In the era of President Andrew Jackson, there was a dismantling of the National Bank. This is a viable source of information for the publius at this time of Obama regime rapine of the debt of America, for in this issue, we have Andrew Jackson, the Democrat, against a Whig in the Congress, in Abraham Lincoln, the first elected Republican on this issue.
In examining this crafty issue of finance, I have taken great store in President Theodore Roosevelt's assessments of the issue, in castigating Andrew Jackson's Administration, but never really laying out the pros and cons of it.
Instead President Roosevelt would rise in his Administration to create the Federal Reserve, while making light of the "money interests" which Senator Thomas Hart Benton of Missouri always warned of and of which Senator Benton also warned of foreign ownership of the National Bank of These United States, as was the reality in 1830's America.
My one purpose here is to teach and not to make judgments of condemnation, for in reality, this was a political issue which tampered with the money supply, and it cost an immense economic bubble in America which caused at the end of the Jackson Administration, the first real super depression in America.
My purpose here is to expound opon that which is right and necessary on both sides and to expose that which is wrong and evil on both sides of this, as America is being looted of debt in this Obama regime from tax robbery, to gas pump extortion, to Treasury piracy, all in bribes to Wall Street investors and welfare recipients to keep a mob revolt from taking place as America has been destroyed.
For Andrew Jackson and Thomas Hart Benton, the situation was that the banks were running a scheme against the America people in "bank drafts". America being a large nation at that time, the scheme was someone in a branch bank could obtain this artificial currency and go to another part of the country and take forever to pay it at that branch.
Think of this as the first derivitives scheme in America by foreign interest.
President John Adams, the Federalist, detested usury or interest from banks, as it does nothing but siphon money off of the Citizen for no work. The Federalists would become the Whigs who Mr. Lincoln was at that time in Congress, and Mr. Lincoln was speaking of the need for usury of Treasury money in the National Bank, for the government to collect funds.
The National Bank was the invention of Alexander Hamilton, and in Theodore Roosevelt simplicity, it was a bank which the Government of America could deposit and withdraw funds. Deposit surpluses and in time of war, withdraw funds or a project like the Panama Canal which President Roosevelt constructed, could withdraw those funds the Government did not have, all of the purpose of not raising immense taxes on the Citizen, and thereby pay off that loan over a period of years in responsible tax asset and debt management. Meaning no new debts would be incurred to increase that debt to exorbatant levels.
That is the good of the National Bank.
The problem in Andrew Jackson's era as Democrats witnessed this in the money powers, was that these worthless bank drafts were in circulation, helping of course the financiers who could loot the system in being connected, they could go in an buy up large tracts of Government wilderness lands for speculation for example, which kept prices inflated agains the poor person starting out and wanting a home and occupation from raising grain to raising livestock.
This is a completely valid point and it resembles the money structure in America now in the real estate speculation.
The work of Senator Benton though with the Jackson Adminstration though was setting the stage for the Homestead Act which was built upon the process of having an acre of land available to the public to exploit by the plough for a home land at $1.25 an acre. This money was then flowing to the national Treasury to pay Government operations.
What must be visited in this, is that the Jackson Administration did divest itself of the National Bank and it was accomplished chiefly by the arrogant head of that bank, making up all sorts of stories which were false.
The short point is, the moneys then in that bank were argued over and Congress passed another bad law for turning that money over to district banks where it would then be kept and invested.
Without a respsonsible centralized control, which Democrat Thomas Hart Benton warned over, as he did not want this money dumped into the states, what took place was the first bubble in America, where millions of dollars in that era ended up in local banks, where cronies then handed out risky loans to their cronies, and with all that free credit, inflation spiked, investment skyrocketed and over produced the population, and the net result as always is the case with capitalism, a major contraction took place in the economy and a depression occurred.
