MARCH 31
1980 – CONGRESS PASSES MONETARY CONTROL ACT
Popularly known as the Depository Institutions Deregulation and Monetary Control Act of 1980. The Federal Reserve Board of Governors was provided with increased control over monetary policy and non-member financial institutions – requiring all financial institutions to follow Federal Reserve (a mostly private institution) regulations.
APRIL 3
1729 – PUBLICATION OF “A MODEST ENQUIRY INTO THE NATURE AND NECCESITY OF A PAPER CURRENCY” BY BENJAMIN FRANKLIN
The “father of paper money” and a printer, Franklin’s publication circulated throughout the colonies. He was a strong advocate of colonies printing their own money. The publication helped him earn contracts to print paper money for Pennsylvania, New Jersey and Delaware.
"A legitimate government can both spend and lend money, while banks can only lend significant amounts of their promissory bank notes. Thus when bankers place money in circulation there is always a debt principal to be returned and usury to be paid."
SPECIAL ANNOUNCEMENT — FOR THOSE WHO LIVE IN NORTHEAST OHIO
Monday, April 11: Workshop on Public Forum on Democratizing our Money System featuring Stephen Zarlenga, Director, American Monetary Institute, 7 PM, Peace House, 10916 Magnolia Ave., University Circle, Cleveland.
Zarlenga and the American Monetary Institute have worked with Rep. Kucinich on the National Emergency Employment Defense Act. Details of the April 11 program at http://www.afsc.net/PDFFiles/ZarlengaFlyer.pdf
Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt?
Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice.
This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini and Greg Coleridge helped in its development.
Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, contact monetarycalendar@yahoo.com For more information, visit http://www.afsc.net/economiccrisis.html
Sunday, March 27, 2011
Thursday, March 24, 2011
Different problems. The same solution.
Trying to keep up with, let alone respond to, the staggering number and severity of problems in our communities, state, nation and world is virtually impossible. The threats -- whether political, economic, or environmental -- are real, imminent and severe. They numb the mind, paralyze the body, and stunt the soul.
Many of the our most series current problems...
Be they local budget crises
The Ohio budget crisis
Or the federal
Efforts to “privatize” Ohio’s prisons
And the Ohio Department of Development
Drilling or “fracking” for oil or gas in our state parks
Or in our back yards
Wars and occupations for oil
Or oil spills
Buying elections
And politicians
Radiation releases
Home foreclosures
Exponentially increasing public debts
Attacks on the rights of people to collectively bargain
(Any other pressing economic, political and environmental problem here)...
Spring, derive, emanate and originate from a single source:
Business corporations, almost always very large business corporations, exerting their influence.
Their authority.
Their power.
Their supposedly “inalienable” constitutional “rights.”
There are, of course, other factors that contribute to the aforementioned problems.
But arguably no other single factor has been more responsible for these problems through, by and because of...
- Corporate political contributions.
- Corporate lobbying.
- Corporate political advertising.
- Corporate influence in writing laws and regulations directed at corporations.
- Corporate mobility that, by playing one community, state or nation against each other, exert leverage for favorable tax breaks, funding, incentives, guarantees, and protections
- Corporate placement of chain stores, toxic dumps and drilling pads protected by constitutional 14th amendment “equal protection” rights that trump local and/or state rights — which hurt local economies, environments and self-determination.
- Corporate takeover of many of our public assets and services, including the license to print money.
The list goes on.
And on.
And on.
Corporations were never intended to possess political, economic or constitutional powers and rights.
Corporations are legal creations of the state. They wouldn’t exist and couldn’t function with their legal protections unless governments shielded them.
Such protections in the past came with a condition — a democratic condition:
Public control and definition through the corporate charter (issued mostly at the state level) that specifically defined their parameters. Early in our history, those parameters included a prohibition against anything directly or indirectly related to political influence and governing.
That was until corporate agents won rights and powers in our constitution that were reserved exclusively for human beings.
- Inalienable rights.
- “Personhood” rights.
- Rights “found” in the constitution for corporations by Supreme Court Justices that were never intended.
Talk about “judicial activism!”
Corporations should possess certain protections to conduct their business.
But only by statute.
Only by laws passed by We the People and representatives after debate and discussion.
Only to the extent people and elected representatives feel comfortable with.
Such protections shouldn’t be equal to, let alone surpass, the rights of people.
The created should never be more powerful than the creator.
Only humans have inalienable Bill of Rights and other constitutional rights.
So what do we do?
What can we do?
How do we prioritize?
Where do we place our limited time, energy and resources?
Especially when problems, crises and chaos seem to be coming from all directions?
Three suggestions:
1. Recognize and internalize that many of the different problems we face derive from the single source of never intended corporate constitutional rights. If this means you say to yourself every morning while eyes closed and tapping your shoes together “Corporations are not people” then do it,
2. Continue to educate, advocate and/or organize on the problem(s) you care most about. As you do so make the connections to corporate constitutional rights. Acknowledge and publicly proclaim at least in part why the problem(s) you care about spring, derive, emanate and originate from corporate power and rights. This also requires that you shift some of your time, energy and resources (10%? 15%? 50%? That’s your decision.) away from responding, reacting and resisting to these manifestations of corporate rights. Time to act, proact, create and initiate by...
3. Working to directly end corporate rule. Become involved in Move to Amend, the national (movetoamend.org) and state (movetoamendohio.org) movement to amend the US Constitution to abolish corporate “personhood” and legalize democracy.
The three tenets of Move to Amend are:
- Corporations are not persons and have no inherent inalienable human rights under the Constitution.
