Debt Free Money

Debt Free Money

It is very difficult for me to make people understand that there is no need for government borrowing or for the government to tax the People. As the government of a sovereign nation our government has the power to issue our money supply debt free. This is in fact the most important feature of the sovereignty of a nation. Without this power we are not a sovereign nation. We are banker’s debt slaves. As Banker Mayer Amschel Rothschild said “Let me issue and control a nation’s money and I care not who writes the laws.”

A People’s government issuing the money supply debt free is nothing new. In Australia this was achieved by the government owned Commonwealth Bank of Australia. (1)

In pre-independence USA the colonial governments issued debt free “colonial script” until this practice was prohibited by the English Currency Act. This was the real reason for the War of Independence.  (2)

United States President Abraham Lincoln issued debt free Greenbacks and shortly after  the Banker controlled The London Times printed the following: “If that ….. financial policy, which had its origin in the North American Republic, should become ……… a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without a debt. It will have all the money necessary to carry on its commerce. It will become prosperous beyond precedent in the history …….of the world.” Lincoln was soon after assassinated and the Greenbacks taken out of circulation. (3)

President John F Kennedy followed in Lincoln’s footsteps and was soon after assassinated. (3).

In England on the 7th August 1914, in order to avoid a run on the banks, the Treasury issued debt free Bradbury Pounds. (4)

The government owned Bank of Canada injected debt-free money into various infrastructure projects to help bring Canada out of the Great Depression and financed the enormously costly World War II war effort. (5)

In 1937 after 2 years of enquiry the Australian Royal Commission on Money in Section 504 of its report stated:-

“….the Commonwealth Bank can lend to the Government or to others in a variety of ways, and it can even make money available to the Governments and to others free of any charge…”

As this last clause led to a good deal of controversy as to its exact meaning, Mr. Justice Napier, Chairman of the Commission, was asked to interpret it, and his reply, received through the secretary of the Commission (Mr. Harris) was as follows:-

“This statement means that the Commonwealth Bank can make money available to Governments or to others on such terms as it chooses, even by way of a loan without interest, OR EVEN WITHOUT REQUIRING EITHER INTEREST OR REPAYMENT OF PRINCIPAL.” (6)

John Wooward

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