Exactly as the designed 2008 contraction took place by financiers offshore to install the foreign agent Birther Hussein Obama. This was further compounded by the Obama Constriction or strangulation of the 2009 George W. Bush recovery due to a money bailout, exactly as Franklin Delano Roosevelt compounded the Great Depression of 1929 to further install the FDR social progams to create future generations of regime wards at the voting box.
That side bar is of not value in this discussion, but it is added to reveal how this process repeats and is criminally repeated.
The Obama regime has been money dumping in bubbles from Wall Street, stimulus, welfare to awards to European financial systems, the last of which is completely illegal in aid to foreign regimes in Europe and the first in manipulation of the Stock Market by e money generated by Sec. of the Treasury Timothy Geithner is another criminal act in creating stock bubbles in order to keep the rich mob from revolt, and to make the regime a gleaner of funds from the Stock Market.
On that understanding we come back to the Abraham Lincoln speech in Congress. Mr. Lincoln focused on two issues in the first if the Government of Andrew Jackson only accepted money in specie or gold and silver in their Sub Treasury which would act like a National Bank, that it would pull over half the hard money out of America each year, and thereby put it in the hands of the cronies who would make that money rare and expensive compared to paper currency.
In that, the Sub Treasury would then not loan that money out on usury, to make money for the Government, and that means also that the money supply would shrink by half. In simple terms as Abraham Lincoln explained, a person could buy a horse for 100 dollars, but when half the money was removed from circulation, that horse would the drop in value to 50 dollars as the value of the dollar doubled in there was less money in circulation.
This would mean the man would still owe 50 dollars more than what he could pay, the creditor still owed, but both would lose the 50 dollars due to deflation.
Abraham Lincoln correctly explains this situation would work itself out, as it did in the deflation of the President Ronald Reagan Administration, but the focus was on how exactly in the Obama regime, in his money dumps, that real estate in houses was not allowed to deflate to market levels, after the Super Depression took the bottom out of the inflated market in people were buying homes without the ability to pay for them.
This same no money down is what crashed the Stock Market in 1929 in people with no money were buying stocks on debt credit and had no ability pay for them, but the JP Morgan types were taking that money in, and still had it when the crash was staged.
An exact replay of the Obama criminal enterprise of 2009 in which investor houses were sold to the large finance firms for pennies on the dollar, and the American people were left holding that immense debt.
Now that the entire structure of pros cons and happenings has been laid, an understanding of how to proceed through the 21st century destruction of America is there between the two schemes.
What President Theodore Roosevelt set up was the Federal Reserve as a Sub Treasury, but in a form he trusted, but has been exploited worse than what President Jackson warned of with Senator Benton by the money powers.
One must understand that fractal or Dutch Banking as expounded upon by the London financiers, who were Ashkenaz Rothschilds and still are, are in the business of making money. Do not pass over that, as banking is a business designed to make money, and banks do this by usury or interest on money loaned.
In the Federal Reserve scheme in America, the money has no specie or gold and silver banking. The Federal Reserve which is foreign controlled by the Ashkenaz Rothschilds, prints money or now creates it by Tim Geithner in electronic funds, with absolutely nothing backing it up but the "good word of the United States".
All nations are then using the dollar as a common currency worldwide, and in that the Federal Reserve runs this Ponzi Scheme, as the money powers all get a cut out of this. The more money in circulation is the more money on interest the financiers are taking in in interest, without one thing produced.
As the money supply increases as was the case in the 15 trillion Obama regime money dump, inflation rises, meaning the Citizen's assets are robbed by higher food and fuel prices, and their equity in homes and cars is taken from them, as so much money makes their property cheap in it requires more money to buy them, exactly as President Lincoln warned of.
What President Theodore Roosevelt envisioned was a stable money supply, backed by precious metals, to make war or public projects with, and no massive tax increases.
What President Franklin Delano Roosevelt accomplished was taking that system, and making it a debtor system in which taxes were raised, and confiscated, distributed by the government to cronies, and you would know that as the beginning of the era of the Military Industrial Complex and the Lyndon Johnson welfare state.
Both confiscatory enteprises which rewarded the money powers and robbed the American people blind.