- Money is not speech. Money is concentrated capital and it cannot speak.
- Communities have the right to protect our land, our environment, our homes, our health, and all of our citizens — children, elders, workers, the sick and the poor — against actions to overturn democratically enacted laws. Corporations cannot use our democratically enacted laws against us.
If you agree with these, become involved.
How?
Six suggestions.
1. Educate yourself. Many resources are at http://movetoamend.org/ and http://www.movetoamendohio.org/ (under Documents)
2. Sign the national petition to abolish corporate rights online at http://movetoamend.org/ More than 106,000 people have already done so.
3. Download and circulate the Move to Amend petition to your friends, co-workers, neighbors, etc. The petition is at http://www.movetoamendohio.org/files/MTA-Petition.pdf
4. Organize a meeting in your home and/or community on abolishing corporate constitutional rights. Circulate resources from the aforementioned websites. Invite a speaker.
5. Get organizations you are connected with to endorse Move to Amend. The Endorsement Form is at http://www.movetoamendohio.org/files/EndorsementForm.pdf
6. Become connected to Move to Amend Ohio. Join our monthly conference calls. Get active.
The solution to maintaining a healthy psyche as well as being political relevant and prophetic is developing a balance between reacting and responding to pressing problems that cry out for immediate attention and creating and initiating alternatives that address root causes.
This is a long haul struggle transcending current state or federal political administrations or can be fixed by changing a few faces or a political party.
It’s structural.
Nothing short of a social movement is required. It’s happened in other times, in other places and on other concerns as daunting as this one.
It’s now our turn.
It’s now our time.
Many of the our most series current problems...
Be they local budget crises
The Ohio budget crisis
Or the federal
Efforts to “privatize” Ohio’s prisons
And the Ohio Department of Development
Drilling or “fracking” for oil or gas in our state parks
Or in our back yards
Wars and occupations for oil
Or oil spills
Buying elections
And politicians
Radiation releases
Home foreclosures
Exponentially increasing public debts
Attacks on the rights of people to collectively bargain
(Any other pressing economic, political and environmental problem here)...
Spring, derive, emanate and originate from a single source:
Business corporations, almost always very large business corporations, exerting their influence.
Their authority.
Their power.
Their supposedly “inalienable” constitutional “rights.”
There are, of course, other factors that contribute to the aforementioned problems.
But arguably no other single factor has been more responsible for these problems through, by and because of...
- Corporate political contributions.
- Corporate lobbying.
- Corporate political advertising.
- Corporate influence in writing laws and regulations directed at corporations.
- Corporate mobility that, by playing one community, state or nation against each other, exert leverage for favorable tax breaks, funding, incentives, guarantees, and protections
- Corporate placement of chain stores, toxic dumps and drilling pads protected by constitutional 14th amendment “equal protection” rights that trump local and/or state rights — which hurt local economies, environments and self-determination.
- Corporate takeover of many of our public assets and services, including the license to print money.
The list goes on.
And on.
And on.
Corporations were never intended to possess political, economic or constitutional powers and rights.
Corporations are legal creations of the state. They wouldn’t exist and couldn’t function with their legal protections unless governments shielded them.
Such protections in the past came with a condition — a democratic condition:
Public control and definition through the corporate charter (issued mostly at the state level) that specifically defined their parameters. Early in our history, those parameters included a prohibition against anything directly or indirectly related to political influence and governing.
That was until corporate agents won rights and powers in our constitution that were reserved exclusively for human beings.
- Inalienable rights.
- “Personhood” rights.
- Rights “found” in the constitution for corporations by Supreme Court Justices that were never intended.
Talk about “judicial activism!”
Corporations should possess certain protections to conduct their business.
But only by statute.
Only by laws passed by We the People and representatives after debate and discussion.
Only to the extent people and elected representatives feel comfortable with.
Such protections shouldn’t be equal to, let alone surpass, the rights of people.
The created should never be more powerful than the creator.
Only humans have inalienable Bill of Rights and other constitutional rights.
So what do we do?
What can we do?
How do we prioritize?
Where do we place our limited time, energy and resources?
Especially when problems, crises and chaos seem to be coming from all directions?
Three suggestions:
1. Recognize and internalize that many of the different problems we face derive from the single source of never intended corporate constitutional rights. If this means you say to yourself every morning while eyes closed and tapping your shoes together “Corporations are not people” then do it,
2. Continue to educate, advocate and/or organize on the problem(s) you care most about. As you do so make the connections to corporate constitutional rights. Acknowledge and publicly proclaim at least in part why the problem(s) you care about spring, derive, emanate and originate from corporate power and rights. This also requires that you shift some of your time, energy and resources (10%? 15%? 50%? That’s your decision.) away from responding, reacting and resisting to these manifestations of corporate rights. Time to act, proact, create and initiate by...
3. Working to directly end corporate rule. Become involved in Move to Amend, the national (movetoamend.org) and state (movetoamendohio.org) movement to amend the US Constitution to abolish corporate “personhood” and legalize democracy.
The three tenets of Move to Amend are:
- Corporations are not persons and have no inherent inalienable human rights under the Constitution.
- Money is not speech. Money is concentrated capital and it cannot speak.
- Communities have the right to protect our land, our environment, our homes, our health, and all of our citizens — children, elders, workers, the sick and the poor — against actions to overturn democratically enacted laws. Corporations cannot use our democratically enacted laws against us.
If you agree with these, become involved.
How?
Six suggestions.
