Again people are thinking and organizing to provide the foundations for a new economy. Thanks to Christie.
Principles for a New Economy 2012
http://www.neweconomynetwork.org/
Preamble
The purpose of an economic system is to organize human activities in ways that support healthy and resilient human communities and ecosystems for both present and future generations.
To achieve this purpose, deep, system-wide change to existing economic institutions is urgently needed to reverse conditions typical of contemporary global, regional, national and local economies that exhibit one or more of the following serious flaws:
- U n s u s t a i n a b l e : They over-consume and degrade the resources upon which their long-term prosperity depends.
- U n f a i r : They multiply financial advantages to those already advantaged at the expense of those most in need.
- U n s t a b l e : They lack resilience in a time of growing volatility and rapid social, political, technological, and ecological change.
- U n d e m o c r a t i c : They operate with inadequate democratic controls and accountability on the part of their most powerful organizations – corporations, financial institutions and governments.At the root of these flaws is an implicit, dominant theory of economic purpose: namely to achieve continuous economic growth, as measured principally by GDP, by relying on “free markets” without regard to their negative impact on human and ecological well-being. At the core of a New Economy is the need to decouple the achievement of well-being from limitless economic growth by restructuring economies to:
- Fully realize individual potential through the advancement of human rights, including the right to fulfilling livelihoods, quality education, effective social safety nets, affordable nutritious food, clean water, secure health care, adequate shelter, and freedom from unjust persecution.
- Protect and nurture the richness and resilience of the natural world in ways that confront and rectify intensifying threats to humans and other species, including those associated with climate change, biodiversity loss, eco- system degradation, and polluted air and water.The following Principles are designed to guide the actions of all economic actors and organizations whose decisions and actions affect, or would be affected by, the transition to a New Economy.
PRINCIPLES
1. Measuring Progress- Economic progress shall be measured in terms of the well-being of all human societies, other living species, and ecosystems.
2.Respecting Natural Limits- The economy shall draw from, and inject into, ecosystems only what is compatible with maintaining a healthy and resilient natural world over the long run.
3. Democratizing the economy – All institutions that manage, regulate and execute economic activity, including private corporations, shall be democratically controlled by all affected stakeholders in order to serve long-term societal goals.
4. Ensuring economic progress – Governments, on their own and in conjunction with private markets, shall work to ensure prosperous and resilient economic outcomes by making adequate investments in health, education, nutrition, shelter, physical infrastructure, and technology.
5. Localizing control – Economic policy shall favor subsidiarity, i.e. the localization of economic decision-making and control to the greatest extent possible consistent with democracy, equity, efficiency, and resilience.
6. Taming finance – All monetary systems and financial institutions shall be regulated as essential public utilities for the benefit of society as a whole, and for nurturing the “real” economy.
7. enhancing fairness – Significant economic inequality shall be understood to be inherently and profoundly antithetical to achieving human and ecological well-being, and shall be rapidly reduced.
8. Providing fulfilling livelihoods – Individuals shall be ensured of substantial opportunities for decent paid work, employee ownership, and the right to organize in the workplace, and shall be accorded proper recognition for work performed outside the formal wage economy owing to its fundamental role in enriching community and family well-being.
9. Fostering new values – Economic values shall be redirected, by all fair and reasonable means, away from excessive materialism and shifted toward values that prioritize flourishing communities, individual happiness, and a healthy and resilient natural world based on lower material flows.
10. Redefining Globalization- International economic relations shall rest upon the same principles enumerated above that apply to economic activities within nations, such that economic justice also becomes embedded in such relations.
The editors of the Principles for a New Economy are Neva Goodwin, Richard Rosen, and Allen White. Principles for a New Economy was co-authored by the Core Principles Working Group, with the support of the New Economy Network. The members of the Working Group are: Gar Alperovitz, David Brodwin, Peter Brown, John Cavanagh, John Fullerton, Neva Godwin, Richard Heinberg, David Korten, Asher Miller, Noel Ortega, Richard Rosen, Gus Speth, Sarah Stranahan, Stewart Wallis, Allen White, and Susan Witt.
