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Unnatural Law: Debt vs. Security


Unnatural Law
                                                                Debt vs. Security
The functional parameters of the concepts Debt and Security are black-and-white opposites. The contrast is so sharp that the use of the word “Securities” in investment circles is a fraudulent misrepresentation for the purpose of commercial promotion. There is nothing secure about paper. Ask Bernie Madoff’s investors. Read the rest of this entry »

What is the definition of “dollar”?


Harmon Taylor explains things so directly and logically. I hope this helps explain why we have so much confusion about money, today. You can subscribe to Harmon’s FREE newsletter at the link on the bottom of this post.

The answer, of course, is, “That depends.”

11 November A.D. 2009

Depends on what? At least two things: (1) The fundamental “choice of law,” of course, and (2) the time (period) of focus for that “choice of law.”

Several very beneficial exchanges of ideas have followed from the recent note about Jim Ewart’s book, “Money–Ye Shall Have Honest Weights And Measures.”

There truly is no issue more foundational to our getting our minds around our present legal reality than the Money/”funny money” issue. There may be some points equally foundational, but there is no point more foundational than the Money issue.

Included below are some website links, and some content within those sites, regarding the definition of “dollar.” This very first link goes to great trouble to distinguish (A) the definition of “dollar,” which is in terms of a weight of fine grains of silver, from (B) the definition or purity ratio of this or that “coin,” e.g., the “Eagle,” which coin happens, unfortunately, to be stamped with the term or symbol of “dollar,” along with a fixed numerical number of “dollars.” That discussion encourages our understanding of certain very significant details in this study of Money.

Why do we talk about Money? Because in the “place” called “this state” there is no definition of a “dollar,” period. Thus, the definitions for “dollar” that are included below are valuable and relevant ONLY to a “Law of the Land”-based system. They have no relevance to a “Law of the Sea”-based system, such as the system(s) in/of “this state.”

To understand that “dollar” IS defined, in terms of grains of fine silver, for one choice of law, and IS NOT defined, at all, for the other choice of law, is to recognize the “best evidence” of the duality of the “choice of law” that we need to come to terms with in order to recognize the legal mechanisms being used against us.

Again, “dollar” is defined for purposes of Law of the Land, and it’s defined in terms of grains of fine silver. “Dollar” is not defined for purposes of Law of the Sea, at all. Thus, “dollar” is “defined” on a per-transaction basis in “this state.” In other words, in “this state,” the term “dollar” takes on much more of a “choice of law” meaning/reference than an economic meaning/reference.

To understand why “time” is mentioned, let’s look at what should be a couple of intuitively obvious examples. (A) People used to be drawn and quartered. Why has that stopped? Because, “in time,” the moral response to, moral evaluation of, that form of punishment has changed. (B) Horse thieves used to be punished by hanging. Why is horse-stealing no longer a death penalty offense? Because, “in time,” the moral response to, moral evaluation of, that crime has changed.

Why, then, has the definition of “dollar” changed? Because, “in time,” the moral connection to, commitment to, the Scriptural standard has changed.

“Law” is a moving target. The “law” is different not only geographically but also within one “place” through time. (This “change in time” factor tends to be a huge stumbling block for many pro se litigants these days, who don’t appreciate, yet, the distinctions between the concepts generally applicable prior to the JFK assassination, i.e., while we still had an honest system of weights and measures in general circulation, and the concepts generally applicable after the JFK assassination, i.e., after the “passing” of the UCC, which exists for the primary purpose of justifying circulation of “funny money” at the “state” level. The fundamental “choice of law” changed when the “money” changed.) One of the best discussions about this “change in time” factor is the book, “U.S. of A. v. U.S., — The Loss of Legal Memory of the American States,” by Kegley, Henderson, and Wahler (HKW Publishing 2006).

In this context, what we “see” in the money issue is the classic dichotomy. We get to pick our Master. If we pick God, then we use His Standards for the Law, including His Standard for an honest system of weights and measures. If we pick “man,” then we use “man’s” standards for the law, including “man’s” standards for the fiat, i.e., “funny money,” system.

To supplement my five-part study of Money from the Scriptural side, which should still be available on the web at this link,http://www.diametrics.info/text/sp_money.shtml  (a 5-part series), I send you the information that follows.

That information is just a sampling of the information available via the internet. To find a whole slew of sites that talk about the definition of “dollar” (which information gets rather repetitive after a while), do a search using this string: silver dollar grains (those three terms, no quote marks).

Harmon L. Taylor
Legal Reality
Dallas, Texas

Subscribe / unsubscribe : legal_reality@earthlink.net

http://nesara.org/articles/nine_tenths_pure.htm

Nine-Tenths Pure
A quiet evening perusing the world wide web reveals a surplus of web sites attempting to discuss various monetary issues. Invariably, one of the more common topics is “constitutional” currency. This essay does not address the political side of those discussions, but provides several facts and clarifications. The objective is to show that a person can be easily misled while researching such topics. If anything, perusing the web reveals there is much confusion about “constitutional” currency.

Consider the following statement:

The U.S. Coinage Act of 1792 specifically defined a dollar as “one twentieth of an ounce of gold (25.8 grains of 90 percent fine) or a silver coin containing one ounce of silver (412.5 grains of 90 percent fine).”

Fact: There was indeed a Coinage Act passed in 1792. You can a read a copy at this web site.

Fiction: The U.S. Coinage Act of 1792 specifically defined a dollar as “one twentieth of an ounce of gold (25.8 grains of 90 percent fine).”

Fiction: The U.S. Coinage Act of 1792 specifically defined a dollar as “…a silver coin containing one ounce of silver (412.5 grains of 90 percent fine).”

Summary

The Act of 1792 established a definition of a dollar. A dollar was defined as a coin containing 371.25 grains of silver and 416 total grains of metal (silver and alloy). The purity ratio was 1445:1664. Thus, a dollar was not a unit of value, but a unit of weight based upon a precious metal commodity.

The Act of 1792 established a coin called an Eagle. An Eagle was defined as containing 247.5 grains of gold and 270 grains total metal. The purity ratio was 11:12. By statute the Eagle was established with a market exchange value of 10 dollars.

The Act of 1834 redefined the Eagle to contain 232 grains of gold and 258 grains total metal, thereby establishing a new purity mixture ratio of 232:258. The Eagle maintained a market exchange value of 10 dollars.

