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Weekend Watching: The Secret of Oz by Bill Still now FREE on YouTube!

The best, well-researched film on the history of money. A must see!


What's going on with the world's economy? Foreclosures are everywhere, unemployment is skyrocketing - and this may only be the beginning. Could it be that solutions to the world's economic problems could have been embedded in the most beloved children's story of all time, "The Wonderful Wizard of Oz"? The yellow brick, the emerald city of Oz, even Dorothy's silver slippers (changed to ruby slippers for the movie version) were powerful symbols of author L. Frank Baum's belief that the people - not the big banks -- should control the quantity of a nation's money. The bottom line: No More National Debt. All our money is created out of debt. But nations don't have to borrow money from banks. Sovereign nations can create their own money -- debt free -- just as Abraham Lincoln did.

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Republicae's picture

I assume that you are

I assume that you are referring to the points delivered on the Floor of the Senate by Huey P. Long in 1934. Those points were not mine, far from it, those were the principles of Huey P. Long, the man praised in the documentary that Bill Still co-wrote and in which he played a role.

Apparently, you did not read what was written, otherwise you could not possibly have arrived at the ridiculous conclusion you did or your reading comprehension is not up to par. As I said, what I wrote is what Bill Still promotes in the film he co-authored, not me. I am completely against what Huey P. Long and for that matter many of the falsehoods that are promoted by Bill Still.

You say a government backed system would not be the same, but here is a falsehood that Bill Still promotes in his documentaries that there is any difference between what he proposes and what we have now. You think that the Federal Reserve is owned by private bankers, like many people that is a complete misconception, but there are those who promote that idea, like Bill Still, because it promotes their agenda. If the Federal Reserve was privately owned then why does the vast majority of the earnings of the Federal Reserve go to the U.S. Treasury. That’s right, the Federal Reserve sends at least 94% of all earnings to the Treasury, and out of the remaining 6% of “dividends” left to the Federal Reserve overhead is paid, after the overhead is paid, then the “stock-holding” banks receive a miniscule share of the proceeds. The fact is that we now have exactly, or almost exactly what Bill Still promotes, a government run system of fiat money which uses a government bond system to not only hide the fraudulent nature of the system, but also conceals the fraudulent value of the fiat currency it issues. The Federal Reserve is a lapdog for this government, it always has been, it is chartered to provide the government with funds which would be politically prohibitive through taxation.

Don’t believe me, then first read the Federal Reserve Act, then read all the reports concerning the funds that are delivered to the Treasury by the Federal Reserve. It is a system of government fraud, government control and fraudulent redistribution. As yet, I have seen nothing in the productions of Bill Still that addresses the fact that what he is promoting is just another version of what we already suffer under. Yet another government issued monetary system which, by its very nature, is redistributive and fraudulent. If I were the private owners [those banks and elite banking families] of a banking system like the Federal Reserve I would be sorely disappointed in the return of my earnings when the federal government actually earns the bulk of the proceeds from the various dealings of the Federal Reserve Banking System.

A government backed system would not be the same, OH YEAH? The Treasury is doing exactly what you are saying that it could not do, it is, via the FED policy of Quantitative Easing, printing what could be considered an unlimited amount of fiat money. How many Trillions of Dollars have been “printed” over the last two years? So, spend a dollar a second and it will take you 31,000 years to spend a Trillion Dollars, you don’t call that unlimited?

From what you have said it appears that you seem to think that a system like the one Bill Still promotes would operate differently than the one we now must submit to, the fact is that it would be the same thing, the only difference is that there would be a far more indirect method of credit issue, but a far more direct method of debt accumulation. See that happened to the balance of trade under the Greenback system, even after the War, there was no confidence in the Greenback by foreign countries. The primary force that keeps fiat currency powerful is not the government, it is not the Federal Reserve, it is the confidence that the People have in it, but that is rapidly changing as the People are seeing through the overt fraud that has been perpetrated upon them for the last 97 years.

The fact of the matter is that it has take a little over 97 years to create the almost perfect productive fiat serfdom, but few realize it, apparently you don’t. Today, for every fiat dollar you earn per hour you only are paid the equivalent of $0.05 Cents, now tell me they have not created one of the most perfectly concealed serfdoms ever conceived. So, you think that they want to destroy that serfdom, to destroy the very thing that they have worked so hard to create for nearly 100 years? You actually think they hope to make the serfs unproductive through collapsing this economic system they spent untold quadrillions and nearly a century to create? Please, that is not the plans of the so-called NWO, by the way, the commonly accepted term NWO does not denote one concerted elitist power, but several struggling powers, some who cooperate with others, some who don’t, many within the umbrella that is called the NWO, is, in fact, differing factions with little unity to facilitate an actual globalist agenda as promoted by certain groups on the web. Oh, make no mistake there are powers that seek more and more control over global matters, but the idea that an actual ideological unity has or can be created denies the last several thousand years of human history.

