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$$ Money Creation: Why Most Pundits are Deceived!

April 6, 2013

Let’s ask a few questions which relate to how our American ‘dollar’ evolved and then let’s discern why today’s money creation process is deceptive and corrupt! Let’s focus on the word ‘dollar’!

The word ‘dollar’ derives from my/your Mind and then is applied as a ‘name’ to denote some ‘thing’ of value. Back in 1785, Thomas Jefferson and others desired that America create their own monetary system (separate from the British system) as we were starting a new Nation and had won the Revolutionary War over the British. The British monetary system used currency names like ‘pence’, ‘shilling’, and ‘pound’ for their coins and paper instruments. Many of our Colonies had adopted this British system for valuation within the marketplace. After the War, however, this changed. At a meeting of the Continental Congress in 1785 a decision was made to adopt a basic monetary unit for Americans. The unit chosen was the ‘dollar’. Subsidiary units were the half-dollar, quarter, dime, nickel, and penny. Thomas Jefferson was mostly responsible for creating our concept of money and the philosophy which emerged. See Coinage Act of 1792 for details.

We might say that the Mind of Thomas Jefferson desired that the word ‘dollar’ be our basic unit of account for measuring economic value within the marketplace. But what is a ‘name’ (say dollar) without some denotation and/or definition? Isn’t a ‘name’ or a ‘word’ merely a unit of Consciousness (a ‘no thing’)? Does a ‘name’ or a ‘word’ have any meaning in and by itself (as a unit of the Mind)? Jefferson recognized that the ‘name’ dollar must denote some ‘thing’ of intrinsic value and then be defined if it were to acquire any meaning! So what did his Mind conceive? What Jefferson proceeded to do is to denote the ‘name’ dollar in terms of silver and then define the ‘name’ specifically as 371.25 grains of silver. This immediately gave the ‘name’ meaning and usefulness for valuation of other goods and services.

Jefferson assayed the Spanish Silver coin which most traders in the marketplace viewed as valuable and acceptable…for valuation purposes in all American settings. This assay revealed that this Spanish coin contained 371.25 grains of silver. Jefferson now had evidence for creating our American dollar with these same specifications. So let’s follow the evolution of our ‘dollar’ over the years from its origin in the Mind of Jefferson to our current ‘dollar’ which is now a mental abstraction in the Mind of Bernanke. Basically, our ‘dollar’ remained as Jefferson defined and created it until 1834. Then the definition changed as the market valuation for silver changed (in terms of gold). Congress then adopted gold as the basic definition of our dollar going forward with silver a secondary unit of account.

Gradually, over the years from 1834 to 1933, our ‘dollar’ remained relatively constant in terms of meaning until the Big Change during the Administration of Franklin D. Roosevelt. After the Great Stock Market Crash of 1929 and the ensuing deflation of asset values, FDR and his advisors desired to eliminate the historical American silver/gold standard and create a Fiat based money unit. What emerged was a Fiat paper dollar (with no backing). This ‘dollar’ was forced upon the American people by FDR and his economic advisors. The idea was that our newly created Federal Reserve Bank (created by the Federal Reserve Act of 1913) would centralize our monetary system under their elite control. This created our forced legal tender money which has served our needs since this origin.

Foreigners, however, after WWII and the Bretton Woods Agreement, did not desire an unbacked currency controlled totally by our Federal Reserve System. This resulted in our agreement to back our ‘dollar’ for these foreigners with our hoard of gold (some 740 million ounces in 1944). All this resulted in a definition of our dollar as 13.71 grains of gold ($35/ounce) for international purposes. Americans continued to view our domestic fiat dollar as also backed by gold even though it wasn’t. Silver did back part of our ‘dollar’, however, until 1968. Then in 1971, our then President Nixon recognized that our gold hoard had decreased to some 271 million ounces from its 1944 hoard of 740 million ounces. This alerted he and his advisors to immediately close the access to our gold window going forward.

The Nixon Shock of 1971, resulted in a new definition for our American dollar. The definition was ‘Nothing’, ‘No Thing’, ‘No intrinsic Value’,  Merely a ‘Name’ (dollar), a ‘Symbol’ ($), and a ‘Number’ (1.00). In 1973, our financial experts created our ‘Index Dollar’. This ‘dollar’ was merely a mathematical number derived via the weighted average of other fiat (no thing) currencies. The circulating dollar was a paper note which we called a Fiat Dollar. This dollar had no backing and no intrinsic value. Value was touted to be our ‘FAITH’ in our Country and its Administrators. Faith was expressed as ‘in God we trust’ all others must pay cash (to emphasize our ‘faith’ in paper and Country).

