Reinstate the Lincoln Greenbacks

Reinstate the Lincoln Greenbacks
http://www.hawaiian-tv.com/showthread.php?t=765

 

The greenbacks were one of the worst things about Lincoln.

 

It would be better than what we have now.

 

A comparatively paltry $3,292,245,392 is all the Constitutionally created money there is in the Nation. It is made up of the following: $346,681,016 of the United States notes-or, as they in derision dubbed, Lincoln Greenbacks. They were made in the Nation's Bureau of Printing and Engraving and were issued interest free, to prosecute the Civil War when the Banks refused to loan Congress money at a lesser rate of interest than 28%. This amount is stll outstanding-$103,338,894 of the $450,000,000 issued having been withdrawn from circulation and destroyed.

This small amount of honest money has saved the Nation more than $11,000,000,000 in interest. Issued Constitutionally-on the credit of the Nation-without the expensive formality of being backed by Government bonds, they provide us an example of the manner in which all of the Nation's money should be issued. However, to even the score, millions of dollars worth of Civil War Bonds are still outstanding and still draw interest to the Banks.

In addition to the "Lincoln Greenbacks" we had on August 30, 1940, $1,818,054,531 in Silver Certificates, issued in part, Constitutionally, before silver was demonetized by the "Crime of 1873." These Silver Certificates are supposed to have 100 cents in silver behind every dollar bill-but actually there is 37 cents. I have already told you of the bitter fight of the Bankers against both of the above mentioned kinds of money, because, of course, this money paid the Bankers no interest-untill after it was deposited in the Banks and loaned out, with many times -frequently up to thirty times-as much check book money, from which time on it pays interest to the Bankers, and how!

 

No, the greenbacks were issued the way money should be issued: debt-free. Our modern debt money system is incomparably inferior to the greenback system. All it does is guarantee inflation, shovel money into banksters' pockets for doing nothing, and create a destructive boom-bust cycle.

 

I would be more than happy to have all FED notes be given the same monetary decree as the greenback at the current price of gold.

 

How about printing more currency with famous clowns portraits? Oh, I forget, thats what the Fed reserve already did to bail out the clowns in the banking and loan shark industry.

 

Since the Federal Reserve is just going to create as much money as it wants, and the government is going to continue spending indefinitely, us American citizens should just band together and create our own currency: the InfinityBack. We could have a Mobius strip on one side and a portrait of Georg Cantor on the other. Denominations would be in the different orders of infinity, for example, we'd have one for the natural numbers, the real numbers, and the complex numbers. Whenever you hand someone an InfinityBack they gain an infinite amount of the same denomination. If the government can get free money, why shouldn't you? Alternatively, we could issue currency with imaginary denominations(i,j,k,w).

 

The greenbacks were pure fiat money and lincoln was another tool of the bankers.

 

The complex numbers have the same order of infinity as the reals according to the mathematicians. Actually the idea of different levels of infinity is BS. Cantor's diagonal argument is crap.

 

Instead of George Cantor can we have Emperor Norton on it? I would back that!

 

Oh, whoops. That was a mistake.

 

True.

Absurd. The banksters hated Lincoln for issuing the greenbacks.

 

No - the bankers merely said they hated him. That's a common ploy of theirs. To say they oppose someone or something they actually support.

 

Well then you need to explain how the greenbacks benefited the banksters. And you can't.

 

Yes i did say. The greenbacks were fiat money and bankers always like that. It means the banks can just buy off politicians to print more money to give to them the bankers.

 

No, they do not, and you have provided, and will provide, no reason to think they do or would.

Silliness. Fiat money is not given to bankers, it is spent into circulation. And fiat money means the bankers have nothing to buy off the politicians WITH.

Your unfamiliarity with all aspects of monetary economics continues to be impressive.

 

Not given to bankers???? Where have you been the last 3 years.

 

With all due respect that is a horrible idea.

 

WE DO NOT LIVE IN A FIAT MONEY SYSTEM, IT IS A DEBT MONEY SYSTEM.

The greenbacks were not, repeat, NOT given to bankers. You are just trying to change the subject because you know you have been proved wrong.

 

Lol... fiat money is debt money

 

So what exactly is an acceptable amount of interest to charge for a legal loan so that you wouldn't consider it "loan sharking"?

Do you believe in loaning money for interest at all?

Government asked banks to make bad home loans in the interests of social justice. As a result, half the home loans in America in 2008 were garbage loans.

Now you say the banks shouldn't get the money the government promised them it would give them if they risked thier financial standing to give bad loans to poor people?

Amazing.

Lets just give homes away for free then is that the plan?

 

Even though I don't like you, you have a point here. People hate banks yet, they borrow money from them. What do they expect... to borrow money and buy cars and houses for free???

 

No. They expect to borrow money and then when they can't repay the loan, they expect Obama(or insert suitable demagogue here) to pay it for them.

They don't want it for free, they want it only so long as paying the loan off does not become a burden. Once it does.. they want Government to take the burden off of them.

Michael Moore calls for it all the time. Says that Government should just pay off every one of the underwater mortgages in America and give those homes to the people and (*)(*)(*)(*) the banks.

 

What are you talking about? So what about AIG, Lehman Brothers, Citi Group, etc that needed to be bailed out?

The homeowners got screwed... very few people got bailed out as we lost $12 trillion in wealth and 8 million jobs. We got royally screwed!!! You're crazy!