Was the 1938 to 1974 Bank of Canada policy based significantly on Lincoln Greenbacks?

[DennisPTate]

I have difficulty imagining that the Canadian Fathers of Confederation were entirely unaware of how the President Abraham Lincoln Greenback Monetary Policy Experiment had save USA taxpayers about four BILLION dollars in Interest payments?

The Lincoln Greenback Monetary Experiment took place from 1861 to his death in 1865. The British North America Act formed Canada in 1867. Was the Greenback Monetary Policy Experiment in the minds of the Canadian Fathers of Confederation as they Drafted the British North America Act?

So we move ahead to 1938 and we will see that Canadian political leaders came up with a way of creating Canadian Dollars that did not cause the national debt of Canada to spiral out of control but then we come to 1974 and we have what could be argued to having been one of the most colossal errors by a sitting Prime Minister when Prime Minister Pierre E. Trudeau abandoned an obviously extremely effective Bank of Canada policy.

[Melvin Sickler] :

During the Civil War (1861-1865), President Lincoln needed money to finance the War from the North. The Bankers were going to charge him 24% to 36% interest. Lincoln was horrified and went away greatly distressed, for he was a man of principle and would not think of plunging his beloved country into a debt that the country would find impossible to pay back.


Eventually President Lincoln was advised to get Congress to pass a law authorizing the printing of full legal tender Treasury notes to pay for the War effort. Lincoln recognized the great benefits of this issue. At one point he wrote:

"... (we) gave the people of this Republic the greatest blessing they have ever had -- their own paper money to pay their own debts..."

Lincoln printed 400 million dollars worth of Greenbacks (the exact amount being $449,338,902), money that he delegated to be created, a debt-free and interest-free money to finance the War. It served as legal tender for all debts, public and private. He printed it, paid it to the soldiers, to the U.S. Civil Service employees, and bought supplies for war.
Shortly after that happened, "The London Times" printed the following: "If that mischievous financial policy, which had its origin in the North American Republic, should become indurated down to a fixture, then that Government will furnish its own money without cost. That govern-ment must be destroyed, or it will destroy every monarchy on the globe." In retaliation

After this was published in "The London Times", the British Government, which was controlled by the London and other European Bankers, moved to support the Confederate South, hoping to defeat Lincoln and the Union, and destroy this government which they said had to be destroyed.

The Czar of Russia sent a portion of the Russian navy to the United States with orders that its admiral would operate under the command of Abraham Lincoln. These ships of the Russian navy then became a threat to the ships of the British navy which had intended to break the blockade and help the South.

The North won the War, and the Union was preserved. America remained as one nation.

Of course, the Bankers were not going to give in that easy, for they were determined to put an end to Lincoln's interest-free, debt-free Greenbacks. He was assassinated by an agent of the Bankers shortly after the War ended.

Thereafter, Congress revoked the Green-back Law and enacted, in its place, the National Banking Act. The national banks were to be privately owned and the national bank notes they issued were to be interest bearing. The Act also provided that the Greenbacks should be retired from circulation as soon as they came back to the Treasury in payment of taxes.

In 1972, the United States Treasury Department was asked to compute the amount of interest that would have been paid if that 400 million dollars would have been borrowed at interest instead of being issued by Abraham Lincoln. They did some computations, and a few weeks later, the United States Treasury Department said the United States Government saved 4 billion dollars in interest because Lincoln had created his own money.

The Federal Reserve Act

[Melvin Sickler, Lincoln, Kennedy]

Here is an excellent summary of the 1938 to 1974 Bank of Canada policy:

[Ms. Betty Krawcayk] :
The Bank of Canada was first established by Prime Minister Richard Bennet in 1935 as a private central bank, but was then nationalized by William Lyon Mackenzie King in 1938. By nationalizing the bank, Mackenzie King meant for it to belong to the people so the Canadian government could borrow funds with little or no interest for capital expenditures. The mandate of the newly nationalized Bank of Canada was to act as the banker to the government and to manage the public debt. As Mackenzie King famously said: “Once a nation parts with the control of their currency and credit, it matters not who makes that nation’s laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognized as its most sacred responsibility, all talk of sovereignty of parliament and of democracy is idle and futile.”