1. Educate yourself. Many resources are at http://movetoamend.org/ and http://www.movetoamendohio.org/ (under Documents)
2. Sign the national petition to abolish corporate rights online at http://movetoamend.org/ More than 106,000 people have already done so.
3. Download and circulate the Move to Amend petition to your friends, co-workers, neighbors, etc. The petition is at http://www.movetoamendohio.org/files/MTA-Petition.pdf
4. Organize a meeting in your home and/or community on abolishing corporate constitutional rights. Circulate resources from the aforementioned websites. Invite a speaker.
5. Get organizations you are connected with to endorse Move to Amend. The Endorsement Form is at http://www.movetoamendohio.org/files/EndorsementForm.pdf
6. Become connected to Move to Amend Ohio. Join our monthly conference calls. Get active.
The solution to maintaining a healthy psyche as well as being political relevant and prophetic is developing a balance between reacting and responding to pressing problems that cry out for immediate attention and creating and initiating alternatives that address root causes.
This is a long haul struggle transcending current state or federal political administrations or can be fixed by changing a few faces or a political party.
It’s structural.
Nothing short of a social movement is required. It’s happened in other times, in other places and on other concerns as daunting as this one.
It’s now our turn.
It’s now our time.
Monday, March 21, 2011
MONETARY HISTORY CALENDAR March 21-27
MARCH 21
1975 – DEATH OF RALPH HAWTREY, BRITISH ECONOMIST, FRIEND OF JOHN MAYNARD KEYNES
“Banks lend by creating credit. They create the means of payment out of nothing.”
MARCH 22
1832 – DEATH OF JOHANN WOLFGANG VON GOETHE, GERMAN WRITER
“None are more enslaved than those who falsely believe they are free.”
MARCH 25
1894 – COXEY’S ARMY BEGINS MARCH
Jacob Coxey, a businessman from Massillon, Ohio organized a 500-strong “Coxey’s Army” march from Massillon (beginning on March 25, 1894) to Washington, D.C. (ending April 30) to promote federal intervention for job creation. The primary demand of this "petition in boots" was unique -- the direct printing and issuance of $500 million by the Federal Treasury to employ 4 million people.
Coxey's Army proposed two bills. The first, a "Good Roads Bill," would help farmers through $500 million issued by the federal government in legal tender notes, or greenbacks, to construct rural roads. The second, a noninterest-bearing bonds bill, would empower state and local governments to issue noninterest-bearing bonds to be used to borrow legal tender notes from the federal treasury. This money would be used to build urban libraries, schools, utility plants and marketplaces.
Millions of jobs would have been created -- debt-free.
NOTE: Rep. Dennis Kucinich has proposed a modern-day — but more sweeping — equivalent to the proposals of Coxey’s Army. One of the centerpieces of the National Emergency Employment Defense Act (HR 6550 in the last Congress, soon to be reintroduced in this Congressional session) is the issuance of interest- and debt-free government money to employ people to address the serious physical and social infrastructure needs in this country.
Article on Kucinich bill: http://moneyreform.wordpress.com/2011/01/21/create-jobs-and-improve-the-economy-through-public-control-of-our-money-system/
Kucinich bill: http://www.monetary.org/hr6550bill.pdf
SPECIAL ANNOUNCEMENT — FOR THOSE WHO LIVE IN NORTHEAST OHIO (out of area residents welcome too!)
Monday, April 11: Free Public Forum on Democratizing our Money System featuring Stephen Zarlenga, Director, American Monetary Institute, 7 PM, Peace House, 10916 Magnolia Ave., University Circle, Cleveland.
Zarlenga and the American Monetary Institute have worked with Rep. Kucinich on the National Emergency Employment Defense Act. Details of the April 11 program at http://www.afsc.net/PDFFiles/ZarlengaFlyer.pdf
---------------------------------------------------------------
Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt?
Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice.
This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini and Greg Coleridge helped in its development.
Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, contact monetarycalendar@yahoo.com For more information, visit http://www.afsc.net/economiccrisis.html
1975 – DEATH OF RALPH HAWTREY, BRITISH ECONOMIST, FRIEND OF JOHN MAYNARD KEYNES
“Banks lend by creating credit. They create the means of payment out of nothing.”
MARCH 22
1832 – DEATH OF JOHANN WOLFGANG VON GOETHE, GERMAN WRITER
“None are more enslaved than those who falsely believe they are free.”
MARCH 25
1894 – COXEY’S ARMY BEGINS MARCH
Jacob Coxey, a businessman from Massillon, Ohio organized a 500-strong “Coxey’s Army” march from Massillon (beginning on March 25, 1894) to Washington, D.C. (ending April 30) to promote federal intervention for job creation. The primary demand of this "petition in boots" was unique -- the direct printing and issuance of $500 million by the Federal Treasury to employ 4 million people.
Coxey's Army proposed two bills. The first, a "Good Roads Bill," would help farmers through $500 million issued by the federal government in legal tender notes, or greenbacks, to construct rural roads. The second, a noninterest-bearing bonds bill, would empower state and local governments to issue noninterest-bearing bonds to be used to borrow legal tender notes from the federal treasury. This money would be used to build urban libraries, schools, utility plants and marketplaces.
Millions of jobs would have been created -- debt-free.
NOTE: Rep. Dennis Kucinich has proposed a modern-day — but more sweeping — equivalent to the proposals of Coxey’s Army. One of the centerpieces of the National Emergency Employment Defense Act (HR 6550 in the last Congress, soon to be reintroduced in this Congressional session) is the issuance of interest- and debt-free government money to employ people to address the serious physical and social infrastructure needs in this country.
