Musing on money, again

Yes, the banksters have been central to the exploitation upon which the commercial sector relies. Their role was formalized in 1919 when Congress was persuaded to set up the Federal Reserve Bank system and effectively surrendered its obligation to manage the distribution of the currency. Ironically, this move was originated by the financial geniuses who then went bankrupt on Jekyll Island off the coast of Georgia, based on the argument that the members of Congress are unreliable and could not be counted on to give banksters a monopoly on the distribution of currency.

Perhaps one of the most aignificant consequences of the Civil War that nobody mentions is that while before the War some individual states produced their own currency, after the War, the U.S. Treasury set up a monopoly. No doubt, it had not gone unnoticed that the Confederacy funded its initial rebellion with its own currency. Very likely, the Union persuading European suppliers of munitions and other military hardware to refuse Confederate currency in payment helped turn the tide.

Anyway, now that U.S. currency has been severed from gold, the only value of our certified IOUs is derived from the credibility of the American citizenry, in whose name they are issued. If we do not honor our debts, then our name is toast.

And that is probably also true, if we do not honor our dead. That is what makes putting our soldiers up for sale so very bad—so bad that it will take a while for it to register. There is a difference between compensating our soldiers for their labor and service and letting the enemy pay to kill them.