The Act of 1837 changed the purity ratio of both silver and gold coin to 900:1000 (9/10 purity). The new ratio changed the total metal grains of a silver dollar coin to 412.5, but did not alter the original silver content of 371.25.

The Act of 1837 maintained the 1834 total metal content of the Eagle at 258 grains, thus with the new purity ratio established a gold content of 232.2 grains.

The Act of 1849 created a new gold dollar coin to contain 25.8 grains of total metal and maintained the purity ratio of 900:1000. The Act also created the Double Eagle or $20 gold piece.

***

The following numbers are useful when discussing precious metal coins:

* 1 grain = 0.06479891 grams
* 1 pound, Troy = 373.2417216 grams;
* 1 pound, Troy = 12 ounces, Troy;
* 1 pound, Troy = 5,760 grains;
* 1 ounce, Troy = 480 grains

Many people erroneously refer to the dollar as containing an ounce of silver.

A Troy ounce contains 480 grains (5,760 ÷ 12 = 480). Therefore, by definition a dollar cannot contain one ounce of silver, but approximately 0.7734 of an ounce (371.25 ÷ 480 = 0.7734).

Using the numbers for a standard silver dollar coin as mentioned in the Act of 1792 (standard silver is normal grade ore, not purified), the numbers would be 416 ÷ 480 = 0.8667, still short of an ounce.

In the Troy system of weights and measurement, “one-twentieth of an ounce” (.05 ounces) would contain 24 grains (480×1/20 = 24), not 25.8 grains. Although many people refer to gold as at one time being 1/20 of an ounce, that number is actually an approximation/average of the various coinage acts as Congress tried to regulate the exchange value of gold coin. More importantly for this discussion, notice that the Act of 1792 never used such terminology as “one twentieth of an ounce of gold.” (In fact, try searching the entire Act for the word ounce or ounces.)

As a side note, the Avoirdupois measurement system defines one pound as 16 ounces and contains 437.5 grains per ounce.

***

Section 9 of The Coinage Act of 1792 established the definition of a dollar as “three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver.”

The Act established silver as the standard bearer of the definition of a dollar, not gold. Section 20 defined the dollar as the “money of account.” However, Section 9 of the Act established a gold coin called an Eagle, to have an exchange value of 10 dollars. If you read the Act you will notice that there was no gold dollar coin. Only Eagles, Half Eagles, and Quarter Eagles.

By establishing a gold coin for circulation, Congress was exercising its constitutional mandate to regulate the value of coins. Congress was not establishing two definitions of a dollar.

Section 11 introduced a gold exchange ratio of 15 to 1, according to weight. Therefore, under the Act of 1792, although a dollar was defined as 371.25 grains of silver, gold exchanged for a dollar at 24.75 grains of gold. Mathematically then, we can calculate that an Eagle ($10) contained 247.5 grains of gold (10 x 371.25 ÷ 15). Section 9 of the Act defined the Eagle as containing “two hundred and forty-seven grains and four eighths” of pure gold. Notice the numbers match the calculations and therefore the two sections of the Act agree. Apparently members of Congress back then possessed a good grasp of mathematics.

***

In 1792 a $10 Eagle contained 247.5 grains of gold. Therefore, a dollar—in terms of gold—was 24.75 (247.5 ÷ 10) grains of gold. An equivalent dollar in terms of ounces of gold would have been 24.75 ÷ 480 = .0515625 oz., or about 1/19.4 (19.393939) of an ounce. The reciprocal of that number implies that an ounce of gold had a purchasing power of $19.39.

Similarly, because a dollar was defined as 371.25 grains of silver, under the Troy system that equals 0.77344 ounces. In other words, the ratio of one dollar to ounces is 1:0.77344. Taking the reciprocal of that ratio means there are 1.29 dollars in an ounce, or $1.29/oz. However, bear in mind that statutorily declaring that silver is fixed at $1.29/oz. is an arbitrary mathematical relationship, not a market exchange relationship. Such a numerical relationship has meaning as a standard only.

Using the 1792 purity ratio numbers, calculating total grains of metal in a silver dollar would be 416 (371.25 ÷ [1485/1664] ) and for a gold Eagle 270 ( [10 × 371.25 ÷ 15] ÷ [11/12] ). Those are the exact numbers seen in Section 9.

In 1792, although no gold dollar coin existed, using those same numbers to calculate the equivalent gold in a dollar, there would be 24.75 grains of gold (247.5 ÷ 10), but total grains in the coin would be 27.

The Coinage Act of 1792 established one unit of account—the dollar—but provided a bimetallic system of coinage. That two forms of metal would circulate as currency was not a problem in itself, but some problems of bimetallism quickly became apparent soon after enacting the Act. Congress tried to make the two types of coin equal in purchasing power. If Congress had merely fixed the weight of the Eagle (or vice-versa with silver), the market would have determined the purchasing power of the Eagle with respect to the silver dollar coin. That decision likely would have kept both types of metal in circulation. Unfortunately, the Act fixed the exchange rate of gold coin. Soon after enacting the Act, for consumer reasons the commodity value of gold appreciated; thus the value of the Eagle as currency was less than the market value as a commodity; and gold soon ceased circulation as currency.

***

After many years with almost no gold coin in circulation, in 1834 Congress attempted to correct the problem by changing the gold exchange ratio to approximately 16 to 1. Congress therefore reduced in the Eagle the number of grains to 232 (10×371.25 ÷ 16 = 232). Total grains of metal was established at 258.

This Act was intended to encourage gold to reenter circulation and that indeed did happen. Yet, as you might imagine, the market again determined the perceived value of both metals as commodities. Later, discovery of new gold deposits (Australia and California) flooded the market with gold. By being more abundant for currency circulation than silver, silver coins soon dropped from circulation and became more valuable as a commodity than as currency. Gresham’s law took effect and silver almost completely ceased circulating as currency.

In 1834, an equivalent dollar in terms of gold was 23.2 grains of gold. A dollar in terms of ounces of gold would have been 23.2 ÷ 480 = .04833 oz., or about 1/20.69 (20.6896) of an ounce. The reciprocal of that number implies that an ounce of gold had a purchasing power of $20.69.

***

Notice the Act of 1792 has no “9/10” rule of purity. Section 12 of the 1792 Act defined the purity of gold coins to be 11:12 (.9167) and Section 13 defined the purity of silver coins to be 1485:1664 (.8924). The 1834 Act changed only the gold ratio of an Eagle.