Article on Kucinich bill: http://moneyreform.wordpress.com/2011/01/21/create-jobs-and-improve-the-economy-through-public-control-of-our-money-system/
Kucinich bill: http://www.monetary.org/hr6550bill.pdf
SPECIAL ANNOUNCEMENT — FOR THOSE WHO LIVE IN NORTHEAST OHIO (out of area residents welcome too!)
Monday, April 11: Free Public Forum on Democratizing our Money System featuring Stephen Zarlenga, Director, American Monetary Institute, 7 PM, Peace House, 10916 Magnolia Ave., University Circle, Cleveland.
Zarlenga and the American Monetary Institute have worked with Rep. Kucinich on the National Emergency Employment Defense Act. Details of the April 11 program at http://www.afsc.net/PDFFiles/ZarlengaFlyer.pdf
---------------------------------------------------------------
Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt?
Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice.
This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini and Greg Coleridge helped in its development.
Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, contact monetarycalendar@yahoo.com For more information, visit http://www.afsc.net/economiccrisis.html
Monday, March 14, 2011
Energy Warning
We can expect over the next few days that the disaster caused by a reliance on incredibly risky and dangerous production of energy from non-renewable sources (i.e. the Japanese nuclear power meltdown) will yield calls from some quarters for greater reliance on incredibly risky and dangerous production of energy from other non-renewable sources (i.e. hydraulic fracking). Huge corporate interests are involved in both.
MONETARY HISTORY CALENDAR March14-20
MARCH 14
1900 – US GOLD STANDARD ACT APPROVED
It established gold as the only metal standard for redeeming paper money. Populists had campaigned for several years before, culminating in the 1896 Presidential election, to include silver as a standard for redeeming paper money. Banks controlled most of the gold and thus the basis for issuing paper money. Populists wanted to expand the money supply to meet the needs of an expanding economy and country. Banks wanted to maintain control of the money supply. President William McKinley (from Canton, Ohio), strongly backed by the nation’s major corporations, signed the Act. Whether gold and/or silver, banking money with metal moved the nation further away from the Greenbacks, the debt- and interest-free currency issued as credit, of the Lincoln administration.
MARCH 15
1767 – BIRTH OF ANDREW JACKSON, SEVENTH PRESIDENT OF THE UNITED STATES
“I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the Bank. You tell me that if I take the deposits from the Bank and annul its charter I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I have determined to rout you out and, by the Eternal, I will rout you out.” 1834
Jackson successfully opposed re-chartering the private “Second Bank of the United States.” He vetoed a bill in 1832 renewing the bank’s charter (license).
MARCH 16
1751 – BIRTH OF JAMES MADISON, FOURTH PRESIDENT OF THE UNITED STATES
"History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling the money and its issuance."
1938 – HOUSE RESOLUTION (HR) 7230 INTRODUCED
John William Wright Patman, Democratic Congressman 1938-1978 and Chairman Committee on Banking & Currency, introduces a bill to nationalize the Federal Reserve System.
"The Federal Reserve is a total moneymaking machine. It can issue money or checks, and it never has a problem of making its checks good because it can obtain the $5 or $10 bills necessary to cover its check simply by asking the Treasury Dept's Bureau of Engraving to print them.” 1964
MARCH 18
1993 – DEATH OF KENNETH BOULDING, ECONOMIST, PROFESSOR, PEACE ACTIVIST, QUAKER
Anyone who believes exponential growth can go on forever in a finite world is either a madman or an economist.
[editor: the same goes for debt]
MARCH 19
1860 – BIRTH OF WILLIAM JENNINGS BRYAN, SENATOR, SECRETARY OF STATE, PRESIDENTIAL CANDIDATE (DEMOCRAT/POPULIST)
Bryan had originally supported the 1913 Federal Reserve Act as Secretary of State under the Wilson administration. His position was crucial in gaining the support of many Congressional Democrats and Progressives. He later regretted his decision.
"In my long career, the only thing I genuinely regret is my part in getting the banking and currency legislation enacted into law.”
______________________________________________________________________________________________
Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt?
Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice.
This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini and Greg Coleridge helped in its development.
Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, contact monetarycalendar@yahoo.com For more information, visit http://www.afsc.net/economiccrisis.html Previous calendar entries are posted at http://afsc.net/monetaryhistorycalendar.html
Monday, March 7, 2011
Fracking Democracy
http://www.opednews.com/articles/Fracking-Democracy-by-Greg-Coleridge-110307-981.html
MONETARY HISTORY CALENDAR March 7-13
MARCH 7
1976 – DEATH OF WRIGHT PATMAN, DEMOCRATIC CONGRESSMAN FROM TEXAS, CHAIRMAN OF US HOUSE COMMITTEE ON BANKING & CURRENCY (1965-75)
“When our Federal Government, that has the exclusive power to create money, creates that money and then goes into the open market and borrows it and pays interest for the use of its own money, it occurs to me that that is going too far. I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its own money... I am saying to you in all sincerity, and with all the earnestness that I possess, it is absolutely wrong for the Government to issue interest-bearing obligations. It is not only wrong: it is extravagant. It is not only extravagant, it is wasteful. It is absolutely unnecessary.
“Now, I believe the system should be changed. The Constitution of the United States does not give the banks the power to create money. The Constitution says that Congress shall have the power to create money, but now, under our system, we will sell bonds to commercial banks and obtain credit from those banks.
“I believe the time will come when people will demand that this be changed. I believe the time will come in this country when they will actually blame you and me and everyone else connected with this Congress for sitting idly by and permitting such an idiotic system to continue. I make that statement after years of study.