Then in the late 1990’s (for financial events) a new technology emerged called the Computer. This technology allowed us to convert all our ‘paper’ instruments into Virtual instruments (images within the computer screen). The Information Age had arrived and our ‘dollar’ evolved into a unit of information (bits and bytes) which today we call the ‘digital dollar’. This ‘dollar’ is much different from our original silver dollar and also much different from our paper fiat dollar. We now could create our ‘dollars’ via the press of some computer keys or the click of a computer mouse. Our dollar no longer could be ‘held’ in our hand but we could witness its image as $1.00 in the computer screen. What else happened?

As the Digital Age emerged in the late 1990’s our Centralized monetary policy also changed. We could now create money via mathematical algorithms and econometric formulae within the computer screen. This resulted in our experts creating a network of electronic computers for the entire system of American commerce. Banking became a computer transaction and money became a digit within the computer screen. This gradually evolved into a Global Network of Computers for all Global Commerce (what we witness today). Our Global Internet Society has emerged along with a Global Network of Finance, Banking, and Centralized Control for all money creation.

The financial Crash of 2008 further changed our centralized monetary system. Central Bankers (with the initial creativity of our Fed Chairman, Ben Shalom Bernanke) started to create digital money for the marketplace…Out of his internal thinking Mind. Some call this ‘Out of Thin Air’ and others call this Out of Nothing. Rather than have our Bureau of Printing and Engraving ‘print’ new dollars for circulation our Central Bank could now just ‘digitize’ dollars via the computer. What emerged after 2008 is usually called ‘quantitative easing’ or QE. The layman’s term would be ‘official counterfeiting’ of our dollar. So what a ride our ‘dollar’ has endured these past 236 years!

Today, we have a very deceptive and corrupt financial system which is administered by a deceptive and corrupt centralized bureaucracy (which we call The Fed). Dollars are now ‘mental abstractions’ or units of Consciousness. We could also call the ‘dollar’ a figment of Ben Bernanke’s imagination or of Our imagination. Our ‘dollar’ is now NOTHING, NO WHERE, and NO THING (physical). Is a unit of Consciousness a ‘thing’? I don’t think so! What we have today are ‘dollars’ from HEAVEN (the Mind of Ben Shalom Bernanke). In Japan we have ‘Yen’ from HEAVEN (the Mind of H. Kuroda). In England we have ‘Pounds’ from HEAVEN (the Mind of Mervyn King). In the Eurozone we have ‘Euros’ from HEAVEN (the Mind of Mario Draghi). Etc. Etc. all around the Globe!

Money and currencies have evolved into UNITS OF CONSCIOUSNESS (a metaphysical/spiritual reality). The realm of the MIND has arrived on planet Earth. THINK and grow rich! THINK and then create ‘digit’ dollars. THINK and then create euros, yen, pounds, rubles, yuan, etc. The WORD ‘dollar’ has evolved into its starting origin (the MIND of THOMAS JEFFERSON was the origin of our word called ‘dollar’). So what is all this leading to going forward? Is Official Counterfeiting the TREND in MOTION for the coming tribulation years? What will our Central Bankers create for our new WORLD?

I would suggest that this is leading to a HUGE collapse of ALL currencies on this Planet at some point soon! What has emerged is a ‘dollar’ from Heaven that is really SPIRITUAL (mental). Spiritual money is beyond all the Principles of finance and Capitalism that created our existing Wealth and Prosperity since our founding. Spiritual money has no relevance for Capitalism or for Valuation of Capital Goods and/or Services. Spiritual money is SUBJECTIVE. Every person must now decide how to ride out the coming spiritual tribulation (which is mostly originating with our current corrupt financial system).

For those with WISDOM you may want to transition your existing ‘spiritual money’ into something non-spiritual (like silver coins, gold coins, paper legal tender notes, or an item for barter). Jack Daniels Black may work for some. Absolute Vodka may work for some. Unique artifacts may work for some. Even cigarettes and gallon cans of petrol may work for some. You provide your own creativity going forward. Change is coming and 2013 may be the beginning of the END. That is my missive for today! I   am:  https://kingdomecon.wordpress.com.

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