Which allowed the seperate national commercial banks to issue their own notes under supervision of the treasury, wasn't all U.S. paper money trickled out from payments to the armed forces?
Prior to the National Banking Acts of the 1800s
Mason Carter
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Ryan Rivera
The federal reserve act just centralized the currency issuance.
James Morales
>trickled out from payments to the armed forces?
yes
Eli Jackson
jews suck
Jose Lopez
>central banks are Jewish
Where did this meme start anyways?
Jaxson Smith
yes, the green backs came from the civil war.
anyone could also bring silver to the government and have it struck into coins free of charge
Nolan Foster
bump for a subject I LOVE. I am a relative expert on wildcat banks in Michigan (they only lasted from 1837-~1843)
Crypto is a LOT like the wildcat system. Picture is a $10 note from the Bank of the United States.
David Mitchell
>anyone could also bring silver to the government and have it struck into coins free of charge
When did the U.S. govt. stop offering this service? Before anyone says
>jews
Luke Parker
>Crypto is a LOT like the wildcat system.
Only in the sense that different coins are issued by different groups of entrepreneurs. But crypto has way more nuance. Not all coins are equal in the tech.
Brayden Perry
I have to keep reminding myself that in the early days, the coin had more intrinsic value than the metal. So a one ounce gold coin is still stamped at being worth $50, and we think 'ya, for >$100 gold'. But back in the 1800's, a one ounce gold coin (valued I think at $20) only had something like $5 of gold in it.
The shortage of currency is what created the wildcat banks; they created a whole new type of mess.
Benjamin Morris
in the early 1900s when the federal reserve was created
bitchute.com
Blake Baker
We should go back to free market banking.
Benjamin James
we should go back to regional banking, national banks are a disgrace
Connor Davis
I meant in several other ways...
Under the 1837 Michigan banking act; any 12 people could get together and start a bank with between $50k and $300k in capital. They only had to put 1/3 down before they could print bills. So put in $100k, and you suddenly have $300k in "money".
Like crypto, there was a lot of trading of bills; with some people worth more than others. So the bank of the US would have been the bitcoin. And (for at least Michigan), the Morris Canal and Banking Company (see image) was the ETH. What no one knew is that neither of them had real cash either. Both went broke, which completely screwed everyone.
Julian Johnson
American banks gained control of Thomas Edison’s General Electric company in 1882 after a banking crisis caused them to call in his loans, the same thing happened to George Westinghouse in 1907.
Andrew Ramirez
>when the federal reserve was created
The federal centralized notes were still "backed" by silver and gold until Nixon; why were Public Mints shut down?
Charles Morris
the gold double eagles in 1850 were a little less than 1 oz and were worth $20.
Wyatt Harris
>We should go back to free market banking
Regional banking with public mints is one option; crypto is another option. We will always need paper notes. The treasury and the IRS need to get the goddammn communists out of our government so the IRS can develop common sense regulations.
Jeremiah Gray
if you watch the video I posted you'll see that the central bankers / money changers have been in a constant struggle to wrestled control of nation's currencies for the last few thousand years
they shut down the mints to gain a monopoly on money production
David Moore
Government money before central banking was always used mainly to pay soldiers and law enforcement of sorts.
Hence why perpetual war was always PM the menu in Europe.
Central banking pretty much tames humans to not be blood thirsty, loot hungry animals.
Evan Ross
>So the bank of the US would have been the bitcoin. And (for at least Michigan), the Morris Canal and Banking Company (see image) was the ETH.
Terrible analogy. The crypto system is something new.
The oldest running blockchain is the most valuable; because the more blocks in the chain the more impossible it is to hack, crack, or forge/counterfeit. All other coins are measured in value to BTC, not USD.
Leo Gonzalez
Reality, thousands of years ago. Banking has always been predminantly a jewish enterprise. This includes any other area which utilized similar usurious practices, like pawn brokering. The local peoples rightly recognized the practice as harmful, and didn't regularly engage in it, but the jews were rootless travelers and would leave before they could face retribution for the damage they cause.
Liam Rogers
central banks have instigated every major conflict the US has been involved in since its inception. the fuck you smoking leaf?
Thomas Jenkins
Oh it's very similar. In both cases, you have random people just creating 'wealth" out of thin air; with most notes/coin being used for speculation instead of use; and with no real cash backing up any of it.
When the bank examiner of Michigan finally got around to checking, at least a few were rushing the same money from bank to bank to be counted in the vault.
And the "blockchain" is worthless. It's nice tech, but it has no real value; except to those who hope to make profit off of it.