Founding Fathers And Our Illegal Money
George Washington: “They may pass a law to issue paper money, but 20 laws will not make the people receive it. Paper money is founded upon fraud and knavery.”
James Wilson (PA): It will have the most salutary influence on the credit of the United States to remove the possibility of paper money.”
John Langdon (NH) warned that he would reject the entire plan of a federation if the government had the right to issue fiat money.’
George Mason (VA): Said he had a ‘moral hatred’ against paper money.
Thomas Paine (not a delegate) wrote that fiat money was a counterfeit to the state, and that he hated legal tender laws, which FORCE people to accept the counterfeit. He said, speaking of legislators, “The punishment of a member who should move for such a law [legal tender laws] ought to be death.”
The result was a Constitution that gave the power to the Congress to COIN money, and prohibit specifically the states from issuing bills of credit (fiat money). Sound money backed by precious metal reigned free, and the results were economic prosperity. The Pennsylvania Gazette stated that since the Constitution removed the possibility of paper money, their trade increased 50%. The US exports jumped from $19 million to $93 from 1791 to 1801. By 1802 THE DEFICIT VANISHED, and the country experienced a surplus almost as large as the Government’s spending!
George Washington wrote in 1789, “We may one day become a great commercial and flourishing nation. But if in the pursuit of the means we should unfortunately stumble again on unfunded paper money or similar species of fraud, we shall assuredly give a fatal stab to our national credit in its infancy (emphasis added).
I know most Americans still don't understand the fiat money swindle because they haven't revolted yet and the Federal Reserve Board is still in business. They still have a monopoly over money creation. Your government has anti trust laws to supposedly prevent monopolies but something as important as our money supply is totally monopolized by foreign bankers.
Americans still have kooky ideas about why the economy is ruined. Pssst! Pass the word. It the dollar stupid.