This “9/10 pure” content is often found in many essays at many web sites but is incorrect when used in reference to the 1792 and 1834 Acts. The precious metal content of both silver and gold coin were close to a 9/10 ratio, but that is all. However, there is a basis for the “9/10 pure” ratio. The Coinage Act of 1837 changed the precious metal content of both coins to a 900:1000 ratio.

The 1837 Act maintained the silver content of the dollar at 371.25 grains; thus changing the total grains of metal (silver and alloy) from 416 to 412.5.

With that new ratio the Coinage Act of 1837 also adjusted the gold content of the Eagle to 232.2 grains (258 grains total metal and 23.22 grains for an equivalent dollar).

Using a ratio of 9/10 pure, the commonly seen number of 25.8 grains of gold can be derived by dividing 23.22 by 0.90. However, those numbers apply only to the Act of 1837, not the Acts of 1792 or 1834. That is, the 1837 Eagle contained 232.2 grains of gold (258 grains total metal), not the 1792 or 1834 Eagle.

Although the Acts of 1834 and 1837 combined with the subsequent gold rushes caused gold to be the standard coin of circulation, the fact remains that the nation was still on a statutory silver standard because the definition of a dollar remained unchanged. However, for much of that time the United States was on a populist gold standard.

The Coinage Act of 1849 introduced a gold coin that had a market exchange value equivalent to a silver dollar coin. However, that coin was not declared the unit of value or account. The gold dollar coin was considered a subset of the Eagle series (Eagle, Half-Eagle, Quarter-Eagle), but because silver had all but vanished from circulation as currency, Congress introduced the gold “dollar” coin. The purity ratio of that coin was the same as the other coins (900:1000). That ratio was maintained into the next century. Additionally, notice that Congress maintained the 16:1 ratio between silver and gold. That fixed ratio between gold and silver would continually agitate the American monetary system.

***

This essay shows that although there are many meaningful and sincere people all trying to help reform current monetary policy, many fictions float around the web disguised as fact. We hope you will forward this educational information to your friends and neighbors.

http://www.tulving.com/$1trade.html

The market in question was the Orient, particularly China. Some U.S. silver had found its way to that region previously, but now a full-fledged offensive was planned. The Chinese had shown a decided preference for silver coins, and up to then the bulk of American trade with China had been carried out with Spanish and Mexican dollars. The trade dollar’s architects set out to supplant those rivals by giving the new coin a higher silver content. They even had it inscribed on the coin: “420 GRAINS, 900 FINE.” At first glance, the trade dollar looks much like a regular silver dollar. It’s the same diameter and about the same weight as its predecessor the Seated Liberty dollar, and its portraiture is similar: a seated female figure representing Liberty on the obverse and a naturalistic eagle on the reverse designs prepared by Mint Chief Engraver William Barber.

In contrast to the new trade dollar, the regular U.S. silver dollar contained just 412.5 grains, and the Mexican dollar had only 416. But the architects had miscalculated; though it weighed slightly less, the Mexican coin had a higher fineness and therefore contained slightly more pure silver. The astute Chinese recognized this and, in many provinces, gave the U.S. coin short shrift, favoring the Mexican coin.

http://www.answers.com/topic/trade-dollar-united-states-coin

The currency law of 1873 created a special silver dollar, weighing 420 grains instead of the standard 412.5 grains, ostensibly to encourage trade with China, but more probably to provide a market for domestic silver producers (see Crime of 1873). The bulk of the 36 million pieces coined went to China, but at least 6 million were forced into circulation in the United States, despite the fact that after 1887 they were no longer legal tender. Many were bought at a discount and paid out at par to immigrant laborers who were forced to take the loss. Hoping to force the government to buy new silver, the silver interests delayed government redemption of the coins until 1887.

http://www.zoomcoin.com/rare-silver-coins/coin/silver-dollars/

SILVER DOLLARS 1794-1935
Peace Dollars – Early Dollars – Silver Dollar Prices

The silver dollar was authorized by Congress April 2, 1792. Weight and fineness were specified at 416 grains and 892.4 fine. The first issues appeared in 1794 and until 1804 all silver dollars had the value stamped on the edge: HUNDRED CENTS, ONE DOLLAR OR UNIT. After a lapse in coinage of the plain or reeded edges and the value was placed on the reverse side.

The weight was changed by the law of January 18, 1837 to 412 1/2 grains, fineness .900. The coinage was discontinued by the Act of February 12, 1873 and reauthorized by the Act of February 28, 1878. The dollar was again discontinued after 1835, and since then only the copper-nickel pieces first authorized in 1971 have been coined for circulation.

Origin of the Dollar

The word Dollar evolves from the German Thaler, the same name given to the first large-sized European silver coin. Designed as a substitute for the gold Florin, the coin originated in the Tyorl in 1484. So popular did these large silver coins become during the 16th century that many other countries struck similar pieces, giving them names derived from “thaler”. In the Netherlands the coin was called Rijksdaaler, in Denmark Rigsdaler, in Italy Itallero, in Poland Tolar, in France Jocandale, in Russia Jefimik. All these names are abbreviations of “Joachimsthaler.” Until the discovery of the great silver deposits in Mexican and South American mines, the mint with the greatest output of large silver coins was that of Joachimsthal in the Bohemiam Erzgebirge.

The Spanish Dollar, or piece-of-eight, was widely used and familiar to everyone in the English-American colonies. It was only natural therefore that the word “dollar” was adopted officially as the standard monetary unit of the United States by Congress on July 6, 1785.

FLOWING HAIR TYPE 1794-1795

Varieties listed are those most significant to collectors, but numerous minor variations may be found because each of the early dies was individually made. Blanks were weighed before the dollars were struck and overweight pieces were filed to remove excess silver. Coins showing old “adjustment marks” may be worth less than values shown here. Some Flowing Hair type dollars of 1795 ere weight-adjusted by inserting a small (8mm) silver plug in the center of the blank planchet before striking the coin. Values of variations not listed depend on collector interest and demand.

Designer: Robert Scot
Weight: 26.96 grams
Composition: .8924 silver, .1076 copper
Diameter; 39-40mm
Edge: HUNDRED CENTS ONE DOLLAR OR UNIT with decorations between words

DRAPED BUST TYPE, SMALL EAGLE REVERSE 1795-1798

(see above)

HERALDIC EAGLE REVERSE 1798-1804

The two earliest dies of 1798 have five vertical lines in the stripes in the shield. All dollar dies thereafter have four vertical lines.