So the Bank of Canada was nationalized in 1938 and the government could now borrow money with little or no interest. And it worked. The Canadian government built freeways, public transportation systems, subway line, airports, the St. Lawrence Seaway and funded a national health care system and the Canada Pension Plan. But then Trudeau, under the influence of the international financial group called Basel’s
Committee’s Recommendations (The Basel Committee on Banking Supervision) made the decision to halt the borrowing of money from the Bank of Canada, and instead, chose to borrow from the private banks who instead of lending to the government at no interest, or low interest, introduced higher interest rates along with compound interest.

All banks know very well the magic of compound interest. And Pierre Trudeau must have known that the mounting compounded national debt would lead to Canadians eventually owing a dollar fifty for every dollar of their disposable incomes. After all, he studied economics at the London School of Economics. Surely the professors there knew about compound interest.

So Pierre Trudeau, instead of feeling blessed that Canada, unlike the US, had a nationalized central bank, signed our bank away to the private banks. Couldn’t Trudeau, such an educated man, surmise that citizens in a few years would be struggling to make car payments and meet rent and mortgages and student loans and to buy healthy food while last year’s profits for the big five (that’s Royal Bank, TD Bank, Scotiabank, Bank of Montreal and CIBC amounted to $31.7 billion?) If he did, he didn’t care. But it doesn’t have to be this way. It really doesn’t. Our Bank of
Canada is still there. Next time." (Ms. Betty Krawczyk)

HOW PIERRE TRUDEAU TURNED US INTO DEBT SLAVES

HOW PIERRE TRUDEAU TURNED US INTO DEBT SLAVES Click on the link above to watch Part 3 of my video series on the Canadian Banking Syste...

bettysearlyedition.blogspot.com

So did we Canadians borrow or steal the idea behind our 1938 to 1974 Bank of Canada policy from President Lincoln's Experiment"

I do believe that we did! Scholars, economists and historians back in the 1800's had a work ethic that makes our brightest minds of today seem rather lethargic in comparison.

 

[Toddsterpatriot]

I have difficulty imagining that the Canadian Fathers of Confederation were entirely unaware of how the President Abraham Lincoln Greenback Monetary Policy Experiment had save USA taxpayers about four BILLION dollars in Interest payments?

The Lincoln Greenback Monetary Experiment took place from 1861 to his death in 1865. The British North America Act formed Canada in 1867. Was the Greenback Monetary Policy Experiment in the minds of the Canadian Fathers of Confederation as they Drafted the British North America Act?

So we move ahead to 1938 and we will see that Canadian political leaders came up with a way of creating Canadian Dollars that did not cause the national debt of Canada to spiral out of control but then we come to 1974 and we have what could be argued to having been one of the most colossal errors by a sitting Prime Minister when Prime Minister Pierre E. Trudeau abandoned an obviously extremely effective Bank of Canada policy.



Here is an excellent summary of the 1938 to 1974 Bank of Canada policy:




So did we Canadians borrow or steal the idea behind our 1938 to 1974 Bank of Canada policy from President Lincoln's Experiment"

I do believe that we did! Scholars, economists and historians back in the 1800's had a work ethic that makes our brightest minds of today seem rather lethargic in comparison.

In 1972, the United States Treasury Department was asked to compute the amount of interest that would have been paid if that 400 million dollars would have been borrowed at interest instead of being issued by Abraham Lincoln. They did some computations, and a few weeks later, the United States Treasury Department said the United States Government saved 4 billion dollars in interest because Lincoln had created his own money.

Never happened. Fake news. Bad math.

 

[DennisPTate]

In 1972, the United States Treasury Department was asked to compute the amount of interest that would have been paid if that 400 million dollars would have been borrowed at interest instead of being issued by Abraham Lincoln. They did some computations, and a few weeks later, the United States Treasury Department said the United States Government saved 4 billion dollars in interest because Lincoln had created his own money.

