Greens for Monetary Reform

MAYDAY for Money

The Power of Money in Influencing the Most Egregious Events in the United States of America

by Rita Jacobs GPMI

A little background about this article. More than 10 years ago I read an article written by a journalist who had observed the trial of a civil wrongful death lawsuit in 1999 brought by the family of Martin Luther King, Jr. against co-conspirators surrounding the death of MLK Jr. I thought it was a very credible story regarding the truth about the assassination of MLK Jr. The King family prevailed in the lawsuit. Since there were no journalists from the mainstream media covering the trial, there was apparently little or no publicity about this trial.

“The Loyd Jowers trial, officially the King family vs. Loyd Jowers and other unknown co-conspirators, was an American wrongful death civil suit brought by the family of Martin Luther King Jr. against Loyd Jowers, following his claims of a conspiracy in the assassination of the civil rights leader in 1968." (Wikipedia, Loyd Jowers trial)

"The decision caused the Department of Justice to reopen the case. In 2000, Attorney General Janet Reno announced that, after looking into the assassination, no evidence of a conspiracy could be found." This was despite the fact that Loyd Jowers had actually confessed in an ABC news interview in 1993 that he was paid $100,000 by a mobster to help organize the assassination. (Wikipedia)

On April 20, 2024 James Corbett re-published on his Rumble platform a 2018 video interview of Dr. William Pepper that he had previously published. Pepper was the attorney for the King family. He had investigated the circumstances of the assassination for more than 40 years, and published books regarding the event in 1995, 2003, and 2016. I was very intrigued with the entire interview, but for purposes of this article, I am limiting my review to one particular event that established in my mind the main reason that the assassination was carried out.

As part of his investigation, Pepper had interviewed a daughter of the late John Downey, whom he described as the only head of a military intelligence group in the Pentagon who was responsible for briefings of President Lyndon Johnson during the Vietnam War. Downy's daughter reiterated that in each briefing of the president Downey asked "Why are we doing this, Mr. President?" After being asked this question so many times, President Johnson slammed his fist on the table, and said: "John, I can’t get out of Vietnam. My friends are making too much money." Downey soon after left his post at the Pentagon and was reassigned to work at the embassy in Canada. He said he could not be an accomplice to the loss of these young American lives.

So, one must wonder. Will the government file regarding the investigation of the assassination of President John F. Kennedy ever be released?
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The James Corbett Report videos are available here: rumble.com/corbettreport

The video as the source of information for this article can be found at william-pepper-on-the-assassination-of-dr.-martin-luther-king The title of the original video was “Truth at Last: The Assassination of Martin Luther King” and was published on the 50th anniversary of his assassination.

...because they control money creation.

Talking All Around the Money

Ignoring the Mechanism of Power

by Howard Switzer GPTN

I skim numerous articles on the economy, environment, poverty, agriculture, and finance. I do so in search of the monetary understanding required to address those issues which seems to be in very short supply despite the information being made more available than ever due to the internet. I don’t always read the articles but will generally copy/clip the article into a document and search for the word 'money'. What I find is that it is rarely mentioned at all and when it is mentioned it is rarely associated with power. Something must be wrong with me; I think I have always known that money and power are two sides of the same coin. As such, control of the creation of money is central in causing, as well as addressing, the world’s problems.

People often use terms such as "wages," "income," "budgets," "costs," and "affordable," which all refer to money, and yet they never mention​ money nor the system from which it comes​. The Green Party of the United State is the only political party in the nation, possibly the world, calling for Monetary Reform which would change power relations shifting power from the private sector to the public sector to address the public interest. Greening the Dollar is at the very end of the Green Party platform, and despite being the way to fund all the other platform proposals, and despite that it would end capitalism as we know it,​ it is never mentioned in the party literature or mentioned by Green Party candidates.

The party has a Banking and Monetary Reform Committee (BMRC), whose mission is to educate Greens about banking and monetary reform. It was formed as a standing committee in the wake of an attack on our platform by proponents of MMT seeking to remove monetary reform. Fortunately, our arguments in defense of the platform made much more sense to Greens than theirs did and their proposals were rebuffed. Yet even after the 4-week discussion clarifying our platform proposal, many Greens still don’t seem to grasp its importance for achieving our goals.

Listening to Jill Stein being interviewed, the assumption seems to be that the existing money is enough to do all that we need to do. This reflects a lack of understanding of how the monetary/finance system works. The banking system does not loan existing money, it creates new money for every loan and destroys it with every loan payment.​ This helps maintain a scarcity of money to drive more loans.

Why do so many Greens refuse to mention our monetary reform plank, Greening the Dollar? This is the question that concerns the BMRC. We understand, for instance, that the Green’s Eco Action committee has much to focus on regarding the environmental catastrophe upon us, it concerns us all. The question is, how do we the people of this nation wrest control of public policy from the finance industry that now controls it and make all the necessary changes needed to save our ecology?

