By the outbreak in the revolution in April 1775 the colonies started printing a new form of paper money to finance the war – it was called Continental Currency. ibid.
It doesn’t matter what backs your money; all that matters is who controls its quantity. ibid.
Congress finally agreed to give a group of bankers a monopoly on creating US money by loaning it to the government. ibid.
The National Debt is roughly the same as the national money supply. ibid.
An assassin tried to shoot President Jackson. ibid.
Jackson got us out of debt but twenty-five years later Abraham Lincoln would do even more: return to government-issued debt-free money. He called them greenbacks, the inspiration for the Emerald City of Oz. ibid.
1866-1876: two-thirds of America’s money had been called in by the bankers. ibid.
An 84% decline in just twenty years: 1866-1886. The people suffered terribly in a protracted severe depression. ibid.
Congress passed the Coinage Act of 1873 and the minting of silver dollars abruptly stopped. ibid.
Garfield understood the ability of the very wealthy to manipulate gold money ... President Garfield was assassinated. ibid.
William Jennings Bryan: the man who would become known as the Lion of the Free Silver Movement. ibid.
The Panic of 1893: it all started when European investors demanded payment only in gold. ibid.
People wanted silver money legalised again so they could escape the stranglehold the money-changers had on gold-backed money. ibid.
The presidential campaign of 1896 would see the explosive money issue dominate the election. ibid.
The [Swedish] debt-based bankers attacked the savings banks. ibid.
Iceland: the government privatised the savings banks, similar to the Swedish savings banks twenty years earlier. ibid.
When the crash came in 2008 the big Icelandic banks quickly failed. ibid.
93% of the people voted not to bail out the bankers. ibid.
Instead of creating bonds or debt the government could and should be creating dollars interest free. ibid.
Right now the banks have the power. ibid.
We can make this the new civil rights movement, the new human rights movement. ibid.
This system has got to go. ibid.
The vast majority of money is not created by the Mint; it is created in huge amounts every day by private corporations known as banks. Paul Grignon, Money as Debt I, 2006
Banks create the money they loan. ibid.
Privately created bank credit is legally convertible to government issued fiat currency. ibid.
Money is literally created as debt. New money is created whenever anyone takes a loan from the bank. ibid.
Banks loan money they do not have! ibid.
No loans = no money: which is what happened in the Great Depression. ibid.
Can this really go on for ever? Is not a collapse inevitable? ibid.
Government debt is a major component of the total debt, and servicing that debt takes a big chunk of our taxes. ibid.
Why create money as debt at all? ibid.
Is it a conspiracy? ibid.
The entire world economy now runs on a system of credit provided by banks. And when that credit system breaks down everyone suffers. Paul Grignon, Money as Debt II: Promises Unleashed
The account is a promise to pay, not the money itself. ibid.
The banking system functions as one bank. ibid.
Banks differ from counterfitters in that the banks are legally allowed to create new money, but only by certain rules of accounting. ibid.
Almost all the money in existence today is bank credit. ibid.
Virtually every dollar comes into existence as debt. ibid.
An obvious problem with our current financial system is that it rewards greed and corruption. Greed and corruption seem to be everywhere. Paul Grignon, Money as Debt III: Evolution Beyond Money
In our current bank credit as money system the principle amount of a bank loan is simply created from the borrower’s promise to pay back the principle plus the interest in money. ibid.
Flow is the real measure of economic activity. ibid.
The real value of the money that flows in our economy today is created by our promises of future productive work. ibid.
Almost all money is bank credit: debt money. ibid.
The Day of Reckoning can be pushed back but only by passing the debt to generations yet unborn. ibid.
Gold is inconvenient ... Why any single commodity? ... It makes the value of money exclusively dependent on the quantity of that one commodity. ibid.
We use national fiat currencies and bank promises. ibid.
Only the richest 10% come out ahead. ibid.
About 95% of all money is bank credit. ibid.
Money in reality is just an accounting of debt. ibid.
The bank assets lost were promises to pay legal tender the banks never had. ibid.
The bailout scam was the biggest daylight robbery in the history of the world. So far. ibid.
The basis of freedom is essentially the freedom to exchange. ibid.
This ever growing national debt expands the money supply when new money is created by the central bank to buy more government debt. ibid.
Witnessing government performance to date many people believe that returning the full power to create money to corrupt incompetent politicians will not only fail to solve our problems it would be the height of insanity. ibid.
Pure fiat money in a free market is an illusion. There is no such thing. ibid.
Digital coins could be passed from one owner to another, peer to peer. ibid.
The all-inclusive self-issued credit system. ibid.
Money created as money debt only works with perpetual growth of debt. ibid.
Money becomes money by acceptance. ibid.
Our money does not have to be in the form of loans to or from a bank. ibid.
Money as a single uniform commodity is the root of the problem. ibid.
Think about taking back of money power with self-issued credit. ibid.
They want the average family in debt because at some point they are going to own the average family. Andrew Materi, Inconvenient Death of the Working Class
There’s more debt than money available. The Money Fix, 2009
Where does the interest come from? ibid.
There’s more owed to banks than is in circulation. ibid.
Someone will always have to go bankrupt. ibid.
‘They are systematically crushed.’ ibid. male interviewee
Tim Woodman ... joined the ranks of those unemployed in the depression of the 1890s, a victim of the unwillingness of the eastern gold bugs to countenance an increase in the stock of money through the addition of silver. Hugh Rockoff, The Wizard of Oz as a Monetary Allegory
Baum is following history in suggesting that the movement was started first by the western farmers, was joined ... by the working man, and then, once it was well under way, was joined by Bryan. The roaring lion is a good choice for one of the greatest American orators. ibid.
Coxey was a greenbacker, and his ideas were simple: the federal government should build public works and pay for them by printing money. ibid.
It is not surprising that the layout of the Emerald Palace should reflect the numbers seven and three. The Crime of 73 was a crucial event in populist monetary history. ibid.
Every penny, every dollar, we have in circulation is created as an interest-bearing debt. Byron Dale, author Modern Money Secrets