Who is Merrill Jenkins?

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onealpha
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Who is Merrill Jenkins?

If you have not read his stuff, look up Merrill Jenkins. I will provide some links below.

I started my journey like many of you during the 2008 meltdown. That singular event literally woke me up from my normalcy bias and I began to quench my thirst for truth about what the heck was happening. I could no longer accept that 40% of the information I heard from Washington DC and the Media was true. I assumed it was all BS. I needed to learn and understand our monetary history. Like many of you I started reading everything I could find online. The pumpers and the preachers were mixed in with so many good men and women who saw our future many generations ago.

The first book I purchased was The Creature from Jekyll Island by G Edward Griffin. This was literally my Red Pill. Every day I read this I could not believe it was written twenty years ago and it was buried in the dust of history. How I wished I had read this twenty years prior. I read this book along with so many other and with each step I become more aware as my eyes open wider.

So a few weeks ago I saw a post of an old TV interview with Merrill Jenkins and a Federal Reserve guy on youtube from the 1970's. I think I posted it here on Main Street. Anyhow, I was so impressed with this guy that I had to find a copy of his book. I did find a copy of his first book on Amazon for $50 and ordered it. Since then I have found copies of his other books that someone has posted in html format online. Mr Jenkins is no longer with us as he passed in 1979, but his words are prophetic. I can not believe that I have never heard of him before. His books are not easy to find but this guy was so far ahead of the curve that it shocks me that I have not heard him mentioned before. He predates G Edwards work by 20 years and he wrote his book when we were going full Fiat. His words sound like they were written today except he was talking about future events that we are just now starting to verbalize today in the same language. 

Here is an exerpt from one of his books, Treadmill to Oblivion

"The paper tokens are reduced in QUANTITY by rubber­stamping 'one cent' on a "ten "dollar" "bill." Metal tokens are punched or distorted to change their volume parity with new issues. The collapse of the "money" this time will not be in the usual manner as just described, because this time it is not a single currency' or one nation that is about to suffer monetary collapse. This time the whole world is involved and the banking system of the world will collapse. The world "currencies" were tied together in 1944 at Bretton Woods with the formation of the International Monetary Fund (I.M.F.). The U.S. "dollar" was accepted as a "reserve" "currency" ("constant" unit reference for all other "currency" parities) and the coming total collapse of the "dollar" will effect all other currencies. This explains the 'support' of the "dollar" all around the world. Every nation is supporting the "dollar" at a tremendous cost to their own monetary well­being in order to postpone the total collapse of the world wide monetary system. The other nations create massive amounts of their "money" to buy "dollars" to POSTPONE its collapse, when it should be observed that the collapse IS COMING because the volume of "money" is too great. Why then do they increase the volume when it is the volume increasing that is causing the inevitable downfall of the "money" system? Is there conflict?"

Here is the video that started me,

Edited by admin on 11/08/2014 - 06:27
onealpha
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The only book which can not

The only book which can not be read for free right now online is his first, MONEY: The Greatest Hoax on Earth.  I did find a seller on Amazon and it goes for $50 right now.  However, you can find all his other writings viewable on this website

http://home.earthlink.net/~cadman777/money_stuff.htm 

I would start there before shelling out the cash as I did.  I think he covers a lot of the same material over in his newer books.

I would love to find more stuff from him if anyone has anything please post it.  Thanks

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What interests me most about

What interests me most about the mans writing is his perspective.  Here is a man who realized early on what our government was doing and he is coming to terms with the the big lie and the injustice of it.  I sense a bit of disbelief as we all feel every day. We have become so conditioned to our cage that our disbelief is one that no one else realizes we are in a cage.  His disbelief is from a man who loves his constitution, his freedom, and his country.  He is watching the walls being built around him and no one sees it but him.  He solved the mystery but no one else can see it.  It is not always easy to read, but it was written for us to read and to learn. 

This was taken from page 86~94 of  Everything I Have Was TheIR$
Merrill M.E. Jenkins Sr., M.R.

The False premise:

"That 'money' does not have to be worth anything to function as money."

The reasonable and logical superstructure:

"Each one of us must work to get 'dollars' therefore we expect everyone else to work to get 'dollars' from us."

The Fallacy:

"The people accept the Fed. "Notes" as being the 'money'. Fed. 'Notes' are printed 24 hours a day, 7 days a week. The Fed. "Notes" are used to acquire the paper, ink and labor required to produce them.

THE PRINTER AND ISSUER GET EVERYTHING FOR NOTHING!

