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I heard something a while ago on a radio program about banks and money that our paper money (dollar bills) are not money but a bill to pay money. If someone gives you a dollar bill, you are now in debt to them for 1 dollar. It is like a bill for services. Kinda the reverse of what it is suppose to by. So in the end, whomever holds the most paper money, owes the government the most real money.

Has anyone heard of this? I would like to find out more. The guy said banks and currency are named that way because the Banks of a river control the flow of water or the current. Money banks control the flow of currency.

The United States paper currency are notes. Notes equal debt. The United States borrows money from the private corporation, Federal Reserve. The Federal Reserve also is given the rights to print the notes.

In an incomplete nut shell;
I borrow one "credit unit" from you.
(I use the term "credit unit" because the unit is not backed by gold or silver but by the "faith and credit" of the People.)
You print out a note representing one "credit unit".
(Although the note represents a debt, one uses that note to credit an account.)
I then pass that "credit unit" to another in exchange for goods or services.

Secrets of the Federal Reserve;
http://www.apfn.org/apfn/reserve.htm

Federal Reserve - The Movie - Part 1
http://www.youtube.com/watch?v=_dmPchuXIXQ

When you "hold" a note you "hold the debt" ie. someone owes you that amount of money. In the case of the original currency system the govt owed you a set amount of gold and or silver to redeam the paper note. $1 = about .78 oz silver or about 0.048oz of gold.

To look at it a different way the bank holds the note on your car for $10,000 thus you owe the bank $10,000. Who ever "holds" the note is owed the money, product, commodity and or services described by the note with any specified interest etc. Notes exist for almost anything. A share of stock is a note.

And if one can fathom this;
That debt is paid* by the labor one put out to obtain that note since that note is not backed by gold or silver.

*Not including interest.

That begs the question, how much labor was put out by the government when they obtained the notes in the first place???



It takes labor to bring bullion to the surface, and the same goes for oil. Paper "money" costs almost nothing to print. By so doing, the government devalues all of our labor by an equivalent amount.

We need money backed by something or our labor will be worth less and less each day.

Don't you just love an unbacked dollar

As we sit here and watch the price of comodities skyrocket the "economic gurus" tell us that the recession is over because the DOW is up over 9500.

Infaltion due to mass production of paper bills is raising the "value / price" of everything including stocks. There is no real recovery here just loss of buying power because our currency has no backbone and we are printing it like there is no tomorrow.

I wonder when they will revive the $500 and $1000 dollar bill for general circulation we are going to need them pretty soon

Also, if you want to think about it...

Since the government took away our ability to truly pay a debt by abondoning the gold/silver standard, we can't really pay any debts. And since the government took the ability away, what should be their liability for these circumstances they have imposed?

Sil,

Yes, yes I would imagine the dollar is backed by the US citizen's labor. I would imagine they have cool algorithim to place a value on it for the rest of your life. This would be their collateral for acquiring new debt. Next, to improve the balance sheet, I would imagine the government needs to start removing those pesky human liabilities called "senior citizens" that are costing way too much in medicare and social security.

They are working on that right now in the health insurance bill.

That is why the government is not trying to stop illegal immigration. The more people we have here, the less diluted the money becomes. If they figure that every person is worth 2 million dollars [sic], and they print "x" amount of new money, then they need (x)/(2,000,000) new people. If the woman here can't pop out babies fast enough, then they have to bring them in from somewhere else. Of course that is not the only reason why we have illegal imigration. Turning the U.S. into a cesspool is the other objective.

Right now unemployment is much lower in Mexico than here. Many of the migrant workers are migrating that way. Those of you who don't like immigrants can get a new job, cleaning toilets.

Speeking of employment issues: Where are all of those Al Gore green jobs?

All I have noticed is Al getting richer and higher unemployment. Have you looked at how much his net worth has went up in the last few years?

A little bit of conflict of interest if you ask me. But then again he got a Nobel for.... well nobody really knows why just like the last one that was given out. It would be just as valid to give BHO the heisman for watching a college football game as it was to give him a Nobel. At least if you get one in Chemistry or Physics you still have to do somthing real. The "peace prize" is total BS now I would be ashamed to get one (but I would still take the cash)

Sorry for the rant but where are the additional jobs? Not there now will not be there later. I have multiple graduate degrees and 20 years of exp. in this area and it WILL NOT WORK. you can take that to the bank.

I have cleaned plenty of toilets in my life. There is nothing wrong with it. Unless I have to clean them in a place where the people deliberately go out of their way to be pigs. As for immigration; I believe in helping our own people first. After 45 years I have never received any benefits from the government while I continue to see people from other countries come here and receive free money. The government seems to go out of its way to see that I get nothing.