Let me tell you, when the America fiat economy, which is already technically bankrupt, finally collapses, we will not have to worry about other countries, they will follow the lead domino and the global crash will lead to those advocating the NWO being hunted down like the treacherous dogs they are. Many of our own politicians, who false swore an oath to uphold and defend the Constitution, should, in fact, be placed on trial for high treason, perhaps one happy day we will see Liberty Trees on every corner with the feet of traitors dangling from them.

Now, you were saying, or attempting to say?


"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

Joη's picture

I think you mean "sordid", not "sorted"

    almost homophones.

    "You underestimate the character of man." | "So be off now, and set about it." | Up for a game?

    This is true

    we are all being manipulated and offered sides to choose..this is just one example how.

    The answer is FREEDOM

    Ron Paul has it right when he says we should allow competing currencies. Let gold, silver, cigarettes, local paper or whatever act as money and the free market will decide what is the best medium of exchange.

    There is no need to end the Fed if we just end the monopoly the Fed has on creating of money out of debt.

    The slogan should be: "End the Monopoly" or "Allow Competing Currencies"

    Let the best currency win.

    You cannot redistribute GOLD at inflated price.

    Everyone looses. The old system must be brought into check, BEFORE any CHANGEover. Otherwise you pass on the inflated prices, which is just like what we average citizens have now and are slaves to. It wouldn't be long until they would have your GOLD also. Besides America's gold is probably laying in international accounts for the NWO. America's exchange rates would be a huge international comodities lose. The World at large continues to rape us daily.

    since our leadership has abandoned us for greener pastures; we cannot bring back the hour or the glory in the flower. WE can only invest in ourselves.
    We will prevail.

    DON'T Listen to Bill!!

    NATIONALIZING the Fed is the worst mistake any of us can make, it will make the Federal Reserve have complete monopoly powers and be staffed by federal government officials in every state.

    It would put the Fed up close and personal. Do NOT nationalize the Fed!!!! The only way out is to phase it out of existence.

    Republicae's picture

    The FED was "nationalized"

    The FED was "nationalized" the moment it was created. While the myths of so-called "private ownership of the FED" persist, the fact is that the Government is the actual OWNER and THE RECIPIENT of 94% of more of the annual earning generated by the Federal Reserve Banking system and it has been for the last 97 years.


    "We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun


    does not advocate Nationalization of the FED.RES.
    Listen again.

    So many different takes on this subject.

    I am completely confused now and think that I'll go read Ron's End the Fed book again to get some more direction...and I'll leave it at that.

    "Necessity is the plea for every infringement of human freedom. It is argument of tyrants. It is the creed of slaves." William Pitt in the House of Commons November 18, 1783
    "I know major allies who fund them" Gen. Dempsey

    Gold is under the control of the Rothschilds, and not the remedy

    Gold has always been and always will be under the control of the Rothschilds Banking dynasty.

    Gold is the not the answer. They have the power to hold the Economy hostage, by contracting the supply (as they have always done) whenever they wish.

    All throughout history, Gold-based currency did not ever prevent recessions and depressions (and loss of wealth of the people). In fact, it was the original Goldsmiths and the Rothschilds who created a currency model based upon their dominance over Gold, and manipulations.

    The only answer is, as Bill Still points out, is Independent money. Money that is not under the control of the Rothschilds, the Rockefellers, the Morgans, the Saudis, London, or anyone else. We need a locally controlled Sovereign Currency like both Ben Franklin and Abraham Lincoln gave to us, and John Kennedy had tried to do.

    That's why State-Chartered Banks are a good thing (debt-free money), and why Ending the FED, and putting the control of our money in the hands of the U.S. Treasury (with debt-free money creation) is a good thing.

    It doesn't matter what "backs the money". Any currency that has a direct association with the Rothschilds (Gold) is an automatic loser.

    What matters is who controls the Volume of money.. That's the key folks:

    "Whosoever controls the volume of money in any Country is absolute master of all industry and commerce...

    And when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate."

    --President James Garfield

    "If congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations."
    --President Andrew Jackson

    Republicae's picture

    "We need a locally controlled

    "We need a locally controlled Sovereign Currency like both Ben Franklin and Abraham Lincoln gave to us, and John Kennedy had tried to do."

