So I had this thought just now after reading a few post on our monetary system. Lets clear a few misconceptions up. Our money is not worthless. It actually has a value. If it did not, then how would you trade it for goods and services? The dollar IS backed by something, although its not backed by a single commodity such as gold or silver. Gold and silver are not the only things in the world with value. Your house has value does it not? It provides shelter. Food has real value. All of our recourses have value, because they have very real uses. However, the house only has value when someone takes the time and expends the energy to build it. The food only has value once its been harvested. The gold only has value once its been mined. The real value is labor, which requires energy. So to limit a currency to a single commodity would also mean limiting the flow of the currency. There is only so much gold out there, therefore there can only be so many gold certificates. (This is where a huge amount of trust falls on the banker who prints gold certificates, to ensure he does not print more than the quantity of gold). In order to put more money in circulation, someone must labor, and mine more gold. This creates a huge economic problem. The growth of the economy depends on cash flow. If only a 100 gold certificates exist in circulation, and these certificates are being traded for goods and services, eventually this cash will land in a bank volt, or under a bed mattress, or In someones back yard. This limits the cash flow. Should someone need a loan to start start a new business he Is restricted the amount of cash he can borrow because its all in circulation or In someone elses volt. And the one with the real value is the one with the volt of gold. The certificate Is merely redeemable in gold. This is a big reason why civilizations got off a gold standard in the first place. If the money must be backed by a commodity, why limit yourself to just one or two commodities? Why not any and all commodities? Of course the same problems arise with this method as well. There are only so many resources available at any given time. Thus the cash flow is again limited. In the system we have today, money is backed by the labor of the people. More accurately, the POTENTIAL to labor and create wealth. If I promise to give you a 100 apples once I harvest them, and we memorialize this agreement on paper, in the form of an IOU, does this promise not have value? Could you not trade that IOU, to transferring title to said apples to them? Sure you could. Thats what the dollar is. This is an elastic currency. It has no limiting factors. Each citizen with a birth certificate is pledged as collateral. ..well the potential for each citizen to create wealth, is pledged as collateral, for new money. The birth certificate is evidence of this potential energy or labor. Its also reasonable to assume, each person must labor to earn a living. So how do they value the labor of each citizen? Who knew how much Bill Gates was going to be worth? As I understand it, the overall GDP, vs the number of IRS participants loosely sets the value of each Certificate Bond. However this is not the sole source of our money supply. The dollar is backed by our energy, thus, it is our energy that creates new money. Every time you get a loan, this money is not lent to you from some creditor who has a volt of FRN. No its your signature and promises to repay, that creates this new money. The banks dont give you shit. They dont create shit. YOU DO. the people are the original creditors. Now to clear up a few other misconceptions. Each time you deposit a FRN, the bank fractionalizes it. They create 9 times the amount in the form of new loans with interest. This money creation is again AUTHORIZED by your signature (evidence of your existing energy). For each and every FRN printed, interest is tied, which must be repaied. If all the principle loans were repaid today, there would not be one single dollar in circulation and we would have not paid a dime on the interest. The difference between lawful money and legal tender is the ability or authorization for the banks to fractionalize the note. Today the inelastic lawful money is the same FRN as the elastic tender. So who is obligated to pay this interest? 12 usc 411 states the corporation known as the United States is obligated to pay the liabilities of each FRN in circulation. Their only commodity (source of energy) is the citizen subject to their rule. If this doesnt sound like slavery yet, your not paying attention. So in order to LEGALLY do this, they must provide a remedy. Found in 12 USC 411 is your remedy. Each dollar, legal tender, can be redeemed on demand for lawful money. Thats correct. The corporation who has sold your energy, is obligated for paying the liabilities they are responsible for creating. So Instead of being upset at the state of our money, learn to redeem your tender for lawful money. Learn to assign the liabilities of public debts to their rightful principle obligators, the United States. You were born Into a system where YOUR the original creditor. You create money. You create wealth. You can discharge debts. I think this system, when the mass comprehend how it works and how to exercise their remedies, is and far better system than a gold backed currency. I guess you could say your Independently wealthy!
Posted on: Mon, 07 Jul 2014 06:49:35 +0000
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