95814

Phone: (916) 445-2841
Fax: (916) 558-3160

Email: http://gov.ca.gov/m_contact.php

California May Launch Public Bank, Which Could Help Take the Power To Manipulate the System Away From the Insolvent Giant Banks

Source: Washington's Blog
Date: 9/16/2011

California Passes Bill to Study Public Bank

The California legislature has passed a bill to study public banking. If you don’t know what public banking is (North Dakota already has a public bank, which is helping to keep that state in the green) and why this issue is so important – read this and this for background.
This could take away the power of the giant, insolvent banks to manipulate the money system. See this and this.

Governor Brown Is On the Fence On Vetoing Or Signing … But He’s On the Fence

Ellen Brown – whose Public Banking Institute helped pass the bill – says that California governor Jerry Brown is considering vetoing the bill. Brown suggests that Californians call Governor Brown to urge him to sign the bill (AB750) into law:

Governor Jerry Brown
c/o State Capitol, Suite 1173
Sacramento, CA 95814

Phone: (916) 445-2841
Fax: (916) 558-3160

Email: http://gov.ca.gov/m_contact.php

[Editor's Note: Please see "California Legislature Passes Bill to Study State-owned Bank" by Ellen Brown for further details]

How to Fix America's Debt Problem: No More National Debt

Since its inception the United States has fought the banks for control of its own money supply. These banks were and are owned and run either directly or indirectly by powerful banking families such as the Rothschilds, who are estimated to have controlled half the world's wealth in the 19th century. The artifice used by the international money changers to monopolize America's money supply has been to get corrupt and/or naive politicians to help install a privately owned central bank, which is owned and controlled by the money changers themselves (rather than by the American people). President Andrew Jackson famously fought to get rid of The Second Bank of The United States which was a privately owned central bank taking after the Rothschild Bank of England model. President Jackson considered killing the (central) bank as his greatest achievement and had imprinted on his tombstone I Killed The Bank.

At the time of the American Civil War, President Abraham Lincoln needed a means of financing the conflict and discovered that foreign banks offered to lend the United States money only at a highly usurious 24% to 36% interest rate. Rather than accepting such onerous terms, Lincoln consulted with his friend from Chicago Colonel Edmund Dick Taylor who suggested that the U.S Treasury should print and issue its own (interest free) currency to pay for war debts. According to Taylor,

 "The government should create, issue and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers..... The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government's greatest creative opportunity. By the adoption of these principles, the long-felt want for a uniform medium will be satisfied. The taxpayers will be saved immense sums of interest, discounts and exchanges. The financing of all public enterprises, the maintenance of stable government and ordered progress, and the conduct of the Treasury will become matters of practical administration. The people can and will be furnished with a currency as safe as their own government. Money will cease to be the master and become the servant of humanity. Democracy will rise superior to the money power."

The United States Note issued by the U.S. Treasury was popularly called the "greenback" due to the green ink used to print the back of the notes, which was used to distinguish them from other notes in circulation. The greenback turned out to be a success largely because they were specified by law as legal tender, so that creditors were compelled to accept them even though they were not backed by gold, bank deposits, or government reserves, and bore no interest. One of the key features of the greenback is that it did not rely on debt (e.g. bonds) being issued first for the money to exist. The benefit of this is that taxpayers did not need to pay any interest to service the debt attached to the greenback, because there was none. The one big flaw is that the greenback was eventually exchanged at a discount (e.g. unfavorable rate) to gold due to currency debasement. Originally in 1862 there were only plans to create $150,000,000 worth of greenbacks with the passage of the First Legal Tender Act. In 1863 Congress passed the Second Legal Tender Act and Third Legal Tender Act which grew the greenback supply to $450,000,000. This would have been fine if they, for example, had retired some of the other money in circulation with greenbacks.

Abraham Lincoln, unlike Andrew Jackson, was a central banking advocate who liked the idea of a federally controlled fiat currency. Andrew Jackson was against central banks and federal control of the money supply in addition to being a "sound money" advocate.

Although Lincoln's greenback was an overall success (except for the debasement aspect), most in Congress wanted to retire the greenback and move towards a gold standard. Advocates of permanently remaking America's monetary system according to the greenback paradigm were in the minority and did not win out in the end. The banksters actually got the last laugh with the passage of the National Banking Act (in two parts), which Lincoln should have vetoed. The National Banking Act did have some good characteristics, but it essentially set the framework for the debt based currency system we use today. Interest bearing bonds are required to be issued before any currency can exist. Bonds are aptly named because ever since the passage of the National Banking Act we have been kept in debt bondage.

How do bonds keep us in bondage? I have extracted a short video segment from Bill Still's master work The Money Masters where Mr. Still explains the Federal Reserve's four step money creation process. Still also explains why our bond (debt) based currency is a scam that benefits the banksters at our expense.


Federal Reserve money creation process taken from "The Money Masters"



Following is Bill Still's latest advice via his YouTube channel on how to overcome the recent U.S. national debt crisis and whether or not he thinks we should increase the debt ceiling. You might be surprised at how straightforwards the solution is.