    You just provided three of the biggest myths and misconceptions floating around the web today, all promoted, of course, by the likes of Bill Still, Ellen Brown and others, such as Mike Montagne.

    Factually, Lincoln did nothing but nationalize the banking system, putting more power into the hands of the bankers. The Greenbacks were nothing more than notes which carried a promise of future payment in gold, the debt brought about by the issuance of the Greenback quadrupled. That was the purpose of the Greenback system, to bring about a permanent nationalized debt system to promote a permanent government bond market. It was the forerunner of our present system, nothing more. It was not Sovereign Currency, on the contrary, it provided for the complete loss of monetary independence of this country, shifting that monetary power into the hands of the government and into the hands of a very few powerful banking houses and financiers.

    Ben Franklin, while he favored a fiat currency early in his life, repudiated that view when he witnessed the effects of massive inflation that spread poverty and economy chaos throughout some of the colonies.

    The next myth, that is so common it is amazing is that JFK tried to bring back a sound monetary system, when in fact all he did in his executive order 11110 was to amend executive order 10289, both of which did absolutely nothing by way of ordering the issuance of some new silver certificates or some Sovereign Currency as you continue such myths.

    EO 10289-The Secretary of the Treasury is hereby designated and empowered to perform the following-described functions of the President without the approval, ratification, or other action of the President.

    EO 11110-Executive Order No. 10289 of September 19, 1951, as amended, is hereby further amended (a) By adding at the end of paragraph 1 thereof the following subparagraph (j): (1) "The authority to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury."

    Now read those EOs closely, while it is assumed that JFK ordered the issuance of a new "Sovereign Currency", as you say, the fact is that all EO 11110 did was to modify the EO 10289 delegating to the Secretary of the Treasury a particular power that EO 10289 formally gave to the Executive Branch in 1951. All it did was provide for the alteration of the supply of silver certificates since the President signed a piece of legislation repealing the Silver Purchase Act. Since the repeal the Secretary of the Treasury could no longer control the issuance and supply of Silver Certificates without having to jump through hoops, so JFK in Executive Order 11110 provided the Secretary with that authority, nothing more. The fact is that instead of JFK's EO 11110 making more Silver Certificates available his order actually lead to the removal of silver or Silver Certificates from circulation in 1964. EO 11110 was an enhancement of not only the powers in the Treasury, but also in the Federal Reserve.

    Factually, once gold is released as money into circulation it becomes extremely difficult for anyone to control it, that is one of the primary reasons that governments love fiat money so much, it provides the highest degree of control. The only sure protection is a government chained down by Constitutional Law combined with a highly involved public and sound commodity based money. Throughout history there have been those who have tried to control the waxing and waning of gold and silver supplies in hopes to control its use a money, the problem is that under the market, especially the free market system the market determines the proper level of the money supply not governments nor families such as the Rothschilds.


    "We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun


    > "Lincoln did nothing but nationalize the banking system, putting more power into the hands of the bankers."


    This is pure fallacious nonsense. It is documented history that Lincoln's fight was both with and against the Bankers.

    "I have two great enemies, the Southern Army in front of me & the financial institutions at the rear, the latter is my greatest foe."

    --President Abraham Lincoln

    Furthermore, the Rothschilds owned "London Times" Newspaper even documented just how Lincoln's Independent (Sovereign) Greebacks monetary model would successfully strip them of their own reign and control -- and that, for this reason, they wanted to stop it.

    "If this mischievous financial policy [greenbacks]... should become endurated down to a fixture, then that government will furnish its own money without cost. It will pay off its debts and be without debts.

    It will have all the money necessary to carry on its commerce. It will become prosperous beyond precedent in the history of the world. The brains and wealth of all countries will go to North America. That government must be destroyed or it will destroy every monarchy on the globe."

    --The London Times, 1865

    Now this is the documented (factual) history.

    The Rothschilds weren't scared of a silly Gold standard. They owned most of the damn Gold!!!! As I stated in the earlier post, they can cause Economic Recessions/Depressions any damn time that they want simply by contracting the supply of Gold. What they were scared of was an Independent debt-free monetary model outside of their control -- which is what The London Times made clear in 1865.

    This is also why Lincoln was shot. John Wikes Booth did not act alone. There were even 8 others who were hanged with him. He was a hired agent of the Rothschilds Central Bank machine.

    Lincoln kept the Union together to protect it from just being divided-up and conquered by the Bankers. His death marked the downward spiral that this Nation has been on ever since.