THE 1804 SILVER DOLLAR

1804 First reverse, Original (Childs specimen sold for $4,140,000 in 1999,) 1804 Second reverse, Restrike (Adams specimen sold for $220,000 in 1989)

The 1804 dollar is one of the most publicized rarities in the entire series of United States coins. There are specimens known as originals (first reverse), of which eight are known, and restrikes (second reverse), of which seven are known.

Numismatists have found that the 1804 “original” dollars were struck at the mint in the 1834-1835 period, for use in presentation proof sets. The first known specimen, a proof, was obtained from a mint officer by Mr. Stickney on May 9, 1873, in exchange for an “Immune Columbia” piece of gold. Later, in 1859, the pieces known as restrikes and electrotypes were made at the mint to supply the needs of collectors who wanted specimens of these dollars.

Evidence that these pieces were struck during the later period is based on the fact that the 1804 dollars duffer from issues of 1803 or earlier and conform more closely to those struck after 1836, their edges or borders having beaded segments and raised rim, not elongated denticles such as found on the earlier dates.

Although the mint records state that 19,750 dollars were coined in 1804, in no place does it mention that they were dated 1804. It was the practice in those days to use old dies as long as they were serviceable with no regard in the annual reports for the dating of the coins. It is probable that the 1804 total for dollars actually covered coins that were dated 1803.

GOBRECHT DOLLARS 1836-1839

Suspension of silver dollar coinage was lifted in 1831; however, not until 1835 were steps taken to resume coinage. Late in that year Director R.M. Patterson ordered Engraver Christian Gobrecht to prepare a pair of dies from designs by Thomas Sully and Titian Peale. The first obverse die bore the seated figure of Liberty in the obverse with the inscription C. GOBRECHT F. (F. is the abbreviation for the Latin word Fecit or “made it”) below the base of the Liberty. On the reverse was a large eagle flying left surrounded by twenty-six stars and the legend UNITED STATES OF AMERICA ONE DOLLAR. Criticism nay have forced Gobrecht’s name to be moved to the base of Liberty on a new die and, with this, pieces were struck in late 1836 on the 1792 standard of 416 grains.

In early 1837 the weight was lowered to 412 1/2 grains and pieces were struck o the new standard in March, 1837, using the dies of 1836. To distinguish the 1837 coinage from that of 1836, the reverse die was oriented in “medal” fashion.

Between 1855 and 1870 the Mint produced restrikes to satisfy collector demand. Mules (mismatched combinations of dies) were also struck in the demand. Restrikes and mules are seldom seen in worn condition.

Dollars issued in circulation in 1836, 1837, and 1839 are found with many different die alignments. The “original” issue of December 1836 has the normal “coin” alignment with eagle flying upward. These coins were usually made on heavy weight (416 grain) planchets. The special issue of 1837 (made from dies dated 1836) is different than the 1836 issue in that the dies are oriented in a “medal” alignment. Those coins were made from either heavy or light planchets because the change in standards that occurred in 1837, and because some of the coins minted in 1837 used planchets held over from the previous year.

Restrikes incorporated both “medal” and “coin” turns, and use the same die combinations as originals, but with the eagle flying level when rotated. Mules with wrong edge or die combinations also exist and are all rare.

LIBERTY SEATED TYPE – HARALDIC EAGLE 1840-1873

Starting in 1840 silver dollars were issued for general circulation, but by spring 1853 the silver content of such pieces was worth more than the face value, and later issues were not seen in circulation but were used mainly in export trade. This situation continued through the late 1860s. The seated figure of Liberty device was adopted for the obverse, but the flying eagle design was rejected in favor of the more familiar form with olive branch and arrows used for the other silver denominations.

The 1866 proof quarter, half and dollar without motto are not mentioned in the Director’s Report, and were not issued for circulation.

Designer: Christian Gobrecht
Weight: 26.73 grams
Composition: .900 silver, .100 copper
Diameter; 38.1mm
Reeded edge
Mints: Philadelphia, New Orleans, Carson City, and San Francisco
New weight: .77344 oz.

TRADE DOLLARS 1873-1885

This coin was issued for circulation in the Orient to compete with dollar-size coins of other countries. It weighed 420 grains compared to 412 1/2 grains, the weight of the regular silver dollar.

Many of the pieces that circulated in the Orient were counterstamped with Oriental characters, known as “chop marks”. These are generally valued lower than normal pieces. When first coined they were legal tender in the United States to the extent of $5.00, but with the decline in price of silver bullion Congress repealed the legal tender provision in 1876 and authorized the Treasury to limit coinage to export demand. In 1887 a law was passed authorizing the Treasury to redeem, for six months, all Trade dollars that were mutilated.

The Trade dollars of 1884 and 1885 were unknown to collectors generally until 1908. None is listed in the Director’s Report and numismatists believe that they are not a part of regular mint issue. After 1878, strikings were specimen proofs only.

The law authorizing Trade dollars was repealed in February, 1887.

Designer: William Barber
Weight: 27.22 grams
Composition: .900 silver, .100 copper
Diameter: 38.133
Reeded edge
Mints: Philadelphia, Carson City, and San Francisco
Net weight: .7874 oz. Pure silver

MORGAN TYPE 1878-1921

The coinage law of 1873 made no provision for the standard silver dollar. During the lapse in coinage of this denomination the gold dollar became the unit coin, and the trade dollar was used for our commercial transactions with the Orient.

Resumption of coinage of the silver dollar was authorized by the Act of February 28, 1878, known as the Bland-Allison Act. The weight (412 1/2 grains) and fineness (.900) were to conform with the Act of January 18, 1837.

George T. Morgan, formerly a pupil of Wyon in the Royal Mint of London, designed the new dollar. His initial M is found at the truncation of the neck, at the last tress. It also appears on the reverse on the left-handed loop of the ribbon.

Coinage of the silver dollar was suspended after 1904 when the bullion supply became exhausted. Under provisions of the Pittman Act of 1918, 270,232,722 silver dollars were melted and later, in 1921, coinage of the silver dollar was resumed. The Morgan design, with some slight refinements, was employed until the new Peace design was adopted later in that year.

Sharply struck, “proof-like” coins have a highly reflective surface and are very scarce, usually commanding substantial premiums.

