Honest Money & Central Banking
Years ago, the world banking community recognized that without a strong central banking corporation, America would be a strong, self-sufficient nation.
If the mischievous financial policy, which has its origin in North America, shall become endurated down to a fixture, then that Government will furnish its own money without cost.
It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world. The brains, and wealth of all countries will go to North America.
That country must be destroyed or it will destroy every monarchy on the globe.London Times Editorial
What IS “honest money?“
The term ‘honest money’ in this context, refers to money that has certain properties:
- Fungible – One piece is interchangeable with any other of the same type or denomination.
- Durable – A unit of money must be able to withstand repeated use.
- Portable – It must be easily carried and exchanged with other human beings.
- Uniform – All versions must have the same purchasing power (a quarter minted in Philadelphia must have the same purchasing power as a quarter minted in Denver).
- Acceptable – Everyone must be able to spend or accept the money for financial transactions.
- Divisible – Most denominations must be divisible into smaller units of value (“can you break a dollar for me?”).
- Limited in Supply – The supply of money in circulation must insure that purchasing power remains fairly constant (obviously, the money masters have not done this with the US dollar, which has lost the majority of its purchasing power).
- Intrinsic value – Money has value in and of itself, whereas mere currency has value only because government has decreed it (the term “fiat currency” refers to that decree).
Watch Mike Maloney explain the difference between currency and money; and why honest money is preferable to money that has value only because government pronounces it.
The American Dream
How Central Banking Ruined America, and Honest Money can Rescue Her.
This is one of the better explanations of Central Banking, and the takeover of our great nation by those who create currency out of thin air.