For questions and comments please contact: neva.goodwin@tufts.edu; rrosen@tellus.org or awhite@tellus.org
3/28/2013
Principles for a New Economy
Wes Annac: The Galactic Federation Manuscript with SanJAsKa – Part 1
Wes Annac: The Galactic Federation Manuscript with SanJAsKa – Part 1
Wes Annac: The Galactic Federation Manuscript with SanJAsKa – Part 1
Stephen: This is a series Wes has been working diligently on over a the past week or so in channeling sessions with his Pleiadian guide SanJAsKa. He sent me a sneak peak of part of it last weekend and I’m sure you’ll enjoy the series as much as I did the preview.
As its title implies, it looks in detail at the Galactic Federation, contains much information and will no doubt answer many questions you may have about the Federation. Wes intends posting it in several parts over the coming days, which we will also re-post here.
Written by Wes Annac – March 27, 2013
http://aquariusparadigm.com/2013/03/27/the-galactic-federation-manuscript-wit...
I would now like to present, analyze and discuss material concerning the Galactic Federation, sometimes referred to as the Galactic Federation of Light (some hold the belief that the two are different Organizations).
Who is the Galactic Federation?
The Galactic Federation is essentially an Organization comprised of a myriad of races of extraterrestrial and higher dimensional beings who have come together and united in the common goal of serving others, as we will learn below. These beings have found and evolved to the higher states of consciousness we are currently growing toward as a planet, and the Councils from the Pleiades who will be informing us about their Federation and a plethora of other things in this series are comprised mostly of fifth dimensional evolved humans or spirits.
The information we will discuss has been channeled from a Pleiadian Representative of the Galactic Federation and specifically, of the Pleiadian Councils of this Federation, who goes by the label of SanJAsKa. This soul is also a fifth dimensional aspect of my higher self, and could be called a “future self” as some may refer to it.
I have connected with SanJAsKa fruitfully in the past and to this day, this soul has given a plethora of communications and has given much information about the Pleiadians, their Councils and their overall Federation. Quite frankly, I requested as much information from SanJAsKa about the Galactic Federation as I could possibly receive, and the resulting discussion covered many facets of their Organization.
Here, we are going to discuss this information as it is given from dearest SanJAsKa. During this discussion, I hope to be able to provide my perspective on as many things said by SanJAsKa as possible, in an effort to produce a lucrative body of information for you the readers to hopefully benefit from.
Introducing the Galactic Federation
SanJAsKa begins the communication by giving a general introduction to the Galactic Federation, and explaining why it has been established and how the ascension of the Universe fits into the assistance the extra-dimensional souls comprising this Federation are giving.
“The Galactic Federation has been formed as a part of the overall effort to help every lower dimensional planet, collective and individual to see the Light and evolve back into the higher states of consciousness of our Mother/Father Creator. We work based on the ideal of service-to-others and to that extent, we have so very many different races and Councils working “around the clock” as you would term it, to help see-out the ascension of this Universe which has included the ascension of so many lower dimensional planets whose civilizations are ready to see the Light.
The ascension of the Earth is to be a very big, welcomed and added boost to the overall ascension of this entire Universe and we of the Galactic Federation stand ready and willing to offer our assistance to every soul who can begin to open up to our energies and impressions.”
The “ascension of the Earth” SanJAsKa is referring to could be better understood as a collective evolution that humanity is undergoing along with our planet. This evolution is physical and spiritual in nature and with it, we will find deeper and heightened states of consciousness and resulting abilities that we have been taught to believe are only possible in science-fiction works.
The ascended souls who are a part of the Galactic Federation and who are assisting us from “beyond the veil” with our collective evolution have found the states of consciousness and resulting abilities that have garnered a higher dimensional experience for them. It’s been said that the “service-to-others” ideal becomes a primary creed to Live by when reaching higher states of consciousness, because the drive to help as many souls as possible to evolve is very strong.