Designer: George T. Morgan
Weight: 26.73 grams
Composition: .900 silver, .100 copper
Diameter: 38.1mm
Reeded edge
Mints: Philadelphia, New Orleans, Carson City, Denver, and San Francisco
Net weight: .77344 oz. pure silver

PEACE TYPE 1921-1935

The dollar issued from 1921 to 1935 was a commemorative peace coin, which might easily have been a half dollar. The Peace Dollar, in fact, was issued without congressional sanction, under the terms of the Pittman Act, which referred to the bullion and in no way affected the design.

Anthony De Francisco, a medalist, designed this dollar. His monogram is located in the field of the coin under the neck of Liberty.

The new Peace Dollar was placed in circulation January 3, 1922. 1,006,473 pieces were struck in December, 1921.

The high relief of the 1921 design was found impractical for coinage and was slightly modified in 1922 after 35,401 coins of that date were made and melted at the mint. The rare matte and satin finish proof specimens of 1922 are of both the high relief style of 1921, as wells as of the normal relief.

Legislation date August 3, 1964 authorized the coinage of 45 million silver dollars, and 316,076 dollars of the Peace design dated 1964 were struck at the Denver Mint in 1965. Plans for completing this coinage were subsequently abandoned and all of these coins were melted. None were preserved or released for circulation.

Designer: Anthony De Francisci
Weight: 26.73 grams
Composition: .900 silver, .100 copper
Diameter: 38.1mm
Reeded edge
Mints: Philadelphia, Denver and San Francisco
Net weight: .77344 oz. pure silver


Where Did Our Gold Go?


This newsletter should be at the center of financial attention. The question is still unanswered. The Federal Reserve certainly doesn’t want to discuss it. You can subscribe to Harmon Taylor’s FREE newsletter at the bottom of this post.

4 December A.D. 2009

Why was there a constitutional convention, at all? Because the states were already being used as conduits for circulation of “funny money.” So, the concept was that a “greater power of man” would be necessary to prevent the state leaders from using the states as sources of “funny money,” known/labeled at that time as “Bills of Credit.”

As a nation, we’ve been pilfered by “funny money” practically from the outset.

Regarding the system in place now, i.e., the federal reserve system, FDR got it started in earnest by using the pretext of war as “the reason” for stealing the gold. JFK saw over the near horizon the key developments in the “funny money” system, and he opposed that system with every ounce of his being. To instigate the “funny money” scam, JFK had to go.

From that point in time, we find a new variation on The Golden Rule: He who has access to the gold takes the gold. This is a very slight variation on, “Do unto others, and run!”, which has been adapted in this country this way: “Do unto others, and run for high office” (so as to have access to the gold).

Basic physics teaches us basic reality: For every action there is an equal and opposite reaction.

So, it should come as no surprise that where the West has “leaders” intent on stealing the world’s gold supply, we have the Eastern Response to the new variation on The Golden Rule: If you’ve done unto us, you can neither run nor hide.

Inquiring minds would like to know who has all of America’s, and everyone else’s?, real gold for which the tungsten was substituted, and where did they put it all: land, sea, or air/space? (Anyone been to the South Pole lately?)

Harmon L. Taylor
Legal Reality
Dallas, Texas

P.S. And, while all this international focus is on the gold, it’ll be interest to see of the one-worlders have the financing to keep up the UFO charade.

Subscribe / unsubscribe : legal_reality@earthlink.net


Where Will You Go When The Sovereign Debt Volcano Blows? (via Socio-Economics History Blog)


We have to trust in Divine Providence to put us in the right place, at the right time. There is no where to run to. A good common sense start would be to get away from the major cities. When this mess blows, it will be spectacular.

Where Will You Go When The Sovereign Debt Volcano Blows? Private bankster debts have been socialized and this is leading to a sovereign debt crisis. The amount of public debt which America carries is in the region of US$100T-200T when you include Social Security, Medicare, GSE debts, unfunded liabilities, off balance sheet items..etc. The debt to GDP ratio of most Eurozone nat … Read More

via Socio-Economics History Blog


Economic Collapse, Global Debt Crisis & Depression Explained ! (via Socio-Economics History Blog)


This is what I was writing about when I listed “The Four Money Questions”. We are capable of understanding. We have standards of judgment. We are competent to make our own decisions.

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via Socio-Economics History Blog


Land & Wealth vs. Debt & Promises: The End Game


Land & Wealth vs. Debt & Promises: The End Game

It is fitting that a series of programs aired on the History Channel in the order they appeared. First, there was a 2 hour documentary on the history of currency and it’s dark side, counterfeiting. This was followed by an hour on silver mines. Then, there was an hour on gold mines. That was the perfect background for this series. The statement that, in 1972, Richard Nixon freed the world from the tyranny of gold, is the perfect example of the arrogance and hypocrisy of human nature. History, filled with the evidence of dead civilisations, tells us that all wealth comes from the ground and was created with the foundation of the world. Every attempt to evade the Creator has the seed of it’s own destruction in it. Will the world acknowledge the lesson of history or collapse in failure again?

You would think that after almost 6,000 years, the world would know right from wrong. Certainly, someone should have acquired the wisdom to avoid repeating the same bad choices. About 3 decades ago, the proposal was made to index the price of oil to the prices of manufactured goods. The concept was not a new idea. Parity pricing has always been a stable and beneficial foundation for any economic structure. Even so, that proposal was rejected. Why any responsible and rational mind would reject such a proposal is unthinkable. Under a parity system, every aspect of economic activity improves. Producers of raw materials, manufacturers of finished goods and end users of those goods all prosper in an honest environment of equitable compensation. The only criticism that parity economics has ever faced is that it hinders the opportunity for the issuers of currencies to lie, cheat and steal.

