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The Anti-Privatization and
"The intelligent want self-control; children want candy."
Reform of Our Monetary Systems
"The lowest stage a society can reach is when its leaders
are chosen by their wealth instead of their ability."
Concern over the privatization of government functions has become
one of the most talked about issue during past Canadian elections.
Privatization of health care was hotly debated in
both the 2000 and 2004 federal elections. Privatization of
our electrical generating and delivery companies has also been
a hot button topic in Ontario provincial elections, in which
many have pointed to California's less than successful
experimentation in the field. Private education has also
become a concern for many. The beginnings of the privatization
of our system of roadways has also lead to Ontario's first major
toll highway, the 407.
But perhaps the most important government function threatened by
privatization is one that gets no serious mention in the news
media or on the campaign trail. It is so well disguised in
institutional euphemisms that very few even realize that the
issue exists, and fewer still take the initiative to question
Most governments of the world have privatized the supply and
control of their own national currencies.
"The ... bill grants just what Wall Street and the big banks
for twenty-five years have been striving for - private
instead of public control of currency.
It [the Glass-Owen Bill] does this as completely as the
Aldrich Bill. Both measures rob the government and
the people of all effective control over the
public's money, and vest in the banks exclusively
the dangerous power to make money among the people
scarce or plenty."
Alfred Crozier, Ohio Attorney
testifying before the U.S. Congress as they neared
a vote on the Glass-Owen Bill in 1913.
World currencies are beyond the threat of privatization, they have
already been privatized decades ago. The real threat today is that
people have grown so accustomed to the way things are now, we forget
to even question it, or take what action we must to come up with
a better system.
Think about it: Most governments talk endlessly about their national
debts. In fact, it is the number one excuse they use for not
fulfilling many of their other important social & economic functions.
But to whom do our governments owe these great debts?
One of the most common assumptions is that national governments owe
these sums to each other. I fell into that belief early on from
watching light media coverage of the debate of this issue, and
apparently the writers of the feature film "The Day After Tomorrow"
were not beyond it either, although the offending comments seem to
have been quietly removed from the DVD release.
But that would mean there must be large,
rich countries out there loaning money, with their own treasuries
"in the black". Can you name any? It's not Canada, with our
national debt measured in billions of dollars. It's not the
United States, with their national debt measured in trillions
of dollars. Most European countries fare no better. And third world
countries can barely maintain the necessities of life.
"Virtually every nation involved in World War Two greatly
multiplied their debt. In the U.S. for example, federal
debt went from $43 billion in 1940, up to $257 billion
in 1950, an increase of 598%. Between 1940 and 1950,
Japanese debt swelled 1348%,
French debt grew 583%, and
Canadian debt soared 417%."
Bill Still & Patrick S.J. Carmack, BBA, JD.
screenwriters of the film
"Capital Crimes: How The Federal Reserve Robs Us Blind"
Who, or what,
is loaning the money for all these government national debts?
Private Banking institutions of course. The Canadian national debt
is owed to the Bank of Canada. The U.S. national debt is owed to
the Federal Reserve. British national debt is owed to the Bank
of England. And so on, and so on. If these banking institutions
were actually part of their national governments, what use would it
serve for the government to loan itself money, pay interest, and
use debt-reduction as an excuse for not taking care of health,
electricity, education, roads, and all the other public services
that constantly get shortchanged?
"In the United States today we have in effect
two governments.... We have the duly constituted Government....
Then we have an independent, uncontrolled and uncoordinated
government in the Federal Reserve System, operating the
money powers which are reserved to Congress by the Constitution."
Representative Wright Patman, D-TX
Chairman of the House Banking & Currencies Committee in the 1960's
The sad truth is, the Bank of England is a privately owned
corporation, as with the Bank of Canada and the U.S. Federal Reserve.
Governments spend huge portions of the tax revenue paying interest
to private banks.
Fair minded readers may be thinking, "Well, if you borrow the money,
you have to pay it back." And that is the insidiousness of this
particular scheme: on the surface, settlement of debts has the air
of fairness about it. But governments are a little different from
the common person or business when it comes to handling money.
Governments have both the right and the responsibility to create
and manage a form of currency for those people it represents.
And nearly all of the world's national governments, particularly
the largest, have contracted these rights and responsibilities out
to private banks, and then gone into their debt. Indeed the contracts
are designed such that the entire nation's currency has its source
in the national debt. If the government were to actually and
simply pay off its national debt, the country would be without
A government must do more to survive and thrive economically
than simply pay off its national debt. It must also relearn
to exercise its right and responsibility to
create and manage its own currency. In a democracy,
the people are the government, thus absolute transparency
is a must.
Remember, the British Empire expanded and prospered while England
used the Talley Stick system of currency, which was strictly
controlled by the British Monarchy. The American Colonies
experienced one of their healthiest economies ever during the
pre-revolutionary period when they made and managed their
own form of debt-free money called colonial scrip, when just enough
was issued for balanced trade.
