Feeds:
Posts
Comments

Posts Tagged ‘Mountain Hours’

Stan MonteithHere is a summary I prepared of my interview with Dr. Stan Monteith on Radio Liberty, December 3, 2013.

2m – Canada now more economically free than the United States
3m – most recent to free enterprise in U.S. was for nearly 30 years after the end of the privately owned Second (central) Bank of the United States
3m – no World War prior to privately owned Federal Reserve central bank
3m – James Madison was against the power of Congress to charter a central bank prior to being President, once President, he chartered the Second Bank of the United States
4m – 4 revolutionary changes in 1913 – bogus direct personal income tax, direct election of senators, Federal Reserve and
5m – Rise of Petrodollar since 1947
6m – Canada more economically free because of its relatively increasing adherence to U.S. founding constitutional principles, and a deviation away from Canadian founding principles
6m – government privilege of banks creating credit tied to national currency
7m – Dick Cheney against bailout of big car manufacturers, but no problem with bailing out the big bankers
8m – reform of decentralization, decoupling of bank-issued credit to U.S. dollar
8m – gold standard was setting U.S. dollar relative to an ounce of gold
16m – U.S. has second-worst representation in its House of Representatives relative to any country in the world
16m – I identify Canada as more economically free and decentralized than U.S. in past few years due to better national representation and influence of majority French-speaking province of Quebec pushing for more decentralization to protect its powers
18m – most money in Canada is debt, just like U.S.
18m – Canada’s central bank is publicly owned, but still tied into privately owned Bank for International Settlements
18m – BIS regulation that you can’t borrow directly from your own central bank
19m – interest income from Federal Reserve goes back to the Treasury — over $70 billion recently, but most interest stays with the privately owned member banks
20m – usury originally defined as any amount of interest
20m – not possible for everyone to exponentially increase their productivity relative to compounding debt
27m – Tom J. “UsuryFree” Kennedy calls in, asking about usury-free community currencies
28m – Ithaca Hours, Mountain Hours
28m – Wayne Walton founded usury-free Mountain Hours
29m – local businesses will accept a portion of payment in MHs, or 100%
29m – an associate of the founder, Joby Weeks, lost money with his involvement with Ron Paul Liberty Dollars, and found that paper-based MHs circulated better than the gold coins, because gold was more valuable to hold on to, as a store of wealth, rather than function as a medium of exchange, which is the primary function of money
31m – value of local currencies determined in the marketplace, and they function to promote monetary reform
33m – community currencies are backed by the honesty and integrity of each entrepreneur, and the quality of goods and services they offer
34m – U.S. Constitution does not allow the federal government to “back up” the money supply with precious metals, nor does it allow it to declare any currency legal tender for private debts or payment of goods and services
42m – agree with caller who said the primary reason for giving Congress the power to coin money was to facilitate commerce that was running into problems with states minting and printing their own coins and notes, respectively
42m – Gresham’s Law, whereby bad currencies drive out good currencies, in the presence of legal tender laws – e.g. of Federal Reserve Notes and credit driving out gold, because gold is more valuable to hold on to
43m – difficulty of determining value of precious metal coins, because of how they were stamped by different states
43m – Congress’ power to coin money isn’t restricted to only gold and silver — copper coins were also coined — but no power to make them legal tender for private debts
44m – if States decide to make legal tender laws, they are then required to make gold and silver coin a tender in payment of debts (and not goods and services)
44m – caller supported local currencies for sequestering value locally, but need for currencies to facilitate international trade
47m – biggest problem now with monetary system is usury
47m – can’t have gold backed currency with usury, or eventually the private bankers will own all the money supply, or assets secured by their debts
47m – agree with Milton Friedman who told Bill Still that if you don’t end fractional reserve banking, you’ve done nothing to reform the system
48m – fractional reserve banking a ticking time bomb, and agree with those who say it’s fraud, because it’s your deposit functioning as a lottery ticket
48m – Islamic Banking charges fees instead of usury

For my previous interviews on Radio Liberty, see here.

Read Full Post »

Red Ice RadioHere is the summary I prepared of the first hour of my November 4, 2013 interview on Red Ice Radio.