Inflation. Not one person in one hundred knows what it is or how it works. People debate it’s workings, but never ask the questions that would open their understanding. No one ever asks who gains from inflation and who is cheated. For all of the fingers pointed and claims made, the same people win, every time. The operative component of inflation is arbtrary and worthless paper currencies. With no collateral to rest on, the door is opened to deception and manipulation. Promises are made, nations are buried in debt, and assets are sold off to keep an economy “solvent”. That solvency is also fabricated and contrived, subject to revocation. Witness the economic collapses in Mexico and Argentina. Both are slave nations, property of the United Nations and the International Monetary Fund. Seeing themes and plots from movies in the news, presented as real life, got old a long time ago. People are told that Economics is a science too complicated to be understood by ordinary people. The stunning lies that are fed to people set them up to be harvested in a very well established system of wealth transfer. From “The Longest Yard”, we have “If it worked once, it should work again, right?”. In 1929, Winston Churchill hosted a party on the night of the stock market crash. Those people cheated the people who worked the land and produced wealth out of their life savings and their homes. In 2000, 7 Trillion dollars went somewhere. Wealth doesn’t just disappear. It goes into someone’s pocket. We must ask ourselves; Is being first in the breadline at the soup kitchen a good thing?


How does this deliberate cycle of enticement, deception and theft translate to today? We have people who watched their savings leak out of their retirement plans. In self defense, they followed the advice they were given, investing in “emerging markets”. There were no markets. They invested in emerging manufacturing bases. Now they wonder what happened to their jobs. We have people who owe more on their homes than they can sell them for. But, refinancing and adjustable rates were good things, weren’t they? Obviously, the truth, the whole truth and consult your financial advisor before being swindled didn’t come into play, here. This is exactly how the harvesting process has always worked. When will people understand that the world is structured to take everything they have and leave them for dead?Now would be a good time to take stock of the present situation. People believe that the circumstances are good if they can buy things and go places. This is madness. The admissions that are made every day clearly refute the public perception. For months and months, we were told that there wasn’t any serious inflation to be concerned about. Now, we are told that inflationary pressures are expected to moderate by the end of the year. I’m sorry. I missed a transition in there, somewhere. Of course, I’ve been hearing for at least a year, that if diesel fuel prices hit $6/Gal., truckers are going to park their trucks and walk away from the loans. The ones that are worried about making their truck payments have nothing to worry about. The banks have a vested interest in keeping their trucks rolling. We haven’t seen anything yet. With commodities shortages and hyperinflation at the doorstep, the world is learning that paper is not gold and silver.

The events of the past week bring home the point of this series. Like it or not, we are in the same world with the destruction that has been inflicted on the world with debt and promises. The worst thing that ever happened to Africa and South America is the International Monetary Fund. After 50 plus years of loan guarantees and refinancing of debt, countries have been destroyed in both name and culture. The developed world faces the same fate. Entire continents are becoming land absorbed into the corporate structure, containing homeless people in holding pens. After people have traded their land and wealth for worthless paper, they are at the mercy of the harvesters. Revolving, escalating debt establishes slavery everywhere it takes root. Once established, people are removed from the land and commercial entities enter in under the authority of inequitable agreements entered into under coercion. Once debt is incurred, armed conflict inevitably follows. Any resistance by the indigenous population is met with military force. Once people are removed from land, resources are removed, leaving that country more impoverished than it was before. Without sovereign control of commerce, any nation is the property of a corporation. Cities become holding pens, people become livestock, and the slaughter begins. Remember Thomas Jefferson’s quote: “If private banks are allowed to control the issuance of currency, they and the corporations that shall spring up around them, shall deprive the people of all liberty and property. They shall find themselves homeless in the land that their fathers settled.”.

People come. People go. Done properly, there is no conflict or confusion. As congestion and dependency increase, people and their connections to the land are severed. Where the emphasis once was on self-sufficiency, there now exists a corporate inflicted vulnerability. As people and life were separated from the land, so they were separated from individual conscience.  Individuals used corporate charters in a vain effort to shield themselves from the consequences of their actions. The evidence of history is that judgement comes and reality is served. Behavior that works stands the test of time. History is not kind to those glaring examples of failures that litter the wayside of time.

It is one thing when one individual declines to interact with another. It is quite another when two individuals are prohibited from interacting by a third. The issue of authority is instantly raised. In actual fact, multiple authorities are instantly in play. The transition between the two states is the most fascinating study in human nature. It is at the root of every conflict. In the whirlwind of current events, the difference might seem insignificant. There are so many authorities, legitimate as well as false, competing for attention. Without fixed standards of judgement, it is impossible to avoid deception and destruction. There is no substitute for being in the right place, at the right time, and taking the right action. How were Pts. 9 & 10 so important and related? They are critical factors in food production. From the corporate view, very often, indigenous populations are just in the way. Shutting down food production in a country is just one way to clear the land. The only result coming from international activities in developing nations in the last 50 years has been war, famine, disease and crushing ebt. When international forces enter an area, it is for the purpose of securing the harvest of resources. Food production is just one of the means that sustains a population on the land. At one time, Rhodesia was known as the breadbasket of Africa. By contrast, Zimbabwe is an unproductive beggar nation, dependent on  handouts and cheated out of it’s resources.


From Babylon To The United Nations: Road Map To Armageddon


       History is not kind to the tyrants who sacrifice the future for gain in the present. Sowing the seeds of corruption reaps a bitter harvest. Knowing the end from the beginning will become very important. We are watching the world approach a bad end.

     From Babylon To The United Nations: Road Map To Armageddon 

     The empires that mark the timeline of history leave a record of many common characteristics. The people and cultural parameters may change, but the basic foundation is found in expression of the dark side of human nature. Lurking under the surface, in every second of human history, is the compulsion to claim and enforce the power of life and death over other men. The fact that history is measured by war and genocide is not a statement of the progress of human relations. To the contrary. History is evidence in a murder trial.

     Humanity does not fare well as a defendant. The names of historical record have entered their guilty plea. The tyrants of the present and future will find themselves waking from their delusion in an environment where they are not the highest authority. To knowingly violate natural law is to incur a life debt. Since humanity can not originate life, history is the record of repeated failures. Impersonating life with forms of institutional death is the ultimate delusion. As we shall see, every great empire is born in delusion.

     Throughout the millenia, many have had a vision of how to run the world. Fortunately, only a relative few have established empires. When they have, they left hundreds of millions of dead bodies in their wake. Domination of the world doesn’t include everyone. Here is one such ambitious plan. The corporate structure doesn’t care who the players are, as long as humanity is enslaved. In their own words, see the contents at:
http://www.newamericancentury.org 


This is nothing new. Planned wars, mercenary civil wars, the spread of disease are all intended to undermine national governments and subjugate people. Unfortunately, there are those who see most of the people of the world marked for elimination. The intended demise of 5.5 billion people is found at:

     http://www.radioliberty.com/stones.htm 

     Such evil inspires to rob, kill and destroy.

