Paper money (Stjórnarskrá peningana - Constitution - Of money jg)


(Stjórnarskpeningana Constitution - Of money jg)

Paper money

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Egilsstađir, 05.12.2014 Jónas Gunnlaugsson



Hidden History: According to Benjamin Franklin, the real reason for the Revolutionary War has been hid from you

Our Founding Fathers knew that without financial independence and sovereignty there could be no other lasting freedoms.  Our freedoms and national sovereignty are being lost because most people do not understand our money system.

On to the Revolutionary War....

Before the war, the colonies sent Benjamin Franklin to England to represent their interests.  Franklin was greatly surprised by the amount of poverty and high unemployment.  It just didn't make sense, England was the richest country in the world but the working class was impoverished, he wrote “The streets are covered with beggars and tramps.”  

It is said that he asked his friends in England how this could be so, they replied that they had too many workers.  Many believed, along with Mathus, that wars and plague were necessary to rid the country from man-power surpluses.

“We have no poor houses in the Colonies; and if we had some, there would be nobody to put in them, since there is, in the Colonies, not a single unemployed person, neither beggars nor tramps.”  - Benjamin Franklin


(Stjórnarskrá - peningana  -- Constitution - Of money jg)

He was asked why the working class in the colonies were so prosperous.

That is simple. In the Colonies, we issue our own paper money. It is called ‘Colonial Scrip.’ We issue it in proper proportion to make the goods and pass easily from the producers to the consumers. In this manner, creating ourselves our own paper money, we control its purchasing power and we have no interest to pay to no one.”  - Benjamin Franklin


Soon afterward, the English bankers demanded that the King and Parliament pass a law that prohibited the colonies from using their scrip money.  Only gold and silver could be used which would be provided by the English bankers.  This began the plague of debt based money in the colonies that had cursed the English working class.

The first law was passed in 1751, and then a harsher law was passed in 1763.  Franklin claimed that within one year, the colonies were filled with unemployment and beggars, just like in England, because there was not enough money to pay for the goods and work. The money supply had been cut in half.



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