Training with the Galactic Federation
SanJAsKa goes on to explain that misinformation has been spread surrounding the Galactic Federation, and that they are of pure, higher dimensional vibrations and can experience or feed absolutely no negativity. We are also told of the “training process” potential members of the Galactic Federation undergo before joining the Organization.
“There has been much misinformation spread about our Federation, and we hope for it to go without saying that we do not act on any lower vibratory, mind-based or exclusionary ideals. We do not want any soul to feel as if they will not be welcomed into our Organization if they wish to offer their assistance but as has been said before, there is a process to undergo that involves training you to understand the tasks and responsibilities that would be set out for you were you to join our efforts.
So many souls on your Earth are already members of the Galactic Federation and have purposefully incarnated, walked-into or found another means of inhabiting the Earth, as an aspect of serving Her and helping Her and each one of you to ascend.
Beyond the souls within our Federation who are stationed on the ground, we as well as a plethora of other Lighted Organizations assisting in the ascension of your dearest world have thousands of our ships cloaked and stationed invisibly in the skies of your dear world.”
“Starseed” and “wanderer” are terms that describe souls from the higher dimensions we are growing toward as a planet, who have come to the Earth from their various planets and realms of consciousness to assist in the Earth and its collective’s evolution. Many forces working for the Light and for the Galactic Federation specifically have been able to make their way to the surface of this Earth, and the “Ground Crew” as it has been called is comprised of members of the Galactic Federation stationed on the Earth who have awakened to their greater mission and have activated their greater potential.
Just as SanJAsKa says, even beyond this very direct assistance the Galactic Federation are stationed in our skies in massive numbers and we as a planet can begin to recognize the assistance we are being given and welcome the off-world helpers offering their service.
Why Aren’t They Here With Us Now?
SanJAsKa tells us of the contacts that have been made by the Galactic Federation (and other extraterrestrial and extra-dimensional Organizations) in our ancient history, and the reason that the thousands of ships in our sky are not clearly on our ground is explained as well.
“Previously, we have been able to make contact with various civilizations in your Earthly history and help them to see the Light and when revelations concerning those contacts begin to surface, you will see that we have been very actively involved in your history; both recent and ancient.
Some souls wonder why we would not simply land and make contact with you if we are stationed in your skies, and we ask you to see the military state much of your world has become in relation to unidentified flying objects and the procedures that are taken in response to our craft by your militaries.
Because of pervading interests who have kept a strong grip on so very many aspects of your society, we have been targeted and fired at when making our presence blatantly known and even in other time periods of your history wherein such warfare was not attempted, we still had to be careful with the personal contacts that we made.”
This is one out of many reasons why we as a sovereign humanity should stand up to the pervading interests that have kept much of our history, including the extraterrestrial contacts that have been made, hidden from us. There is much information concerning contacts with Galactic humans that needs to get out, and we cannot continue to remain pacified or complacent when our future is staring us right in the eyes.
Preventing an Overwhelmed Humanity
SanJAsKa goes on to further discuss the care that must be taken when the various souls apart of the Galactic Federation make themselves known; not because of being targeted by militaries, but because they do not want to overwhelm those they are making the contacts with or showing themselves or their ships to.
We are then told that while care must be taken, the Galactics are here to blatantly make themselves known to us and will be taking actions to that extent.
“Thousands of fleets of the Galactic Federation will be made known on your dearest world in the time ahead and in this interim period, we must still be careful with how much we show ourselves as we do not and have not wished to overwhelm you dear souls or give you something that you could not handle.
However, we are also on your world to increasingly make ourselves known, and increasingly make ourselves known we will. We have planned brazen flyovers before, over individual souls with cameras so they could film what they were seeing and help the very ideas of our presence spread in earnest, and we can plan mass flyovers as well that simply could not be ignored by your media because the nature of which we would make such showings of us and our craft.