     Continuing in the line of world domination is the population control agenda. People see war, poverty, famine and disease as tragic events. In most of the world, tragedy is no accident. People are displaced by civil war, disease and a complete disruption of life as they knew it. A thorough study of  the document at
http://www.radioliberty.com  

would be a good starting point.

Titled “The Population Control Agenda” by Dr. Stanley Montieth, this article and the references it contains outline the global agenda for the world’s population. This is where arrogant men decide who lives and who dies.
The strident calls for global regulation and a global currency are only the beginning. The history of the consolidation of wealth and power is a record of inhumanity. The objective of commerce is always conquest. If all people are under the same currency, how shall they escape conquest?

The only activities that seem to be working these days are those related to undermining existing social structures. Stock market analysts talk like gamblers trying to break even. Politicians talk about ways to get their hands on more money. Legislatures debate on squeezing the Golden Goose harder with more regulations. No one seems to care about inflation as the financial structure works day and night to inflate the next bubble. Just because the central banks don’t seem to be  worried about inflation, that doesn’t mean that you shouldn’t be.

     The combination of inflation and tax the rich schemes moves jobs to other continents. So much for free trade. The record shows that industries were traded for debt. People borrow money to make other people rich. Next week, people will pull a lever and give their consent to fraud. They volunteered to pay their share of the debt. They have no complaint when they discover that their next job doesn’t exist.

If people realized that intrusion by the corporate structure was the cause of their problems and not the solution, conditions would improve, dramatically. The expert speculation is that we will see fascist takeovers of entire segments of national and global economies. Again, the world falls into the trap of giving up independence for the cost of printing the paper. We are seeing the repeated folly of the ’90s. Trading substance for perception is just a polite euphemism for believing a lie.

There is no real money to pay for the destruction of national boundaries and civil liberties, so everyone will play with paper to get it done. Global government has always been the goal of the corporate structure. More than 6 billion people are expected to check their humanity at the door and lower their heads. It is a dark life, being a robot in the corporate structure.

With all the confusion and commotion of the past week, people have lost sight of the issues that most closely affect their lives. Remember when the bar codes on products and the magnetic strips on the various cards were seen as a gross invasion of privacy? Now they are seen as commonplace and not a danger. The world has gone so far beyond those developments. The cultural conscience has been dulled.

     We now see biometric information, retina scans, warrantless searches by surveillance technology. There is no privacy. If the corporate structure wants video of an individual in the shower, that is attainable. Where is the end of this intrusion? As long as people volunteer into slavery, there is no end to intrusion.

A crisis is a problem, rolled into a tube, and stuffed with a lie. Without a fabricated context built out of false content, no problem can become a crisis. A good example is that a bubble cannot be inflated with gold and silver. The only way to inflate the supply of gold and silver is to dig deeper and faster.  Contrary to popular belief, it is not possible to manufacture real money. At best, parity in commodities produces prosperity. At worst, false equivalents create shortages. Printing paper currencies is an enabling mechanism for corruption.

     The events of the past two months should have opened the world’s eyes. The seamless interaction between government and private agendas has produced a striking change in the world. Now, in the name of “help”, government and private banks are seizing title to property. People now rent everything and pay, according to terms of private contracts. Learning how the modern game is played is good. Learning how to stay out of the debt game is better.

Explanation is in order. Not all purchases and sales are equal. In a mortgage transaction, the real estate is collateral against the debt and title is in the name of the bank. The currency is the property of the banking system, whether in your possession or theirs. Since everything in the transaction is property of the banking system, everything remains property of the banking system. Upon payment of the loan, the buyer is allowed use of the property, under license, by contract. To understand how people enter into such inequitable contracts, we must be able to identify people indoctrinated into the process of the Beast. That is a difficult task, because we may find ourselves looking into a mirror when doing so.

Yes, we have met the enemy, and they is us. Thank you, Pogo.

Evidence of indoctrination into the process of the Beast is easily identified, if you develop the eye to see it. The trouble is, universal training makes sure that you can’t see it. Once the public school brainwashing is addressed and overcome, obvious slave trading practices become glaring warning signs. The first sign is when your slave status is questioned. If you are required to show proof of who owns you (U.S. citizen) or which plantation you are working on (employment history), then you are being measured as a slave.
That is the beginning of containment. Complying with these requirements sets in motion a series of traps that are easier to get into than out of. This is why most people can’t see that they are trapped. The cultural boundaries are set to prevent escape. This is why there is so much cultural pressure to comply with the demands of the corporate structure. People are now monetized and packaged, bought and sold. At the heart of the process is the transfer of human beings into the ownership of a legal fiction. That box is the prison that people walk around in.

The chain of custody of evidence of indoctrination into the process of the Beast can be very difficult to trace. Since most people aren’t Sherlock Holmes, the worldview imposed by education and culture blinds people to the truth. The most secure prison is the institution in which the inmates believe they are free. The thought of escape never enters their minds. One facet of today’s prison is the concept of the free market economy. Such a social construct has never existed in the world of fiat paper currency. Such economies are operated as a managed corporate benefit. As such, participation in said economies is restricted by license and contract. The obligations incurred by those encumbered by such contracts do not manifest until a time of crisis, whether real or imagined. At that time, unquestioning obedience to the corporate structure is the requirement. This is how millions of people are abandoned to the death camps and slave labor, while the rest of the world is frozen in inaction.

Again, I ask: Who will we betray to maintain our position in the corporate structure?

After a month of travel and observation, it is painfully obvious that people accept controlled environments as a viable means of survival. They worship at the feet of their masters and promote compliance with obviously destructive social and political conditions as a good thing. Accepting what is perceived as benign dictatorship by commerce is a fatal error. The coming days will see desperate people in desperate circumstances. People will accept the only choice made available to them, over and over. The result will be repeated episodes of corporate management. Populations will be marginalized and impoverished. Those who benefit from the betrayal of humanity will call it good. Those who have positioned themselves to benefit from the policies of commerce will one day find innocent blood on their hands. They refuse to see it now. They will admit it, in despair, when their efforts won’t wash away the evidence of their guilt.

An interesting transformation takes place when people are separated from land. People become a fabricated image, created and manipulated by commercial culture. As such, they become property. This is proof that the objective of commerce is always conquest. Since history is taught as a commentary on commercial activity and control, the only world that people know is the one created for them to see. People have no frame of reference to test the validity of what they are taught. Independent audit of content is the only method of evaluation that works. The first question that must be asked is,

Who controls the land and resources?”

