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To Preserve…
As mentioned, the uncollected cost of the Revolutionary War led to the inflation of the Continental. Many patriots sold the Continental paper at great discount or gave it away after the War.
Then New York Bank and New York Post founder Alexander Hamilton, as Washington’s first Secretary of the Treasury, redeemed the Continental at Par with silver specie for his friends who knew it would be redeemed and bought it for pennies on the dollar. Hamilton put to rest the saying, Not worth a Continental and was shot to death in a duel with Aaron Burr.
Does this sound like the TARP Bank Bailouts, TELF or PPIP?
Monetary historian Alexander Del Mar, Director of the US Bureau of Statistics, lauded by John Stuart Mill and ignored by history, wrote:
Lexington and Concord were trivial acts of resistance which chiefly concerned those who took part in them and which might have been forgiven; but the creation and circulation of bills of credit…were acts of a whole people and coming as they did on the heels of the strenuous efforts made by the Crown to suppress paper money in America they constituted acts of defiance so contemptuous and insulting to the Crown that forgiveness was thereafter impossible…
There was but one course for the Crown to pursue and that was to suppress and punish those acts of rebellion…Thus the Bills of Credit of this era, which ignorance and prejudice have attempted to belittle into the mere instruments of a reckless financial policy, were really the standards of the Revolution.
They were more than this: they were the Revolution itself.
Of Del Mar John Stuart Mill said:
Del Mar is a remarkable writer. There is stuff in him. He is the sort of man you need in America. He knows what he is about. He is the sort of man to put things right in your country, or in any country.
http://en.wikipedia.org/wiki/Alexander_del_Mar
Concerned about non-usury money in the American Colonies, The London Times wrote:
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February 2nd, 2010 at 4:29 am
Holy Smokes Rich….
Now that was a handful.
This article should be published in the NY Times.
Certainly we are seeing a ground swell in this country stirred by an irate citizenry.
Perhaps it is not to late to take our country back.
God have Mercy.
Keep up the good work Rich, you are a true Patriot.
Thank you. Richard
February 2nd, 2010 at 4:35 pm
Mahalo Richard:
Henry Paulson acknowledged 93% of Americans opposed TARP and he did it anyway, bailing out himself and his firm Goldman Sachs with Ben Bernanke and Timothy Geithner’s help.
No wonder the majority of Americans want a full Audit of the Fed and Treasury, including the Mints and Bullion Vaults.
If we:
A) turn off government monopoly media making heroes out of bums,
B) share the truth which sets us free,
C) help family friends and neighbors vote for Patriotic Constitutional Independents who truly serve US this Fall,
then we may in fact take our country back from bonus banksters and their government corporate welfare pimps.
The alternative is watching the Jericho Wall of debt crush our country and lives like Financial Armageddon.
Uncle Sam owes more than we own. That cannot last much longer.
We must pay down or forgive our debts with a spending freeze on deficits and earmarks and the 1% Transaction Tax on a quadrillion in voluntary transactions.
Andrew Jackson paid off the public debt in 1835. So can we…
Regards*Rich
February 4th, 2010 at 5:03 pm
Rich,
Like the website and all, but a reader needs to click 22 separate times simply to read the content of this entry. Perhaps a different format would be better?
Cheers.
February 24th, 2010 at 6:15 pm
Thanks clicks.
Took it up with the management.
Regards*Rich