ONLY THE NON-BANK PUBLIC MUST WORK FOR EVERYTHING!

If paper had to be 100% redeemable NO-ONE could get everything for nothing."

The word 'money' in all Instances above is used as the public accepts it, as a medium of exchange. The text before that brings out, that what we have been calling 'money', are the paper tokens that represent an imagined, non-specified, medium of exchange. It is obvious that a quantity specification cannot be a material thing, therefore all the tokens could represent is DEBT ITSELF! And that is a truth --- STRANGER THAN FICTION!

In the United States the Federal Reserve "Notes" we call 'money' are paper tokens representing DEBT as a medium of exchange and the system is called: "THE MONETIZATION OF DEBT."

"I doubt that monetization of debt has been a conscious act on the part of the Government or on the part of the federal Reserve System . . . I can find no benefits accruing to the whole of society from debt monetization, but the risks are very serious and can be expressed in one word -- INFLATION,"

Statement by Darryl R. Francis Former President of the Federal Reserve Bank of St. Louis, Mo. before the Committee of Banking & Currency, in the House of Representatives in Washington , D. C, on July 18, 1974.

The Federal Reserve System, as the monetary authority of the United States, has the only OPEN ENDED checking account in the United States. Even the U.S. Treasury must borrow from the PRIVATE FEDERAL RESERVE BANKS! The Treasury DELIVERS the Federal Reserve "Notes" to the PRIVATE FEDERAL RESERVE BANKS for distribution, as tokens to represent the "monetized" BORROWER'S DEBT and to function as 'money' for the non-bank public.

All the expenses of paper, ink, and labor are "paid" for with the tokens. There is nothing on deposit that can be claimed in exchange. The tokens do not specify that they are a claim on anything. It is an assumption on the part of the non-bank public. The terrible consequences is that as time passes the tokens accumulate. There isn't any way to diminish the ever accelerating quantity of tokens being issued. Without some thing to redeem (which would retire the token) their quantity cannot be reduced and they are bid In ever larger quantities per unit of goods.

The tokens "depreciate", "prices rising", until the drain on production, the tokens facilitate, leaves too little for the actual producers of goods to share.

"The gains which accrue to issuers of money are derived from the difference between the costs of issuing money and the initial purchasing power of new money in circulation. Such gains are called "seigniorage." If the goods and services for which the issuer exchanges money have a market value greater than that of resources used to produce the money, then the issuer receives a net gain."

Fed. Res. Bank. of St. Louis, Review February 1975 p 15.

THE LAST TWO WORDS OF THE ABOVE QUOTE ARE A PREEMINENT PEARL OF UNDERSTATEMENT, FOR THE NET GAIN IS AT ALL TIMES 100% TO THE ISSUERS;

THIS LEAVES A TOTAL OF ZERO GAIN FOR THE PRODUCERS UPON WHICH TO LEVY AN "INCOME" 'TAX'! HOW?

The issuers "pay" all "costs" with the tokens created, and since the tokens cannot redeem anything, then they are worth nothing, and everything anyone gives for them is a 100% gain to the issuer. This leaves nothing for the producer upon which to place a tax! When a token is worth nothing, the SEIGNIORAGE is 100%. The present copper-nickel "coinage" is only 3% worth by the Coinage Act of 1965 which allowed a seigniorage of 97%. But the 3% worth, copper-nickel token coinage was "PAID" for with "MONETIZED DEBT", tokens which made the 'cost' of them to the issuer: ZERO!

The embezzlement of production FROM those who produce, to those who DO NOT produce, but ISSUE "money", will continue until the embezzlement of production leaves too little for the producer, and the non-bank public begins to starve. The non-bank public will resort to barter and the monetized debt system, with its Fed. "Notes" will collapse.

Since the duped producers accept Fed. "Notes" as 'money', and the Fed. "Notes" are printed by Government in violation of United States Law:

"Since the direct method of printing money to finance Government expenditures is prohibited in the U.S., the monetization of Government deficits has occured indirectly,"

Fed. Res. Bank of St. Louis, August 1974 p. 5,

the government should only print enough for the public to pay its taxes with. That would be all they are entitled to. If they print more than they have coming in taxes, that would be COUNTERFEITING, would it not? The government could not spend MORE than they print, but they could PRINT AND SPEND more than they have coming in taxes. That must be what they call 'DEFICIT SPENDING'.

The non-bank public has to offer production or perform a service to obtain currency. That is why the system "works" because everyone has to work to obtain "dollars", therefore they expect everyone else to work to obtain "dollars", except Government, which has the right to tax the public.

