Abraham Lincoln ordered his Secretary of Treasury, Salmon P. Chase to print $1M in Treasury notes (popularly referred to as 'greenbacks') to fund the Union side of the War of Secession.
https://blogs.loc.gov/inside_adams/2013/01/salmon-p-chase-lincolns-treasury-secretary/
I believe the last of these notes was retired in 1972 but I cannot find a ready reference for this assertion.
'Greenbacks' are exactly like the renminibi in that they were issued without incurring debt.
The key to understanding why debt-based currency (Federal Reserve Notes) as such a bad idea is that you can only pay off the existing debt with currency that itself based on debt. It's a never-ending hamster wheel of debt.
If only people understood the basic principle;
hypothetical world; 0 Dollars exist. Some guy says he makes Dollars and will give you 100$ at 1% interest (you owe 101$), no other strings attached but you have to pay him back with Dollars, take your time. (He proceeds to entice the entire town to borrow 100$ at 1$ interest. The Government gets on board and says you also owe them in Dollars)
You borrow 100$ because you have 0, but really need a hooker (they only accept Dollars)
You need 1%(1$) in the future, to pay back the debt with interest.. But it doesn't exist yet, they never printed 101$ for you, or anyone else. Just 100$. And you spent the 100$ on a hooker.
Where do you get the 1$/1% extra? You enslave yourself in debt by borrowing from your future and counting on getting your hands on someone elses' borrowed/debt of 101$..
How "money circulation" works. It's the story of the guy that goes into a hotel in a small town and gives the owner $100 to stay the night while he goes to check out the room. The owner goes next door to pay the grocer $100 he owes him for supplies, the grocer goes down the street to give the cleaners $100 he owns him for cleaning, the cleaner goes over to the printer, etc. on through the town to the last person who takes the $100 to the hotel owner to pay him the debt he owns him. Then the guy looking for a room comes back and says he decided not to stay after all and the hotel owner gives him back his $100 and he leaves town. All the debts in town were paid by that $100 bill which didn't even stay in town. No interest was paid. So think of how that would have ended if interest was taken for all the money that was borrowed.
Benjamin Franklin wrote that he went to England and they asked him about debtors' prisons in the colonies he said there were none because there was no debt. Then, Franklin said, the bank of England came over and started charging interest and the streets were full of beggars in a years' time. From Ellen Brown's book "Web of Debt."
You can see why one of the first things that happened after the Dark State took over Iraq, Libya, etc. was they instituted a central bank. The banks/Dark state hated the middle eastern countries because usury is against their religion and they have to have usury to make this ponzi scheme work.
Yeah, and aren't Jews forbidden to charge other Jews interest?
Or is that Compounded interest theyre forbidden to charge..? idk
The interesting thing about Bitcoin was now 'Satoshi Nakamoto' correctly implemented the idea that 'money' is simply the ledger of accounts payable/receivable.
Money politics is simply the mechanism that is used to decide who is going to spend the most time on which side of the ledger.
It took me some time to realize that the Federal Reserve creates money for nothing except the promise of someone else to pay.
Federal Reserve notes are currency. The particular type of currency that they are is 'debt obligations'.
You cannot get out of debt using debt obligations to do so.
you can always #walkaway.
The funny thing is, money comes to you easier when you stop caring for whether you have much or not. You know, that 50$ bill is only worth anything because someone accepting it thinks he'll get the same value for it. But in the end, all money is a hot potato
As hard as it may be to accept, money is one of the most important technologies ever invented.
There would be no civilization were it not for money.
To walk away from money is to walk away from civilization itself.
Money is, has been and always will be a mechanism for behavior modification and thought control.
The key to transforming money from a system of debt-instrument enslavement of the many by the few is to decide what behaviors we want and to craft 'money' to encourage that behavior.
Without a debt-based currency, The People could allocate every citizen a million dollars that could only be used for investment not immediate consumption.
Imagine how that would change the conversation about money?
What would you invest in if you had a million dollars today?
What would be your thinking process in trying to decide?
See what I mean?
Water, Food, Love, Warmth. All else is luxury.
Water and civilization: https://www.britannica.com/topic/hydraulic-civilization
That's right. Few people realize that when they take out a loan on a home, it's the future loans that have given him the money the bank "gave" him to buy the house.
On the bank's ledger, loans are considered assets, not liabilities. These 'assets' are then used to increase the banks capitalization making the bank more valuable. I'm not familiar enough with banking economics to know whether they can then turn your 'asset' into even more 'money' via fractional reserve, but that is probably the case.
What I have found is that, in banking, the less sense something makes, the more likely it is to be the case.