tag:blogger.com,1999:blog-4169740113013066976.post925219118939667486..comments2024-02-10T12:12:06.028+00:00Comments on The Real Blog: A new kind of moneyDavid Boylehttp://www.blogger.com/profile/11410159311875228620noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4169740113013066976.post-36347546218053380852009-01-21T03:07:00.000+00:002009-01-21T03:07:00.000+00:00On February 17, 1933, Senator John H. Bankhead of ...On February 17, 1933, Senator John H. Bankhead of Alabama introduced a bill into Congress for the purpose of authorizing the Federal Government to issue a dated Stamp Scrip that shall operate as legal tender during the limited period of the issue. The Bill for the US Government to issue $US1 trillion of self-liquidating negative interest money never passed. It would have created serious competition for the privately owned Federal Reserve System that makes its profit from money creation. Two weeks later on March 3rd the New Deal was announced that stopped the passage of the Bill and the use of self-liquidating ecological forms of money then being used in thousands of US communities. Senator Bankhead's plan is that the emergency issue be injected into the national circulation, partly through the regular expenditures of the Federal Government, partly through the expenditures of the state governments among which certain shares of the scrip issue would be apportioned, and partly through localities among which the states would further sub-divide the issue. <BR/>Mark<BR/><A HREF="http://www.mainstreetcash.org" REL="nofollow">MainStreetCash</A>Mark Herpelhttps://www.blogger.com/profile/16570867131790072001noreply@blogger.com