OCTOBER 3
2008 – US CONGRESS APPROVES $700 BILLION BAILOUT FOR BANKS
The largest US banks were bailed out by US taxpayers since they were considered “too big to fail.” Main Street businesses and side street homeowners facing foreclosures (due in large part to the speculative practices of major financial institutions) received no such support. Many of these major banks were major political campaign contributors/investors in the 2008 political campaign. The final bailout legislation was a revised and slightly better version of an original bill proposed by Sec. of Treasury Hank Paulson that was literally only a few pages in length. Massive public anger resulted in a flood of calls, emails and visits to congressional offices. The original proposal was defeated by Congress.
OCTOBER 4
1923 – BIRTH OF CHARLTON HESTON, ACTOR [I KNOW THIS IS A BIT OF A STRETCH]
“You shall not charge interest to your countrymen…”A quote from Moses from the Bible, Deuteronomy 23: 19-20 Moses was born sometime in 1527 BC. Since the exact date is unknown, why not use the birth date of the guy who played him in films!
OCTOBER 8
1946 – BIRTH OF DENNIS KUCINICH, CONGRESSMAN, OHIO
Author of the National Emergency Employment Defense [NEED] Act, introduced in 2010 and 2011 [HR 2990 in 2011]. Among the bill’s provisions are: (a) make the Federal Reserve System more accountable by placing the Fed under the US Department of Treasury, (b) create government issued money to hire people to repair the nation’s physical and human infrastructure, and (c) eliminate fractional reserve lending – the practice that permits banks to lend out many times more funds that they actually possess.
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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, October 3, 2011
Sunday, September 25, 2011
MONETARY HISTORY CALENDAR - September 26-October 2
SEPTEMBER 29
1897 – BIRTH OF GRAHAM TOWERS, GOVERNOR OF THE CENTRAL BANK OF CANADA, 1934-1955
In testimony in 1939 before a Standing Committee on Banking and Commerce of the Canadian Parliament when asked whether banks create money, he stated,
“That is right. That is what they are for... That is the Banking business, just in the same way that a steel plant makes steel…The manufacturing process consists of making a pen-and-ink or typewriter entry on a card in a book. That is all…Each and every time a bank makes a loan (or purchases securities), new bank credit is created — new deposits — brand new money…As loans are debts, then under the present system all money is debt.”
2008 – STOCK MARKET CRASH
The Dow Jones plummeted by 778 points, its largest one-day drop in the history of the New York Stock Exchange. The crash was caused by the elimination on controls of the financial sector and was the logical consequence of allowing the financial industry to control our monetary system.
OCTOBER 1
1936 – DEATH OF LOUIS MCFADDEN (R- PA), CHAIRMAN OF THE US HOUSE BANKING AND CURRENCY COMMITTEE
"We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. Some people think the Federal Reserve Banks are U.S. government institutions. They are private credit monopolies; domestic swindlers, rich and predatory money lenders which prey upon the poeple the United States for the benefit of themselves and their foreign customers…The truth is the Federal Reserve Board has usurped the Government of the United States by the arrogant credit monopoly which operates the Federal Reserve Board."
OCTOBER 2
1869 – BIRTH OF MOHANDAS GANDHI
'Earth provides enough to satisfy every man's need, but not every man's greed."
"A small body of determined spirits fired by an unquenchable faith in their mission can alter the course of history.”
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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
1897 – BIRTH OF GRAHAM TOWERS, GOVERNOR OF THE CENTRAL BANK OF CANADA, 1934-1955
In testimony in 1939 before a Standing Committee on Banking and Commerce of the Canadian Parliament when asked whether banks create money, he stated,
“That is right. That is what they are for... That is the Banking business, just in the same way that a steel plant makes steel…The manufacturing process consists of making a pen-and-ink or typewriter entry on a card in a book. That is all…Each and every time a bank makes a loan (or purchases securities), new bank credit is created — new deposits — brand new money…As loans are debts, then under the present system all money is debt.”
2008 – STOCK MARKET CRASH
The Dow Jones plummeted by 778 points, its largest one-day drop in the history of the New York Stock Exchange. The crash was caused by the elimination on controls of the financial sector and was the logical consequence of allowing the financial industry to control our monetary system.
OCTOBER 1
1936 – DEATH OF LOUIS MCFADDEN (R- PA), CHAIRMAN OF THE US HOUSE BANKING AND CURRENCY COMMITTEE
"We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. Some people think the Federal Reserve Banks are U.S. government institutions. They are private credit monopolies; domestic swindlers, rich and predatory money lenders which prey upon the poeple the United States for the benefit of themselves and their foreign customers…The truth is the Federal Reserve Board has usurped the Government of the United States by the arrogant credit monopoly which operates the Federal Reserve Board."
OCTOBER 2
1869 – BIRTH OF MOHANDAS GANDHI
'Earth provides enough to satisfy every man's need, but not every man's greed."
"A small body of determined spirits fired by an unquenchable faith in their mission can alter the course of history.”
---------------------
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
Thursday, September 22, 2011
Ohio Get FraACTive
Produced by the Ohio Alliance for People and Environment and NEOGAP (Network for Oil and Gas Accountability and Protection).
http://vimeo.com/27156186
Kucinich proposes landmark jobs plan
How democratizing our monetary policy can create millions of jobs....without raising the debt or inflation.
http://kucinich.house.gov/news/email/show.aspx?ID=X7EX6WS6JW7AZSDNJHSVS5UZXM
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Since corporations aren’t creating enough jobs to address our chronic unemployment crisis, the public sector must fill the void. A major impediment to funding any federal jobs program, however, is that the cost would add to the ever-rising federal debt.