It was then in this expanded money supply of Lyndon Johnson, at the end of his tenure, that a massive constriction took place which President Richard Nixon attempted to thwart by price controls. One must understand that President Lyndon Johnson's war in Vietnam, Moon shots, and war on poverty, took too much money out and put in too much money in dumps into the economy, so prices inflated.
Richard Nixon at that time was presented a price control scheme of linking the value of the dollar to the price of Mideast oil. This became a disaster in a legalized way to rob America, as the price of oil kept climbing and the value of the dollar kept being lowered.
It created then the super state bubbles of Japan and North Korea in production, which were burst and those nations robbed of those assets.
This is the 21st century America under the piracy of the Obama regime in their Quantum Easing 1, 2, 3 and all of this scheme to price Americans out of property ownership which is an absolute of the Thomas Jefferson Republican Democracy.
What I will that people would learn first is that America is no longer controlled by Democrats or Republicans of good intentions as in Lincoln or Jackson. The Americans who attempted to "fix" things as in Thomas Hart Benton and Theodore Roosevelt, have had the system rigged against their pro business and Citizen interests.
Americans like Lyndon Johnson and Richard Nixon in their further attempts to right financial wrongs, were lured into a most heinous debt system, which was the basis of socialists Woodrow Wilson and Franklin Delano Roosevelt in war and money manipulations with foreign interests and New York finance to gain control over America.
America under the Obama regime is not so much a Marxist state, but is what this blog has exclusively exposed in a SOCIO CONGLOMERATE management of the masses in a global feudal state. The Obama regime creates massive debt, and with that debt the money is used to bribe politicians or regime employees, or used to fund intelligence groups to blackmail the political and industrial structure, or is used to assassinate Andrew Breitbart newsbreakers who would expose this system and bring it down.
When one blackmails with threats of imprisonment or murder, the cartel controls those who will not submit to bribes so one has Chief Justice John Roberts illegally turning America over to Obamacare rationed death or Sarah Palin taking gain from FOX propaganda employment as those like Nancy Pelosi flutter their eyelids on enriched by this Socio Conglomerate.
There is now so much money in supply that the American dollar is worth pennies. I have stated a decade ago, that there is not an "economy" operating anywhere in the world any longer, as it is all this management of fiction looting the world and enslaving the masses to that power structure.
The solution would be to shut off the money supply, but that would cause a global depression and wars to be exploited by, by the money powers again, as they fully intend to do, to seize power and "wipe out the debt", they have used a tool to gain control of Continents.
The reality in this is simple. The American debt was created not by the American people. It was created when foreign financiers with international financiers in America, namely the names on the Federal Reserve in the Rothschilds and the JP Morgan & Rockefeller group, seized American finance.
I WILL STATE THIS PLAINLY, that the American debt is DC DEBT, and should be viewed as District Debt and placed completely on the criminal enterprise of the agents of the Federal Reserve and their money power owners.
This group has in their coffers the trillions of dollars looted from America. That money did not disappear. They are criminal pirates and should be by the American people cut to the wind and the collection agents of sundry regime sponsored intelligensia as the Chicom PLA and Russian KGB.
The Treasury debt is a Treasury balance in the money powers accounts. They looted the United States Treasury in an act of economic war and they should be collected upon to right the system.
The Federal Reserve should be ended, and replaced again by a Sub Treasury. The main Treasury allowed to only create hard and soft currency for economic means with a Lincoln type Promissary note of definite expiration in large denominations for prosecution of wars and projects necessary to America, with definitive mortgage year ends, and not perpetual debt against the American Citizen to be robbed by.
The Sub Treasury would then take in moneys by taxes, and resolutely only pay out that money for real debt. The Sub would not "loan money to the American people", for it was their money in the first place, and would instead monitor money supply through branch Treasury banks, who would then at payable levels loan money to the populace to keep those moneys in circulation as Abraham Lincoln spoke of in Congress.