    Republicae's picture

    It does seem like a

    It does seem like a contradiction doesn’t it, like so many things that Lincoln said verses the things he did. It should be easy to see, at least by the actions of Lincoln, that his words did not always match his actions. However, there are hints even before his election as to his intentions for banking and those intentions were to superimpose a system of Mercantilism, or Corporatism, not only in banking, but in other areas of the economy. It was to be a partnership that would benefit the powerful interests of the bankers, the industrialist and the Radical Republicans. It was not only Lincoln, but others in the Radical Republican ranks that craved this co-mingling of government and business interests to achieve the consolidation of all the States under the control of a powerful central government led by a powerful executive unrestrained by Constitutional boundaries. He did just that!

    In 1832, Mr. Lincoln announced to Illinois voters that "My politics are short and sweet, like the old woman’s dance. I am in favor of a national bank, in favor of the internal improvements system and a high protective tariff."

    Lincoln, and his former Whigs, saw a national bank as vital to their radical political views, a nationalized banking system would give them power to accomplish what mere politics could not. If you read the Whig writings of the period you will quickly see the intent, it was to centralize all power in the federal government, to have a strong Executive, and to print fiat money without the restraints of gold and silver as a means to create a huge patronage system through the accumulation of debt spending on internal improvements. It worked and, as we are now witnessing in the Obama Administration, it is still working.

    Now, if you read one of Lincoln’s speeches, the one delivered on December 26, 1839, you will find his support of central banking, but in that speech you will find things he said that don’t add up when compared to his later actions. Lincoln was extremely opposed to an independent Treasury and when he was elected he made sure that the Treasury was completely dependent and obedient to the Executive Branch.

    It is also odd that so many people have bought into the idea that Lincoln hated banks and bankers, since he repeatedly opposed all efforts when he was in the Illinois Legislature to audit the Illinois State Bank. Other actions by Lincoln point to a very different position concerning banking and bankers, those actions portray Lincoln as a close ally to banking and banking interests, not as an enemy. In fact, many of the old-time Jacksonians though Lincoln was betraying the country in favor of the Banking Houses, in fact, he was.

    Centralized banking has been the objective of Nationalists since the time of Hamilton and was largely based upon what was known as the “Morris Scheme”. Both the Bank of North America and later Lincoln’s scheme for a nationalized banking system were modeling upon the Bank of England. It was a system that would provide a government grant of almost complete monopoly powers to a centralized system of banking with the primary beneficiary being, of course, the central government itself. This scheme was centered around creating a permanent market for government bonds and a system of monetary notes to facilitate the expansion of that market.

    Of course had Abraham Lincoln actually been against the various pieces of legislation that passed Congress he could have vetoed those bills, but he signed them. Strange, don’t you think, that if what you say is actually true that he would sign bills which would essentially do what you claim he was so against. Additionally, it would indeed be strange that he would not only support, but appoint men who were not only advocates of a system that would bring government and banking houses so close together, each reaping enormous benefits from the political/financial proximity. Of course, when you look into the type of men that Lincoln surrounded himself with, with those he placed in positions of power then numerous questions should arise not only about his politics, but his intentions for this country.

    For instance, he seemed to have a knack for making Marxists from the failed Marxist Revolution of 1848 high-ranking officers in the Union Army. Now, it is interesting isn’t it that one of the tenants of Marxism was government control over finance and credit, among others, most of which Lincoln managed to bring about with his Un-Constitutional acts of tyranny.

    Indeed, the Radical Republicans had a long history of conspiring for the subjugation of the South. Their political theories were openly pronounced as anti-Constitutional. The Radical Republicans were heavy supporters of Legal Tender because, for one thing, they believed it was necessary for the subjugation of the Southern People by providing the federal government control over the source and type of currency used in the country. Prior to the inauguration of Lincoln, Congress passed a resolution denouncing the political theories of the Radical Republicans as violations of Constitutional principles; unfortunately it did little to stop the advance of the Radical influences in Congress.

    The Radical influences were far greater and much more insidious than we understand. In the failed Revolution of 1848, Marxists from Germany sought refuge in the United States and oddly enough, their influences on the Radical Republican Party became very evident during the Lincoln Administration. During the election of 1860, the 1848 Revolutionaries were Lincoln Zealots and many were rewarded for their support of Lincoln’s campaign by instantly being appointed by Lincoln to very high military and government positions.

    One such 1848 Marxist Revolutionary was Union General Fraz Sigel. When in Germany, he was a leader of the 1848 Revolution, of which the primary goal was to bring both Germany and France under the control, by force of arms, of a strong centralized socialist government.
    Another appointment was Carl Schurz, he too was a Forty-Eighter and was credited for delivering over 300,000 German votes to Lincoln in 1860. Others were Louis Blenker, August Willich, Alexander Schimmelpfennig, Lorenz Brentano, Friedrich Hecker, Gustav von Struve, Wilhelm Weitling and Joseph Weydemeyer.

