The UsuryFree Eye Opener

The UsuryFree Eye Opener is the electronic arm of the UsuryFree Network. It seeks active usuryfree creatives to help advance our mission of creating a usuryfree lifestyle for everyone on this planet. Our motto is 'peace and plenty before 2020.' The UsuryFree Eye Opener publishes not only articles related to the problems associated with our orthodox, usury-based 1/(s-i) system but also to the solutions as offered by active usuryfree creatives - and much more for your re-education.

Wednesday, January 13, 2010

Before Money Disappears Again ...

Let Municipal Tax Credit Certificates Appear …

an article penned in 1986 by Tom J. Kenendy and published in the LEADS Newsletter is now posted at this website:

When the money lenders stop lending new money into circulation, money disappears. There was virtually no money in circulation after the ‘Crash of 1929.’ That is to say, money disappeared. There were groceries in the corner store; there were tools in the local hardware store; there were houses for sale on every street; there were countless thousands of laborers willing to work for less than 20 cents per hour, but no money. Why did the money disappear?

The answer is simple. What happened then had happened before, and will happen again. To better understand simple economics, study this example: “If there is only $10.00 in existence and you borrow it from someone under conditions that you repay the $10.00 plus 10% interest ($1.00), then you have agreed to the impossible.”

The first defaults under such a devious lending system are recorded from the Babylonian Economic System – 2000 B.C. The Baal priests were lending 10 Talents and demanding payment of 11 Talents. By this action the heathen Babylonians were in violation of God’s Law against usury and reducing tens of thousands of Babylonians to slavery. In this 21st Century, the orthodox banking system is in violation of God’s Law against usury, a millions of people (debtors) in North America are paying much more than 10% usury (interest) on outstanding credit card debt well beyond the billion dollar mark.

It is straightforward and easy to understand that if you borrow 10 units and you are forced to repay 11 units to the usurer or the supplier of the loan will eventually end up with your property as the units (money) disappear in repayment of your loan.

In 1929, the small floating supply of ready money that was in circulation was quickly used up to pay maturing debts. Since all properties already had IOU’s attached, there was absolutely nothing left to mortgage. Therefore, the citizens could not borrow new money into existence to replace the money that vanished when paid against former debts.

Consider the case of the vanishing dollar. A consumer pays the grocer a dollar for a loaf of bread; the grocer gives the dollar to his banker as payment against his debt to avoid foreclosure. At the moment the banker’s computer accepts the $1.00 to cancel out the grocer’s $1.00 debt, the dollar vanishes. There is a dollar in circulation before the consumer spends it at the grocer’s, who immediately pays it to the banker, whereupon it disappears. Because of this simple transaction, there is $1.00 less in circulation.

The money vacuum of 1930’s was caused in precisely this manner without computers. Employers could not pay workers; renters could not pay rent; farmers could not buy seed; and consumers could not even buy groceries. Without knowing that the bankers control the monetary system and not the government, many people called for the government to print money. Of course, the government could not do this without violating a sacred agreement (contract) made with the bankers.

Finally, after the numbers of destitute swelled to a dangerous level, the government borrowed again from the bankers to pay for ‘make work’ programs. This action, of course, put new money in circulation again so that the bankers could once again exact usury.

The people of the United States being just as desperate as Canadians, decided to make and issue their own money just as their ancestors made ‘tallies’ when money disappeared. Various cities across the United States and Canada printed and issued usury free, paper scrip otherwise known as ‘Tax Credit Certificates.’ These tax credit certificates had value, for they were accepted as payment for taxes in the city which issues them. The City Fathers paid their policemen, firemen, and all city employees with this ‘scrip.’

Recognizing that this ‘scrip’ had value as a Tax Credit Certificate, free enterprisers agreed to accept it in exchange for goods and/or services. In fact, many free enterprisers followed the lead and issued their own unique ‘scrip’ redeemable in goods and/or services from their respective enterprises. In a short time all free enterprisers were trading ‘scrip.’

Municipal work projects which had been postponed because of a previous shortage of funds were now undertaken and successfully completed and paid for in ‘scrip.’ All ‘scrip’ was retired from circulation when it was tendered for municipal taxes. This municipal ‘scrip system’ which grew out of a need in the 1930’s all across North America left no debt in those local communities that participated. Rather, there emerged an abundance of different kinds of ‘scrip’ money in addition to the traditional, usury-bearing federal money. Free enterprisers in local communities held regular meetings to determine which kinds of scrip would be accepted on par with the municipal ‘tax credit certificates.’

Since the banks demanded only usury-bearing federal dollars, which were in short supply, as payment for debt, countless thousands of the destitute had their homes foreclosed. The public turned against the banks and the rates of usury did plummet to record low levels. However, the politicians who were indebted to the bankers made sure that only usury-bearing federal dollars could be accepted as payment for federal taxes. The politicians also initiated public works programs with more federal dollars borrowed from private bankers to start a new inflationary cycle.

While various forms of usuryfree, municipal ‘scrip’ were accepted in local communities, the usury-bearing federal dollars were accepted by law everywhere. Had the federal politicians sided with the people, the usuryfree ‘scrip’ could very well have won out over the usury-bearing federal dollars (and all of North America could have become freed of usury-bearing debt).

Various present indicators and parallels of history point to a day in the not-too-distant future when the moneylenders will stop lending again. When new money stops coming into circulation, usury payments on maturing debts will quickly cause the money to disappear in both the United States and Canada.

There will be goods available as well as skills to provide the services, but just like in the 1930’s there will be no way to make a transaction unless people learn to create and spend their own usuryfree time currency to permit them to engage in barter or trade. However, just as happened previously, the free enterprisers will quickly acquire an abundance of merchandise which they really don’t want or need and they will demand something that can be used to move the goods from the stocked shelves to homes and tables.

What they will demand is ‘Municipal Scrip’ or ‘Tax Credit Notes.’ Any municipal government ought to be able to have ‘Municipal Tax Credit Notes’ printed and ready to be in circulation within two days, given the ease of modern technology.

Since most of the present breed of municipal politicians will never have heard of this solution to the ‘shortage of funds,’ it is up to you, the reader of this article to initiate the learning process. Expect opposition from those who benefit from the growth of the debt (caused by the design flaw of usury), since the creation of ‘municipal scrip’ will slow their assignment to steadily foreclose on properties and buildings in local communities.

Send a copy of this article to your municipal politicians. Suggest that s/he start the ball rolling by lobbying other politicians to do what some communities did in the 1930’s; pay municipal employees, the local contractors, the policemen, the firemen, and the teachers with ‘municipal scrip’ redeemable for property taxes. Re-educate your municipal politicians NOW, don’t wait until the day when ‘Money Disappears Again.’

The ideas in this article are presented with a clear and concise approach in a book War Cycles/Peace Cycles authored by Richard Kelly Hoskins. His articles have been published in newsletters and magazines throughout North America. Having more than a quarter century of experience working with Wall Street in the mid-20th Century, Richard Kelly Hoskins gives a good understanding of the principles of usury and money from both a business point of view and a scriptural point of view.

Before Money Disappears Again Let Municipal Tax Credit Certificates Appear … is reprinted from the LEADS Bi-Monthly Newsletter – Jan/Feb 1986

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