By Johnny Liberty

Two Dialectics

Since the Russian Bolshevik Revolution of 1917, an artificially contrived dialectic has dominated the minds of economists and politicians alike – Capitalism vs. Socialism/Communism. 

Nowadays, we are still reeling under the presumptive remnants of this false dialectic as two philosophical schools of economics – the Keynesian and Monetarist – still dominate world finances. 

The Keynesian school dictates the functions of the International Monetary Fund (IMF) and World Bank (WB) while Monetarism rules the Bank of International Settlements – the international Central Bank of the Group of Ten.

The Keynesian school advocates government involvement in regulating the economy, whereas, the Monetarist school recommends great restraint in expanding the money supply, since a reliable currency is the primary factor for maintaining a stable economy.

Article 1, Section 8, Clause 5 of the U.S. Constitution says, “Congress shall have the power to coin money, and to regulate the value thereof, and also, of foreign coin.” 

Liberals, Progressives, Socialists, Fascists, and Conservatives have completely missed the point, according to Mark Evans, writing in Flatland Magazine. The issue that should have been getting political attention is “the struggle between the sovereign right of the people collectively, to create and control their own credit, and the paid political hirelings who have always served the vested interests of the banks and plutocracy.”

Missing Power to Monetize Paper

Mr. Evans asserts that this essential constitutional clause, Article 1, Section 8, Clause 5, was never fully put into effect. In hindsight, Thomas Jefferson had reservations about the matter.  Jefferson wrote that his great regret about the U.S. Constitution was that it did not include a clause stating specifically that the U.S. Congress had the power to monetize paper. 

Not monetizing paper was a political advantage the American colonists enjoyed for some time. Benjamin Franklin wrote that the American Revolution was fought in part because the British Crown suspended the rights of the colonies to print colonial scrip (their own paper money).

Mr. Evans says the much maligned and misunderstood U.S. Congressman Charles Augustus Lindbergh, Sr., (1859-1924), who based his radical economic theory on the U.S. Constitution, had broken away from standard economic rhetoric that was shaping the world in the early 1900s. 

Mr. Evans believed that U.S. Congressman Lindbergh was probably approaching a simultaneously democratic and constitutional solution to the money problem. This is evidenced by the campaign to suppress his work, according to Evans.

Charles Lindbergh wrote, “The greatest of all the present social burdens is the excessive interest, dividends and rent charges levied on us by those who control centralized capital…the fruits resulting from the people’s toil…accumulated by the wealth absorbers who, by the current rules of government, possess the privilege of taxing all the people.”

References:

1. Wikipedia | Established in 1962, when the governments of eight International Monetary Fund (IMF) members, Belgium, Canada, France, Italy, Japan, the Netherlands, the United Kingdom, and the United States, and the central banks of two others, Germany and Sweden, all agreed to make funds available to the IMF. In 1964, funds were used by the IMF to rescue the pound sterling. The G-10 grew in 1964 by the association of the eleventh member, Switzerland, then not a member of the IMF, but the name of the group remained the same.
2. Flatland Magazine (out of print) | Thanks to Mark Evans for his research and wisdom in these matters, especially his research into the works of U.S. Congressman Charles Lindbergh who had a serious handle on sustainable economics eighty years ago.
3. Brainy Quotes | Charles Lindberg Sr.

Source: Sovereign’s Handbook by Johnny Liberty (30th Anniversary Edition), Volume 2 of 3, p.38 – 39

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