“We have what is known as the Federal Reserve Bank System. That system is not owned by the Government. Many people think that it is, because it says `Federal Reserve'. It belongs to the private banks, private corporations. So we have farmed out to the Federal Reserve Banking System that is owned exclusively, wholly, 100 percent by the private banks — we have farmed out to them the privilege of issuing the Government's money. If we were to take this privilege back from them, we could save the amount of money that I have indicated in enormous interest charges.”
- Congressional Record, 1941
MARCH 9
1933 – EMERGENCY BANKING ACT PASSED
The bill authorized the President to regulate or prohibit the exporting, hoarding, melting or earmarking gold and silver coin and bullion during time of war or other emergency. The act compelled all individuals to pay and deliver all gold coin, bullion, and certificates to the Secretary of the Treasury and required payment in an equivalent amount of coin or currency. for those coerced deposits in any equivalent amount of coin or currency. The act in effect terminated the gold standard.
2005 – MSNBC REPORT ON US INFRASTRUCTURE
MSNBC reported that the American Society of Civil Engineers gave the nations infrastructure an overall grade of D, including its roads, bridges, drinking water systems and other public works. “We need to establish a comprehensive, long-term infrastructure plan. We need to but we can't because government at every level is broke." MSNBC report
The Kucinich plan to democratize the US money system, (H.R. 6550 in the last Congress) calls for creating US debt- and interest-free dollars to employee people to address this infrastructure crisis.
MARCH 11
1893 – PUBLICATION OF “PANIC CIRCULAR” BY THE AMERICAN BANKERS ASSOCIATION [Note: Many individuals, including several US public officials, claimed they received the document. The American Bankers Association denied its authenticity].
The document calls on member banks to incite a financial panic to prevent greater public controls of banks, to counter increased public sentiment toward government-issued money and as a means to oppose silver (as opposed to gold) being used as a backing for currency.
The alleged document stated,
“You will at once retire one-third of your circulation (your paper money) and call in one-half of your loans. Be careful to make a monetary [emergency] among your patrons, especially among influential businessmen…
“The future life of national banks, as fixed and safe investments, depends upon immediate action, as there is an increasing sentiment in favor of Government legal-tender notes and silver coinage.”
** BONUS: Here’s a link to a wonderful 4-minute video from the United Kingdom calling for “One Good Cut.” It advocates cutting the greatest government subsidy of them all — the license to banking corporations to print money. http://www.onegoodcut.org/
______________________________________________________________________________________________
Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt?
Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice.
This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini and Greg Coleridge helped in its development.
Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, contact monetarycalendar@yahoo.com For more information, visit http://www.afsc.net/economiccrisis.html Previous calendar entries are posted at http://afsc.net/monetaryhistorycalendar.html
1976 – DEATH OF WRIGHT PATMAN, DEMOCRATIC CONGRESSMAN FROM TEXAS, CHAIRMAN OF US HOUSE COMMITTEE ON BANKING & CURRENCY (1965-75)
“When our Federal Government, that has the exclusive power to create money, creates that money and then goes into the open market and borrows it and pays interest for the use of its own money, it occurs to me that that is going too far. I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its own money... I am saying to you in all sincerity, and with all the earnestness that I possess, it is absolutely wrong for the Government to issue interest-bearing obligations. It is not only wrong: it is extravagant. It is not only extravagant, it is wasteful. It is absolutely unnecessary.
“Now, I believe the system should be changed. The Constitution of the United States does not give the banks the power to create money. The Constitution says that Congress shall have the power to create money, but now, under our system, we will sell bonds to commercial banks and obtain credit from those banks.
“I believe the time will come when people will demand that this be changed. I believe the time will come in this country when they will actually blame you and me and everyone else connected with this Congress for sitting idly by and permitting such an idiotic system to continue. I make that statement after years of study.
“We have what is known as the Federal Reserve Bank System. That system is not owned by the Government. Many people think that it is, because it says `Federal Reserve'. It belongs to the private banks, private corporations. So we have farmed out to the Federal Reserve Banking System that is owned exclusively, wholly, 100 percent by the private banks — we have farmed out to them the privilege of issuing the Government's money. If we were to take this privilege back from them, we could save the amount of money that I have indicated in enormous interest charges.”
- Congressional Record, 1941
MARCH 9
1933 – EMERGENCY BANKING ACT PASSED
The bill authorized the President to regulate or prohibit the exporting, hoarding, melting or earmarking gold and silver coin and bullion during time of war or other emergency. The act compelled all individuals to pay and deliver all gold coin, bullion, and certificates to the Secretary of the Treasury and required payment in an equivalent amount of coin or currency. for those coerced deposits in any equivalent amount of coin or currency. The act in effect terminated the gold standard.
2005 – MSNBC REPORT ON US INFRASTRUCTURE
MSNBC reported that the American Society of Civil Engineers gave the nations infrastructure an overall grade of D, including its roads, bridges, drinking water systems and other public works. “We need to establish a comprehensive, long-term infrastructure plan. We need to but we can't because government at every level is broke." MSNBC report
The Kucinich plan to democratize the US money system, (H.R. 6550 in the last Congress) calls for creating US debt- and interest-free dollars to employee people to address this infrastructure crisis.
MARCH 11
1893 – PUBLICATION OF “PANIC CIRCULAR” BY THE AMERICAN BANKERS ASSOCIATION [Note: Many individuals, including several US public officials, claimed they received the document. The American Bankers Association denied its authenticity].
