The DEBT COMPLEX
The DEBT COMPLEX from MTKander
Everything around you, the items humans produce and exchange with one another, is currently priced in, what I like to think of as, debt currency digits. This situation did not come about overnight but a slow methodical progression to dominance over the hearts and minds of everyone.
Let us take a second to review the origin and creation of these debt currency digits…
Storing energy for consumption at a later date has always been a priority for humans. This stored energy enabled man to survive and thrive in the ecosystems in which we encountered. Various forms of stored energy existed, but the need to transfer and exchange this stored energy created the term “money”.
Naming, calling or defining something as “money” does not make that item a store of energy. The Chinese were the first to experience the effects of using definitions to dictate human desires when in 1024 AD the regime at that time created fiat currency, by declaring, from nothing, that the region will use pieces of paper, limitless in supply, to transact the various forms of stored energy. Of course this situation did not benefit the individuals acquiring this fiat but certainly supported those who were able to create it from nothing and trade those units for goods and services.
Nearly 1,100 years later we are able to research and review the impacts and effects of this “let it be done” (fiat) money. Ralph T. Foster recently authored “Fiat Paper Money – History and Evolution of Our Currency” the first and most complete authoritative book on the background and evolution of fiat currency notes throughout history.
The implementation, use and failures of fiat currency over time did not stop those who desired the power of creating something from nothing in order to disproportionately acquire more energy for themselves.
The fait accompli was accomplished by mischievous individuals when 97% through the year 1913, President of the UNITED STATES OF AMERICA signed into law the Federal Reserve Act. Within days of its signing, the first issuance of debt currency created (what we call money today) the federal reserve note (frn).