Again, we must be as careful as possible so as not to overwhelm you dearest souls, as much fear concerning us and our existence has been spread and we do not want any soul to go into state of fear or shock over our existence when important revelations concerning us begin to surface.”
Multitudes of movies have displayed the Galactics as nasty, monstrous aliens, bent on nothing more than the complete destruction of humanity and the Earth. This practice dates back to the 1930s and 40s when coincidentally, a culture began to flourish surrounding extraterrestrials and more specifically, their craft and personal contacts with them.
The response on the part of the individuals who have suppressed our history and kept us feeding fear and the resulting limitation as a collective, was to spread as much fear and misinformation as possible in a propagandist attempt to shape and mold the collective’s perception and opinion about this subject.
Surely, one or two people who consider themselves discerning and rational will laugh off this entire writing and the accompanying channeled material. Perhaps my seriousness about this subject can be seen as a further means to laugh it off and if one looks around, one will see that what would otherwise be an incredibly crucial and important subject for the overall evolution of humanity has been minimized, ridiculed and given a “science fiction” mindset, and any soul who attempts to bring this subject up with seriousness is met with a wall of disbelief.
Our culture and our collective beliefs have been crafted quite specifically to hold us back and so far, the souls who did this have been generally successful and would continue to be were it not for the widespread awakening taking place.
Positively & Negatively Inclined Off-World Forces
We are told of the very real difference between enlightened Galactics and the negatively-inclined extraterrestrials they are portrayed as, and we’re told of the desire of the Galactic souls assisting us to help us realize our nature as spiritual beings. We are also asked to embrace these very concepts that plenty of people still would not.
“There is a very real difference between we Galactic souls who are a part of various ascended Organizations and Federations, and the negatively-programmed “off world forces” as you would refer to them, who are stuck temporarily in service-to-self based mindsets and ways of Living and being.
No negative intents or races are a part of our sacred Federation, as we allow only Light and harmony into our circles and the collective energies surrounding each race of our Federation who will make themselves known to you will alone help you to understand and feel this.
We have so very much to tell you and share with you about your evolution and about the true infinity you can find, feel and access within yourselves, and we ask for you to open up to the very concepts that have been labeled silly or unacceptable on your world, because there is so very much you haven’t been told and there will be so very much that will surprise and astonish you alike.”
It’s been said that nearly all of our true history has been either hidden from us or rewritten. We have been collectively conditioned to exist within a certain frame of perception and as a result, we tend to fear or ridicule anything and everything that is too far outside of our perceptions, because of how truly different it is or would be to what we have been used to calling reality.
We Earth humans have been very focused upon a fixed, set and labeled environment and reality, and this paradigm would and will be broken when learning about the existence of not just a few planets’ worth of evolved humans wishing to assist us in our evolution, but entire Federations and ascended Organizations with that very goal in mind and in heart.
(Continued in Part 2 tomorrow.)
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About the New Economy
The “new economy” being spoken of here is not NESARA, but the fact that so many discussions of a new economy are occurring is, I think, not coincidental. Thanks to Christie.
About the New Economy
Why do we need a Global Transition to a New Economy…what’s wrong with the old one?
As a reminder, here is a sobering potpourri of the environmental and social crises we face:
Rising fossil-fuel energy use will lead to irreversible and potentially catastrophic climate change (International Energy Agency)…2.8 billion people survive on less than $2/day, (United Nations)…The 12 percent of the world’s population that lives in North America and Western Europe accounts for 60 percent of private consumption spending (World Watch Institute)… Human activities have taken the planet to the edge of a massive wave of species extinctions (Millennium Ecosystem Assessment)… The richest 1% of the US population control one-third of US net worth (Occupy movement)
These crises have their roots in our current economic system. But, putting the brakes on economic growth will, in our current system, trigger further unemployment, injustice, and a major decline in human wellbeing. Hence, the tremendous appeal of business as usual and the unwillingness to address the huge systemic problems we face.
