Money: The Greatest Hoax On Earth – Excerpt

Excerpt from Money: The Greatest Hoax On Earth by Merrill Jenkins

These media we are learning about may be material things, produced by labor, and having use value itself: copper, iron, brass, lead, bronze, nickel, paper, gold, silver, ivory, beer, salt, corn, rice, knives, hoes, tea, etc., etc. Any wealth in a durable divisible, transportable form may be used as I common medium of exchange. As long as the item used is in sufficient quantity to contain use value in proportion to the use value of the item it was exchanged for, it is non-inflationary, and can never be otherwise. In quantity, it is readily available for consumption directly at full use-value, or can be exchanged many times in proportion to its use-value (worth), or can be saved as a store of use-value. Such items as wealth media of exchange have the distinction of being demand or supply at the same time, with the role they will play being at all times at the disposal of the holder-owner. All transactions are final, complete, and fair at the time and place of the exchange.

Inflation cannot happen in this free market since supply purchased, and consumed, ceases to exist (having been consumed in use), and any supply that was converted to wealth media, and continues to exist is both demand and supply at the same time. Since inflation cannot exist in a free market, we must conclude that any market suffering the inflationary effect is not a free market. In this treatment of the wage-earner and his savings, we have not had one reference to “money.” Money, with its use in the market, causes the “failing dollar parity.” No market that uses “money” is a free market! The laws that force money upon a market deprive that market of its freedom.

The media we have been learning about were wealth, and the wealth in media form (gold-silver coins) for easy exchanges is real demand or supply. The old gold and silver coins that were used during the years of our country’s greatest advancement are no longer with us; they were wealth, and everyone “knows” wealth doesn’t work; the bankers taught us that gold (wealth) is a barbaric metal, it only works for governments and international bankers. When the people use it, it is bad for the country. Hitler told us that, also Stalin. Gold in the hands of the people is bad, bad, bad. Our Treasury says our people cannot be trusted with the means of controlling their government. There is no telling what the people may do. So our government in its infinite “wisdom” forbids us to use gold coins. Why? Because we have money, that is why! And it is better for the country that we the people use money. Gold requires labor to get it out of the ground and brought to market, and what banker wants to get his hands dirty. Now “money”, that is different. “It” can be created easily, and abundantly -40, 000 pounds of paper, 21/2 tons of ink, and one day’s labor of the personnel, and 50,000,000 bills of any denomination can be created. just think-for less than 0.000 17 1 oz. gold we can print a bill that can be exchanged for over a ton of gold, 3,121.0 oz. troy, to be exact. That is 18,000,000 times the cost to print the bill, or its worth. All they had to do was pass a law that says the people must give up their production for the banker’s paper worth only 1/18,000,000th. of the value of the goods they give up.

The difference between the cost of production, or the use-value of the medium, and its valuation is infinitely variable. There isn’t any set figure for it, but the “difference” is “inflation” in itself. When any difference exists, that difference is imaginary demand without being supply. Money is not a commodity, it is an intangible, it is a nothing, but it is very difficult to determine its exact volume contained in the various forms of legal tender. In a coin containing 90% silver, the general relationship can be said to be 90% commodity with use-value, and 10% money-that is 90% of the coin is a demand or supply medium, and the other 10% is imaginary demand only (without me-value that could be “supply”). The 10% that is “commodity missing” is intangible, immaterial. It does not exist, but since the coin has valuation of 100% (face value), it exchanges for 100% of its valuation in your production goods, but you only receive 90% wealth in return, therefore leaving a void of 10% which is inflation.

If shortly after the exchange the holder-owner would want t6 use the coin at its use value, and consume it as commodity, he would find he had been short-changed 10%. In other words, 10% of the transaction receipt would not be readily available to be directly consumed. The created money here is the difference between the bullion cost, and the valuation of the coin minted, and is called “seigniorage” in the language of the mint.

