how we got here
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A wise man said…exact no more that that which is appointed you.
mon·ey 1.any circulating medium of exchange, including coins, paper money, and demand deposits.
Commodity Money =Value through Barter and Trade
Representative Money=Backed by Gold and Silver
Fiat Money=Not Backed by Reserves or any known commodity
Credit Money= Exits in conjunction with Fiat Money
NOTE: By design Credit Money Is ALWAYS issued in excess of the reserve it carries.
Let’s Assume Money = Debt
And Interest = Entitlement
Does Money = Value?
Or is value = God,Family and Friends
Generations
Generation
Generate
Genetic
Genes
We need Less Downsizing
Today we only…
Buy, Sell & Trade?
I propose instead we…
Plant, Grow & Sow
1791-1811 The First Bank Of the United States
Bitterly opposed by Thomas JeffersonAnd James Madison as an engine for Corruption
1816-1836 The Second Bank Of the United States
Andrew Jackson denounced it as an engine for Corruption
1816-1836 The Second Bank Of the United States
Andrew Jackson denounced it as an engine for Corruption
1837-1862 National Banks
Currency backed with treasuries. Liquidity problems led to the 1907 panic.
1863-1913 The Free Bank Era
The state regulated reserves that were backed By gold and silver
1913 Creation of the Federal Reserve
Fractional Reserve BankingNo confidenceLoan DefaultsBank RunsBank Bankruptcy 2008
How much does a $100 promise to pay equate to in fractional reserve banking?
In a fractional-reserve banking system, in the event of a bank run, the demand depositors and note holders would attempt to withdraw more money than the bank has in reserves, causing the bank to suffer a liquidity crisis and, ultimately, to perhaps default.
Thanks to the sources:
http://www.google.com – Google is Smart. http://www.sxc.hu/http://en.wikipedia.org/wiki/History_of_central_banking_in_the_United_Stateshttp://en.wikipedia.org/wiki/History_of_moneyhttp://en.wikipedia.org/wiki/Fractional_reserve_bankinghttp://en.wikipedia.org/wiki/Bank_runhttp://en.wikipedia.org/wiki/Pyramid_scam
Human First!