A very important difference.
John Law did not have the power to contract the money supply.
That scheme has very little to do with modern central banking.
But really. Why are we not talking about what Pastor Emry wrote?
Keep fighting the good fight, typing on the internet. If you would like to put your money where your fingers are, given how worthless dollars are, I’ll pm you my paypal and you can send me all your dollars. I’ll take em.
The Mississippi Bubble was created with the use of Bank Notes, just like the United State’s current $124 trillion unfunded debt liability has been created with Bank Notes ___ Bank Notes which are used to fatten the fortunes of 12 privately owned banks, unconstitutionally given a monopoly over the issuance of our nation’s currency.
You still have not explained a major distinction between a “Dollar” and a “Federal Reserve Note”. Do you know what a “note” is in financial terms?
JWK
We are told the ”dollar” has lost its purchasing power over the years. But the truth is, Federal Reserve Notes have lost their purchasing power since their introduction as money, which are used by a notoriously evil banking scheme to plunder real material wealth created by America’s labor and industries
He is not going address that, and it’s funny as hell.
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John Law’s scheme is not how the central bank works.
Believe it or not, pointing to a three hundred year old failure and trying to draw a straight line to the modern world is not going to work very well.
One of the major worries in a currency is out of control inflation. John Law’s scheme was destined to go into an inflationary spiral because it lacked the ability to tighten the money supply. It could only expand.
The Fed has the power to do both.
Now… on to the debt.
That is Congress’s deal… not the Fed.
I am really baffled though why the issue of Pastor Ermy has been dropped. Even to the point of not even acknowledging it ever was brought up. The screed “Billions for bankers” which was brought here by you and there were objections given that I was attacking the messenger and not the addressing the message.
So how do you feel about Pastor Ermy’s solution to the current system by having the Government abolish private banks and issue all loans interest free?
He says …
Money, issued in such a way, would derive its value in exchange from the fact that it had come from the highest legal source in the nation and would be declared legal to pay all public and private debts. Issued by a sovereign nation, not in danger of collapse, it would need no gold or silver or other so-called “precious” metals to back it. As history shows, the stability and responsibility of government issuing it is the deciding factor in the acceptance of that government’s currency–not gold, silver, or iron buried in some hole in the ground. Proof is America’s currency today. Our gold and silver is practically gone, but our currency is accepted. But if the government was about to collapse our currency would be worthless.
Interest free, government issued scrip that is not backed by gold or silver.
Do you think that he is still a good reference for your argument?
Both John Law’s banking scheme, and today’s Federal Reserve System, are based on Bank Notes.
Do you know how Fractional reserve banking works?
Did you find the following video about John Law’s swindling deal informative?
Oh, you still have not explained a major distinction between a “Dollar” and a “Federal Reserve Note”. Do you know what a “note” is in financial terms? And what is a “dollar”?
JWK
“Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man’s field by the sweat of the poor man’s brow.”_____ Daniel Webster.
They are pretty obvious, he want the fed to lower rates in order to get GDP numbers back in line with his original predictions.
I know how all of that works.
I don’t find it scary.
I am disappointed that the discussion has been shifted away from Pastor Emry.
Why the sudden shyness when it comes to “Billions for the Bankers”?
Is this what embarrassment looks like?
You do? OK, let’s review what has taken place.
How the Federal Reserve Bankers swindled working people’s gold and silver from them.
During the time period when the Federal Reserve was created back in 1913, America’s laboring class people ___ plumbers, carpenters, electricians, store clerks, janitors, etc. ___ were paid in gold or silver coins, a real commodity having intrinsic value, or, they were paid with various forms of Federal Reserve Notes, each of which could be brought to the bank of issue and exchanged for the Note’s expressed face value, in gold or silver “dollars”. . . real material wealth!
Keep in mind, if you have $20 in your bank account today, and withdrew it, and the bank had to give you twenty silver dollars, you would be able to consume approximately what $300 in Federal Reserve notes now allows you to consume. This gives you an idea of how much purchasing power a person has lost since the introduction of the Federal Reserve System. And that loss in purchasing power is the gain of bankers who have seized control over the issuance of our nation’s money supply.