SINCE GOVERNMENT IS OBTAINING EVERYTHING IT WANTS FOR NOTHING THROUGH INDIRECT VIOLATION OF LAW, WHY DOES IT ADD INSULT TO INJURY BY TAXING THE PEOPLE?

Presumably government uses the currency it takes in taxes to spend for the goods and services it requires to operate. Presumably the public uses the currency it does receive with which to pay the taxes. WHY DOES government have to print so much, all the time? Some is needed to replace old and worn currency. Some is needed to accommodate expansion.

BUT THE PRODIGIOUS AMOUNTS BEING PRINTED CANNOT BE FOR JUST THOSE TWO REASONS.

Why does the government print so much currency? What do they do with it when they are finished printing it? If they print it and have it why don't they spend it into circulation or is that what is done? If they spend it into circulation and print such prodigious amounts of it, why does the government have to borrow?

We know the government prints it. We know the people have to work to get it. HOW DO THE BANKS GET IT TO LOAN TO THE PEOPLE AND GOVERNMENT?

If the banks get it from the government why does the government have to pay interest to the banks when they borrow it back? Why do they have to borrow it back when they had it in the first place, why didn't they just use it? If they just use it, that would be unfair, if what they used exceeded what they had coming in taxes. However, they are printing prodigious amounts of it. What is being done with it? Who gets it and for what?

In the old days, before this MODERN money, the printed currency was all silver and gold certificates. There was silver or gold on deposit that could be redeemed with the certificates and surrendering the certificate took it out of circulation.

Gold and silver coin had to be on deposit for redemption of the certificate outstanding. Government could not print more certificates than there was gold and silver on deposit to be redeemed. We knew exactly who got the certificates printed by the government. Whoever deposited gold and/or silver coin got gold and/or silver certificates as receipts of the deposit.

WHO DEPOSITS WHAT, TO GET THE MODERN "MONEY"?

Government printed a modest amount of currency to replace old worn out currency, and some additional to cover new deposits of gold and/or silver, but never the prodigious amounts as now.

WHAT IS INCREASING AT SUCH PRODIGIOUS RATES THAT IT CAN JUSTIFY THIS ACCELERATING ACCELERATION OF THE CURRENCY VOLUME? IT IS NOT GOLD AND IT IS NOT SILVER --- WHAT IS IT?

Government printing such huge volumes of "money", far exceeding any claim on taxes, MUST BE PRINTING IT TO REPRESENT SOMETHING. The currency being printed does not have anything ON DEPOSIT to REPRESENT! The currency cannot ever be removed from circulation in the old way -- by redeeming a deposit -- THERE ISN'T ANY DEPOSIT TO REDEEM!

IT MUST REPRESENT SOMETHING THAT IS GROWING AT THE SAME PRODIGIOUS RATE AS THE MONEY VOLUME. SOMETHING THAT CANNOT BE DEPOSITED AND YET ESTABLISHES A LINK BETWEEN THE PRINTING OF CURRENCY AND WHO GETS IT TO SPEND!

WHEN I FINALLY DISCOVERED THE TRUTH, IT ASTOUNDED ME.

"One reason why economists are in such disrepute is that they have pretended to understand inflation and to know how to control it, when obviously we do not."

Wassily Leontieff, Nobel-Prize winning economist
New York Times January 30, 1977 p. 3.

"The rules of economics don' t seem to work like they are supposed to,"

Arthur F· Burns, Chairman of the Federal Reserve Board
New York Times January 30. 1977 p. 3.

No wonder our trained and learned Nobel-Prize winning economists could not discover it. Their minds could never conceive that a condition like this could develop. The answer is accurate but thoroughly unbelievable.

The only thing growing at the same prodigious rate at which currency is being printed is DEBT. The currency is being printed to represent DEBT. When a borrower accepts the liability of a loan he receives money. The DEEPER IN DEBT he goes THE MORE MONEY HE RECEIVES. The currency looks the same as the old gold and/or silver certificates that were issued when gold and/or silver was deposited. The new Federal Reserve "Notes" are paper and are issued, not upon deposits being made, but upon loans being made. Currency for which there is nothing on deposit cannot represent anything except THE BORROWERS DEBT, therefore anyone accepting a liability is entitled to the currency representing their debt. The quantity of currency received is commensurate with the volume of their loan.

No self-respecting economist could possibly accept a concept that "boils-down" to: THE DEEPER IN DEBT YOU GO THE RICHER YOU BECOME!

