Did President Lincoln's Greenback Monetary Policy save four billion dollars?

[DennisTate]

in interest payments as asserted in this article?

In 1972, the United States Treasury Department was asked to compute the amount of interest that would have been paid if that 400 million dollars would have been borrowed at interest instead of being issued by Abraham Lincoln. They did some computations, and a few weeks later, the United States Treasury Department said the United States Government saved 4 billion dollars in interest because Lincoln had created his own money. So you can about imagine how much the Government has paid and how much we owe solely on the basis of interest.

Abraham Lincoln and John F. Kennedy



What happens when you take your most productive workers off the farms and ranches and out of whatever factories exist at the time in history when you do this and you pay them to shoot cannons, rifles and muzzle loaders at their neighbours........????

You decrease the supply of consumer goods... .at the same time as you increase the supply of money..... and voila..... you have a formula for hyper-inflation!

 

[DennisTate]

This is on another forum but I consider this to be the most well informed and insightful explanation for what happened during the time of the Weimar Republic hyper-inflation that I have ever read:

The Weimar defense?

If I said that a person who was pushed from 6th-floor balcony died because they hit the ground. Would you blame the ground for their death or the person that pushed them?

Clearly, the person would not have fallen off the balcony if they hadn't been pushed. So the precipitating cause was the push, the resulting cause was hitting the ground.

No push, the person in question would not have died at that instant.

In the same way, money creation, wasn't the precipitating cause of hyperinflation, it was the resulting cause. The precipitating cause was the loss of productivity due to the destruction of factories during the war combined with reparations and the massive foreign debt payable only in gold.

My point is that the conditions that led to hyper-inflation during the Greenback Monetary Policy experiment were actually very similar to what happened during the time of the Weimar Republic............
a massive DECREASE IN PRODUCTIVITY...... combined... with an increase in the supply of Money!!!!

 

[Brian Mcnamee]

if you research central banks and vs the founding fathers you will find a lot of information warning about the great dangers we would face to our liberties if we ever let private bankers control the issue of money. The greenback is just like a Federal reserve not only it does not have to be paid back and there then is no interest. If the Federal government issued money today the same way we also would have to pay no interest on it. Inflation is a tax and there was no income tax prior to the Federal reserve act passed in 1913 and the income tax came the same year.
Most money created today is by the corporate banks who use the fractional reserve system to loan up many times more money than they have deposits. This is why prosperity equals debt and debt rises the ponzi scheme continues to work. Only 5% of the money is created by the treasury. However now the Fed is purchasing the T bills immediately after another bank buys them at auction. So in other words they are massively pumping new money into the system now to keep it going. This will end one day in global economic collapse Rev 6 syndrome. A days wage for a quart of wheat and peace taken from the earth. The beast system comes in the middle of the week and then the mark, name or number of the beast will be required. Out of the chaos will come the order.
NWO antichrist kingdom.

 

[OldWiseGuy]

We can bring the Federal Reserve to heel by not incurring consumer debts by means of their currency. Also by refraining from spending money on things that have no lasting value.

We deadbeats* thwart the plans of the credit card companies by paying our balance, interest free, each month. We can also seek merchants that give a discount for paying in cash (my dentist gives a 5 percent credit for paying cash).

* Term used by the cc companies to describe users who don't pay interest.

 

[DennisTate]

if you research central banks and vs the founding fathers you will find a lot of information warning about the great dangers we would face to our liberties if we ever let private bankers control the issue of money. The greenback is just like a Federal reserve not only it does not have to be paid back and there then is no interest. If the Federal government issued money today the same way we also would have to pay no interest on it. Inflation is a tax and there was no income tax prior to the Federal reserve act passed in 1913 and the income tax came the same year.
Most money created today is by the corporate banks who use the fractional reserve system to loan up many times more money than they have deposits. This is why prosperity equals debt and debt rises the ponzi scheme continues to work. Only 5% of the money is created by the treasury. However now the Fed is purchasing the T bills immediately after another bank buys them at auction. So in other words they are massively pumping new money into the system now to keep it going. This will end one day in global economic collapse Rev 6 syndrome. A days wage for a quart of wheat and peace taken from the earth. The beast system comes in the middle of the week and then the mark, name or number of the beast will be required. Out of the chaos will come the order.
NWO antichrist kingdom.

I heard a lecture on this a few years ago that I listened to over and over again because the implications are so colossal but..... I believe that Messiah Yeshua - Jesus can and will work this out for tremendous good....... if we will pray for our enemies........... (which is a significant percentage of the most politically and economically powerful as well as those who control the media).