Never happened. Fake news. Bad math.

You could have a good point. I am no historian and I am basing many of my ideas on one or two major sources of information.


Here is another interesting take on all of this though.

[Alain Pilote] :

First, in order to cast discredit on the Greenbacks, the bankers persuaded Congress to vote, in February of 1862, the “Exception Clause”, which said that the Greenbacks could not be used to pay the interest on the national debt, nor to pay taxes, excises, or import duties. Then, in 1863, having financed the election of enough Senators and Representatives, the bankers got the Congress to revoke the Greenback Law in 1863, and enact in its place the National Banking Act. (Money was then to be issued interest-bearing by privately-owned banks.)

This Act also provided that the Greenbacks should be retired from circulation as soon as they came back to the Treasury in payment of taxes. Lincoln heatedly protested, but his most urgent objective was to win the war and save the Union, which obliged him to put off till after the war the veto he was planning against this Act and the action he was to take against the bankers. Lincoln nevertheless declared:

“I have two great enemies, the Southern army in front of me and the bankers in the rear. And of the two, the bankers are my greatest foe.”

Lincoln was re-elected President in 1864, and he made it quite clear that he would attack the power of the bankers, once the war was over. The war ended on April 9, 1865, but Lincoln was assassinated five days later, on April 14. A tremendous restriction of credit followed, organized by the banks: the currency in circulation in the country, which was, in 1866, $1,907 million, representing $50.46 for each American citizen, had been reduced to $605 million in 1876, representing $14.60 per capita. The result: in ten years, 56,446 business failures, representing a loss of $2 billion. And as if this was not enough, the bankers reduced the per capita currency in circulation to $6.67 in 1887!​

[Alain Pilote, The History of Banking Control in the United States]

Chapter 49 — The History of Banking Control in the United States

This fight of the International Financiers to install their fraudulent debt-money system has been particularly vicious in the United States of America since its very foundation, and historical facts show that several American statesmen were well aware of the dishonest money system the Financiers...

famguardian.org

Surely there are USA history buffs who will know whether this happened or not?

 

[Toddsterpatriot]

You could have a good point. I am no historian and I am basing many of my ideas on one or two major sources of information.


Here is another interesting take on all of this though.





Surely there are USA history buffs who will know whether this happened or not?

“I have two great enemies, the Southern army in front of me and the bankers in the rear. And of the two, the bankers are my greatest foe.”

Lincoln never said this.

Lincoln was re-elected President in 1864, and he made it quite clear that he would attack the power of the bankers, once the war was over.

He didn't.

 

[DennisPTate]

“I have two great enemies, the Southern army in front of me and the bankers in the rear. And of the two, the bankers are my greatest foe.”

Lincoln never said this.

Lincoln was re-elected President in 1864, and he made it quite clear that he would attack the power of the bankers, once the war was over.

He didn't.

I really do appreciate your replies to this challenging and controversial topic but there are many influential people who do not want even historians to know the full truth about what was either proven or at least strongly hinted at by certain events in our history.

There were vastly better ideas on climate change than the Al Gore Carbon Tax but the owners of BigMedia wanted a Carbon Tax due to the level of control that it would give them over ordinary citizens.

The same is true of the national debts of the USA and Canada. The USA and Canadian national debts are significantly a practical joke being played on ordinary people by the wealthiest and most influential billionaires or trillionaires.

The implications of the Lincoln Greenback Monetary Policy Experiment is scary to people who would fit the profile of "Neo-Malthusians."

Neo-Malthusianism is the advocacy of human population planning to ensure resources and environmental integrities for current and future human populations as well as for other species.<a href="Malthusianism - Wikipedia"><span>[</span>2<span>]</span></a> In Britain the term "Malthusian" can also refer more specifically to arguments made in favour of family planning, hence organizations such as the Malthusian League.<a href="Malthusianism - Wikipedia"><span>[</span>8<span>]</span></a> Neo-Malthusians differ from Malthus's theories mainly in their support for the use of birth control. Malthus, a devout Christian, believed that "self-control" (i.e., abstinence) was preferable to artificial birth control. He also worried that the effect of contraceptive use would be too powerful in curbing growth; it was commonly believed in the 18th century (including by Malthus) that a steadily growing population remained a necessary factor in the continuing "progress of society", generally. Modern neo-Malthusians are generally more concerned than Malthus with environmental degradation and catastrophic famine than with poverty.

