Mr. Farrar. I have copied the source for the Modern Money Mechanics, now out of print, which you printed. I intend to get it if I can and read it. Hope I can make sense of it. It was difficult for my old eyes to read as I copied it out of your comment.
Mr. Farrar. I have copied the source for the Modern Money Mechanics, now out of print, which you printed. I intend to get it if I can and read it. Hope I can make sense of it. It was difficult for my old eyes to read as I copied it out of your comment.
It is on wikipedia commons and you can download it, free. It is one hell of a dry read, and you need some background in money and finance. One thing you won't see in it is, that money created out of debt, "vanishes" as the debt is paid down and paid off, however if one reads carefully, one realizes that.
The pamphlet was a required reading in my first finance course, when I mentioned that in class, an Army Captain also in the class, challenged me. I looked at the professor and he nodded and told the Captain I was correct.
Money created out of debts (public, corporate and private) go out of existence when debts are paid down and paid off, and also when one files bankruptcy .
Have you never asked why is it that financial institutions can buy and sell mortgages, car, airplane and boat loans?
The answer is simple, so long as they recover their original reserve (the 10% or so they have to have to loan money) and received interest payments, they have recovered their original investment plus interest, the rest is simply wiped off the books, double entry accounting.
The institution the buys the loan, soon recovers their original investment,plus interest, and the game goes on and on, they can buy and sell a loan or a mortgage over and over, and not lose a penny but make a profit, and if the borrower defaults, then they recover the property which was the basis of the loan, and make a huge profit selling it and starting all over.
Of course financial institutions need the law on their side, they have the sheriff who can seize property if the holder doesn't pay taxes, payments on the mortgage or loan,or obey the laws.
ICYMI, now comes my exposition. You and I don't actually own property, we simple hold title in Fee Simple.
Fee feudal) Simple is a device that originated with Edward I. his barons rose up against him, because the King (the sovereign) held allodial rights to all of England. Allodial rights are the right of conquest. And the barons were sore pissed because the King, being sovereign with allodial rights) all too frequently disposed his barons of their titles and fiefdoms, to bestow them on a court favorite.
The answer he came up with is to grant them title in Fee Simple, meaning the land and the feudal title, Duke and Baron) were his and his heirs in perpetuity, so long as he paid his taxes, provided for defense of the realm with weapons, armor and men at arms, pledged fealty (another word with a feudal stem) , and obeyed the law of the land, which was the King's law.
Failure to do so, resulted in eviction from he land and title.
And the word sheriff is a derivative of shire reeve (reave) or reave of the shire, whose job was to collect taxes, and evict those that didn't obey the King's laws.
And that is why it is the sheriff is used to foreclose and evict delinquents and law breakers.
Not all counties and states exercise this authority, but enough do, and that is where sheriff's obtain the authority to confiscate money and titled property, of people accused of breaking the law of the Sovereign,which apparently are the several states, as delegate to the counties the responsibility of enforcing the allodial law.
The Constitutional sheriffs and Peace Officers are a joke, they aren't empowered to enforce or abide by the Constitution.
The oath of office for sheriff's (shire reeve) varies state to state, county to county, but sometimes goes like this: "On my honor, I will never Betray my integrity, my character Or the public trust. I will always have the courage to hold myself and others accountable for our actions. I will always maintain the highest ethical standards and uphold the values of my community, and the agency I serve."
And like this: "“I, (employee name), do solemnly swear (or affirm) that I will support and defend the Constitution of the United States and the Constitution of the State of ... "
note the "and the Constitution. of the State of........" which means that the constitution of the state supersedes the Constitution of the United States.
FYI the Constitution ratified in 1790, as amended, actually acknowledges the sovereignty of the several states., that is why it takes a Constitutional amendment to grant rights to everyone.
Individual states can elect or not elect to pass laws, acknowledging rights, regulate industries, limit or regulate such things as guns, but if they go beyond the Constitution as defined by six radical theocratic fascists, the laws will be nullfiied.
The federal government was not able to outlaw automatic fire weapons, but found a work around by requiring a permit, an exhausive application process, and then paying a heavy tax, to purchase and own an automatic fire weapon.
They could do the same for semi automatic, rapid fire weapons and large magazines.