"In the colonies we issue our own money. It is called
Colonial Scrip. We issue it in proper proportion to the
demands of trade and industry to make the products pass
easily from the producers to the consumers. In this manner,
creating for ourselves our own paper money, we control
its purchasing power, and we have no interest to pay,
to no one."
Wars have been fought over the control of the monetary systems.
Election campaigns have been won and lost over the issue.
Leaders have been assassinated because of it.
"If the American people ever allow private banks to control
the issue of their currency, first by inflation, then by
deflation, the banks and the corporations which grow up
around them will deprive the people of all property until
their children wake up homeless on the continent their
No plan to reduce and eliminate government debt should ignore
the successful strategies of Andrew Jackson, the only U.S. president
in American history to ever pay off that country's national debt.
In essence, he patiently and determinedly de-privatized the
country's capacity for creating and managing its own supply
of currency, and was elected on a platform to do just that,
becoming the first president to tour the country during an
election campaign and winning landslide support amongst the
people to reclaim their currency for them.
Why don't we hear more of this from the major mainstream media?
Because television & radio stations, and newspapers and magazines,
like many other businesses, operate on bank loans. Their ability
to report on scandals is often compromised by the need to keep
their investors happy, keep their loans secure, and keep the
advertising dollars from large corporations flowing. Most
media personnel and even politicians today are not even aware
of the issue, after generations of successful repression
and counter-propaganda embedded into our educational systems.
But the issue of monetary reform may dare to re-enter mainstream
politics again today, with increased scrutiny and attention going to
the new deals that governments are rushing to give to banks
around the world. The atmosphere of fear and panic surrounding
these moves is the greatest reason to suspect it may be a case
of even more public power being consolidated in bankers' hands,
in-depth scrutiny is required before this determination can be made.
One thing is for sure: fear often produces the very results people
hope to avoid, and an attitude of calm assertiveness is far
more constructive. With clear heads and solid perseverance
and determination, moving out of a debt-based economy by recreating
a debt-free currency is historically the most tried-and-true
solution to the banking woes witnessed in this fall of 2008.
"Get Congress to pass a bill authorizing the printing of
full legal tender treasury notes.... They will have the
full sanction of the government and be just as good as
any money; as Congress is given that express right by
Col. Dick Taylor
advising President Abraham Lincoln
on the initial creation of debt-free "greenback" notes.
"The Government should create, issue, and circulate all
the currency and credit needed to satisfy the spending
power of the Government and the buying power of consumers.
The privilege of creating and issuing money is not only
the supreme prerogative of Government, but it is the
Government's greatest creative opportunity.
By the adoption of these principles ... the taxpayers
will be saved immense sums of interest. Money will cease
to be master and become the servant of humanity."
"If our nation can issue a dollar bond, it can issue a dollar bill.
The element that makes the bond good, makes the bill good also.
The difference between the bond and the bill is
the bond lets money brokers collect twice the amount of the bond
and an additional twenty percent, where as the currency pays
nobody but those who contribute in some useful way.
Thomas Edison, Inventor of the Light Bulb
It is absurd to say that our country can issue $30 million in
bonds and not $30 million in currency. Both are promises to pay,
but one promise fattens the usurers
and the other helps the people."
"The problem even transcends the normal spectrum
of political right and left.... Either way
the bankers win. Monetary Reform is the most
important political issue facing this nation."
Bill Still & Patrick S.J. Carmack, BBA, JD.
screenwriters of the film
"Capital Crimes: How The Federal Reserve Robs Us Blind"
Most quotes on this page are taken from Still & Carmack's film,
which is now available in its second incarnation on VHS and DVD
as "The Money Masters". The video encourages a plan to do away
with U.S. national debt and reform its currency laws, which advocates
the following basic steps:
Monetary Reform Plan
- Pay off government debt with newly issued
debt-free government notes
- Abolish Fractional Reserve Banking
& raise reserve requirements proportionally
as debt is repaid.
- Repeal Acts giving money powers to the
Federal Reserve, [or, in other nations,
the Bank of Canada, Bank of England, etc.]
- Withdraw from the IMF, BIS, and the World Bank.
The film "The Money Masters" might equally be titled
"A History of Money", as it offers detailed blow by blow
accounts of the battles over the control of producing
various nations' currencies, along with reactions from
many respected economists.
You can find out more about their film and purchase copies
from their website:
http://www.themoneymasters.com, which also contains
links to many other related resources.
Article written by Martin Izsak,
and authorized solely by Martin Izsak and Lyratek Arts.
Comments on this article are welcome. You may contact
the author from this page:
"Seek the source of truth, not the image of it."
If you enjoyed this article, you may also be interested in:
"The Evolution of Political Ideals"
A parent page highlighting
the philosophical underpinnings in our
politics and governmental systems,
with information and links to more articles.
Are "government-knows-best" and tax-punishment
policies really the best methods of achieving
harmony between man, nature and the environment?
Join us in our quest to put a better "Green Shift"
on the cards than what has so far been proposed.