Malthusianism - Wikipedia

en.wikipedia.org

The owners of BigMedia are significantly members of the "Neo-Malthusian Club" so it is no wonder that they put their money behind theories that are not beneficial to ordinary USA or Canadian citizens.

 

[Cassandro]

In 1972, the United States Treasury Department was asked to compute the amount of interest that would have been paid if that 400 million dollars would have been borrowed at interest instead of being issued by Abraham Lincoln. They did some computations, and a few weeks later, the United States Treasury Department said the United States Government saved 4 billion dollars in interest because Lincoln had created his own money.

Never happened. Fake news. Bad math.

Greenbacks were the first experiment in fiat currency since Continentals were issued during the Revolutionary War. They avoided paying interest at the cost of 70% inflation by the end of the Civil War.

 

[Toddsterpatriot]

I really do appreciate your replies to this challenging and controversial topic but there are many influential people who do not want even historians to know the full truth about what was either proven or at least strongly hinted at by certain events in our history.

There were vastly better ideas on climate change than the Al Gore Carbon Tax but the owners of BigMedia wanted a Carbon Tax due to the level of control that it would give them over ordinary citizens.

The same is true of the national debts of the USA and Canada. The USA and Canadian national debts are significantly a practical joke being played on ordinary people by the wealthiest and most influential billionaires or trillionaires.

The implications of the Lincoln Greenback Monetary Policy Experiment is scary to people who would fit the profile of "Neo-Malthusians."




The owners of BigMedia are significantly members of the "Neo-Malthusian Club" so it is no wonder that they put their money behind theories that are not beneficial to ordinary USA or Canadian citizens.

there are many influential people who do not want even historians to know the full truth about what was either proven or at least strongly hinted at by certain events in our history.

And there are many people who post fake history.
Like some of your sources in this thread.

 

[DennisPTate]

there are many influential people who do not want even historians to know the full truth about what was either proven or at least strongly hinted at by certain events in our history.

And there are many people who post fake history.
Like some of your sources in this thread.

That is true but you and I both have a responsibility to think through the context of what we have read so far and we need to make a judgment call as to who is more likely to be telling the truth. I am doing my best to approach this subject in a logical manner and I believe that powerful people in both Ottawa as well as Washington do not want to admit to the errors that members of their political party or group made in the past.

 

[Toddsterpatriot]

That is true but you and I both have a responsibility to think through the context of what we have read so far and we need to make a judgment call as to who is more likely to be telling the truth. I am doing my best to approach this subject in a logical manner and I believe that powerful people in both Ottawa as well as Washington do not want to admit to the errors that members of their political party or group made in the past.

You need to work through it with sources that don't spread massive lies.

 

[DennisPTate]

You need to work through it with sources that don't spread massive lies.

And so do you!

Compound Interest over time adds up to shocking and scary numbers and influential people do not want the truth put out on the alternatives that actually are there in front of citizens of free nations who have the power to vote.

“It is ludicrous for the government to put billions of dollars into circulation by borrowing from the private banks, when it can create the extra money it needs, virtually free.”


Banks create money
By Harold Chorney, John Hotson and Mario Seccareccia:

 

[Toddsterpatriot]

And so do you!

Compound Interest over time adds up to shocking and scary numbers and influential people do not want the truth put out on the alternatives that actually are there in front of citizens of free nations who have the power to vote.

LOL!

Which sources have I posted in this thread that were lies?

influential people do not want the truth put out on the alternatives

Which influential people don't want the truth about compound interest to be put out? And what alternatives are there to compound interest that they want to hide?

 

[DennisPTate]

LOL!