    Most of these Marxist Revolutionaries, like Joseph Weydemeyer, refused to swear oath to uphold and defend the Constitution of the United States of America. Due to these influences, it should be apparent that there was much more to the story of Lincoln. Indeed, if you look at many of the political theories of the Radical Republicans and the policies of Lincoln himself, you will find an eerie correlation between such political theories and Marxism, particular the Communist Manifesto.

    Is there a correlation between the policies of Lincoln and those of Marx, well, you must judge, but Lincoln certainly found a political fan in the person of Karl Marx as noted in Marx’s letter to Lincoln.

    Now, on to the question of the Greenback and Lincoln’s intentions for a system of monetary control, which, by the way, was the basis of the eventual creation of the Federal Reserve System. In the latter part of 1861, in an effort to pay for the massive expenditures of the Lincoln War Machine, the Treasury floated a $150 Million Dollar Bond issue which was to be sold to the major banking houses, but it was pretty much a failure because Salmon P. Chase wanted to force the payment for the bonds in gold, gold that the banks did not possess. Within a few months it was decided, by Lincoln, Chase and the other Radical Republicans that gold specie should be suspended, even on Treasury notes.

    Lincoln signed into law the Legal Tender Act of 1862, forcing the Northern States to accept as payment inconvertible fiat money. Congress authorized, and Lincoln approved the printing of $150 Million “United States Notes” which flooded out to finance the war and government. One of the stranger facts about this issue of “Greenbacks” was that the Treasury continued to pay all interest on the government debt with gold. Additionally, to add to the insult of the Greenback fiasco, they were made convertible at par into U.S. Bonds, the exchange of one liability for yet another could not be considered sound and it wasn’t , the practice was repealed within a year.

    It did not take long for the Greenback to depreciate in value, when it hit the 97 Cent mark, most of the fractional silver coin in circulation disappeared, all being exported in exchange for gold since there was little, if any confidence in the Greenback, or for that matter, Lincoln. By mid-1862 there were no coins in circulation in the North higher than a copper/nickel penny. The grand scheme of the Lincoln administration was to issue something like postage stamps to serve as small coins, by the spring of 1863 the Lincoln administration has issued $28 Million Dollars in what was known as Postage Currency and Fractional Notes, it wasn’t long before even the pennies disappeared from circulation, all that was left was paper scraps. Talk about a disaster, all brought about by the Greenback Dollar, what a wonder to behold. There was nothing “Sovereign” about the currency, instead the entire system allowed for the joining of powerful financial houses with the patronage of the Lincoln Administration. The bankers grew extremely wealthy under the Lincoln Administration.

    Lincoln, who had always promised a central banking system on the campaign trail, along with internal improvements, all under government control, signed into law a piece of legislation in 1864 that would essentially nationalize the banking system, driving out independent banks in favor of the larger, more powerful and wealthy banks. It was to be a nationalization, bringing together the large houses of finance and government into a system that would virtually guarantee immense wealth for the banking houses in the United States and, in conjunction those older banking houses in Europe, especially those of Great Britain. Contrary to popular opinion and popular myth, the banks were very enthusiastic about the Greenback Dollar and the nationalized system of banking instituted by the Lincoln Administration.

    One man closely associated with the entire Lincoln banking scheme as Jay Cooke, he was an investment banker from Philadelphia. He, along with his brother Henry, who was an editor of a leading Radical Republican newspaper, sought out to, in the words of their father, making money by contracts with the government. By 1862, Salmon P. Chase, granted a monopoly to what would become the House of Cooke. The monopoly power to sell government bonds, all under the auspices of the Lincoln Administration, made the Cooke brothers wealthy beyond measure. Jay Cooke recruited and hired over 2500 agents and set out to assist the Lincoln Administration in making the dream of a nationalized banking system and a permanent debt bond market a reality. It was not long before the House of Cooke, with government granted and sanctioned monopoly power, was selling between $1 to $2 Million Dollars worth of government bonds per day. In fact, the House of Cooke remained the sole benefactor of this government monopoly until the year 1873.

