PostHeaderIcon Answers From The Past

As I have written here before, thanks to the machinations of our Federal Reserved System, that private, for profit corporation that manipulates our money supply, the United States of America now uses a currency that is based solely on debt. Not on gold, silver and anything else of tangible value but on DEBT!

I suspect that, like me, some of you may have wondered why any sane organization or nation would choose to do such a thing. Well, I needed look no further than the book “An Inquiry into the Nature and Causes of the Wealth of Nations”, written in 1776 by Scottish social philosopher Adam Smith. The following is a quote taken directly from the book:

“… From the time of Charlemagne among the French and from that of William the Conqueror among the English, the proportion between the pound, the shilling, and the penny, seems to have been uniformly the same as at present, though the value of each has been very different; for in every country of the world, I believe, the avarice and injustice of princes and sovereign states, have by degrees diminished the real quantity of metal, which had been originally contained in their coins. The Roman as, in the latter ages of the republic, was reduced to the twenty-fourth part of its original value, and, instead of weighing a pound, came to weigh only half an ounce. The English pound and penny contain at present about a third only; the Scots pound and penny about a thirty-sixth; and the French pound and penny about a sixty-sixth part of their original value. By means of those operations, the princes and sovereign states which performed them were enabled, in appearance, to pay their debts and fulfil (sic) their engagements with a smaller quantity of silver than would otherwise have been requisite. It was indeed in appearance only; for their creditors were really defrauded of a part of what was due to them. All other debtors in the state were allowed the same privilege, and might pay with the same nominal sum of the new and debased coin whatever they had borrowed in the old. Such operations, therefore, HAVE ALWAYS PROVED FAVOURABLE TO THE DEBTOR AND RUINOUS TO THE CREDITOR (emphasis not in original), and have sometimes produced greater and more universal revolution in the fortunes of private persons, than could have been occasioned by a very great public calamity.”

Perhaps a close reading of the above might help us all better understand why the true masters of our nation (the financial cartel) will not allow our elected “representatives” to make any meaningful reduction in our debt. As you consider the implications, please keep in mind that our banks are NOT creditors. They operate on imaginary money that is created out of their own debt. The real creditors in our case are those of us who produce real wealth.

Think about it.

Troy L Robinson

3 Responses to “Answers From The Past”

  • ◄Dave► says:

    Yep, FRNs are like little green IOUs, except unlike the Silver Certificates of the past when we were on the gold standard, they are not a promise to pay anything. The ‘dollar’ is a unit of measure. When someone offers you a dollar the correct question is, “dollar of what?” Without naming the commodity, is akin to offering someone a quart for their lunch… a quart of what.

    The only reason we accept these worthless IOUs as money, is the reasonable assumption that one can turn around tomorrow and purchase a different product or service. The moment that confidence is lost, FRNs will become as worthless as Zimbabwe’s. ◄Dave►

    • Troy says:

      Another reason we accept these worthless IOUs as money, is that our federal masters have declared them “legal tender” meaning we MUST accept them, under penalty of law, “for all debts public and private”.


  • Daedalus says:

    Thanks to Nixon taking us of the gold standard and Reagan shifting Carters inflation to the national debt. It has been a wild ride, but the end is nigh.

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