The document calls on member banks to incite a financial panic to prevent greater public controls of banks, to counter increased public sentiment toward government-issued money and as a means to oppose silver (as opposed to gold) being used as a backing for currency.
The alleged document stated,
“You will at once retire one-third of your circulation (your paper money) and call in one-half of your loans. Be careful to make a monetary [emergency] among your patrons, especially among influential businessmen…
“The future life of national banks, as fixed and safe investments, depends upon immediate action, as there is an increasing sentiment in favor of Government legal-tender notes and silver coinage.”
** BONUS: Here’s a link to a wonderful 4-minute video from the United Kingdom calling for “One Good Cut.” It advocates cutting the greatest government subsidy of them all — the license to banking corporations to print money. http://www.onegoodcut.org/
______________________________________________________________________________________________
Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt?
Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice.
This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini and Greg Coleridge helped in its development.
Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, contact monetarycalendar@yahoo.com For more information, visit http://www.afsc.net/economiccrisis.html Previous calendar entries are posted at http://afsc.net/monetaryhistorycalendar.html
Saturday, March 5, 2011
Facts on Wealth and Power in America
The majority of these figures are based on 2007 results. The information was retrieved on 2/11/2011 from http://sociology.ucsc.edu/whorulesamerica/power/wealth.html, a website by Professor G. William Domhoff, Sociology Dept., University of California at Santa Cruz. The entire document is worth a read. Here's a summary of the high/low points...
Percent of income from work for those making over $10 million: 19%
Percent of drop in wealth (marketable assets) for average households since 2007: 36.1%
Percent of drop in wealth (marketable assets) for the top 1% of households since 2007: 11.1%
Percent of all privately held wealth owned by the top 1%: 34.6
Percent of all privately held wealth owned by the top 20%: 85%
Percent of all privately held wealth owned by the bottom 80%: 15%
Percent of Americans who inherited $100,000 or more: 1.6%
Percent of American who inherited nothing: 91.9%
Percent of adults worldwide who control 85% of global household wealth: 10%
As an indicator of power, percent of all stock owned by the top 20% of world stock owners: 91.1%
As an indicator of power, percent of all stock owned by the bottom 80% of world stock owners: 8.9%
Percent of federal, state, and local taxes paid by the lowest 20% of income earners: 16%
Percent of federal, state, and local taxes paid by the top 1% of income earners: 30.8%
Ratio of CEO pay to factory worker pay in the U.S.: 344 to 1
Ratio of CEO pay to factory worker pay in Europe: 25 to 1
Average CEO salary increase between 1990 to 2005 compared to average workers increase for the same period: 300% v. 4.3%
Percent of income from work for those making over $10 million: 19%
Percent of drop in wealth (marketable assets) for average households since 2007: 36.1%
Percent of drop in wealth (marketable assets) for the top 1% of households since 2007: 11.1%
Percent of all privately held wealth owned by the top 1%: 34.6
Percent of all privately held wealth owned by the top 20%: 85%
Percent of all privately held wealth owned by the bottom 80%: 15%
Percent of Americans who inherited $100,000 or more: 1.6%
Percent of American who inherited nothing: 91.9%
Percent of adults worldwide who control 85% of global household wealth: 10%
As an indicator of power, percent of all stock owned by the top 20% of world stock owners: 91.1%
As an indicator of power, percent of all stock owned by the bottom 80% of world stock owners: 8.9%
Percent of federal, state, and local taxes paid by the lowest 20% of income earners: 16%
Percent of federal, state, and local taxes paid by the top 1% of income earners: 30.8%
Ratio of CEO pay to factory worker pay in the U.S.: 344 to 1
Ratio of CEO pay to factory worker pay in Europe: 25 to 1
Average CEO salary increase between 1990 to 2005 compared to average workers increase for the same period: 300% v. 4.3%
Thursday, March 3, 2011
Fracking in Ohio's State Parks, Good News, Next Move to Amend Ohio Conference Call
Fracking in Ohio’s Parks
Industrial horizontal drilling with massive slick water hydraulic fracturing (also known as “fracking”) not only fractures natural bedrock (to obtain natural gas) but also fractures the bedrock of our democracy. In 2004, the decision to drill (basically a local zoning issue) was taken away from local communities and placed in the hands of a state “regulatory” agency. The budget of that regulatory agency (the Ohio Department of Natural Resources, ODNR) is directly tied to the number of permits issued — meaning the more permits approved, the more money to ODNR. The actions of out-of-state drilling corporations are shielded by the ODNR and compliant state officials who ripped the local right-to-decide authority from local communities. The state how wants to engage in this hightly risky procedure in the state’s parks. Below is info (and a sign-on letter) calling for a moratorium of drilling.
Friends of Environmental Justice ...
An issue that is facing many other states across the country has reached Ohio ... fracking. We ask that you consider taking action on two fronts. Time is critical .... please respond ASAP.
1. gathering/signing the fracking moratorium letter (copied below)
An effort by a coalition of local citizen groups and statewide organizations has resulted in the creation of a fracking moratorium letter.
It is vital that we get as many signatures as possible on this letter. DEADLINE MARCH 5 by close of business.
The letter will not be on anyone’s letterhead. Organizational sign-on’s will be listed first and individuals listed second (both in alphabetical order)
To sign on just “forward” this e-mail or send to Tmills@chej.or
Fill in the information below:
Organization name:
Your name:
City and State:
Are you signing on for the organization?
Are you signing on only for yourself?
Please forward this e-mail to others you think would be interested in supporting this effort. Thank you.