We are convinced that there is an alternative. It means moving to a new economy that delivers wellbeing and social justice, without stretching the Earth’s resources beyond breaking point. This requires a Global Transition to a New Economy.What will the new economy look like?
Hard to say exactly!…But we do know that a new economy needs to be one that maximizes human wellbeing for all, and operates within environmental limits. We call this green and fair economy the “new economy”.
We have arranged the projects on our map around 9 characteristics we envisage for the new economy and described below. You may think this sounds like wishful thinking…but the projects on our map demonstrate that there are organizations and groups around the world making a green and fair economy happen, on the ground, in their local communities.
Models and Metrics: We will have new ways of visioning, modeling and measuring the economy that take environmental limits and human wellbeing into account.
Citizens and Communities: Our citizens will have an understanding of an economy that prioritizes human wellbeing within environmental limits, and will work together to build vibrant and resilient communities.
Finance: Capital will be made available to communities, enterprises, and individuals, allowing them to flourish while simultaneously creating wider positive social and environmental outcomes.
Global Justice: Social justice will be achieved, and quality of life will be improved for all, including for those currently living in poverty.
Governance: Local, national, and international governments will be responsive to citizens’ needs, and will create the necessary framework for economies that deliver on human wellbeing within environmental limits.
Currencies: New ways of issuing and supplying money and other mediums of exchange will be created, to favor local economic and community development.
Enterprise and Ownership: Goods and services will be produced in socially and environmentally responsible ways, including using innovative forms of capital ownership and new organizational arrangements.
Local Economies: Economies will emphasize local production for local need, thereby increasing their resilience and adaptability to external environmental, social and economic pressures.
The Commons: New ways of protecting, allocating and restoring natural, cultural and other resources that collectively belong to all humans, now and in the future will be developed.
Cyprus Has Finally Killed Myth That EMU is Benign
Cyprus Has Finally Killed Myth That EMU is Benign
If Cyprus tries to claw back competitiveness with an ‘internal devaluation’, it will drive unemployment to Greek levels (27pc) and cause the economy to contract so fast that the debt ratio explodes Photo: AP
Cyprus Has Finally Killed Myth That EMU is Benign
By Ambrose Evans-Pritchard, The Telegraph UK – March 27, 2013
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9957999/Cyp...
The punishment regime imposed on Cyprus is a trick against everybody involved in this squalid saga, against the Cypriot people and the German people, against savers and creditors. All are being deceived.
It is not a bail-out. There is no debt relief for the state of Cyprus. The Diktat will push the island’s debt ratio to 120pc in short order, with a high risk of an economic death spiral, a la Grecque.
Capital controls have shattered the monetary unity of EMU. A Cypriot euro is no longer a core euro. We wait to hear the first stories of shops across Europe refusing to accept euro notes issued by Cyprus, with a G in the serial number.
The curbs are draconian. There will be a forced rollover of debt. Cheques may not be cashed. Basic cross-border trade is severely curtailed. Credit card use abroad will be limited to €5,000 (£4,200) a month.
“We wonder how such capital controls could eventually be lifted with no obvious cure of the underlying problem,” said Credit Suisse.
The complicity of EU authorities in the original plan to violate insured bank savings – halted only by the revolt of the Cypriot parliament – leaves the suspicion that they will steal anybody’s money if leaders of the creditor states think it is in their immediate interest to do so. Monetary union has become a danger to property.
One can only smile at the denunciations of Eurogroup chief Jeroen Dijsselbloem for letting slip that the Cypriot package is a template for future EMU rescues, with further haircuts for “uninsured deposit holders”.
That is not the script. Cyprus is supposed to be a special case. Yet the “Dijssel Bomb” merely confirms that the creditor powers – the people who run EMU at the moment – will impose just such a policy on the rest of Club Med if push ever comes to shove. At the same time, the German bloc is lying to its own people about the real costs of holding the euro together. The accord pretends to shield the taxpayers of EMU creditor states from future losses. By seizing €5.8bn from savings accounts, it has reduced the headline figure on the EU-IMF Troika rescue to €10bn [from €15.8bn].