Senator and CIA Insider Accuse Federal Reserve of Covering Up Secret Bankruptcy

 

[OldWiseGuy]

Do good things with bad money.

Luke 16:9
And I say unto you, Make to yourselves friends of the mammon of unrighteousness; that, when ye fail, they may receive you into everlasting habitations.

 

[DennisTate]

Do good things with bad money.

Luke 16:9
And I say unto you, Make to yourselves friends of the mammon of unrighteousness; that, when ye fail, they may receive you into everlasting habitations.

Brilliantly stated!

Here is some more information on all this:


The History of Banking Control in the United States

Lincoln was re-elected President in 1864, and he made it quite clear that he would attack the power of the bankers, once the war was over. The war ended on April 9, 1865, but Lincoln was assassinated five days later, on April 14. A tremendous restriction of credit followed, organized by the banks: the currency in circulation in the country, which was, in 1866, $1,907 million, representing $50.46 for each American citizen, had been reduced to $605 million in 1876, representing $14.60 per capita. The result: in ten years, 56,446 business failures, representing a loss of $2 billion. And as if this was not enough, the bankers reduced the per capita currency in circulation to $6.67 in 1887!

 

[OldWiseGuy]

Brilliantly stated!

Here is some more information on all this:


The History of Banking Control in the United States

I think the reverse might obtain today considering the enormous amount of U.S. currency and electronic money in the system globally. The bankers may have lost control of the money and now it's controlling them.

 

[DennisTate]

I think the reverse might obtain today considering the enormous amount of U.S. currency and electronic money in the system globally. The bankers may have lost control of the money and now it's controlling them.

Wow!!!!!

I have got to really give that idea some thought but I will leave you with a paragraph from the near death experience account of former Skeptic Howard Storm:


Howard Storm's Near-Death Experience

If we change the way we are, then we can change the future which they showed me. They showed me a view of the future, at the time of my experience, based upon how we in the United States were behaving at that time. It was a future in which a massive worldwide depression would occur. If we were to change our behavior, however, then the future would be different.

This is one of the topics that I think about quite a lot.

Could the prophet Elijah have altered history if he had NOT........

 

[DennisTate]

if you research central banks and vs the founding fathers you will find a lot of information warning about the great dangers we would face to our liberties if we ever let private bankers control the issue of money. The greenback is just like a Federal reserve not only it does not have to be paid back and there then is no interest. If the Federal government issued money today the same way we also would have to pay no interest on it. Inflation is a tax and there was no income tax prior to the Federal reserve act passed in 1913 and the income tax came the same year.
Most money created today is by the corporate banks who use the fractional reserve system to loan up many times more money than they have deposits. This is why prosperity equals debt and debt rises the ponzi scheme continues to work. Only 5% of the money is created by the treasury. However now the Fed is purchasing the T bills immediately after another bank buys them at auction. So in other words they are massively pumping new money into the system now to keep it going. This will end one day in global economic collapse Rev 6 syndrome. A days wage for a quart of wheat and peace taken from the earth. The beast system comes in the middle of the week and then the mark, name or number of the beast will be required. Out of the chaos will come the order.
NWO antichrist kingdom.

Well said!

Here is a statement from another forum that in my opinion....... if this is true..... then the USA is all set up to use your Federal Reserve much like Canada used our own Bank of Canada from 1938 to 1974?????

dad2three said: ↑
Anyone understand how markets were manipulated pre federal resserve and the US had a 2008 crisis less than every 5 years on average PRE federal reserve???

Facts: Yes, the Federal Reserve banks are privately owned, but they are controlled by the publically-appointed Board of Governors. The Federal Reserve banks merely execute the monetary policy choices made by the Board. In addition, nearly all the interest the Federal Reserve collects on government bonds is rebated to the Treasury each year, so the government does not pay any net interest to the Fed.

....Moreover, monetary policy is controlled by the publically-appointed Board of Governors, not by the Federal Reserve banks.


Fact: Independent accounting firms conduct full financial audits of the Federal Reserve banks and the Board of Governors every year. The Fed is also subject to certain types of audits from the Government Accounting Office.



Facts: The Federal Reserve rebates its net earnings to the Treasury every year. Consequently, the interest the Treasury pays to the Fed is returned, so the money borrowed from the Fed has no net interest obligation for the Treasury. The government could print its own currency independent of the Fed, but there would be no effective safeguards against abuse of this power for political gain.


MORE HERE

PublicEye.org - The Website of Political Research Associates

On the other hand.... if dad2three is correct..... why is the USA so far in debt!!!!!!!!!!!!!!!!??????