Congress could tax money to gain it and Congress could spend money in appropriations, but in this check and balance the President through the Treasury, would take in only real money to the Sub Treasury, and the Treasury could only create money to reflect supply in assets of the American Nation. This check and balance literally in the Treasury would check and balance the taxing and spending of Congress, and by being "seperate" in the Executive from the President would not be subject to money dumps by the Executive.
None of this would be easy, as George W. Bush found out in 2008 when these money powers waged war on his administration. While it was not the Dallas of John F. Kennedy in his Kennedy Treasury dollars, it effectively decapititated the American Government to the Obama regime criminal enterprise.
One could definitely expect the same Super Depression unleashed to global wars as is being planned, as the financiers of the European aristocracy are not going to simply go away. It was though the cutting loose of American debt to financier accounts and allowing the PLA and KGB extraction rights for their own piracy, which would give the Rothschilds something to be concerned of, so they would not have complete focus in how to undo these corrective measures.
The United States should have a chartered Sub Treasury or National Bank for responsible lending to the Government for wars and projects, but not in perpetual debt. The moneys should be in circulation for affordable money to the people, and yes deflation should be unleashed for the majority of people as it increases their value of savings and does not protect the investors who have priced Americans out of their homes.
There should be a dual hard and soft currency for America in assets. Money supply should be tightened in the trillions over a decade to increase the value of the US Dollar again to full 100 cent status. The Citizen might complain their 100,000 dollar home drops to correct levels of 10,000 dollars, but that same Citizen will again be buying groceries for the entire month for 40 dollars, instead of 400 dollars and filling their gas tanks for 10 dollars instead of 100.
Real economic forces must be again applied, for if they were in operation this criminality of debt would not have robbed Americans. Nothing good will come of the current system as nothing good was intended as it has been robbing Americans and the world for a century.
You at least though now have a workable layman synopsis of the historic causes and how this has all been exploited against you in a Milton Freidman way of explanation and understanding.
All of this can be fixed. The criminals behind it though along with their regime accomplices must be exposed to the pluribus at large. There should not be a need to prosecute as the regimes around the globe have satisfactory thugs in their intelligence networks to collect on that debt.
It is a Lame Cherry exclusive in matter anti matter. The reality is this entire system will by stage implode, and you will experience the extremes of it. The connected rich will become richer and the rich will have their moneys confiscated. There is too much money and not any value to place it to hold it's price, as people are outpriced of food and homes.
Theodore Roosevelt was naive as was Ronald Reagan in his free trade zones which were exploited to the money powers interest. The remedies of Andrew Jackson created a blueprint disaster which Woodrow Wilson, Franklin Roosevelt and Birther Hussein Obama Chin unleashed on America for the money power interests.
The problem is not the Democrat of Jackson or the Republican of Lincoln. It is the corrupt moneychangers as nothing, including Government works with fiends in charge of it.
The best solution is to expose the criminal money powers. Inform the competing debt holders, that their money is there, and America was robbed by them, and allow that collection agent withdraw it by thug extraction, while America embarks again on a correct money supply, correct chartered banking system, with honest people, made honest in the reality that a hangman's noose is available by the lynch mob, if the piracy repeats.
None of this Obama regime rapine by nation rapists Warren Buffett and George Soros is new. It was all taking place in bubbles and corrupt banking in the era of Andrew Jackson and Abraham Lincoln with the same draconian effects.
You wealthy people really owe this blog and should be making those hundreds of thousands of dollar donations to this blog for your benefit, as I am the only protecting force for the value of that wealth. Keep hitting that donate button until it works.
All of the above should be saved, printed up and studied by you and your caste, for further education beyond your speed reading, as no one has explained the above in terms this understandable.
The above is a univesity doctorate in finance and banking history of America. In 21st century, Ivy League costs that would be 280,000 dollars you just received, along with saving you 14 years of your lives, all in thirty minutes of reading, if you could comprehend what you have read.
nuff said
agtG
Abraham Lincoln's speech on American finances.