IT IS TOO FANTASTIC AND UNBELIEVABLE, BUT THE EVIDENCE OF ITS BEING IS IRREFUTABLE. THE DEBT VOLUME AND MONEY VOLUME ARE BOTH GROWING AT PRODIGIOUS AND RESPECTIVE AMOUNTS.

The very fact that currency can be spent, and the currency is given to those going into debt, gives the system its name. The Modern Money system is called the MONETIZATION OF DEBT.

Making DEBT 'SPENDABLE' is quite an invention, and it is in FULL OPERATION, THOUGH HOW TO JUSTIFY IT, DEFIES ME!

There is proof that some recognition of this condition does exist.

"Expansion of Central Bank holdings of Government debt provides the Treasury with funds just as certainly as increased output of its engraving and printing facilities."

Fed. Res. Bank of St. Louis Review February 1975 p 17.

Debt is "spendable", but the currency issued to represent it and make it "spendable", is not 'collectable' from the issuer. The issuers of the currency are not producers of goods. The issuers can never be called upon to give up anything for currency. The debt represented by the currency is used by its issuer to obtain production without any fear of ever having to 'pay' for it. The issuers of currency get everything it "buys" for nothing. The producers never become aware of their loss because they never suspect the truth.

THE PRODUCERS ALL EXCHANGE THE CURRENCY WITH ONE ANOTHER GIVING AND RECEIVING IN TURN, USING THE CURRENCY AS A MEDIUM OF EXCHANGE. IT NEVER OCCURS TO THE PRODUCERS THAT THE ISSUERS GET THE CURRENCY FOR NOTHING AND WILL NOT GIVE ANYTHING FOR IT.

How could any self-respecting economists admit to being a part of a system like that if he truly understood it? There is a possible touch of remorse in the words of Darryl R. Francis then President of the Federal Reserve Bank of St. Louis before the Committee on Banking and Currency, House of Representatives, July 18, 1974:

"I doubt that monetization of debt has a been conscious act on the part of the Government or on the part of the Federal Reserve System. Rather, I believe the reason it has occurred lies in the relative visibility of the three methods of financing Government expenditures- -taxes, borrowing from the public, and indirect debt monetization . . . . in the case of debt monetization, the immediate and even the short-run impact is neither an increase in taxes, nor an increase in interest rates. And yet, real resources still are being transferred from private to government use."

The above quote points out that through DEBT MONETIZATION it is possible to steal without being found out. Stealing is what debt monetization really is when it is analyzed from any objective viewpoint. How can an economist trained in these matters be around it for so long without seeing a truth so obvious?

With currency being printed in such prodigious quantities, how come they do not ask themselves who is getting it? For what? Why?

FOR WHAT? WHY? --- FOR WHAT? WHY? --- FOR WHAT? WHY?

THOUSANDS OF ECONOMISTS WORLD WIDE AND NO ONE CAN SEE THIS IS STEALING? I AM AMAZED AND FULL OF WONDERMENT AT A PROFESSION THAT FLOUNDERS AROUND TRYING TO OUTGUESS ONE ANOTHER AS TO WHAT IS WRONG, WHY RULES OF ECONOMICS DO NOT SEEM TO WORK LIKE THEY ARE SUPPOSED TO. IT ONLY TOOK A FEW PAGES HERE TO REASON OUT THAT NO AMOUNT OF DEBT CAN ELIMINATE DEBT. ANY MULTI-YEAR EXCURSION INTO THE REALM OF FANTASY AND NONSENSE MUST END IN DISASTER.

There are only two conclusions I can come to: Either the entire economist membership is totally incompetent, or they are united in their efforts to prevent the panic that will surety come when the non-bank public finds out.

In the words of Jacques Rueff 1961:

"It is the product of a prodigious collective error which will remain in history and will eventually be recognized as an object of astonishment and scandal."

The error was in ever believing it would not be found out. Stealing is stealing, no matter what cloak of respectability is applied. "Relative visibility" (Darryl R. Francis quote above) is an innocent sounding phrase, but in this case what is being HIDDEN is THEFT. Theft of not only wealth and labor, but the means of communicating intelligence itself, our LANGUAGE.

Borrowing from Peter to pay Paul was always considered improper, but now we accept it with the title: DEBT RESTRUCTURING.

In the thirties when the con-man Ponsi paid previous investors profit from the funds of current investors in a financial pyramid scheme, it was recognized and considered fraud, but now we accept it when the United States Treasury 'rolls-over' TREASURY BILLS.