At this point, and where coins are concerned, “seigniorage” and “money” are one andthe same. The coins are an excellent way to see the money variation, on in the coinage. We have the half dollar or fifty-cent piece, which has in just seven years (1964-71) changed from being 90% demand or supply media to 97% imaginary demand (inflation), that is, 3C demand or supply in the form of copper-nickel and 97% money! Up to 1964. the U.S. half dollar had 9096 silver content (90% demand or supply, and 10% money); from 1965 through 1969 it contained 40% silver (40% demand or supply and 60% money); then in 1971 U. S. half dollars with “zero” silver content were minted. The use-value of the copper and nickel content of it is barely 3% of the use-value of the products people must give up in exchange for it. Think of that when you exchange your production for our newest coinage. Ninety-seven per cent of the supply goes to the creator of the coin as profit, and only 3% continues on as a demand-supply medium to the people. Whether it is the treasury creating a coin at the mint, or a paper dollar created at the government Bureau of Printing and Engraving for the Fed, or a “dollar” credit creation at the commercial bank member of the Federal Reserve System, money is always the same. Money is imaginary demand created without the quality of being directly usable as a commodity since its commodity value is somewhere within a range of 0.9 to L0 ratio to: 18,000,000.0 to 1.0.

Whoever creates the money gets the profit from its creation, and the excessive profit is always hidden because of the valuation of the currency. The legal tender law says it is legal tender for what we exchange it for. Legal tender law forces the people to accept’ something that can be worth only 1/18,000,000th. of the value printed or stamped on it. Taking this amount of profit is robbery or burglary, according to whether or not you are aware of the true conditions. In any case, it is stealing, and its effect on our market and economy is ruinous, whenever anyone can create money, and take from our economy great quantities of our products without having had to labor to produce the media; it has a tremendous and irrevocable unbalancing effect on that economy. It is “licensed stealing” and cannot be justified in any way. The missing supply represented by the money mass now creates an equation where no equation could exist before. Money (imaginary demand) without being supply now can exist on the opposite side of the equation, and create the tremendous imbalance which results in a “falling dollar parity,” the dollars (imaginary demand) on one side, and the demand or supply media as “supply” on the other. Only by the combination of legal tender law, and money, can our free market natural parities be upset, forcing the people to take dollars for products in lieu of products in return is interference with the free operation of the market, and manifests itself in the immediate formation of a mass of money (imaginary demand) that cannot in any way be eliminated by anyone except its creator (he has the wealth for which it was exchanged and would have to redeem it). And until the creator can be forced to redeem it, the market has to absorb it. The market now has an imbalance, and the imbalance is inflation, and inflation can only be eliminated by deflation; deflation by redemption or repudiation and repudiation means all losses acknowledged and suffered.

To make it perfectly clear that using only demand or supply (wealth) items as media prevents interference with a free market, and that money itself is inflation, we will prove to ourselves that creating imaginary demand that is not supply is absolutely ruinous to the economy. With a little experiment, and using our own personal economics as a model, we can prove it.

it is possible to open a checking account at a bank and deposit only enough to open the account, and then live like a king without having to labor anywhere near the equivalent of the labor that went into the production in goods and services you can use and consume by the very simple art of creating imaginary demand without creating supply in equivalent amount.

The practice here outlined is forbidden to us by law; so although this can be done in actuality, it can be understood just as well if only done on paper, for example purposes only. We have opened our account, and have received our checkbook, and are now about to embark on the good life.

First, decide how much money you would like per week to live on-$100.00, $200.00 or $300.00 or what. Then decide when you want your pay-day to be, daily, weekly, or monthly. For our example we will start with $125 .00 a week, and we wish to be paid daily, on week days. On Monday we write ourselves a check for $25.00, and cash it at the local supermarket; that is our first $ 25.00, use it, and enjoy it, it is for spending on the good life. Tuesday write a check for $50.00, cash it at the supermarket, and send $25.00 to the bank to cover the check from Monday, the other $25-00 is for spending, use it, and enjoy it. Wednesday write a check for $75.00, cash it, and send S50.00 to the bank and spend the other $25.00. Thursday write a check for $100.00, cash it, send $75.00 to the bank, and the other $25.00 is yours. The life you are leading is good; you decided on $25.00 a day, but you could have $50.00 or $ 100-00 a day, it is just as easy. You do not have to pledge anything to qualify for the money. You just write check, and cash them, and as long as you write a bigger one every day, and send the amount needed to cover the check from the day before to the bank, you can go on like this. It takes more than one day for the check you write to go from the store where you cash it, to its bank, and then through the clearing house to your bank for collection. As long as you make sure you cash a bigger check each day, and deposit the amount necessary to cover the check from the day before, you have got it made.

What you are doing is using your ‘ credit-creation” power. When you cash your check at the store, the cashier believes you have the money in your checking account to cover it, and since your intentions are good, its no use to get sticky about it, you know that by the time the check gets to your bank for collection, the money will be there, so it’s a silly rule to say that you must have the money on deposit before you write the check. You know you are good for it. You know the Treasury of the United States sells treasury bills to the people before they get the tax collections from the people to cover them. They do it all the time every day, day in and day out. Why can’t you?