SPEECH ON NATIONAL BANK
IN THE HALL OF THE HOUSE OF REPRESENTATIVES
SPRINGFIELD, ILLINOIS, December 20, 1839.
FELLOW-CITIZENS:--It is peculiarly embarrassing to me to attempt a
continuance of the discussion, on this evening, which has been conducted
in this hall on several preceding ones. It is so because on each of
those evenings there was a much fuller attendance than now, without any
reason for its being so, except the greater interest the community feel
in the speakers who addressed them then than they do in him who is to do
so now. I am, indeed, apprehensive that the few who have attended
have done so more to spare me mortification than in the hope of being
interested in anything I may be able to say. This circumstance casts
a damp upon my spirits, which I am sure I shall be unable to overcome
during the evening. But enough of preface.
The subject heretofore and now to be discussed is the subtreasury scheme
of the present administration, as a means of collecting, safe-keeping,
transferring, and disbursing, the revenues of the nation, as contrasted
with a national bank for the same purposes. Mr. Douglas has said that we
(the Whigs) have not dared to meet them (the Locos) in argument on this
question. I protest against this assertion. I assert that we have again
and again, during this discussion, urged facts and arguments against
the subtreasury which they have neither dared to deny nor attempted to
answer. But lest some may be led to believe that we really wish to avoid
the question, I now propose, in my humble way, to urge those arguments
again; at the same time begging the audience to mark well the positions
I shall take and the proof I shall offer to sustain them, and that they
will not again permit Mr. Douglas or his friends to escape the force of
them by a round and groundless assertion that we "dare not meet them in
argument."
Of the subtreasury, then, as contrasted with a national bank for the
before-enumerated purposes, I lay down the following propositions, to
wit: (1) It will injuriously affect the community by its operation on
the circulating medium. (2) It will be a more expensive fiscal agent.
(3) It will be a less secure depository of the public money. To show
the truth of the first proposition, let us take a short review of our
condition under the operation of a national bank. It was the depository
of the public revenues. Between the collection of those revenues and the
disbursement of them by the government, the bank was permitted to and
did actually loan them out to individuals, and hence the large amount of
money actually collected for revenue purposes, which by any other
plan would have been idle a great portion of the time, was kept almost
constantly in circulation. Any person who will reflect that money is
only valuable while in circulation will readily perceive that any device
which will keep the government revenues in constant circulation, instead
of being locked up in idleness, is no inconsiderable advantage. By the
subtreasury the revenue is to be collected and kept in iron boxes until
the government wants it for disbursement; thus robbing the people of the
use of it, while the government does not itself need it, and while the
money is performing no nobler office than that of rusting in iron boxes.
The natural effect of this change of policy, every one will see, is
to reduce the quantity of money in circulation. But, again, by
the subtreasury scheme the revenue is to be collected in specie. I
anticipate that this will be disputed. I expect to hear it said that
it is not the policy of the administration to collect the revenue
in specie. If it shall, I reply that Mr. Van Buren, in his message
recommending the subtreasury, expended nearly a column of that document
in an attempt to persuade Congress to provide for the collection of the
revenue in specie exclusively; and he concludes with these words:
"It may be safely assumed that no motive of convenience to the citizens
requires the reception of bank paper." In addition to this, Mr.
Silas Wright, Senator from New York, and the political, personal and
confidential friend of Mr. Van Buren, drafted and introduced into the
Senate the first subtreasury bill, and that bill provided for ultimately
collecting the revenue in specie. It is true, I know, that that clause
was stricken from the bill, but it was done by the votes of the Whigs,
aided by a portion only of the Van Buren senators. No subtreasury
bill has yet become a law, though two or three have been considered by
Congress, some with and some without the specie clause; so that I
admit there is room for quibbling upon the question of whether the
administration favor the exclusive specie doctrine or not; but I take it
that the fact that the President at first urged the specie doctrine,
and that under his recommendation the first bill introduced embraced it,
warrants us in charging it as the policy of the party until their head
as publicly recants it as he at first espoused it. I repeat, then, that
by the subtreasury the revenue is to be collected in specie. Now mark
what the effect of this must be. By all estimates ever made there are
but between sixty and eighty millions of specie in the United States.