This is legerdemain. They have simply switched the cost of the new credit line for Cyprus to the European Central Bank. The ECB will have to offset the slow-motion bank run in Cyprus with its Emergency Liquidity Assistance (ELA), and this is likely to be a big chunk of the remaining €68bn in deposits after what has happened over the past two weeks.
Much of this will show up on the balance sheet of the Bundesbank and its peers through the ECB’s Target2 payment nexus. The money will leak out of Cyprus unless the Troika tries to encircle the island with razor wire.
“In saving €5.8bn in bail-out money, the other euro area countries will likely be on the hook for four to five times more in contingent liabilities. But, of course, the former represents real money that gives politicians a headache; the latter is monopoly central bank money,” said Marchel Alexandrovich, from Jefferies.
Chancellor Angela Merkel will do anything before the elections in September to disguise the true cost of the EMU project. It has been clear since August 2012 that she is willing let the ECB carry out bail-outs by stealth, as the lesser of evils. Such action is invisible to the German public. It does not require a vote in the Bundestag. It circumvents democracy.
Mrs Merkel can get away with this, provided Cyprus does not leave EMU and default on the Bundesbank’s Target2 claims, yet that may well happen.
“I wouldn’t be surprised to see a 20pc fall in real GDP,” said Nobel economist Paul Krugman. “Cyprus should leave the euro. Staying in means an incredibly severe depression.”
“Nobody knows what is going to happen. The economy could go into a free fall,” said Dimitris Drakopoulos, from Nomura.
The country has just lost its core industry, a banking system with assets equal to eight times GDP, and has little to replace it with. Cyprus cannot hope to claw its way back to viability with a tourist boom because EMU membership has made it shockingly expensive. Turkey, Croatia or Egypt are all much cheaper. Manufacturing is just 7pc of GDP. The IMF says the labour cost index has risen even faster than in Greece, Spain or Italy since the late 1990s.
What saved Iceland from mass unemployment after its banks blew up – or saved Sweden and Finland in the early 1990s – was a currency devaluation that brought industries back from the dead. Iceland’s krona has fallen low enough to make it worthwhile growing tomatoes for sale in greenhouses near the Arctic Circle.
If Cyprus tries to claw back competitiveness with an “internal devaluation”, it will drive unemployment to Greek levels (27pc) and cause the economy to contract so fast that the debt ratio explodes.
The IMF’s Christine Lagarde has given her blessing to the Troika deal, claiming that the package will restore Cyprus to full health, with public debt below 100pc of GDP by 2020.
Yet the Fund has already been through this charade in Greece, and her own staff discredited the doctrine behind EMU crisis measures. It has shown that the “fiscal multiplier” is three times higher than thought for the Club Med bloc. Austerity beyond the therapeutic dose is self-defeating.
Some in Nicosia cling to the hope that Cyprus can carry on as a financial gateway for Russians and Kazakhs, as if nothing has happened. RBS says the Russians will pull what remains of their money out of Cyprus “as soon as the capital controls are lifted”.
The willingness of the Cypriot authorities last week to seize money from anybody in any bank in Cyprus – even healthy banks – was an act of state madness. We will find out over time whether this epic blunder has destroyed confidence in the country as a financial centre, or whether parts of the financial and legal services sector can rebound.
Yet surely there is no going back to the old model, even though the final package restricts the losses to the two banks that are actually in trouble. Savers above €100,000 at Laiki will lose 80pc of their money, if they get anything back. Those at the Bank of Cyprus will lose 40pc.
Thousands of small firms trying to hang on face seizure of their operating funds. One Cypriot told me that the €400,000 trading account of his father at Laiki had just been frozen, leaving him unable to pay an Egyptian firm for a consignment of shoes.
