henrymakow.com – Nov 27, 2018

In a New York Times interview Dec. 6, 1921, Thomas Edison advocated financing the proposed Muscles Shoals Dam by issuing currency instead of debt (bonds.) They are identical promises to pay, but currency does not incur debt or  interest. Thus Edison exposed the whole central banking fraud which holds humanity in bondage.

Politicians, corporations, professors all shill for the central banking cartel which produces the medium of exchange (currency, credit) as a debt to itself.  

(Governments are perfectly capable of doing this debt-and-interest-free.) The bankers must enslave humanity in a world police state (globalism) in order to protect this racket.

“On the point of Mr. [Henry] Ford’s suggestion to the Government for financing the completion of the dam, Mr. Edison reiterated his belief … that it was a good plan and that if only the currency method is tried in raising money for public improvements, the country will never go back to the bond method.

Now, as to paper money, so-called, everyone knows that paper money is the money of civilized people. The higher you go in civilization the less actual money you see. It is all bills and checks. What are bills and checks? Mere promises and orders. What are they based on? Principally on two sources – human energy and the productive earth. Humanity and the soil – they are the only real basis of money.

“… There is just one rule for money, and that is, to have enough to carry all the legitimate trade that is waiting to move. Too little or too much are both bad. But enough to move trade, enough to prevent stagnation on the one hand and not enough to permit speculation on the other hand, is the proper ratio.

“Then you see no difference between currency and Government bonds?” Mr Edison was asked.

“Yes, there is a difference but it is neither the likeness nor the difference that will determine the matter; the attack will be directed against thinking of bonds and currency together and comparing them. If people ever get to thinking of bonds and bills at the same time, the game is up.

“Now, here is [Henry] Ford proposing to finance Muscle Shoals by an issue of currency. Very well, let us suppose for a moment that Congress follows his proposal. Personally, I don’t think Congress has imagination enough to do it, but let us suppose that it does. The required sum is authorized – say $30,000,000. The bills are issued directly by the Government, as all money ought to be.  When the workmen are paid off they receive these United States bills. When the material is bought it is paid in these United States bills. Except that perhaps the bills may have an engraving of a water dam, instead of a railroad train and ship, as some of the Federal Reserve notes have. They will be the same as any other currency put out by the Government: that is, they will be money. They will be based on public wealth already in Muscle Shoals, and their circulation will increase that public wealth, not only the public money but also the public wealth – real wealth.

“When these bills have answered the purpose of building and completing Muscle Shoals, they will be retired by the earnings of the power dam. That is, the people of the United States will have all that they put into Muscle Shoals and all that they take out for centuries – the endless wealth-making water power of that great Tennessee River – with no tax and no increase of the national debt.” [Emphasis added – Tony B.]

“But suppose Congress does not see this, what then?” Mr. Edison was asked.

“Well, Congress must fall back on the old way of doing business. It must authorize an issue of bonds. That is, it must go out to the money brokers and borrow enough of our own national currency to complete great national resources, and we then must pay interest to the money brokers for the use of our own money.

Old Way Adds to Public Debt

Continues …