A congressional bill, the National Emergency Employment Defense (NEED) Act, was just introduced that would spend US created money into circulation to exclusively fund the repair of our crumbling infrastructure and education systems. Seven million US jobs would be created.
Why borrow money from banks (which create money as debt) that need to be repaid with interest when We the People can create money interest-free, as stipulated in Art 1, Sec 8 of the Constitution?
The NEED Act, introduced by Rep. Dennis Kucinich, wouldn’t be inflationary since the amount of created US money would match the amount of created physical wealth.
The NEED Act would also end the bank practice of creating money as debt via loans (to both individuals and the government) and loaning money many times in excess of their reserves.
Thank Rep. Kucinich for his sponsorship of this urgent bill and encourage every other area US Representative and Ohio Senators Brown and Portman to support it.
http://kucinich.house.gov/news/email/show.aspx?ID=X7EX6WS6JW7AZSDNJHSVS5UZXM
---------
Since corporations aren’t creating enough jobs to address our chronic unemployment crisis, the public sector must fill the void. A major impediment to funding any federal jobs program, however, is that the cost would add to the ever-rising federal debt.
A congressional bill, the National Emergency Employment Defense (NEED) Act, was just introduced that would spend US created money into circulation to exclusively fund the repair of our crumbling infrastructure and education systems. Seven million US jobs would be created.
Why borrow money from banks (which create money as debt) that need to be repaid with interest when We the People can create money interest-free, as stipulated in Art 1, Sec 8 of the Constitution?
The NEED Act, introduced by Rep. Dennis Kucinich, wouldn’t be inflationary since the amount of created US money would match the amount of created physical wealth.
The NEED Act would also end the bank practice of creating money as debt via loans (to both individuals and the government) and loaning money many times in excess of their reserves.
Thank Rep. Kucinich for his sponsorship of this urgent bill and encourage every other area US Representative and Ohio Senators Brown and Portman to support it.
Monday, September 19, 2011
David Cobb of Move to Amend to visit Ohio in October
Speaking and willing to Speak
David Cobb, one of the major leaders of the national Move to Amend, will be a keynote speaker at the Midwest Power Shift conference in Cleveland, October 21-23.
Midwest Power Shift will bring together thousands of young people together to promote climate justice.
http://midwest.wearepowershift.org/
Cobb will speak at the conference on Friday night, October 21 and co-lead a workshop on Saturday, October 22 on ending corporate rule and Move to Amend.
He is available to speak afterwards around the area/state (preferably in locations in Northern Ohio) on:
Saturday night, October 22
Sunday morning (a lay church sermon), October 23
Sunday afternoon, October 23
Sunday evening, October 23
Here’s a written and video interview of Cobb
http://www.duhc.org/profiles/blogs/vermont-commons-interviews
http://www.youtube.com/watch?v=8SRnHkqT6_I
If interested in bringing David to your area for a program (or sermon in the case of Sunday morning), contact gcoleridge@afsc.org or call 330-928-2301.
David Cobb, one of the major leaders of the national Move to Amend, will be a keynote speaker at the Midwest Power Shift conference in Cleveland, October 21-23.
Midwest Power Shift will bring together thousands of young people together to promote climate justice.
http://midwest.wearepowershift.org/
Cobb will speak at the conference on Friday night, October 21 and co-lead a workshop on Saturday, October 22 on ending corporate rule and Move to Amend.
He is available to speak afterwards around the area/state (preferably in locations in Northern Ohio) on:
Saturday night, October 22
Sunday morning (a lay church sermon), October 23
Sunday afternoon, October 23
Sunday evening, October 23
Here’s a written and video interview of Cobb
http://www.duhc.org/profiles/blogs/vermont-commons-interviews
http://www.youtube.com/watch?v=8SRnHkqT6_I
If interested in bringing David to your area for a program (or sermon in the case of Sunday morning), contact gcoleridge@afsc.org or call 330-928-2301.
End Corporate Rule: Create Real Democracy
Power Point Presentation by Greg Coleridge
Constitution Day program
Kent State University, Tuscarawas Branch
September 15, 2011
http://www.afsc.net/PDFFiles/EndCorporateRule.pdf
MONETARY HISTORY CALENDAR - September 19-25
SEPTEMBER 19
1881-- DEATH OF PRESIDENT JAMES GARFIELD (R, OHIO)
"Whosoever controls the volume of money in any country is absolute master of all industry and commerce...and when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate." A few weeks after making this statement, Garfield was shot. He died two months later.
SEPTEMBER 21
1950 –FEDERAL DEPOSIT INSURANCE LIMIT RAISED
The popular FDIC (Federal Deposit Insurance Corporation) limit is raised by Congress to $10,000. The FDIC insures commercial bank deposits against loss due to bankruptcy or default. It was created following the Great Depression when depositors lost their savings when banks collapsed due to speculative investments and/or depositor fears which led to a run on banks.
SEPTEMBER 22
1956 -- DEATH OF FREDERICK SODDY, NOBEL LAUREATE
“It was recognized in Athens and Sparta…centuries before the birth of Christ that one of the most vital prerogatives of the State was the right to issue money.”
On money: "To allow it to become a source of revenue to private issuers is to create first, a secret and illicit arm of the government and last, a rival power strong enough ultimately to overthrow all other forms of government."
SEPTEMBER 23
1998 – TALK BY MICHAEL CHOSSUDOVSKY, PROFESSOR OF ECONOMICS
Monetary policy is in the hands of private creditors who have the ability to freeze state budgets, paralyze the payments process, thwart the regular disbursement of wages to millions of workers and precipitate the collapse of production and social programs.
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
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