Which sources have I posted in this thread that were lies?

influential people do not want the truth put out on the alternatives

Which influential people don't want the truth about compound interest to be put out? And what alternatives are there to compound interest that they want to hide?

Please notice the case of the three Canadian economists that I referred to? Why do you think that they worked together on that article that they wrote that I gave above?

I believe it was because they knew that powerful group in Ottawa would have used every dishonest trick in the book to destroy any one of them if they had worked alone.

Do a simple search for those three names together"
Economist Harold Chorney
Economist John Hotson
Economist Mario Seccarrecia
and you will find that they also wrote "The Deficit Made Me Do It."

Elected officials make good use of the national debt as an excuse to do very little except for their millionaire and billionaire supporters.

 

[Toddsterpatriot]

Please notice the case of the three Canadian economists that I referred to? Why do you think that they worked together on that article that they wrote that I gave above?

I believe it was because they knew that powerful group in Ottawa would have used every dishonest trick in the book to destroy any one of them if they had worked alone.

Do a simple search for those three names together"
Economist Harold Chorney
Economist John Hotson
Economist Mario Seccarrecia
and you will find that they also wrote "The Deficit Made Me Do It."

Elected officials make good use of the national debt as an excuse to do very little except for their millionaire and billionaire supporters.

They want to print greenbacks, instead of borrow, like Lincoln?

You think that's a good idea?

 

[DennisPTate]

They want to print greenbacks, instead of borrow, like Lincoln?

You think that's a good idea?

If it is done without putting taxpayers further and further into debt it could be done wisely. If an Unconditional but Taxable Basic Minimum Income Supplement of five hundred dollars per Canadian per month was created through the Bank of Canada after several months this should begin to pay down the deficit first and later on the national debt at the rate of twenty billion dollars per month.

If an Unconditional but Taxable Basic Minimum Income Supplement was created in the USA and distributed to all Americans at the rate of five hundred dollars per month, and financed in a way that did not create compound interest owing by taxpayers, then the USA deficit could be paid down by one hundred and seventy billion dollars monthly once this income supplement is understood by Americans.

So this is five hundred dollars USA or Canadian to all citizens and legal residents, monthly, from cradle to grave, just to begin an Unconditional but Taxable Basic Minimum Income which is assumed to be the only way to prevent a pandemic of homelessness and poverty as robotics and Artificial Intelligence make many jobs obsolete over the coming decade or two.

I think that Mo Gawdat is correct that only a B. M. I. will work against what is coming.

"Ex-Google Exec (WARNING): The Next 15 Years Will Be Hell Before We Get To Heaven! - Mo Gawdat"

2,997,802 views Aug 4, 2025
Mo Gawdat sounded the alarm on AI, and now he’s back with an even bigger warning: AI will cause global collapse, destroy jobs, and launch us into a 15-year dystopia that will change everything. Mo Gawdat is back!

Mo Gawdat is the former Chief Business Officer at Google X and one of the world’s leading voices on AI, happiness, and the future of humanity. In 2017, he launched ‘One Billion Happy’, a global campaign to teach 1 billion people how to become happier using science and emotional tools. He is also the bestselling author of books such as, ‘Scary Smart, Solve for Happy’.

He explains:

Why we need to start preparing today for AI
How all jobs will be gone by 2037
Why we must replace world leaders with AI
How AI will destroy capitalism
The one belief system that could save humanity from dystopia

 

[Toddsterpatriot]

If it is done without putting taxpayers further and further into debt it could be done wisely. If an Unconditional but Taxable Basic Minimum Income Supplement of five hundred dollars per Canadian per month was created through the Bank of Canada after several months this should begin to pay down the deficit first and later on the national debt at the rate of twenty billion dollars per month.

If an Unconditional but Taxable Basic Minimum Income Supplement was created in the USA and distributed to all Americans at the rate of five hundred dollars per month, and financed in a way that did not create compound interest owing by taxpayers, then the USA deficit could be paid down by one hundred and seventy billion dollars monthly once this income supplement is understood by Americans.