Big corporations, when big loans come due, simply refinance. Well, is that any different, when you have a check due for collection, you simply write a bigger one to cover the one due, and a little extra to live on; that isn’t any different from what big business does each and every day. Writing bigger checks each successiveday, it doesn’t take long till the check is quite large, and it might be difficult to cash it at the store, so simply write two checks at that point, and use two stores. You can go on quite a bit longer then before the two of them become large, and you might have to split again; but if you just keep your wits about you, you can live like a king, and only have to write checks and cash them as your only labor expended. All you are doing is using your credit creative powers, and since only you are involved in it, you can decide how much credit to extend to yourself. Our Treasury has been creating bonds for over fifty-eight years at this writing, and is still going strong. They “cash” the bonds at the bank as collateral for the loans and they simply create more bonds when they need money for interest (writing a bigger check). Our system is even better. You don’t have to make a loan, just -decide to use your own credit creative power like the bankers do themselves. The banker creates the dollars; there isn’t any deposit anywhere with which to pay them off. They have even a better system, They create it to start with, and use it to buy from us. We cannot ask them to redeem them, but they insist you send them the money to redeem your check, but then, again,, one system is as good as another as long as none of us ever has to pay off the debt we ring-up. There is a debt that accumulates. Just at $25.00 a day at the end of the first year, you would be writing checks in the amount of $6,200.00 a day, going up $25.00 a day from there. Creating all this credit for ourselves, and purchasing the good things of life for the money, and not working, we have been taking $25.00 a day in goods and services out of the market. By not working, we haven’t been putting anything into the market, we have been creating a lot of imaginary demand, without creating any supply. And that, we know, is creating an imbalance, and that imbalance will cause a “falling dollar parity”. In creating a little credit for ourselves, we have created inflation and its effect upon our economy is to embezzle a little wealth from each of a great many others.

Well, right there is the whole thing in a capsule. If we had first produced, sold in the market place, and then put our wealth in the bank before we used it to buy other products, the check we wrote would have been an order to transfer our wealth on deposit in our account to the account of the one who cashed our check, and there would have been supply that can also be real demand. By creating an imaginary demand (credit-money) without producing any goods, we have influenced our free market operations, and created an imbalance which will have to be absorbed by the market. The extra imaginary demand which is not in itself supply, will still be out there claiming the products of others while not being products themselves. Inflation is this imaginary demand (that is not supply), the bonds of the Treasury, in advance of the supply to back them up, issued as imaginary demand, or the money created by the bankers for which there will never be any supply.

The production of all the workers in industry which is demand or supply in itself will now be diluted by the addition of this imaginary demand which is not supply, like adding water to wine. The more imaginary demand (water) added to the demand-supply media (wine), the “weaker” the media become, and the “weaker” they become the lower in value; and the lower in value, the more it takes to buy something with them. This condition is called “rising prices” in error, it is the ‘falling dollar parity” (inflationary effect).

As soon as any medium is allowed to be used in the market place that is not in itself supply that is real demand, there is the possibility of counterfeiting and wrecking the market “price level” (falling dollar parity). Whether it is ten per cent counterfeit or ninety per cent counterfeit, the wrecking begins with the first bit. The degree determines the time till collapse, and since in Just seven years (1964-1971) our last line of defense, the silver coin, has gone from 10% counterfeit to 97%counterfeit, the time between now and the collapse is reducing at a rapid rate.

Let us go back to our little experiment; at the end of the first year you were writing checks amounting to $6,200.00 a day. We’ll say that approximately $400.00 was about the most you could cash at a store, and almost any store will cash a $50.00 check, so say a good round average would be $200.00 that you could reasonably expect a supermarket to accept and cash for you. With 2 $6,200.00 a day creation, you would have to reach 31 markets in a day, and every eight days you would have to add another one to your list. The list would have to keep expanding because your over-all debt would be expanding, and since you have been using the money for the good life as you created it, it is gone and cannot be used to pay off this debt. In fact, once started, it cannot be stopped, and, continued onward, it leads to another market every eight days. 62 checks, and markets in the second year, 93 checks, cashings at markets, and deposits a day. How wide an area would you have to be able to cover in a day cashing checks? Unless you carried the cash to the bank from each check separately, You would be going around with $18,000.00 a day in cash just to get your $2500. How long would it be before the $25.00 a day would not pay the expenses of making out 93 checks a day, taking them to 93 supermarkets for cashing? Can we agree now that this cannot lead anywhere except to utter financial collapse of your economy? Your economy in the example was based on credit instead of already produced wealth. It was based on money Instead of wealth savings from your employment or business. Any economy so managed as to be dependent on credit expansion is doomed also; it cannot escape. But, like our little experiment, who knows when-they will realize it, and give in to natural law. Some people would give up at 31 supermarkets. a day-others at 62 supermarkets a day, and, I suppose, some would keep trying, and never see the light until they themselves collapsed from exhaustion.