Without that answer, people have no way of knowing how their choices are eliminated and their free will is limited. In this condition, people keep themselves in a system that does not recognize the inviolate status of life and the intrinsic obligations of life. It is a system of artificially monetized commercial utilization of human beings. To be indistinguishable from resources harvested from the land is the most wretched condition that any civilization can impose upon itself.

Is it lawful for one individual to assist another in the commission of a crime? If people knew the crimes that they gave consent to and allowed to be committed by the authority of their name, so many of the aspects of commerce would disappear. All manner of thefts, assaults and murder are inflicted on the people of the world,  WITH THEIR OWN CONSENT!

The corporate structure demands active and willing participation in it’s declared opposition to the Creator. Where there is required to be reverence for life, commerce inflicts death. Where kindness and compassion are to be the standard by which men are judged, commerce inflicts cruelty in unquenched greed. Where honest weights and measures are the required standard in transactions to assure prosperity, trading substance for debt brings poverty and bankruptcy. It is the false institutions of the corporate structure that deprives people of all wealth, property and liberty. Come out of the debt system before it crushes everything that is good in life.

“When the laws undertake to add to these natural and just advantages artificial distinctions; to grant titles, gratuities, and exclusive privileges; to make the rich richer and the potent more powerful, the humble members of society, the farmers, mechanics, and laborers, who have niether the time nor the means to secure like favors to themselves, have a right to complain of the injustice of their Government.”  - Andrew Jackson

Over the past three months, we have seen trillions of units of currency devoured in consolidation of financial institutions, commodity and stock speculation and without a clear accounting of where it all went. Little or no access to these funds was granted to those taxpayers who are pledged to repay the debt. Yet, the people labor under the threat of economic collapse. This is a repeated pattern in history. There is a day of reckoning in the near future.

“It is to the property of the citizen, not to the creditor of the State, that the original faith of society is pledged. The claim of the citizen is prior in time, paramount in title, and superior in equality.” – Sir Edmund Burke

Such a principle should be obvious. Apparently, this wisdom was either lost or ignored in the last century. No deception by monetization of debt can absolve those charged with care of the public trust of their duty. The first obligation is to the people who produce wealth from the land, by their labor. Mortgaging the future to feed the excesses of the present is dereliction of duty and an outright theft. Now, where did that $8.5 Trillion go, again? Are the common people that it was stolen from also expected to repay it?

May the outrage of the people reach Heaven.

“The power to issue money should be taken from the banks and restored to Congress and the people” – Thomas Jefferson

The creation and implementation of the Federal Reserve System continues to be the biggest bait-and-switch scam in the history of money. The original contract was that all paper currency must be redeemable in gold and silver coin. With the advent of the Federal Reserve, the currency represents an exchange of debt instruments. Since the currency is created from nothing, is suppported by nothing, it is worth nothing.  The banks are owed nothing. When will the American people ask the fundamental question:

“Where is our gold and silver?”

Never underestimate the ability of people to ignore common sense to get around the voice of their conscience. Taking shortcuts and “easy” paper credit is the trap the world won’t escape, this time. The world has never escaped the  consequences of believing the lie that is paper “money”. If people can’t see it coming, they must surely be able to hear it coming. The currency devaluations of the past week are not keeping things on an even keel. People seem to feel that, as long as their country doesn’t have to admit to being insolvent, everything is good. Nothing could be further from the truth. Every bank is insolvent. All are bankrupt. The coming year will bring the ugly truth to plain view.

Hyperinflation, currency collapses and civil disturbances will eclipse anything seen before in history. Government can’t save anyone, now. The fraud and theft has gone too far. When government, the financial structure and the media lie, cheat and steal, the people suffer for it. Last September was just the beginning. It’s headed into the Pit, now. Every time the currency supply doubles, the closer it gets to a crash.

Whether with head in the clouds or buried in the sand, people have to pay attention when the thunder rolls and the ground shakes. If you can’t recognize the signs, at least read history. The currency supply has increased 765% in recent months. That’s more than a decade of inflation in no time, at all. Politicians can’t raise taxes, so they get it out of people with higher prices. Freedom disappears at the same time as independence. A nation of producers becomes a nation of beggars. The borrower becomes servant of the lender.

“In a time of universal deceit, telling the truth is a revolutionary act.” – George Orwell

Pressure comes from everywhere in the modern world. Whether from media, the culture of globalization or marketing, an endless barrage of demands not seen in any previous generation flood over everyone, everywhere. The information gathered on individuals is staggering. Private information is no longer private. When that information is used against someone, it is news to them. When medical records are used to deny employment or insurance coverage, it is a sudden shock to an individual. When purchase records on a store discount member card are used as evidence in a trial, it is a gross invasion of privacy by the corporate structure.
Where does it end? It ends with the tracking and restraint of everyone’s freedom. People have forgotten the value of the liberty that is inherent in privacy.

There is always a crisis in the world. Most of the time, independent verification is not possible. There is a proper response in the lessons of history. Things that haven’t happened yet aren’t necessarily an immediate crisis. Taking care of and paying attention to important things such as food, water and shelter keeps situations from becoming a crisis. Big things, like the warnings in the weather changes and the verifiable threats of future actions and conditions are not so easily compensated for. If the dire predictions for the immediate future are all true, there is no place to run to, anyway. If governments and banks collapse, we are all on our own. If the global climate goes into an ice age suddenly, we as individuals couldn’t stop it. To avoid that helpless situation, prayer would be a good idea. Now would be a good time.

As we approach 2012, the most prominant feature of human nature is the ease in which people suppress their personal convictions for the promise of prosperity. History teaches that people always end up in shame and poverty. Today, there is such outcry for peace and safety. How do people find the lack of integrity to go back and beg at the feet of leaders who betrayed and robbed them? If a neighbor did the same thing, they would confront the neighbor. Yet, countries are plunged into war and starvation. At no time in history has any nation achieved prosperity by internal plunder of it’s citizens. In every instance, leaders strip nations of wealth and the rich men of the Earth celebrate in victory. Recent events repeat the mistakes of history. Change for the sake of change always leaves the people who’s enthusiasm turned to dismay less free and prosperous than before. Where will it end?

The world will either break the yoke of debt or succumb to the slavery of the moneychangers.

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