SmartPeopleSmartMoney
Start Creating Your Own Money Today!
Start Creating Your Own Money Today!
"How much better to get wisdom than gold, to choose understanding rather than silver!" - Proverbs 16:16
"Better to be lowly in spirit and among the oppressed than to share plunder with the proud." - Proverbs 16:19
When you fully understand the boast made by Amschel and its significance,
you will begin to see the world from a different perspective.
Your Financial Education Has Begun!
Economist Peter Schiff said: "Save, Invest and Produce, As opposed to: Borrow, Spend & Consume."
Taking his advice, becoming financially independent is achievable by following this easy guideline.
How to learn from this website:
Taking his advice, becoming financially independent is achievable by following this easy guideline.
How to learn from this website:
- Start on this page, reading top to bottom, consuming video and external links as published, as you would a book.
- Read the definitions at the external links for a contextual insight into the subject and various meanings of words.
- Consume the message with an objective point of view and consider there are more than two sides to a story.
- Ask questions when confused or lost or if you desire to challenge the validity of a source, theory or controversy.
Some interesting quotes from some influential people regarding money, economics and politics:
"The government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the government and the buying power of consumers. By adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity."
-- Abraham Lincoln
"Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take away from them the power to create money and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money."
-- Josiah Charles Stamp, 1st Baron Stamp, Director Bank of England
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
-- Henry Ford
Recent Historical Relevance of Money's Attributes and 'Lawful Mutation'
Throughout history, money has come in various shapes, sizes and forms. Depending on the era, region and economy, sea shells, beads, grain and wooden sticks have been used as money.
Money, which most work to earn in order to purchase liabilities while few amass and purchase assets, is an idea created by man. It is simply a 'medium of exchange' for goods and / or services.
The following is the Constitutional definition of money conceived and mutually agreed upon to be used in the U.S. of A since the writing of the Constitution.
Article. II. Section. 10. Clause 1:
"No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility." - Source
Looking at the specific line with definitions from Article. II:
The words "make any Thing but gold and silver Coin a Tender in Payment of Debts" describe the characteristics of what the 'money' in circulation is to have. What has occurred in empires past has occurred today with the tolerance of a fiat currency with the risk of greed and mismanagement.
But, the description found on the money we use today says this: "this Note is Legal Tender for all Debts, public and private."
The description / contract agreement has said many things over the years, but now instead of 'money' being something tangible ( like gold or silver coin ), it has simply become a 'note,' or 'I.O.U.' or debt instrument.... a mere piece of paper 'signifying' something of value, but carrying only its implied value equivalent in what is exchanged for it..
Legal Tender, Constitutionally, is supposed to be in the form of gold or silver coin or something of nominal and stable value.
Can you identify the Constitutional Legal Tender and what is counterfeit ( or not Constitutionally lawful money ) below?
Click on the images for a closer look and to read what they say ( the paper currencies ).
Only the coins are Constitutional Legal Tender ( and a valued / value-held form of money ), while the gold and silver 'certificates' are similar to a receipt representing a redeemable item / thing / asset in the form of gold or silver, while the modern dollar bill we pass amongst each other today is neither constitutionally lawful nor redeemable in any form other that the paper representation of a redeemable item / thing / asset ( what is called a fiat / facsimile / facade / fugazi ).
Considering that money / Legal Tender is supposed to be an actual 'asset' ( according to the Constitution ) and not a debt instrument, / note ( as stated on today's money ), let's see what we are working with today. To see the difference, here is a simplified Financial Statement:
Since a debt instrument / note is a "written promise to pay" by definition, that makes it a liability, which is another word for debt. You can clearly see which side of a financial statement that resides on.
If you were to be paid in gold or silver coin or in a currency redeemable in gold or silver, you would be receiving payment in the form of an asset; or at least an instrument easily redeemable into an asset ( gold or silver ); you'll be receiving payment for your goods / services / etc., on the left side of the Statement, the side identifying things of value ( holding value ).
Since you are today being paid with a debt instrument / notes, you are receiving a note / debt instrument / liability; you are, in fact and by definition, receiving a liability in exchange for your work / service / etc. You ( and everyone else ) are being passed a debt obligation... which you also pass on to whomever you 'pay' to purchase items or make payments to. Another name for today's money is a fiat currency.
Historically speaking, this is why Napoleon mustered the support of the military and beheaded the king of France, because the king began to print money ( fiat ) to fund his purchases and when that money infiltrated the commoner's fixed supply, the money they were holding became worth-less, and every purchasable item and service became more expensive ( the definition of inflation ).
If you were to be paid in gold or silver coin or in a currency redeemable in gold or silver, you would be receiving payment in the form of an asset; or at least an instrument easily redeemable into an asset ( gold or silver ); you'll be receiving payment for your goods / services / etc., on the left side of the Statement, the side identifying things of value ( holding value ).
Since you are today being paid with a debt instrument / notes, you are receiving a note / debt instrument / liability; you are, in fact and by definition, receiving a liability in exchange for your work / service / etc. You ( and everyone else ) are being passed a debt obligation... which you also pass on to whomever you 'pay' to purchase items or make payments to. Another name for today's money is a fiat currency.
Historically speaking, this is why Napoleon mustered the support of the military and beheaded the king of France, because the king began to print money ( fiat ) to fund his purchases and when that money infiltrated the commoner's fixed supply, the money they were holding became worth-less, and every purchasable item and service became more expensive ( the definition of inflation ).
In
this humorous yet sobering video we learn that we don't start at zero
when it comes to debt as money, but in the negative. Paul does an excellent job
explaining the historical beginnings of the idea of money, the
subsequent creation of credit, debt and explains how little is known or
understood by the populous.
This is the first lecture-video of Your Financial Education.
Please watch and pay close attention. It is amusing, yet is full of facts and sobering realities. This is part one of five. This is the easiest way to consume the history of money, how money has migrated from being something tangible and an asset, to something easily printed and manipulated ( inflated ) made worthless... and I think it should be entitled "Debt as Money" rather than "Money as Debt." Sound and images begin at 0:12.
Please watch and pay close attention. It is amusing, yet is full of facts and sobering realities. This is part one of five. This is the easiest way to consume the history of money, how money has migrated from being something tangible and an asset, to something easily printed and manipulated ( inflated ) made worthless... and I think it should be entitled "Debt as Money" rather than "Money as Debt." Sound and images begin at 0:12.
The Lord detests differing weights, and dishonest scales do not please Him. -- Proverbs 20:23
After viewing the above video, you'll know why I included the above bible reference.
The informative production found below will give you a peek into the how this system of passing the debt on to others is a system of debt-service, which is actually paying tribute ( by definition ). In the video, you will see the consequence of using / borrowing debt money and how this debt is now the tool used for conquest and enslavement ( today's modern form of colonization and slavery ). The documentary also clearly points the finger at who is perpetuating this method of modern-day slavery ( economic slavery ), but you don't have to take my word for it. Allow this award-winning reporter and documentary film-maker best explain this stark reality.
