The War Being Waged Against Financial Freedom

by Dr. Joseph Mercola April 22, 2023 

Finance guru Catherine Austin Fitts warns that central bank digital currencies (CBDCs) are part of a plan to end all currencies and establish a slavery system

CBDCs will rapidly usher in an era of taxation without representation, leading to the end of liberty

Fitts believes that a deliberate takedown caused Silicon Valley Bank to collapse, in an effort by a variety of players to panic the public and cause a banking run

By creating a banking run, many will take their money out of small banks and put it with the central banks that are at the root of the problem

Leaving the banking system isn’t the answer — finding a good local bank or credit union, and using cash, is

In The Last American Vagabond video above, you can watch Agustín Carstens, general manager for the Bank of International Settlements (BIS), spell out exactly why globalists are promoting central bank digital currencies, or CBDCs, so heavily.........................To Read More...

The 'Zuck' Challenges Greenback

By Ira Stoll, Special to the Sun | July 2, 2019

More than a decade ago The New York Sun unleashed a series of editorials marking the collapse of the value of the dollar as measured in gold and proposing to rename the greenback to personalize the blame. One such editorial was headlined "The Pelosi." Another was "The Greenspan." It was followed by "The Bernanke," a classic of the genre.

The series of editorials trailed off as subsequent stewards of our currency — thank Janet Yellen, Secretary Mnuchin, Speaker Ryan, President Trump, or anyone else who deserves the credit — mostly avoided the weak-dollar error.

The recent announcement by Facebook of a newly formed subsidiary to produce a “digital wallet” for Libra, a new digital currency, had me thinking, though, that it may be time to update the series, with “The Zuckerberg.”...........To Read More...

My Take - Interesting article, but in the 19th century banks used to issue their own currency here in the U.S.  In fact , however, there were problems with that system which caused the Panic of 1907 causing banks to fail. This led to the creation of the Federal Reserve in 1913. 

somehow, I don't really believe there's going to be much confidence with parallel systems of currency, although I've read those who claim banks in Scotland and Hong Kong print their own money.

In the early 19th century Mormons created their own bank and currency  headquartered in Kirtland, Ohio. 

"The issuance of Mormon currency began shortly after the founding of the Church of Jesus Christ of Latter Day Saints in 1830. In 1836 many Mormons had resettled to Kirtland, Ohio from the east coast. There they had decided to start a bank. This was a time when hundreds of banks, both legitimate and not, had sprung up. The number of banks increased with the demand for credit throughout the US. After gathering the plates and printing a significant sum of banknotes the Kirtland Safety Society Bank applied for a charter from the state of Ohio. However, Ohio denied their charter due to lack of capital." 

"This did not stop the Mormons as they came up with an interesting plan. They eventually modified the notes by changing the bank title to “Kirtland Safety Society Anti-Banking Co.” as well as blocking out the titles “Cashier” and “President” and replacing them with “Secretary” and “Treasurer.” This was an attempt to differentiate the institution from a bank as it had no legal charter to operate. Only a small amount of notes were changed and it was only done to the $1, $2 and $3 banknotes, not the higher denominations. Some of these notes were signed by Joseph Smith Jr., the founder of Mormonism and the LDS movement. However, many of these were done by scribes and it is impossible to determine which notes carry a genuine signature. The notes were virtually worthless outside of Kirtland and were often traded at 12.5 cents on the dollar. Eventually the bank collapsed and many of the Mormon inhabitants left the city."

The potential for forgery ran high with these currencies, and there was no backing for a bank that was failing due to bad investments.  The Panic of 1907 was kept from getting worse because J.P. Morgan pumped a lot of his own money into the system to shore it up, and encouraged other banks to do the same.  But it was clear the potential for private currency to impact the economy negatively was very real then, and I think that hasn't changed. 

The real question is this: Can we trust the private banks or internet moguls to handle the currency better than the federal government?  History seems to answer this in the negative. 

One more point.  You might find the story of J. S. G. Boggs interesting. 

The Many Roads to Currency Ruination

Frank O. Trotter, Executive Vice President – EverBank

Total abject failure. Mad Max. Breakdown of society. Chaos.  How’s that for an upbeat start? Failure is a tough thing to talk about, particularly here in the US where it’s all about optimism. What’s the best? Who's the fastest? Where should I put my money for the highest return? But examining failures can help us avoid mistakes. So let’s take a tour of a few currencies and money systems that fell apart. We’ll learn some principles of sound money and hopefully, have a little fun.

What Is Money?  Even though we don’t think about it every day, we all know that money is a fiction. It is a medium of exchange – a token we pass back and forth instead of bartering, and a store of value that keeps score of our assets and debts. It is based on belief and faith—nothing more. At times, money has been metals or tobacco or wampum. There are the famous Yap Island stones. At other times, like today, paper tokens with no intrinsic value stand in as money…......To Read More.....

How the Paper Money Experiment Will End

Mises Daily: Friday, December 13, 2013 by Philipp Bagus

A paper currency system contains the seeds of its own destruction. The temptation for the monopolist money producer to increase the money supply is almost irresistible. In such a system with a constantly increasing money supply and, as a consequence, constantly increasing prices, it does not make much sense to save in cash to purchase assets later. A better strategy, given this senario, is to go into debt to purchase assets and pay back the debts later with a devalued currency. Moreover, it makes sense to purchase assets that can later be pledged as collateral to obtain further bank loans. A paper money system leads to excessive debt.   This is especially true of players that can expect that they will be bailed out with newly produced money such as big businesses, banks, and the government…… There are at least seven possibilities:

1. Inflate. 2. Default on Entitlements. 3. Repudiate Debt. 4. Financial Repression. 5. Pay Off Debt. 6. Currency Reform. 7. Bail-in. ....To Read More.....