    Under the guidance of the Lincoln Administration, Cooke assisted in the destruction of the decentralized banking system, which had been relatively successful, and replace that system with a highly centralized national banking system, all under the aegis of the government and a handful of Wall Street Bankers. The effects of the Lincoln Plan for nationalization are still with us and they paved the way for what would become the Federal Reserve System. Lincoln’s plan instituted what amounts to a quasi-centralized banking and monetary system and a fiat monetary system, like all others did little but redistribute the wealth of a nation into the hands of government and it’s system of corporate patronages. The whole system was structured in such a way that it would be necessary to continually sell huge amounts of government bonds, it was a permanent system of debt accumulation.

    Lincoln signed the Bank Acts of 1863 and 1864, these acts paved the way, not only for government chartering of national banks, but also a system of “Reserve Banks”, sound familiar? The system created three sets of national banks, the main one, of course, being in New York, as it was called “Central Reserve City”, the “Reserve City Banks” were in cities with populations of over 500,000 and then the third was called “Country Reserve Banks” which included all other government chartered national banks in smaller cities. Again, this was a forerunner of the Federal Reserve Banking System which, as we know, is centered in New York. Again, in another similarity, the Lincoln Plan required that the Central Reserve City Bank keep at least 25% of their vaulted reserve in “lawful money, which, at that time included primarily Greenbacks, but also nominal gold and silver deposits. It was a massive monetary pyramid that the Lincoln Administration constructed, all built upon a fiat currency and a system of U.S. Government debt that created vast wealth for both politicians, industrialist and, in particular, bankers. The Central Reserve Bank in New York would pyramid notes and private deposits on top of Greenbacks, in this way the Central Reserve Bank, along with its subsidiary banks, could inflate their notes and deposits. It was a fractional reserve system that was essentially unchecked, very similar to what we suffer under today. Basically, what the Bank Acts of 1863 and 1864 did was to create a banking structure built upon the larges of the Wall Street Banking Houses, it was a boon for the bankers and the politicians.

    There are numerous references in the Congressional Record of those like Senator Sherman and Elbridge Spaulding, who, by the way, was a banker and one of the primary sponsors of the Greenback legislation.

    Like any government with the power to print money, the Lincoln Congress continued to authorize the issuance of more and more fiat Greenbacks and on top of that massive printing that peaked in 1864 at around $415.1 Million Dollars, in the midst of massive inflation, the debt of the government continued to mount to over $1.3 Billion Dollars. Instead of the Greenbacks restraining debt, it helped in ballooning it to historic highs. By the end of the war wholesale prices had risen to over 200% of pre-war levels. Inflation was insidious.

    Of course, one of the effects of this massive fiat monetary inflation was massive price inflation. The truth is that Greenbacks began to depreciate in purchase value within the first few months they were initially issued, there was simply no confidence in the green government paper money. This becomes evident when, in order to drive up the price of government bonds on the market, Treasury Secretary Chase, under orders, eliminated the convertibility of the Greenback Dollar in July of 1863. Additionally, Chase made a concerted effort, all official, to attack and attempt to destroy the gold market. One of these tactics included what amounts to a Stamp Act on all gold sales and a prohibition against all loans with gold coin as collateral that was valued above par value with the Greenbacks. Of course, by 1864, the Greenback was valued at around 57 Cents.

    A bill was passed through Congress, signed into law by Lincoln, which could be described as nothing less than a disaster.

    It is interesting that every one who promotes this myth about Lincoln uses the exact same quotes, but seem to overlook the massive amount of actual information concerning the actions of Lincoln and his Administration concerning banking and fiat money.

    Besides, consider the character of the man, Lincoln was one of the most deceptive men ever to reside in the office of President. His lies began on the day he was inauguration, actually before, but he said:

    "Those who nominated and elected me did so with full knowledge that I had made this and many similar declarations and had never recanted them; and more than this, they placed in the platform for my acceptance, and as a law to themselves and to me, the clear and emphatic resolution which I now read:

    Resolved, That the maintenance inviolate of the rights of the States, and especially the right of each State to order and control its own domestic institutions according to its own judgment exclusively, is essential to that balance of power on which the perfection and endurance of our political fabric depend; and we denounce the lawless invasion by armed force of the soil of any State or Territory, no matter what pretext, as among the gravest of crimes.

    I now reiterate these sentiments, and in doing so I only press upon the public attention the most conclusive evidence of which the case is susceptible that the property, peace, and security of no section are to be in any wise endangered by the now incoming Administration. I add, too, that all the protection which, consistently with the Constitution and the laws, can be given will be cheerfully given to all the States when lawfully demanded, for whatever cause—as cheerfully to one section as to another."

    He said one thing, but did just the opposite, but that was commonplace for Lincoln, he was a consummate political liar of the first order. His actions effective were nothing less than a Counter-Revolution which would essentially nullify most of the Constitution, destroy the entire concept of a government by the Consent of the governed and erase the ideals of the Republic in favor of a highly centralized and consolidated government.

