By Jaro
Did
you know that from 1863 to 1929, USA was issuing NATIONAL CURRENCY?
I.e. paper money of the republic which were backed by silver and
gold, as they REALLY were redeemable in those coins on demand.
There
were 14,000 PRIVATE banks that were CHARTERED by USA to issue that
money. These
banknotes had "NATIONAL CURRENCY" printed on them, and
were backed by GOLD and issued by local AMERICAN banks. Those
put up bonds with the US Treasury, and then could issue/print 90% of
the worth of those bonds.
The
red/blue number is the charter number of that bank. This currency was
backed by deposits of bonds and gold notes with the Treasury.
That way, the banknotes were backed by assets of those American banks (which of course came from the American people). And if the bank failed to redeem those banknotes on demand in gold or silver, then the US Treasury would redeem them and take over that particular bank due to nonpayment of its obligations.
That way, the banknotes were backed by assets of those American banks (which of course came from the American people). And if the bank failed to redeem those banknotes on demand in gold or silver, then the US Treasury would redeem them and take over that particular bank due to nonpayment of its obligations.
These
were authorized by Act of June 3, 1864
Interestingly,
Federal Reserve was ONE of those banks. So it
wasn't until 1933 when all these bank charters were abolished, and
were replaced with a SINGLE charter to the Federal Reserve.
BUT,
that single charter was NOT for issuing NATIONAL (USA) currency, it
was for issuing an INTERNAL (US) currency of the federal gov't.
So
in 1933, they replaced 14,000 NATIONAL banks with a single FEDERAL
Reserve System, which would then issue PRIVATE currency which is
backed by NOTHING of real value.
So
your 'money' today (FRNs) is NOT a NATIONAL currency, just a private
scrip of the United States corporation. Not
much different from CHIPS in a CASINO.
In
other words, if it DOESN'T say "NATIONAL CURRENCY" on the
bank note, it is NOT a national currency!
And
that’s how thousands of NATIONAL banks (who
dealt in HONEST money backed by gold), were
replaced by a single FEDERAL Central bank system (who
deals in FIAT money, backed by NOTHING).
Also,
in addition to all these private bank-issued bank notes, there were
UNITED STATES NOTES (red seal) issued directly by the US Treasury,
but those seem to be rather rare from before 1928, so
until that time, the PRIVATE-BANK issued NATIONAL CURRENCY, seems to
have been the MOST USED paper currency in America.
So
until 1933, money was put into circulation by thousands of LOCAL
banks owned by private businessmen, rather than by one CENTRAL BANK
owned by a handful of rich banksters. I.e. running
a bank back then, was a business as any other, and ANYONE with a
little capital could start one.
And
these LOCAL banks dealt in REAL MONEY (banknotes backed by gold),
while the current Central Bank (FedRes) deals in green paper that’s
NOT backed by gold or anything of value.
**************
It’s
kinda like being an attorney. Back in the days of the Republic,
ANYONE with some knowledge of the law, could be a lawyer (no license
required), while today it’s a PRIVILEGED occupation which requires
a BAR card.
So
America was taken over by special interests, where we must jump
through the gov’t hoops, in the country that we the People own.
**********************
Here's
what Wikipedia says:
"The National
Banking Acts of 1863 and 1864 were
two United States federal banking acts that established a system
ofnational
banks for
banks, and created the United States National Banking System. They
encouraged development of a national currency backed by bank holdings
of U.S. Treasury securities and established the Office
of the Comptroller of the Currency as
part of the United
States Department of the Treasury and
authorized the Comptroller to examine and regulate nationally
chartered banks. The Act shaped today's national banking system and
its support of a uniform U.S. banking policy."
And
US Code:
12 U.S. Code § 38 - The National Bank Act
The
Act entitled “An Act to provide a national currency secured by a
pledge of United States bonds, and to provide for the circulation and
redemption thereof,” approved June 3, 1864, shall be known as
“The National Bank Act.”
BTW,
since ownership of gold is no longer illegal and the 1864 Act is
still in the 12USC38, it probably might be possible to start a
PRIVATE bank with a deposit of US bonds in the Treasury, and receive
in return NATIONAL CURRENCY banknotes like the one's pictured above.
GET
OUT OF DEBT NOW!. http://www.newdebtelimination.com
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