2. call your representatives about HB 133, which will threaten ALL land owned or controlled by the state, will “create the Oil and Gas Leasing Board and to establish a procedure by which the Board may enter into leases for oil and gas production on land owned or under the control of a state agency”
The State of Ohio owns thousands of acres: state forests, state nature preserves (as the park system collapses, they've downgraded management to nature preserves), mental hospitals, which were originally founded as farms to defray expenses and provide rehabilitiation. Some of the rural state prisons also began as farm operations and there is excess acreage associated with some of them. It also implicitly authorizes offshore drilling in Lake Erie on state-owned submerged lands. Even the OSU experimental farm west of downtown Columbus could be drilled upon the way this is written. All that is OURS, NOT THEIRS. And parks, too.
(1) It makes it state policy not only to permit, but to promote and support the exploitation of oil and gas on state lands – a terrible and dangerous policy.
(2) It sets up a Oil and Gas Leasing Board, made up of 3 members appointed by the Governor, 2 industry reps, and one environmental representative. Decisions on leases can be made by a quorum of 3 members – so, what possible influence or power will one lone environmental member have? NONE! And, where is the representation from communities? Public health? Local government?
(3) In order to encourage lease bid submissions and the consequent development of all oil and gas reserves, all of the information contained in the bid is confidential and may not be released. So, land held in public trust can be exploited, drilled, covered with pipelines, cleared, etc. with no knowledge about who is being given a lease to do what, under what conditions, and no opportunity to be heard in the decision making.
The bill can be found at
http://www.legislature.state.oh.us/bills.cfm?ID=129_HB_133
It's been some time since we've sent out info, but we have been hard at work. An official announcement will be sent out in the near future, but for now, we would like you to know that as the board of OHEJ has worked on creating an independent statewide 501(C)3 organization, one of the changes that occurred was a name change ... from Ohioans for Health, Environment and Justice to Ohioans for People and Environment (OAPE). Most of the same people who have helped with the efforts of OHEJ continue to work as OAPE.
Vickie Askins
Wood County Citizens Opposed to Factory Farms
vaaskins@wcnet.org
Sherry Fleming
Williams County Alliance
wmscoa@yahoo.com
---------
Ohio General Assembly
Statehouse
Columbus, OH 43215
March 7, 2011
Dear Members of the 129th Ohio General Assembly:
The plans for industrial-scale drilling in the Marcellus and Utica formations of Ohio pose a direct and material threat to the interests of the undersigned organizations and our tens of thousands of individual members throughout the State of Ohio.
The use of high volume hydraulic fracturing with horizontal drilling of the deep shale formation presents significant risk to public health, safety and the environment. As the use of this relatively new technology has increased nationally, the number of documented spills, blowouts, leaking wells, and other accidents is shocking and the environmental and human consequences have been very serious. For example:
· An explosion and fire at the Chesapeake Appalachia LLC Powers gas well site in Avella, PA, injured three workers on February 23, 2011. DEP investigators reportedly found the fire started as a result of fumes escaping five tanks capable of holding a total of 21,000 gallons of flammable fluid known as wet gas or condensate, contained in natural gas.
· Methane and other toxins contaminated an aquifer serving 19 families in Dimock, Pennsylvania, resulting in a $4.1 million dollar settlement against Cabot Oil and Gas.
· Wells in Sublette County, Wyoming, contaminated with a variety of toxic compounds used in hydraulic fracturing, including benzene, a toxic chemical known to cause leukemia and aplastic anemia, at 1500 times the safe level for people. Similarly, 1.6 million gallons of hydraulic fracturing fluids escaped into the ground water in Parachute, Colorado
· A study by the Texas Commission on Environmental Quality found that pollutants from natural gas drilling in the Barnett Shale field were greater than those produced by all of the vehicular traffic in the Dallas-Ft. Worth area.
In addition, the withdrawal of millions of gallons of fresh water required for such operations’ hydraulic fracturing cycle will not only significantly impact Ohio’s water resources, but seriously infringe upon the constitutionally protected property rights in groundwater for an untold number of landowners. Further, due to the absence of local zoning and surface property protections, and use of mandatory pooling, landowners face losing essential property interests.
--------------------------------------------------
Now for Some Good News!
The Richmond, California City Council just voted unanimously for the Resolution to Free Democracy from Corporate Control
http://www.tinyurl.com/FreeDemocracy
Supreme Court: Corporations don’t have ‘personal privacy’ rights
http://www.rawstory.com/rs/2011/03/02/supreme-court-corporations-dont-have-personal-privacy-rights/
--------------------------------------------------
MOVE TO AMEND OHIO
Monthly Conference Call
Saturday, March 5, 11:00 AM
Call in #: 1-218-862-7200
Access Code: 744213
http:// www.movetoamendohio.org
Industrial horizontal drilling with massive slick water hydraulic fracturing (also known as “fracking”) not only fractures natural bedrock (to obtain natural gas) but also fractures the bedrock of our democracy. In 2004, the decision to drill (basically a local zoning issue) was taken away from local communities and placed in the hands of a state “regulatory” agency. The budget of that regulatory agency (the Ohio Department of Natural Resources, ODNR) is directly tied to the number of permits issued — meaning the more permits approved, the more money to ODNR. The actions of out-of-state drilling corporations are shielded by the ODNR and compliant state officials who ripped the local right-to-decide authority from local communities. The state how wants to engage in this hightly risky procedure in the state’s parks. Below is info (and a sign-on letter) calling for a moratorium of drilling.
Friends of Environmental Justice ...