    As far as John Wilkes Booth is concerned, well there are some much more interesting facts concerning the conspiracy to assassinate Lincoln than your assertions. Booth was well-known to several of the Radical Republicans and, in fact, he had visited the Vice President on several occasions, including an attempt to meet with him the night before the assassination. The leadership of the Confederacy were horrified at the news of Lincoln's assassination, particularly Jefferson Davis, who thought that at least Lincoln might deal with the defeated South in a kinder fashion than the other Radical Republicans in Congress, he was right.


    "We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun


    for history.

    Surprised about Franklin...

    The propaganda they hand out when your tour the Philly Fed describes him as a "printer" in the Bernanke sense (supporter of fiat money)at great length. Naturally they never mention if he later repudiated it.

    Should have know Franklin was way too smart to buy such a scam for very long.

    Makes a person want to go protest against them again.

    Great post as always Republicae.

    Franklin supported soveriegn money

    It's still fiat, but it wasn't debt-based so it was slightly better. He did not support creating national money by "borrowing" it from a private bank and he was highly opposed to a gold standard because of it's inevidible redistribution to a small elite.

    Republicae's picture

    Actually, if you read all the

    Actually, if you read all the massive volumes of the writings of Benjamin Franklin you will find that early in his life, particularly after he wrote the pamphlet entitled The Nature and Necessity of a Paper Currency, he expresses that his love of paper money was due to the fact that he got paid to print it. Not only did the Pennsylvania House hire Franklin for the job of providing all the paper money, which he boast about how profitable it was to him, but later, with the help of Hamilton, he secured the job of printing government documents, again he boasted about the profitability of the endeavor.

    His motives were that of profit more than the supply of some sort of "sovereign money". Indeed, if you read his writings you will find that while Franklin was a genius in several areas, the economic market was not one of them. After several years of extreme inflation in the colonies and then later under the paper currency known as the Continentals, Franklin made note of the poverty associated with paper money inflation and the dangers of allowing government to control such a power. Read the Debates on the Federal Convention and see what all was discussed about paper money, why it was struck down and the comments made on the subject, including those of Franklin.

    It is very interesting that even the Continental Congress could not even be trusted with the printing of fiat paper money, the inflationary disaster was burned into the minds of many of the Framers of the Constitution, apparently Franklin was also one who experienced the fiasco called the Continentals, which eventually were depreciated to such a degree that they were considered absolutely worthless. You couldn't give them away.

    Perhaps one of the better pamphlets written on the subject was by none other than Thomas Paine, it was a scathing attack of paper money and the dangers to a free society, as well as the Liberty of the People. It is found in the Complete Writings of Thomas Paine and I highly recommend it.


    "We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

    I agree

    and this is where I'm not sure I agree with Ron Paul...one of the few things in fact.

    My fear is this: I don't want to End the Fed just to turn over the power to the gold brokers...but yet there has to be some accountability. We don't want govt. Treasury printed fiat money running away again.

    I'm really confused on the best situation and how to get there.

    When in history was there a perfect and honest money system that wasn't manipulated eventually?

    RP R3VOLution

    Republicae's picture

    Dr. Paul is absolutely

    Dr. Paul is absolutely correct when he promotes the use of gold and silver as Constitutional money. The reason is that gold and silver, when released as money into circulation becomes extremely difficult to pull under the control of government, that is one reason that FDR tried to confiscate all the gold in this country, but was only able to collect around 22% of it from the People.

    The most controllable form of money, by government or bankers, is, of course, fiat money, that is why they love it so much and will use it even to the point that the whole economy is destroyed through inflationary depreciation. Fiat money can never be titled property of the holder since it is a double liability. Gold on the other hand, once it is in the possession of the hold is a double asset and is actual property of the holder. Government's and bankers alike don't like that fact.

    The only way to control this government is to bring back the restrictions that sound money requires.


    "We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

    Exatly right!!!!

    The truth is, we need the states to nullify the 16th amendment and begin circulating our own currencies in a massive exodus.

    Then phase out the Federal Reserve and close the entire thing down.

    I believe an easy fix would

    I believe an easy fix would be to just do 2 things:

    1. Repeal all legal tender laws

    2. Prosecute fraud(no more fractional reserve banking)

    Problem Solved

    You guys missed the point

    It's about manipulation attempts by the BANKERS. The have's against the have not's. Control of the system, PERIOD.