Self loading, semi automatics, like those used for hunting, and shotguns have or had, magazines with limited rounds, I had a 30.05 with a magazine of four rounds, most semi automatic shotguns also have a four or five round limit.
Mr. Farrar. I have copied the source for the Modern Money Mechanics, now out of print, which you printed. I intend to get it if I can and read it. Hope I can make sense of it. It was difficult for my old eyes to read as I copied it out of your comment.
It is on wikipedia commons and you can download it, free. It is one hell of a dry read, and you need some background in money and finance. One thing you won't see in it is, that money created out of debt, "vanishes" as the debt is paid down and paid off, however if one reads carefully, one realizes that.
The pamphlet was a required reading in my first finance course, when I mentioned that in class, an Army Captain also in the class, challenged me. I looked at the professor and he nodded and told the Captain I was correct.
Money created out of debts (public, corporate and private) go out of existence when debts are paid down and paid off, and also when one files bankruptcy .
Have you never asked why is it that financial institutions can buy and sell mortgages, car, airplane and boat loans?
The answer is simple, so long as they recover their original reserve (the 10% or so they have to have to loan money) and received interest payments, they have recovered their original investment plus interest, the rest is simply wiped off the books, double entry accounting.
The institution the buys the loan, soon recovers their original investment,plus interest, and the game goes on and on, they can buy and sell a loan or a mortgage over and over, and not lose a penny but make a profit, and if the borrower defaults, then they recover the property which was the basis of the loan, and make a huge profit selling it and starting all over.
Of course financial institutions need the law on their side, they have the sheriff who can seize property if the holder doesn't pay taxes, payments on the mortgage or loan,or obey the laws.
ICYMI, now comes my exposition. You and I don't actually own property, we simple hold title in Fee Simple.
Fee feudal) Simple is a device that originated with Edward I. his barons rose up against him, because the King (the sovereign) held allodial rights to all of England. Allodial rights are the right of conquest. And the barons were sore pissed because the King, being sovereign with allodial rights) all too frequently disposed his barons of their titles and fiefdoms, to bestow them on a court favorite.
The answer he came up with is to grant them title in Fee Simple, meaning the land and the feudal title, Duke and Baron) were his and his heirs in perpetuity, so long as he paid his taxes, provided for defense of the realm with weapons, armor and men at arms, pledged fealty (another word with a feudal stem) , and obeyed the law of the land, which was the King's law.
Failure to do so, resulted in eviction from he land and title.
And the word sheriff is a derivative of shire reeve (reave) or reave of the shire, whose job was to collect taxes, and evict those that didn't obey the King's laws.
And that is why it is the sheriff is used to foreclose and evict delinquents and law breakers.
Not all counties and states exercise this authority, but enough do, and that is where sheriff's obtain the authority to confiscate money and titled property, of people accused of breaking the law of the Sovereign,which apparently are the several states, as delegate to the counties the responsibility of enforcing the allodial law.
The Constitutional sheriffs and Peace Officers are a joke, they aren't empowered to enforce or abide by the Constitution.
The oath of office for sheriff's (shire reeve) varies state to state, county to county, but sometimes goes like this: "On my honor, I will never Betray my integrity, my character Or the public trust. I will always have the courage to hold myself and others accountable for our actions. I will always maintain the highest ethical standards and uphold the values of my community, and the agency I serve."
And like this: "“I, (employee name), do solemnly swear (or affirm) that I will support and defend the Constitution of the United States and the Constitution of the State of ... "
note the "and the Constitution. of the State of........" which means that the constitution of the state supersedes the Constitution of the United States.
FYI the Constitution ratified in 1790, as amended, actually acknowledges the sovereignty of the several states., that is why it takes a Constitutional amendment to grant rights to everyone.
Individual states can elect or not elect to pass laws, acknowledging rights, regulate industries, limit or regulate such things as guns, but if they go beyond the Constitution as defined by six radical theocratic fascists, the laws will be nullfiied.
The federal government was not able to outlaw automatic fire weapons, but found a work around by requiring a permit, an exhausive application process, and then paying a heavy tax, to purchase and own an automatic fire weapon.
They could do the same for semi automatic, rapid fire weapons and large magazines.
Self loading, semi automatics, like those used for hunting, and shotguns have or had, magazines with limited rounds, I had a 30.05 with a magazine of four rounds, most semi automatic shotguns also have a four or five round limit.