So this is five hundred dollars USA or Canadian to all citizens and legal residents, monthly, from cradle to grave, just to begin an Unconditional but Taxable Basic Minimum Income which is assumed to be the only way to prevent a pandemic of homelessness and poverty as robotics and Artificial Intelligence make many jobs obsolete over the coming decade or two.

I think that Mo Gawdat is correct that only a B. M. I. will work against what is coming.

If it is done without putting taxpayers further and further into debt it could be done wisely.

Was it done wisely by Lincoln?

If an Unconditional but Taxable Basic Minimum Income Supplement of five hundred dollars per Canadian per month was created through the Bank of Canada after several months this should begin to pay down the deficit first and later on the national debt at the rate of twenty billion dollars per month.

How is a handout going to pay down the deficit and the debt?

 

[Toddsterpatriot]

Please notice the case of the three Canadian economists that I referred to? Why do you think that they worked together on that article that they wrote that I gave above?

I believe it was because they knew that powerful group in Ottawa would have used every dishonest trick in the book to destroy any one of them if they had worked alone.

Do a simple search for those three names together"
Economist Harold Chorney
Economist John Hotson
Economist Mario Seccarrecia
and you will find that they also wrote "The Deficit Made Me Do It."

Elected officials make good use of the national debt as an excuse to do very little except for their millionaire and billionaire supporters.

“It can't be stressed too much that the private banks, unlike non-bank lenders, create the money they lend. They do not — as is so widely imagined, even by the bankers themselves — lend their depositors' money. The amount of new money created by a bank loan, however, is only sufficient to pay back the principal. No money is created to pay the interest, except that which is paid to the holders of bank deposits. That's why debts must continually grow faster and faster in order for each layer of additional debt and interest to be paid.

You think banks can loan money out of thin air?
No need for deposits?

 

[DennisPTate]

If it is done without putting taxpayers further and further into debt it could be done wisely.

Was it done wisely by Lincoln?

If an Unconditional but Taxable Basic Minimum Income Supplement of five hundred dollars per Canadian per month was created through the Bank of Canada after several months this should begin to pay down the deficit first and later on the national debt at the rate of twenty billion dollars per month.

How is a handout going to pay down the deficit and the debt?

Lincoln did it wisely in comparison to accepting the offer from the BigBanks of the time that was at twenty four to thirty six percent interest on the loan to wage the Civil War. The Civil War needed to be won so I would define that as "wise."

Putting five hundred dollars per month into the economy for all Americans and all Canadians will be taxed back into the government after it turns over in the economy three to four times.

[Melvin Sickler, Lincoln, Kennedy] :
John F. Kennedy



No United States president since Abraham Lincoln dared to go against the system and create his own money, as many of these so-called elected presidents were actually only instruments or puppets of the Bankers. That is until President John F. Kennedy came into office.
On June 4th, 1963, President Kennedy signed a presidential document, called Exec-utive Order 11110, which further amended Executive Order 10289 of September 19th, 1951. This gave Kennedy, as President of the United States, legal clearance to create his own money to run the country, money that would belong to the people, an Interest and debt-free money. He had printed United States Notes, completely ignoring the Federal Reserve Notes from the private banks of the Federal Reserve.

Our records show that Kennedy issued $4,292,893,825 of cash money. It was obvious that Kennedy was out to under-mine the Federal Reserve System of the United States.

But it was only a few months later, In November of 1963, that the world received the shocking news of President Kennedy's assassination. President Kennedy must have had It in mind to repeal the Federal Reserve Act of 1913, and return back to the United States Congress the power to create its own money.

It is interesting to note that, only one day after Kennedy's assassination, all the United States notes, which Kennedy had issued, were called out of circulation. Was this through an executive order of the newly installed president, Lyndon B. Johnson? Was President Johnson afraid of the Bankers? Or was he one of their instruments? At any rate, all of the money President Kennedy had created was destroyed. And not a word was said to the American people.

A lesson to learn

There is much that can be learned from our past history. Here we are in 2003, and the United States is still operating under the Federal Reserve System. It has already plunged this country over six trillion dollars into debt -- Federal debt, (the total debt, including that of individuals and corporations, is over 20 trillion) a debt it will never be able to pay, and has been responsible for every kind corruption imaginable. Yet, barely a peep of protest can be heard from the American people.

