The Common Man's Prospective
Articles and Writings
E. C. Marsh
P.O. Box 342
Saint Ansgar, IA 50472
Money and Banks.
What is Money?
1 Timothy 6:10 For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.
|Definitions of Money.|
|Strong's Hebrew 3701||"Silver"|
|Strong's Greek 694||"Silver"|
|Webster's 1828||"Coin; stamped metal; any piece of metal, usually gold, silver or copper, stamped by public authority, and used as the medium of commerce."|
|Merriam-Webster's Online Dictionary||"Something generally accepted as a medium of exchange, a measure of value, or a means of payment: as a: officially coined or stamped metal currency."|
Money is whatever the man with the gun to your head tells you it is.
In free America there is no competition, money is a monopoly.
Money seems to be quite complicated until it is broken down into it's simple definition. "Metal coins representing a value that you carry around to buy and sell stuff."
It is a lot easier to carry money to the market to trade for a bushel of wheat with than trying to trade a couple of chickens for the same wheat. The wheat farmer might not need any more chickens so you don't get your wheat. With money the trade is assured as the wheat farmer can trade the money for some gas to use in his tractor or get his wife some roses.
Paper currency was invented so we wouldn't have to carry around all those heavy metal coins when going to the market. The paper had printed on it the value of the money (metal coinage) that it could be redeemed for. That is very convenient, but paper currency is not money. It is a certificate showing you have money in the bank for safe keeping and the piece of paper currency can be redeemed at the bank at face value, in money.
Silver Certificates were printed for a time in the United States as a form of paper currency. They were produced in response to silver agitation by citizens who were angered by the Fourth Coinage Act, which placed the United States on the gold standard. The certificate was matched to the same amount of value in silver coinage. For example, one dollar Silver Certificate equals one silver dollars.
The Silver Certificates were abolished by Congress on June 4, 1963 and all redemption in silver ceased on June 24, 1968.
As of 1968 we ceased to have money in America.
August 2008: I am using the federal minimum wage as a guide. All wages have increased accordingly so we can see how our labor is valued.
The minimum wage act of 1968 mandated not less than two dollars and sixty five cents ($2.65) an hour for employee wages. As of this writing the federal minimum wage is now $6.65 an hour. This is a 40% increase over 40 years.
The price of silver has increased from $1.00 to $20.00 an ounce. This is an increase of 20 times. If we look at silver it still followers commodities. A gallon of gas cost us $4.00 or 1/4 oz of silver which is still a quarter.
There hasn't been any increase (only supply and demand fluctuations) in prices for the past 40 years. This is only an illusion as the value of the dollar that we are paid for our labor has gone down. Not the value of real money.
In 1968 if a person had purchased 1,000 ounces of silver for $1,000, today it would be worth $20,000. All would say, "That was quite an investment!" Not really, as that person would of only broken even as the purchasing power of that 1,000 ounces is still the same as it was 40 years ago.
Our early "Units of Silver" dollar symbol. The dollar symbol was in use in colonial times. Prices were quoted in units of silver, which was in common use for payment of goods and services. When a price was quoted the capital 'S' was used to indicate silver with a capital 'U' written on top to indicate units. The capital 'U' was replaced by double vertical hash marks.
Our modern "No Silver Units" dollar symbol. When silver was removed from America's currency the dollar sign was modified with a single strike to indicate "no silver".
The Housing Crisis
Before I was drafted in 1968, a brand new house in Northern Virginia sold for $65,000. Today a similar brand new house will command a price of $750,000+. That seems like a lot of money, but using the above silver basis a $65,000 house should now be $1,300,000. House prices have actually gone down! The problem is that the value of the dollars we take home has gone down much more.
Today I couldn't afford a $100,000 house much less paying $750,000 for one. If I took a mortgage for $750,000, by the time it is paid for I need to multiply it by 3. When I get the deed I would of paid $2,250,000 for my house, plus all the taxes, required insurance, and whatever comes along with it. No body can afford that! Using the above analogy, your house will never go up in value. It is just doublespeek.
What is a Bank?
1. The slope of land adjoining a body of water, especially adjoining a river, lake, or channel. Often used in the plural.
These banks regulate the flow of current.
2. A business establishment in which money is kept for saving or commercial purposes or is invested, supplied for loans, or exchanged.
These banks regulate the flow of currency.
The Federal Reserve
This is the man with the gun to your head. It ain't federal and there ain't no reserve. The Federal Reserve is the private banking monopoly that controls the flow of currency.
We hear a lot of talk about getting back to "real money" based on gold and silver. That might be hard to do because America has no gold or silver reserves. If there is anything left in Fort Knox, it isn't ours. Brothers and Sisters, it's all gone.
When I go into a bank to borrow $100,000 I will have to sign over my house, land, or personal possessions for the required collateral. This protects the bank in case I am not able to repay the loan, plus interest. In return the bank types $100,000 into my account.
The banking rules allows a bank to lend 10 times the money that it has on deposit. If I took my $100,000 loan and put it in another bank that bank can now lend 1 million dollars out. The money that has to be paid back includes interest. The $100,000 I borrowed was created out of thin air but I also have to pay back the interest. That interest was never created (out of thin air) and I either need to get someone else's money for my payments or I default on my loan.
When interest rates are made artificially low and the banks make credit readily available we enter an economic boom. Money is easily borrowed against collateral and there is a large quantity in circulation. More money in circulation means there is a better chance you will be able to pay back your loans.
When interest rates are increased and banks make loans harder to get they continue to pull in money from payments. This makes less money in circulation and more people are not able to make their payments. The banks start pulling in the reposed businesses and property and America enters a depression. These cycles have nothing to do with nothing except by design of the Federal Reserve banking system. The real wealth is taken from the people and collected by the banksters.
Our government is also in debt to the Fed. Seeing how the government produces not one speck of wealth, how can they pay back the money borrowed? That is easy, the government has signed us and our labor over as collateral for it's loans. Right now (we) the average Joe pay 65% of his income in taxes so the government can make payments to a privet owned banking system that prints money from nothing. We are slaves to this banking monopoly!
I wonder who owns the (our) national parks and federal land?
We think that we hire people to represent us in Washington. We only vote for those that are put up in front of us, because that is all we know. If you think your congress man works for you just contact him and give him the tongue trashing that he deserves. In a couple of months the IRS will be a calling (with the gun to your head). If you happen to have any saving it will be all gone and if you don't they will take a credit card. I know, as it took me two different times in younger years to learn my place. Once, maybe but I don't think twice in 10 years was a coincidence seeing that I only wrote a congressman twice in my life. Both of these fellers got old and are now dead.
How do we get out of this Mess?
This is what happened.
Esias 52:3 For thus saith the Lord, Ye have been sold for nought; and ye shall not be ransomed with silver.
This is the answer.
Deu. 28:12-14 May the Lord open to thee his good treasure, the heaven, to give rain to thy land in season: may he bless all the works of thy hands: so shalt thou lend to many nations, but thou shalt not borrow; and thou shalt rule over many nations, but they shall not rule over thee. 13 The Lord thy God make thee the head, and not the tail; and thou shalt then be above and thou shalt not be below, if thou wilt hearken to the voice of the Lord thy God, in all things that I charge thee this day to observe. 14 Thou shalt not turn aside from any of the commandments, which I charge thee this day, to the right hand or to the left, to go after other gods to serve them.
Either we change our ways or in another 40 years, this nation will look like India, or worse.