Grievance 45 - Debasing Money

The U.S. Constitution allowed money interests to take control of the
nation's money supply and manipulate it, resulting in a loss of
purchasing power for Americans at-large.

John Maynard Keynes, prominent British economist of the early 1900's,
said there was a process by which the forces of economic law could
destroy a society, and few people were informed enough to diagnose it;

"There is no subtler, no surer way
of overturning the existing basis of
society than to debauch the currency."

U.S. money was slowly corupted as if Keynes' idea was put into practice
against the better judgment of many prominent people, including
President Thomas Jefferson (1801-09);

"If the American people ever allow the
banks to control the issuance of their
currency, first by inflation, then by de-
flation, the banks and corporations
that will grow up around them will de-
prive the people of all their property..."

But in 1913, the government authorized some powerful banks under the
Federal Reserve Act to "control the issuance", and over time the nations
paper currency was made non-redeemable in silver, or "hard" money, as
formerly guaranteed on the face of it. The words "silver certificate"
and "payable to the bearer on demand" were removed and, instead, the
valueless words "Federal Reserve Note" appeared.

"Inflation" became a matter of ongoing concern for the American people
as the purchasing power of one-dollar fell to about ten cents in the
last half of the 20th century.

Economists agreed that unsupported "note" value set by mere fiat, or
arbitrary decree, would be worthless if the economy collapsed, forcing
people to surrender all their property to holders of liens in payment of
their debts. There would be no backup of silver previously promised.

The banking system itself is protested in greater detail in a separate
grievance to a candid world.

With an AUTHENTIC CONSTITUTION in harmony with the natural
Cosmic Laws of the universe, and producing High Moral Values and
Democratic Ideals, money and barter systems are established by willing
exchange of a free people.