The population at large must be educated on the Federal Reserve, and then unite together to put pressure on the Government to get the Federal Reserve Act of 1913 repealed. Otherwise, it will spell disaster for the United States.

Abraham Lincoln and John F. Kennedy both had the courage to stand up for principles and to fight for justice. They have both gone down in history as being true patriots of the United States. But do we, as citizens, have the courage to follow their example?

Melvin Sickler

Abraham Lincoln & John F.K assassination

Abraham Lincoln and John F. Kennedy Two great presidents of the United States Assassinated for the cause of justice

www.cidpusa.org

 

[Toddsterpatriot]

Lincoln did it wisely in comparison to accepting the offer from the BigBanks of the time that was at twenty four to thirty six percent interest on the loan to wage the Civil War. The Civil War needed to be won so I would define that as "wise."

Putting five hundred dollars per month into the economy for all Americans and all Canadians will be taxed back into the government after it turns over in the economy three to four times.

Lincoln did it wisely in comparison to accepting the offer from the BigBanks of the time that was at twenty four to thirty six percent interest on the loan to wage the Civil War. The Civil War needed to be won so I would define that as "wise."

And what was the inflation caused after all those greenbacks were printed?
Did you ever find out who did the stupid calculation for the $4 billion of savings?
Because that was some truly awful math.

Putting five hundred dollars per month into the economy for all Americans and all Canadians will be taxed back into the government after it turns over in the economy three to four times.

Printing $500 will increase tax revenues enough to pay off the deficit?

 

[Toddsterpatriot]

Lincoln did it wisely in comparison to accepting the offer from the BigBanks of the time that was at twenty four to thirty six percent interest on the loan to wage the Civil War. The Civil War needed to be won so I would define that as "wise."

Putting five hundred dollars per month into the economy for all Americans and all Canadians will be taxed back into the government after it turns over in the economy three to four times.

Exec-utive Order 11110, which further amended Executive Order 10289 of September 19th, 1951. This gave Kennedy, as President of the United States, legal clearance to create his own money to run the country, money that would belong to the people, an Interest and debt-free money. He had printed United States Notes, completely ignoring the Federal Reserve Notes from the private banks of the Federal Reserve.

Actually, he gave the Fed authorization to print $1s and $5s and eliminated silver certificates.

It is interesting to note that, only one day after Kennedy's assassination, all the United States notes, which Kennedy had issued, were called out of circulation.

Damn. Another thing that didn't happen. US Notes were printed until 1971.

 

[DennisPTate]

Lincoln did it wisely in comparison to accepting the offer from the BigBanks of the time that was at twenty four to thirty six percent interest on the loan to wage the Civil War. The Civil War needed to be won so I would define that as "wise."

And what was the inflation caused after all those greenbacks were printed?
Did you ever find out who did the stupid calculation for the $4 billion of savings?
Because that was some truly awful math.

Putting five hundred dollars per month into the economy for all Americans and all Canadians will be taxed back into the government after it turns over in the economy three to four times.

Printing $500 will increase tax revenues enough to pay off the deficit?

True, inflation was high which was almost impossible to avoid when you decrease productivity of consumer good by taking your most productive worker off of farms and the types of factories that existed at that time, and pass them muzzle loaders and cannons to fight in the Civil War.

A mere five hundred dollars per month for each citizen and legal resident in both Canada and the USA would prove that this is possible. It would set a precedent and Economist Milton Friedman Ph. D. had the right idea because he wanted it to be equal to all citizens and legal residents so that the amount of bureaucracy could be minimized.

The Welfare Bureaucracy is costly in so many ways but an "Unconditional but Taxable Basic Minimum Income" frees people up who were stuck with the Welfare Bureaucracy and gives them an incentive to work. The productivity of USA workers is what makes the USA dollar valuable. The productivity of Canadian workers makes the value of the Canadian dollar valuable.