Wealth =Supply or Demand =Barter or Medium of Exchange by natural law.

Wealth ………………………………………………………………………………………………………………………………………………………………Partial list

Goats. . . . . . . . . Cowry Shells . . . . . . . . Knives . . . . . . . .. Corn . . . . . . . . . . . . .. ..Bronze

Horses . . . . . . . .Tortoise Shells . . . . . . . Hoes. . . . . . . . . . .Rice. . . . . . . . . . . . . . . Nickel

Sheep . . . .. . . . . Whale Teeth. . . …. . . . . Axes. . . . . . . . . .. Tea. . . . . . . . .. . . . . . . .Paper

Pigs. . . . . …… . . Porpoise Teeth . . .. . . . .Pots . . . . . . . . . …Salt . . . . . . . …. . . . . . . .Copper

Cattle. . . . . . . …. Boar Tusks. . . . . . ….. . Boats. . . . . . . .. . . Wine . . . . . . . .. . . . . . . .Silver

Fish . . . . . . . …….Ivory. . . . . . . .. . . . . . . Stones . . . . . . . … .Beer. . . . . . . .. .. . . . . . . Gold

Leather. . . . . . . .. Wool . . . . . . . .. . . . . .. .Clay. . . . . . . .. . . . Iron. . . . . . . .. . …. . . . . . Lead

Tobacco. . . . . . . Wampum. . . . . . . . . . .. .Pitch .. . . . .. . . . .. .Brass. .. . . . . . . … . . . . . Aluminum

Imaginary Demand = Mediums of Exchange= Man’s Law.

Money Terminology . . . . . . . .. . . . . . . .. . . . . . . .. . . . . . . .. . . . . . . .. . . . . . . .Partial List

Government Debt . . . . . Banker’s Debt . . . . . . . .Corporate Debt . . . . . . . .Private Debt

Bonds . . . . . . . .. . . . . . .Bonds. . . . . . .. . . . . . . . Bonds . . . . . . . .. . . . . . . .Notes

Treasury Bills. . . . . . . . Notes. . . . . . .. . . . . . . . Notes

Treasury Notes . . . . . . . Certificates . …… . . . . . .Certificates

Paper Tokens. . . . . . . . Dollars
Metal Tokens. . . . . . . . Marks
. . . . . . . .. . . . . . . .. . . . Yen
. . . . . . . .. . . . . . . .. . . . Francs

All dollars are created to represent debt-expropriate wealth. Tangible representations of money are paper and metal tokens, bills, bonds, notes, etc. Money is imaginary demand, is credit and all forms of potential credit for which tangible representations of money (tokens) may be created. Tokens representing imaginary “dollars” are made mediums of exchange by government edicts (legal tender laws).

All the wealth items are representations of labor expended in production, collection, extraction, etc. They are, or are not, mediums of exchange by free consent of the acceptor. If, any item were suddenly found in great quantity, it would cause lowering of exchange value (parity) in relation to other commodities, a natural law of competitive production parities. In a free market, exchange values of wealth or tokens are subject to the natural law of competitive production parities. If man’s law tries to violate the natural law of competitive bidding which determines the competitive production parities, an underground free market rapidly develops, which government immediately labels a “black market.”

Wealth items (commodities) as exchange mediums are generally bulky and many are subject to spoilage. Gold and silver coins have evolved from a free market as wealth commodities having durability, divisibility, and being easily transportable.

They form a relatively stable medium of exchange and have enjoyed that frame of reference through thousands of years.

If gold coins were suddenly to rain down from the heavens, it would cause them to have a lower parity (exchange value) and it would cause “higher prices” (failing gold coin parity) (natural law of competitive bidding). But in thousands of years there hasn’t been one case reported.