The Cyprus debacle has taught us yet again that EMU has gone off the rails, is a danger to stability, and should be dismantled before it destroys Europe’s post-War order.
Whether it marks a watershed moment in the crisis is another matter. Italy, Spain, France and Portugal have their own crises, moving to their own rhythm.
The denouement will arrive when the democracies of southern Europe conclude that recovery is a false promise and that the only way to end mass unemployment is to break free of EMU’s contractionary regime.
It will be decided by Italy, not Cyprus.
Update: Cyprus Banks to Reopen – but Stock Exchange Remains Closed: http://www.guardian.co.uk/business/2013/mar/28/cyprus-reopen-banks-stock-market-closed
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Mother Sekhmet Speaks – 27 March 2013
BRICS Countries To Establish BRICS Development Bank – 27 March 2013
CLN – Stunning Facts About How The Banking System Really Works…And How It Is Destroying America – 28 March 2013
Paintings by Anthony Freda: www.AnthonyFreda.com.
Reclaiming the Founding Fathers’ Vision of Prosperity
To understand the core problem in America today, we have to look back to the very founding of our country.
The Founding Fathers fought for liberty and justice. But they also fought for a sound economy and freedom from the tyranny of big banks:
“[It was] the poverty caused by the bad influence of the English bankers on the Parliament which has caused in the colonies hatred of the English and . . . the Revolutionary War.”
- Benjamin Franklin“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.”
- John Adams“All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.”
- John Adams“If the American people ever allow the banks to control issuance of their currency, first by inflation and then by deflation, the banks and corporations that grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied”.
— Thomas Jefferson“I believe that banking institutions are more dangerous to our liberties than standing armies…The issuing power should be taken from the banks and restored to the Government, to whom it properly belongs.”
- Thomas Jefferson“The Founding Fathers of this great land had no difficulty whatsoever understanding the agenda of bankers, and they frequently referred to them and their kind as, quote, ‘friends of paper money. They hated the Bank of England, in particular, and felt that even were we successful in winning our independence from England and King George, we could never truly be a nation of freemen, unless we had an honest money system. ”
-Peter Kershaw, author of the 1994 booklet “Economic Solutions”Indeed, everyone knows that the American colonists revolted largely because of taxation without representation and related forms of oppression by the British. See this and this. But – according to Benjamin Franklin and others in the thick of the action – a little-known factor was actually the main reason for the revolution.
To give some background on the issue, when Benjamin Franklin went to London in 1764, this is what he observed:
“When he arrived, he was surprised to find rampant unemployment and poverty among the British working classes… Franklin was then asked how the American colonies managed to collect enough money to support their poor houses. He reportedly replied:
“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.”
In 1764, the Bank of England used its influence on Parliament to get a Currency Act passed that made it illegal for any of the colonies to print their own money. The colonists were forced to pay all future taxes to Britain in silver or gold. Anyone lacking in those precious metals had to borrow them at interest from the banks.
Only a year later, Franklin said, the streets of the colonies were filled with unemployed beggars, just as they were in England. The money supply had suddenly been reduced by half, leaving insufficient funds to pay for the goods and services these workers could have provided. He maintained that it was “the poverty caused by the bad influence of the English bankers on the Parliament which has caused in the colonies hatred of the English and . . . the Revolutionary War.” This, he said, was the real reason for the Revolution: “the colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the colonies their money, which created unemployment and dissatisfaction.”
(for more on the Currency Act, see this.)
Alexander Hamilton echoed similar sentiments:
Alexander Hamilton, the nation’s first treasury secretary, said that paper money had composed three-fourths of the total money supply before the American Revolution. When the colonists could not issue their own currency, the money supply had suddenly shrunk, leaving widespread unemployment, hunger and poverty in its wake. Unlike the Great Depression of the 1930s, people in the 1770s were keenly aware of who was responsible for their distress.
Read the rest of the article… http://www.original article at: washingtonsblog.com / link to original article
www.consciouslifenews.com / link to article
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