An issue that is facing many other states across the country has reached Ohio ... fracking. We ask that you consider taking action on two fronts. Time is critical .... please respond ASAP.
1. gathering/signing the fracking moratorium letter (copied below)
An effort by a coalition of local citizen groups and statewide organizations has resulted in the creation of a fracking moratorium letter.
It is vital that we get as many signatures as possible on this letter. DEADLINE MARCH 5 by close of business.
The letter will not be on anyone’s letterhead. Organizational sign-on’s will be listed first and individuals listed second (both in alphabetical order)
To sign on just “forward” this e-mail or send to Tmills@chej.or
Fill in the information below:
Organization name:
Your name:
City and State:
Are you signing on for the organization?
Are you signing on only for yourself?
Please forward this e-mail to others you think would be interested in supporting this effort. Thank you.
2. call your representatives about HB 133, which will threaten ALL land owned or controlled by the state, will “create the Oil and Gas Leasing Board and to establish a procedure by which the Board may enter into leases for oil and gas production on land owned or under the control of a state agency”
The State of Ohio owns thousands of acres: state forests, state nature preserves (as the park system collapses, they've downgraded management to nature preserves), mental hospitals, which were originally founded as farms to defray expenses and provide rehabilitiation. Some of the rural state prisons also began as farm operations and there is excess acreage associated with some of them. It also implicitly authorizes offshore drilling in Lake Erie on state-owned submerged lands. Even the OSU experimental farm west of downtown Columbus could be drilled upon the way this is written. All that is OURS, NOT THEIRS. And parks, too.
(1) It makes it state policy not only to permit, but to promote and support the exploitation of oil and gas on state lands – a terrible and dangerous policy.
(2) It sets up a Oil and Gas Leasing Board, made up of 3 members appointed by the Governor, 2 industry reps, and one environmental representative. Decisions on leases can be made by a quorum of 3 members – so, what possible influence or power will one lone environmental member have? NONE! And, where is the representation from communities? Public health? Local government?
(3) In order to encourage lease bid submissions and the consequent development of all oil and gas reserves, all of the information contained in the bid is confidential and may not be released. So, land held in public trust can be exploited, drilled, covered with pipelines, cleared, etc. with no knowledge about who is being given a lease to do what, under what conditions, and no opportunity to be heard in the decision making.
The bill can be found at
http://www.legislature.state.oh.us/bills.cfm?ID=129_HB_133
It's been some time since we've sent out info, but we have been hard at work. An official announcement will be sent out in the near future, but for now, we would like you to know that as the board of OHEJ has worked on creating an independent statewide 501(C)3 organization, one of the changes that occurred was a name change ... from Ohioans for Health, Environment and Justice to Ohioans for People and Environment (OAPE). Most of the same people who have helped with the efforts of OHEJ continue to work as OAPE.
Vickie Askins
Wood County Citizens Opposed to Factory Farms
vaaskins@wcnet.org
Sherry Fleming
Williams County Alliance
wmscoa@yahoo.com
---------
Ohio General Assembly
Statehouse
Columbus, OH 43215
March 7, 2011
Dear Members of the 129th Ohio General Assembly:
The plans for industrial-scale drilling in the Marcellus and Utica formations of Ohio pose a direct and material threat to the interests of the undersigned organizations and our tens of thousands of individual members throughout the State of Ohio.
The use of high volume hydraulic fracturing with horizontal drilling of the deep shale formation presents significant risk to public health, safety and the environment. As the use of this relatively new technology has increased nationally, the number of documented spills, blowouts, leaking wells, and other accidents is shocking and the environmental and human consequences have been very serious. For example:
· An explosion and fire at the Chesapeake Appalachia LLC Powers gas well site in Avella, PA, injured three workers on February 23, 2011. DEP investigators reportedly found the fire started as a result of fumes escaping five tanks capable of holding a total of 21,000 gallons of flammable fluid known as wet gas or condensate, contained in natural gas.
· Methane and other toxins contaminated an aquifer serving 19 families in Dimock, Pennsylvania, resulting in a $4.1 million dollar settlement against Cabot Oil and Gas.
· Wells in Sublette County, Wyoming, contaminated with a variety of toxic compounds used in hydraulic fracturing, including benzene, a toxic chemical known to cause leukemia and aplastic anemia, at 1500 times the safe level for people. Similarly, 1.6 million gallons of hydraulic fracturing fluids escaped into the ground water in Parachute, Colorado
· A study by the Texas Commission on Environmental Quality found that pollutants from natural gas drilling in the Barnett Shale field were greater than those produced by all of the vehicular traffic in the Dallas-Ft. Worth area.
In addition, the withdrawal of millions of gallons of fresh water required for such operations’ hydraulic fracturing cycle will not only significantly impact Ohio’s water resources, but seriously infringe upon the constitutionally protected property rights in groundwater for an untold number of landowners. Further, due to the absence of local zoning and surface property protections, and use of mandatory pooling, landowners face losing essential property interests.
--------------------------------------------------
Now for Some Good News!
The Richmond, California City Council just voted unanimously for the Resolution to Free Democracy from Corporate Control
http://www.tinyurl.com/FreeDemocracy
Supreme Court: Corporations don’t have ‘personal privacy’ rights
http://www.rawstory.com/rs/2011/03/02/supreme-court-corporations-dont-have-personal-privacy-rights/
--------------------------------------------------
MOVE TO AMEND OHIO
Monthly Conference Call
Saturday, March 5, 11:00 AM
Call in #: 1-218-862-7200
Access Code: 744213
http:// www.movetoamendohio.org
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