Monetized debt (money) as a medium of exchange is created by authority as a means of perpetuating its power. Authoritarian desire for power will never cease, and therefore the attempts at creation of money will never cease. Government in a free market economy is limited in its spending by the necessity to collect taxes from the public, Government able to monazite its debt (create money indirectly) will never cease to accelerate the process. Once begun, inflation feeds itself and accumulates at an ever increasing rate, until panic runaway “failing dollar parity” collapses the economy, and in thousands of years there have been many cases reported.

Gold and silver coins as wealth commodity mediums of exchange are relatively stable, and require only slight adjustment in a free market by means of competitive bidding for variations in the forces on parities, of time, location, and circumstances.

Money as a medium of exchange is inflationary from the moment of creation, and requires continual adjustment as the money volume is expanded. Money creation rate always increases rapidly and steadily until a state of hyperinflation (dollar glut) (runaway falling dollar parity) is reached; the inevitable result of which is financial collapse.

Natural Laws cannot be violated by man or government!

For 150 years America had a fairly stable currency parity while people had “free coinage” (gold and silver coins) (specie redemption) and fiat was held to a minimum,

In the past 58 years since the passage of the Federal Reserve Act, we have “progressed” from I billion dollars of imaginary debt to 2,000 billion dollars of imaginary debt,

Financial collapse is due at any time now!

Webster: Medium of exchange = money.

3. Money = wealth reckoned in terms of money.

4. Money = any form or denomination of coin or paper lawfully current as money.

5. Money = Anything customarily used as a medium of exchange and a measure of value, as sheep, wampum, gold dust, etc.

6. Money = Written or stamped promises or certificates, which pass current as a means of payment; paper money.

Webster :

1. Payment = act of paying.

2. Payment = that which is paid.

3. Payment = punishment; chastisement.


When wealth is exchanged for wealth – No promise is involved,

When wealth is exchanged for money – An imagined promise is involved.

Money cannot be wealth (3) and a promise (6) at the same time.

When wealth is received for wealth Payment has been made.

When money is received for wealth Payment is promised (we think).

Money is an imagined promise of payment in wealth, will be made only when money Is

redeemable as a measure of gold dust, etc. (5).

Money passes as payment only when it has written or stamped promise (6) and then it is a

certificate “payable to bearer” and no longer “money.” Money is not wealth! Money can only be a psychological medium of exchange (imaginary demand). Wealth is not money! Wealth can be barter or a medium of exchange (real demand). Exchanges of wealth for money are incomplete and not final.

Money is an imagined promise held for future exchange for wealth and is therefore a

medium of exchange (imaginary demand).

Exchanges of wealth for wealth are complete and final. Therefore wealth accepted in lieu of wealth-form desired is a medium of exchange.

Wealth used as a medium of exchange is “real demand.”

If the wealth-form received is the wealth-form desired, the transaction was bartering.

If the wealth-form received was not the wealth-form desired but will be exchanged later for

the wealth-form desired, then the wealth received was accepted as a medium of exchange.

Wealth can be barter or a medium of exchange!

Money can only be used as a medium of exchange; in imagination!

A paper “bill” token represents a record of imaginary debt. It is non-redeemable and is no promise of any kind. Its wealth value is practically nil, it has no ability to satisfy human desires directly. It has exchange value only by fraud. It is not a commodity and used in exchange it is subconscious robbery (embezzlement).

A silver “dollar” coin weighs 420 grains .900 fine silver. It is wealth. It has ability to satisfy human desires. It is man made and has exchange value. It is a commodity and used in exchange it is real demand,

Exchanges made with silver or gold coins are always final exchanges, because they are exchanges of commodities for commodities. Wealth is given up, and wealth is received, the exchange is complete and finally settled, with the initial wealth exchange.

If the gold or silver coin received is kept intact as a coin, and is used in exchange to ac. quire other goods later, then the coin was a medium of exchange. Precious metal (gold and silver) coins are wealth and can be mediums of exchange.

Exchanges made with currency redeemable in wealth are exchanges using currency as a medium of exchange. A wealth for currency exchange cannot be final, because to get the wealth, for the wealth given up’, would require presenting the currency for redemption, (a second exchange), Using the currency to acquire other commodities, would also require this second exchange.

With the currency that is not wealth itself, the transaction cannot be barter, and the currency can only be a medium of exchange.

Tokens as mediums of exchange cannot be barter!