Getting back to our nation’s money history, eventually, working people who deposited their gold or silver coins, or Federal Reserve Notes which declared on their face were redeemable in gold or silver coins, when withdrawing their money, were handed Federal Reserve Notes which had a very clever change. These new Federal Reserve Notes circulated by the banks no longer guaranteed to be redeemable in gold or silver coins. But few, if any of the working people, realized the new Notes were no longer redeemable by Federal Reserve Banks in gold or silver coin.
Eventually, the Federal Reserve Banks switched all incoming Notes which were redeemable in gold or silver coin with Notes no longer redeemable in gold or silver coins, and this is how the Federal Reserve System swindled the American People out of their gold and silver, and now, having swindled America’s working people out of their gold and silver coins, an honest medium of exchange, the Federal Reserve rents Bank Note script to the public to conduct their business while bankers now live large by a thieving Fractional Reserve Banking system. The following video will explain this swindling operation which allows bankers to live large and consume the productivity of America’s labor and industries using the Federal Reserve System.
JWK
“Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man’s field by the sweat of the poor man’s brow.”_____ Daniel Webster.
Dude… you are seriously using a video with David Icke?
Between that and Pastor Ermy it is seriously no mystery as to where your wrongheaded and weird ideas come from.
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Could it be that the message is as bad as the messenger?
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This thread has been very enlightening in that regard
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David Icke believes that Jews are shape shifting reptiles from another dimension trying to take over the world.
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David, Lizard people, Ike? WOW
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Dude, you never commented on what I wrote:
How the Federal Reserve Bankers swindled working people’s gold and silver from them.
During the time period when the Federal Reserve was created back in 1913, America’s laboring class people ___ plumbers, carpenters, electricians, store clerks, janitors, etc. ___ were paid in gold or silver coins, a real commodity having intrinsic value, or, they were paid with various forms of Federal Reserve Notes, each of which could be brought to the bank of issue and exchanged for the Note’s expressed face value, in gold or silver “dollars”. . . real material wealth!
Keep in mind, if you have $20 in your bank account today, and withdrew it, and the bank had to give you twenty silver dollars, you would be able to consume approximately what $300 in Federal Reserve notes now allows you to consume. This gives you an idea of how much purchasing power a person has lost since the introduction of the Federal Reserve System. And that loss in purchasing power is the gain of bankers who have seized control over the issuance of our nation’s money supply.
Getting back to our nation’s money history, eventually, working people who deposited their gold or silver coins, or Federal Reserve Notes which declared on their face were redeemable in gold or silver coins, when withdrawing their money, were handed Federal Reserve Notes which had a very clever change. These new Federal Reserve Notes circulated by the banks no longer guaranteed to be redeemable in gold or silver coins. But few, if any of the working people, realized the new Notes were no longer redeemable by Federal Reserve Banks in gold or silver coin.
Eventually, the Federal Reserve Banks switched all incoming Notes which were redeemable in gold or silver coin with Notes no longer redeemable in gold or silver coins, and this is how the Federal Reserve System swindled the American People out of their gold and silver, and now, having swindled America’s working people out of their gold and silver coins, an honest medium of exchange , the Federal Reserve rents Bank Note script to the public to conduct their business while bankers now live large by a thieving Fractional Reserve Banking system.
JWK
“We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it”. — Congressman Louis T. McFadden in 1932 (Rep. Pa)
You really have no idea that even if your argument was valid… which it is not… that the references you have used to “prove” whatever argument you are trying to make has completely discredited you.
The funny thing is that you won’t even acknowledge it.
If it is ignored, then it will go away and you will have “won”
Being incapable of embarrassment is the amazing part.
Absolutely amazing.
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I’m still waiting for one of our forum geniuses to explain a major distinction between a “Dollar” and a “Federal Reserve Note”.
Could you be the genius to explain this?
And do you know what a “note” is in financial terms?
JWK
You’re the last person who should be talking about dodging.
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So you don’t use credit cards, paper money, or checks in your life…because you are so devoted to what the 18th century Founders wanted, right?
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What is amazing is, you won’t respond to my personal representation of how the Federal Reserve Bankers stole working people’s gold and silver deposits.
JWK
“This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President [Wilson} signs this bill, the invisible government of the monetary power will be legalized…the worst legislative crime of the ages is perpetrated by this banking and currency bill.” — Charles A. Lindbergh, Sr. , 1913