The expenditures of the Government for the year 1838--the last for which
we have had the report--were forty millions. Thus it is seen that if the
whole revenue be collected in specie, it will take more than half of all
the specie in the nation to do it. By this means more than half of all
the specie belonging to the fifteen millions of souls who compose the
whole population of the country is thrown into the hands of the public
office-holders, and other public creditors comprising in number perhaps
not more than one quarter of a million, leaving the other fourteen
millions and three quarters to get along as they best can, with less
than one half of the specie of the country, and whatever rags and
shinplasters they may be able to put, and keep, in circulation. By
this means, every office-holder and other public creditor may, and
most likely will, set up shaver; and a most glorious harvest will the
specie-men have of it,--each specie-man, upon a fair division, having to
his share the fleecing of about fifty-nine rag-men. In all candor let me
ask, was such a system for benefiting the few at the expense of the many
ever before devised? And was the sacred name of Democracy ever before
made to indorse such an enormity against the rights of the people?
I have already said that the subtreasury will reduce the quantity of
money in circulation. This position is strengthened by the recollection
that the revenue is to be collected in Specie, so that the mere amount
of revenue is not all that is withdrawn, but the amount of paper
circulation that the forty millions would serve as a basis to is
withdrawn, which would be in a sound state at least one hundred
millions. When one hundred millions, or more, of the circulation we
now have shall be withdrawn, who can contemplate without terror the
distress, ruin, bankruptcy, and beggary that must follow? The man
who has purchased any article--say a horse--on credit, at one hundred
dollars, when there are two hundred millions circulating in the country,
if the quantity be reduced to one hundred millions by the arrival of
pay-day, will find the horse but sufficient to pay half the debt; and
the other half must either be paid out of his other means, and thereby
become a clear loss to him, or go unpaid, and thereby become a clear
loss to his creditor. What I have here said of a single case of the
purchase of a horse will hold good in every case of a debt existing at
the time a reduction in the quantity of money occurs, by whomsoever, and
for whatsoever, it may have been contracted. It may be said that
what the debtor loses the creditor gains by this operation; but on
examination this will be found true only to a very limited extent. It is
more generally true that all lose by it--the creditor by losing more of
his debts than he gains by the increased value of those he collects; the
debtor by either parting with more of his property to pay his debts
than he received in contracting them, or by entirely breaking up his
business, and thereby being thrown upon the world in idleness.
The general distress thus created will, to be sure, be temporary,
because, whatever change may occur in the quantity of money in any
community, time will adjust the derangement produced; but while that
adjustment is progressing, all suffer more or less, and very many lose
everything that renders life desirable. Why, then, shall we suffer a
severe difficulty, even though it be but temporary, unless we receive
some equivalent for it?
What I have been saying as to the effect produced by a reduction of the
quantity of money relates to the whole country. I now propose to
show that it would produce a peculiar and permanent hardship upon the
citizens of those States and Territories in which the public lands lie.
The land-offices in those States and Territories, as all know, form the
great gulf by which all, or nearly all, the money in them is swallowed
up. When the quantity of money shall be reduced, and consequently
everything under individual control brought down in proportion, the
price of those lands, being fixed by law, will remain as now. Of
necessity it will follow that the produce or labor that now raises money
sufficient to purchase eighty acres will then raise but sufficient
to purchase forty, or perhaps not that much; and this difficulty and
hardship will last as long, in some degree, as any portion of these
lands shall remain undisposed of. Knowing, as I well do, the difficulty
that poor people now encounter in procuring homes, I hesitate not to say
that when the price of the public lands shall be doubled or trebled, or,
which is the same thing, produce and labor cut down to one half or one
third of their present prices, it will be little less than impossible
for them to procure those homes at all....