7/29/2011 SR SR 21 Debt Limit Debate 3

Important: Criticisms of printing debt free money in the image of Lincoln's greenback are answered.


7/25/2011 SR 20 - The Debt Ceiling Debate

The U.S. Treasury has the power already to issue debt free money in the form of coins. How re-issuing the United States Note or quarters could be a way out of the debt debacle, and free us from bankster bondage.



7/24/2011 SR 19 - U.S. Debt Limit

Congress is missing the point in the debt limit debate.


6/22/2011 Still Report #18: Iceland Ireland

Despite threats of food running out, Iceland stood up to the banksters. Remember that former U.S. Treasury Secretary Hank Paulson, Goldman Sachs alumnus, threatened that martial law would be declared if the banksters did not get their bailouts. They got their bailouts, of which only 800 billion or so was shown to the public. In reality another 16 trillion in secret bailout loans were sent to domestic and foreign banks.

Bill Still's latest book is titled "No More National Debt" and can be found at http://billstill.com amazon.com or the infowars.com store.

Resist the Brainwashing, Boom and Bust Cycles are NOT "Normal"

Karl Denninger of Market Ticker fame, has an excellent analysis for what is wrong/broken with debt-based interest bearing, and inflationary, monetary systems in general (such as ours and most of the other countries in the world which have the privately owned central bank model). Per Karl, if you target inflation at a level higher than 0%, you are guaranteed to get the boom/bust roller coaster.  Did you realize that the US Treasury has the power to issue non-debt backed currency?  The Treasury does this in small amounts but the vast majority of money requires a loan to be created in order for there to be money.  For almost every dollar printed is attached an interest payment we the American taxpayer must make to some bankster somewhere!  Why do we purposely pay the interest surcharge on our own money which the Constitution actually allows us to print ourselves other than to enrich the international banksters who set up this self-serving scheme?  An interview of Karl Denninger by Bill Still, award winning historian and documentary filmmaker shows Karl's view on the topic:

Interview with Karl Denninger by Bill Still

The FOMC made an astonishing statement yesterday (9/21/2010) that our inflation was actually too low and therefore they were more concerned about deflation than inflation.  Traders took this to be a signal that it would be full speed ahead with the printing presses and guess what direction the US dollar took in response?  Down.  Does the Federal Reserve really serve we the American people or some other interest/power?  Since the Federal Reserve's inception in 1913 we have had nothing but huge inflation, a devaluation of our dollar by almost 95 percent (per the US inflation Calculator site) and wild boom/bust cycles, not price stability, as is one of the Fed's mandates.  Once the boom cycle is over and the bubble deflates, ordinary middle classed people lose their assets which are bought up by robber barons or banksters for pennies on the dollar.  This is happening right now as it has historically.  Middle classed people are losing their jobs and homes to bank foreclosures and small business entrepreneurs are being forced out of business.   Meanwhile the multinational mega-corporations/monopolies are engaging in an M&A boom and consolidate their assets and power.  Indeed only the big multinationals with their huge cash hordes or international mega-banks can survive Obamanomics.  (Yeah that makes one question too, whose side President Obama on?!)

So how can this be fixed?  Following is an excellent documentary by Bill Still which goes over an entire history of our money system and ends with how we might go about fixing the beast.  The content of this video is better than the dumbed-down history I got in school, which was only comprised of useless dates, names and places and which taught wrote memorization or regurgitation of establishment propaganda only.

The Secret of Oz by Bill Still

Is it really a coincidence that North Dakota, which is the only state in the union to have a state owned bank which serves the interests of the people of that state, rather than serving private and/or shareholder interests as the Federal Reserve does (yes, the Fed was actually put in to place by a handful of powerful bankster families, who originally owned all of the private Federal Reserve shares, in order to get a monopoly on America's money supply, not for our benefit as is pretended) has a 1 billion dollar budget surplus and also has the lowest unemployment rate in the nation of 3.7% as of August 10, 2010?! [1,2,3,4,5]  I think not.  Note that I am not making an endorsement of public versus private ownership in all cases as obviously that is not the way to go but merely pointing out that who controls the money supply and for what purpose is the important thing.

After coming to the realization that we have been deceived and hoodwinked for a hundred years, I think it is still possible for us to save ourselves now if we can get the right people in to office to push forwards good ideas. Click here for how you can help or for more information.


Sources:
_______________________________________________________

1. What is North Dakota Doing Right? Rebecca Reisner, Bloomberg Businessweek
2. Web of Debt Ellen Brown
3. Get of of Pottersville:  The North Dakota Model for Capitalizing Community Banks  Ellen Brown, Huffington Post
4. The Growing Movement for Publicly Owned Banks Ellen Brown, Huffington Post
5. Job Losses in North Dakota?  Not in North Dakota.  A Stimulus Plan that Really Works  Ellen Brown, Huffington Post
6. Towards a Solution to the Debt Crisis in California: The State Could Walk Away and Create Its Own Credit Machine Ellen Brown, Huffington Post
7. The Secret of Oz Bill Still
8. The Still Report Bill Still
9. The Market Ticker Karl Denninger
10. The Market Ticker YouTube Channel Karl Denninger