    Wake up and smell the coffee. Gold is great but not the only system..the vidio was about trying to change the system, WHICH only benefits those who have the NEW system of currency. And ,who do you think that would be, YOU or someone else?

    Do you own all the gold ? Well then, if you do not have a lot of gold, you would loose purchasing power.

    The video is an example of what has already been tried by the BANKERS. This game is NOTHING NEW, EXCEPT we are now faced with NAFTA and NO infrastucture to withstand the BANKERS' onslaughts.

    You can thank that false surplus guy . Klinker

    LOOK to where the GOLD is, and you will find who is behind the change to GOLD. SIMPLE
    They would become overnite billionaires. And where would that let you, but homeless.

    A banker's business is to CREATE the NEED and fill the NEED, they and all the Gold investers become wealthy overnite. Government mandates do the same. WELCOME to Obamacare.

    "CHANGE", any change, usually benefits those who want the CHANGE, or they would not want the change.

    RON wants a change, to better his government, but at the same time it would be a further burden to us TODAY. The Federal Reserve for sure, is a disaster. It works unhampered with the Treasury and Congress. It holds no restraint to date, on U.S. Spending..This means it does NOT operate independently as we are told. The only thing independent about the FED is it's SECRECY, which is becoming more and more less important as they now are moving towards Global initiatives. They will want to eliminate the FED. when the time is right.

    They can run, but they cannot hide, there is an all seeing eye. Grace exists not because of men's goodness, but rather because of other men's evil hearts.

    Republicae's picture

    "Do you own all the gold ?

    "Do you own all the gold ? Well then, if you do not have a lot of gold, you would loose purchasing power." Impailed4u

    First, and I am not trying to be overly critical, but it appears that you don't know much about monetary mechanics and even less about specie money and how it functions.

    Now you are correct about one thing, the FED is not, nor has it ever been "independent", in fact, it's majority owner is none other than the federal government. The federal government, not banks or bankers, own the FED and benefit from it by reaping at the very least 94% of all proceeds entering the Federal Reserve System. Those proceeds are, just as the Federal Reserve Act mandates, sent to the owner of those proceeds: The U.S. Government's Treasury. After paying the government its majority stake dividends, then the FED, after paying its own overhead, pays the various stock-holding banks a very small amount in comparison to the earnings paid to the government. The FED is, as I have said time and again, the Official Lapdog of the federal government. The reason for secrecy within the Federal Reserve is to conceal the complicity of the federal government in the most enormous system of fraud ever created or perpetrated, not only on the People of this country, but also on the peoples of the world.

    There is no possible way for this government to function in the manner that it does without the fiat monetary system as it is administered, for the benefit of this government, by the FED which, is nothing more than a government corporation, similar to the IRS which, is yet another system used to support the fiat monetary system.


    "We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

    Principles of Honesty

    "Using the Principles of Honesty, LIBERTY needs a BAILOUT!!!"

    "Support the CONSTITUTION!!!"

    "Bail out LIBERTY today, sound money tomorrow!"

    "We need to stop overflowing the BUCKET!!"

    "FREEDOM!!! Precious Words You Can Believe in!!!"

    I watched this film also.

    I watched this film also. Very good film, great history info in it, amazing.
    The problem I have with it is that he puts such faith in Government to print fiat currency and I have to say that would also be a problem I think. If you see the people in Government today, do you really think they would not abuse the new system also?
    Commodity based currency (many different ones) is best I think, value will be there whatever happens to government.

    Teach a man to fish and you feed him for the rest of his life.
    Teach a man to phish and he'll clean out your bank account.

    ding ding

    ding ding


    The irony is that "The Wizard of Oz" was about the gold standard. This film cites "The Wizard of Oz" is its title but the film promotes fiat currency. I would call this film a false flag attack on those who want to end the fed. This is not the solution to our problem. this system would change absolutely nothing for us.

    It removes the national debt

    It removes the national debt and eliminates the federal income tax (since that only exists to fund the banksters). It also stops the criminal banking cartel from controlling the quantity of our currency.

    Republicae's picture

    No, it does not! If you can

    No, it does not! If you can provide the mechanism by which the proposed fiat system would do that then by all means do so, thus far Bill Still has not been able to provide the mechanism. Fiat currency has no inherent commodity or asset value, value therefore, must be imparted to it by some mechanism, the most common mechanism is either a direct or indirect system which organizes debt, in particular government debt, into a currency system.


    "We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

    I agree that the currency

    I agree that the currency must be backed by multiple assets, but if the government issues the currency rather than borrowing it from criminals, then there is no interest collected by the criminals, thus eliminating the federal income tax, which funds the criminals.