Part of the problem is ideological as there is an element within the party that imagines we can have a moneyless Eco-socialist society. I've had to deal with a lot of people on that one from socialists and RBE fans and now Gift Economy people. I lived for 10 years on an intentional spiritual community did not use money within the community and while gifts were given as always among people, it was not how people obtained the necessities of life like food, water, clothing, housing etc. We were living according to the Book of Acts "Now all who believed were together, and had all things in common, and sold their possession and goods, and divided them among all, as everyone had need." It was the Biblical version of the Marxist 'From each according to ability; to each according to need.'

I didn’t realize it at the time, but I was getting a little education about economics and how in an economy with a broad division of labor an exchange medium is essential if you want to avoid austerity. If you live in a close-knit community where the primary concerns were just getting food and shelter extracted from the surrounding natural world there is no need for money and a gift economy in that context is natural. There are some in the Amazon Basin and remote areas elsewhere that still have such an economy but that is not available to most of humanity today.

​How the system works:

The​ big commercial banks control the creation and allocation of all money as interest bearing debt, as loans consisting of the principal plus interest added to the debt.​ As the principal is paid off that money is extinguished while the interest, which must come from the principal of another loan, goes to profit the bank owners​ and into asset pools owned by BlackRock/Vanguard. ​This is the economic growth imperative​ as society competes to pay the interest on the debt and not lose their collateral. However, when loan payments (money destroyed) exceeds loans being made (money created) the system crashes for lack of money and loans default.​ This has been called "the business cycle" but is more a monetary/finance system cycle.​ This then allows a transfer of wealth as the real wealth collateral from the loan defaults is picked up for pennies on the dollar, further concentrating wealth​ to the top which is then used for power and control.

Because all the money is created as interest-bearing debt, interest costs are buried into the prices of all the goods and services we buy. Beginning with the supply of raw materials, processing, shipping, wholesaling, and retailing etc. all required borrowed money. On average 50% of the prices we pay for goods and services are due to interest being paid to the banks.

Money Power

As former World Health Organization director Margaret Chan explained, ​"most of the organization’s funding comes from private donors and that they decide what that funding is to be spent on.​" In other words, only money talks, those who fund the WHO tell it what to do. This is true not only of the WHO but of nearly every public and private institution in the world including governments, as the 2014 Princeton study on political influence by Gilens and Page indicated. As Lord Acton pointed out well over 100 years ago, "power corrupts." The "power" he was referring to was money. He continued that "absolute power corrupts absolutely." Here he was referring to the power to create money, which is a public power that the commercial banks of the finance industry usurped from our government through legislative sleight of hand in 1913. They have steadily increased their power and control ever since. As Lord Acton said, "The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks."

Because all money is created as debt, the debt is unpayable and continues to grow. Debt is a form of slavery, and the world is facing a massive debt owed to these few powerful players. While our federal debt is just $34.5 trillion, including the private sector puts the nation’s debt at $97 trillion and growing fast. This while there is only $20 trillion in the nation’s money supply. However, it is a global system, and the global debt is now blowing past $313 trillion while there is only $85 trillion in the entire world money supply.

Changing the System

Greening the Dollar calls for three reforms to be implemented together.

• Require Congress to be the sole creator of all U.S. money debt-free;
• End the privilege of commercial banks to create money.
• Transfer all remaining operations of the Fed to the U.S. Treasury.

This would empower Congress to fulfill its Constitutional mandate as articulated in the first sentence of the Preamble and fully fund the common needs of the American people. Because the dollar plays such a key role in the world economy this change would allow other nations to follow suit. Issuing money is the most vital prerogative of democratic self-governance, money is the governing factor, and this would allow nations to reclaim their natural resources for the benefit of their people instead of massively enriching only a few billionaires. Because our proposal is based on historical monetary successes, we know how it will affect the economy.

Debt, so prevalent now, will begin to disappear and interest rates will go down as banks, no longer able to create money, compete for deposits. Prices will go down as well because they will no longer contain the 50% on average interest charges. Public policy will be reconnected to the politics so that representatives will be more accountable and able to fully fund public healthcare, education, and state of the art infrastructure. New investment in communities that have long been neglected will revitalize them and eliminate poverty. Large corporations will begin to shrink as the large infusions of credit they depend on is no longer available and they begin to sell off their production assets. Land reform will come to the fore as the nation, recognizing the basis of an economy, seeks to revitalize its agriculture with parity pricing to make small holding farming profitable again.

If we want a world where new structures replace our outmoded monetary system, a world in which we can choose abundance, community, and prosperity, then join us on the path to create a Money System that serves us all.