1m – Credit default swaps
3m – The Federal Reserve as the world’s bank
5m – Big economic busts are a direct consequence of the debt-money system with compound interest
5m – Individual interest-based contracts valid, but not in the aggregate
6m – The little-discussed depression of 1920
7m – The multiple and conflicting definitions of money
8m – The primary function of money is to serve as a medium of exchange
9m – Admitted by Austrian School economists that gold has no intrinsic value
9m – Why the Federal Reserve Notes are not fiat money, since they are issued by privately owned regional banks
10m – Misdefinition of fiat money to mean not money not backed up by precious metals
11m – Original definition of usury to mean any amount of interest charged on loans, and not some arbitrary amount set by law
12m – Banks get immense government privileges — such as being able to issue credit tied to the national currency
14m – The Federal Reserve also has privilege to create the world’s reserve currency
15m – The Fed’s banking elite origins
16m – Canada didn’t have a central bank until 1935, and it had different origins than the Fed, with Western farming interests pushing for it
16m – Shouldn’t be any central bank — only a national treasury
18m – Institutions and the people in them both matter a lot, but the structuring of institutions is key, since any bad institution can bring out the worst in people
19m – Form of government that allows for wealth redistribution, such as in the U.S., depends on a moral people
20m – 2010 article about non-U.S. banks that got bailed out by the supposed national bank of the United States, the Fed
21m – Change from mark-to-market to mark-to-model for valuing bank assets, to prop up bogus bookkeeping
22m – Derivatives formulas didn’t take into account super cycles
22m – One-time full audit of the Federal Reserve
23m – >70% of consumer deposits held by only 6 biggest banks in U.S.
23m – Should the bankrupt banks have been allowed to fail?
24m – Paul Krugman’s call for nationalizing the banks
25m – My proposed response to the 2008 crisis
26m – Problems with a centralized system
27m – A crisis brings lots of opportunity for change
28m – The Volcker Rule still not implemented
29m – Ithaca Hours local currency and other local currencies
30m – State banking initiatives led by Ellen Brown
30m – U.S. Congress has the second worst representation of any country in the world, with China having better representation
31m – California Governor Jerry Brown vetoed a bill just to even study the implementation of a state bank
31m – Real solutions start locally
32m – Some currencies served different purposes
32m – Gold is deflationary
33m – Gold dropped from $850 USD an ounce in 1980 to below $250 USD by 2001
33m – Gold went from $20.67 USD an ounce in 1933 to $35 an ounce less than a year later, just by law
34m – Don’t know how much gold is still in Fort Knox, or is there but has been pledged for debts
34m – Gold is a scarce resource, and the properties of the currency determine its usage
34m – Gold in IMF vaults doing no good for the people right now, same with Fed’s gold
35m – India bought a lot of gold after 2008, to bolster their gold reserves
35m – Bank of Venice, which operated for hundreds of years, and its paper documents traded at a 20-40% premium over gold
37m – What matters is not what “backs up” the money, but the quantity of money in circulation
38m – False pretences of TARP bailout in 2008, said to be for buying up subprime mortgages
40m – Paper money only accounts for 3-5% of the money supply in U.S.
40m – Bond vigilantes a good phenomenon
43m – Jim Cramer laughably saying there was no problem with Bear Stearns, not long before it collapsed and was bought out
45m – Many Congressional representatives have no financial background
46m – Media concentration problems
47m – Erroneous Supreme Court decision that money is equal to free speech
51m – Capitalism vs. free enterprise
51m – My November 16 Toronto keynote address at the 9th annual UsuryFree week

Read Full Post »

Jason Erb, host of Exposing Faux Capitalism, airing every Sunday from 1-3 PM Eastern on Oracle Broadcasting, will be on mtnHours Revolution! with Wayne Walton, August 21, 2012, at 4 PM Eastern.

Previously, I wrote about Wayne in my article, Join the Mountain Hours local currency revolution.

Read Full Post »

Wayne WaltonWayne Walton, founder of the local, interest-free currency, Mountain Hours, is hosting a weekly program on Republic Broadcasting from 3-5 PM Eastern.

For my articles on Wayne Walton and Mountain Hours, see:

1) A Money Power trap: saying that private money creation is the problem

2) Our current monetary system: “It’s like a dog begging its flea for some of its own blood back

3) Wayne Walton, founder of the interest-free local currency, Mountain Hours, now a regular guest on Crash! Are You Ready?

Read Full Post »

So said Wayne Walton, founder of the Mountain Hours local interest-free currency and regular Wednesday guest in the last segment of the March 21, 2012 episode of Crash! Are You Ready?

Read Full Post »

Wayne Walton, founder of the interest-free local currency, Mountain Hours, made his weekly Wednesday debut appearance on Crash! Are You Ready?, on March 7, 2012.

He based his currency on Ithaca Hours, which is an interest-free local currency circulating in Ithaca, New York since 1991.

He mentioned that he was inspired by George Whitehurst-Berry’s show, Crash! Are You Ready?, after being a former goldbug.

Not only are these interest-free local currencies sound currencies, but they are also constitutional currencies. For more on why, see my article, Congress’ exclusive power to coin money doesn’t prevent private individuals from coining currency.

Read Full Post »

This is the regular guest lineup of Crash! Are You Ready?, as of March 2012:

Monday – Linda Runyon – wild foods expert

Wednesday – Wayne Walton – founder of the interest-free local currency, Mountain Hours

Thursday – Frances Newton – financial forecaster

Friday – David John Oates – reverse speech

Read Full Post »

hatrickpenry

AN ALTERNATIVE TO THE ALTERNATIVE MEDIA

Recovering Austrians

Supporting recovering Austrian Economics addicts and their families

Real Currencies

Supporting People and the Commonwealth and resisting the Money Power by defeating Usury