Anyone claiming that one money system will be the highest quality and lowest cost system will be someone making a claim, which is an offer, which can be understood as an offer.
When someone claims that the offer is non-negotiable, or subject to acceptance without consensual agreement, then the litmus paper turns color at that moment.
The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned."
A fight between an offer of a competitive system of money, such as Bit-coin, legal government annuities (not fraudulent), Liberty Dollars, or Gold and Silver Legal Money, lawful money, whatever, are fights that can be won or lost in a free market.
The highest quality and lowest cost offers gain market share and the lower quality and higher cost offers lose market share.
Arguments are decided by individual agreements that add up to a collective summation of those individual agreements.
Who, and what army, enforces defense of the victims against the legal money fraud monopolists?
Which money do they choose, voluntarily?
Legal Monopoly Money
He missed a few important historical points.
Jay Cooke was engaged by Salmmon Chase as special agent to sell the $500 million in "five-twenty" bonds — callable in five years and matured in 20 years — authorized by Congress on February 25, 1862. Chase promised a sales commission of 0.5 percent of the revenue from the first $10 million, and 0.375 percent of subsequent bonds.
The "five-twenty" bonds paid 6% interest on maturity. These bonds backed Lincoln' Greenbacks. The Greenbacks where financed by debt that paid interest.
It's likely that Lincoln wanted to establish, under the crisis of war, a National Bank for the Union to compete with European bankers.
At the time the Norther States were deep in debt to foreign interests, although Jackson had paid off the Federal foreign debt in 1835.
If Northern States could loot the solvent Southern States then the North's foreign debts could be repaid.
By 1893 only 1/3 of the Civil War debt was repaid. No principal has been paid on the National Debt since 1893.
Hardly a success story for fiat money by any stretch of the imagination.
Congress has proven to be nothing but a dismal failure for 220 years in all money matters. Congress created these problems, looking to them for solutions is foolish.
The Constitution requires States to use gold and silver Coin for taxes and payments.
A currency backed by gold or silver is not authorized.
The rest of us can use any market determined money that suits our needs. Legal tender laws are unconstitutional.
Congress represents the creditors, it has for 220 years.
Free includes debt-free!
He's a Greenbacker thru & thru - fanboy of Abraham Lincoln & William Jennings Bryan.
He's 100% correct on explaining problems of Federal Reserve, but (I feel) 100% wrong on proposed solutions. Dennis Kucinich is another Greenbacker, I believe.
There had been a long Gary North discussion about this topic. I don't have link handy now, but Gary North had shown how flawed the Greenbacker solutions are.
Immoral funding of Military Industrial Complex by Federal Reserve and US taxation system must stop!!!! End illegal/unconstitutional wars! Preserve US currency!
Thx, I re-found the 2nd link & posted shortly before you.
But as for the 1st link: Wow! This is the first time I've seen this stuff & there is so much to learn in it. Gary North is truly a treasure chest with his knowledge, sharp ability to dissect & clear writing skills.
if he dreamt of an amendment that prohibited government borrowing.
If government created no new debt, it would not have to create new taxes.
After 120 years without a penny paid on the principle, of what faith a credit does the US boast.
The creditors only loan us money for uses they condone; Global electronic spying, breaking windows, infrastructure, countries and people; big government security agencies...
Congress raises the debt ceiling to borrow money to do the creditors bidding. We pay interest, but no principle, since 1893.
In 1835, the US republic was born, free of foreign debt.
Thanks for head's up on North article!
Yeah, finally found that Gary North link. Here it is for benefit of others who haven't seen it.
I live in Duluth, Minnesota. The most prominent statue in downtown Duluth is not of Leif Eriksson but Jay Cooke. I thought of pissing on it one night under the cover of darkness [it stands not far from the door of my favorite drinking establishment]. Crazy night, somebody beat me to it! I watched in amazement as the local police chased and took down the [actual] noble Copperhead vandal with a taser. o_o
Funny money and government operators are frequent target of scorn around here.
Agree with most of what he says. Thanks for posting.
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