Gold and silver coins are wealth – can be mediums of exchange or barter. (Wealth in wealth “form” desired, if the coins were desired for saving or consuming as supply.)

Money is a medium of exchange – always (Webster agrees). Wealth is a medium of exchange – only when used as such. Wealth as a medium of exchange is real demand.

Money as a medium of exchange is imaginary demand. Wealth is not money! Money is not wealth! Money is “seigniorage”: The difference between the worth value of the wealth in a coin,

and its value in terms of “money.”

When “prices” rise or fall, we are accustomed to paying more or less “money.

If “money” is “wealth” expressed in terms of “money” (Webster) then: Prices rising or

falling demand exchange in higher and lower amounts of “wealth” per se.

If the terminology of “money” were omitted, we would then realize that nothing ever has a fixed price in relation to any other thing!

It is the terminology of money: Dollar – Franc – Pound – Mark – Rand – Lira – Guilder are really “non entities,” and exist to facilitate debasement of wealth in its most convenient .1 medium-of-exchange” form: coins.

If fractional weight coins of silver were the common units of -exchange in the market place, then: All “prices” would fluctuate in amounts of silver required to effect an exchange.

Absolutely – Positively no debasement could occur because “prices” would be directly related to amounts of silver.

All exchanges being effected would be final – as wealth was received for wealth.

But when names are used, and -prices” of goods are listed in “dollars”, the opportunity to debase is positive!

When a “dollar” is 1.0 ounce of silver in coin form with its weight and fineness stamped on it, it is a 1.0 ounce silver unit of exchange, and as such it is “wealth.”

When a “dollar” is 0.9 ounce of silver, and 0.1 ounce copper and the law says it must exchange as if it were 1.0 ounce of pure silver, then it is FRAUD.

Anyone accepting a coin of 90% wealth and 10% “money content” is being embezzled of 10% of his due payment.

Anyone accepting paper “dollars” (content $0.006 wealth, $0.994 money) is being robbed of 99% of his due payment.

If “prices” were marked in “weights of silver” and unredeemable paper tokens were received, the fraud would be evident!

When “prices” are marked in -dollars- and “dollars” are received, any promise would be hidden, and could later be repudiated.

Money is not a substance – it does not exist in reality, it is only a figment of our imagination.

Money is an imagined “promise” that “it” will be accepted later in exchange for a substance.

Money “exists” only in the mind of man – it is created out of thin air, and recorded in books of account.

The books of account are used to facilitate the image of “wealth” for :money” as all respective identity is lost when accounts are kept in terms of “dollars.”

When a creator creates “dollars” they are his.

If a government mints a “dollar” token at a cost of 31C it accepts the 97% difference as a profit.

When the creator uses the $ 1.00 token to make a purchase, the vendor will be cheated out of $ .97 of his due payment – the creator will get $1.00 value for 31; cost.

For as long as that token will be used as an exchange medium, it will contain 3C of worth 970 of imaginary demand (inflation) and it can never be redeemed except by return to the creator, by the last holder, for full “face-value” in wealth, but that would be redeemability, and redeemability has been repudiated,

So “money” (imaginary demand) once loaned into circulation by its creator becomes “irredeemable imaginary demand”: inflation.

Bank Cashiers Check =Bookkeeping Entry Tracing Debt.

Certificate of Deposit = Bookkeeping Entry Tracing Debt.

Savings Account Passbook = Bookkeeping Entry Tracing Debt

Payroll Check = Bookkeeping Entry Tracing Debt.

Personal Check = Bookkeeping Entry Tracing Debt.

Money Order = Bookkeeping Entry Tracing Debt.

All the above and many more varieties are only paper and ink.

A “dollar bill” or any paper token is only evidence of a record of debt, created at low cost. 40,000 pounds of paper, 2112 tons of ink can be transformed into 50,000,000 Federal Reserve Notes; if each were a $100.00 bill, that is $5 billion. Roughly it costs only .6Cents (6 /100ths of 1 cent) to produce each $ 100.00 paper token. Unless it is redeemable in wealth, it hasn’t any “value” greater than its cost to produce. Government forces the acceptance of these notes in exchange for “citizens wealth,” at legal tender face values thousands of times greater than the wealth they represent. Face value control in vested in government.

You can print paper tokens to represent money.

Gold and silver coins are obtained through great human exertion, hence their high value, and when freely exchange, their wealth value (parity) in relation to other commodities is determined by competitive bidding. You cannot print wealth.

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