ROBIN HOOD practiced the return to taxpayers of some of the taxes collected from them in a pseudo REDISTRIBUTION OF WEALTH. He was an outlaw, but today we accept the same activity from government under the new title: REVENUE SHARING.

BRIBERY is a criminal offense, but dressed-up in a new title: LOBBYING -- it has become respectable.

The CON-MAN'S most nasty scam of offering "SOMETHING FOR NOTHING" on a show of 'good faith' is the PIGEON DROP, but we must accept it today, from government, with its new title: MATCHING FUNDS.

Chicago and New York were big victims, at one time, of an EXTORTION RACKET that robbed the public of part of their earnings; today we complain, but continue to be coerced into "paying" it under its new title: INCOME TAX.

A MUGGING, where an individual losses part of his personal property is a crime, but not if it is legally sanctioned, by government, as PERSONAL PROPERTY TAX.

All of the above has come about because of a gradual economy-destroying change that has been inflicted upon our monetary system. We had a system using certificates of ownership of private property as mediums of exchange. We are now using a system consisting entirely of "bankers' credit" with the title: 'Monetization of debt'. Monetizing borrower's debt (using debt as "money") makes some queer things appear practical.

It used to be a fact that it was impossible to eliminate debt by borrowing, but now under the new system, borrowing creates debt and debt is "money," so the more we borrow the richer we become, but the massive total debt keeps increasing. The economy is failing and the economists tell us the old economic laws are no longer working the way they used to! Perhaps it is time the American people were brought face to face with a reality. A monetary system has been sanctioned that is about to shock the world. The economy destroying change has come about so gradually that it comes as a shock, when we are forced to recognize the true nature of our newly accepted monetary principles:

BORROWING ONE'S SELF OUT OF DEBT = DEBT RESTRUCTURING

PONSI GAME PYRAMIDING -------------------- = TREASURY BILL ROLL-OVER

ROBIN HOODERY --------------------------------- = REVENUE SHARING

BRIBERY ------------------------------------------------------- = LOBBYING

PIGEON DROP -------------------------------------------- = MATCHING FUNDS

EXTORTION -------------------------------------------------- = INCOME TAX

LEGAL MUGGING ------------------------------------------ = PERSONAL PROPERTY TAX

Without a medium of exchange based on private property, the world is using a system of monetized debt; but the monetization of debt makes it impossible to pay-off a debt. Borrowing to get out of debt is impossible! Interest is intangible and cannot be paid because you cannot return more than you borrow from an only source. Appointment of a Monetary Authority makes slaves out of all who must accept its 'money'. The primary function of 'money' (monetized debt) is the expropriation of private property and labor. Only those who know the rules can play the game to win.

From Page 96

WEALTH IS PRIVATE PROPERTY, PRODUCED BY HUMAN EXERTION, HAVING EXCHANGE VALUE!

Governments do not produce wealth and must rely on the people who create wealth to support the operations of government. Government must obtain its wealth from the people before it can distribute that wealth in payment for the services it contracts for.

It is exactly HOW government acquires the wealth of the people that determines whether or not they have GOOD government. If government is GOOD, responsive to the WILL OF THE PEOPLE, the people pay for the services of government at its cost, and do so willingly and sincerely.

The united States Constitution stipulates that the cost of government is to be paid by the citizens on an equal basis by the numbers, everyone paying his uniform, equal share. IF this law were maintained, it could truthfully be said that "government rests on the consent of the governed."

Today in the United States the people and their government are influenced by an INVISIBLE FORCE that RULES like the RULERS of old. The exact method by which this is accomplished has already been explained (money-credit-inflation-monetized debt). The conclusions are inescapable; the explanation is not difficult, but understanding must be desired to be acquired.

Government cannot rule with wealth, because government does not produce wealth. People can rule with wealth, because people do produce wealth. But people can only rule with wealth, IF they RETAIN the ownership and right of distribution of their wealth. If people provide the wealth to government willingly and sincerely, then government policies are directed by the people, because if government did not follow the will of the people they would withdraw their support.

IF GOVERNMENT IS TO RULE THE PEOPLE IT MUST ACQUIRE THE PEOPLE'SWEALTH BY SOME OTHER MEANS. If government takes the people's wealth by force, it runs the risk of revolt. GOVERNMENT MUST FIND SOME HIDDEN MEANS TO ACQUIRE THE PEOPLE'S WEALTH WITHOUT THE PEOPLE BECOMING AWARE!

If government can acquire the wealth of its people by invisible means, then it can do as it pleases, and the people's willing and sincere support will not be required. This is exactly how we have come to be a nation of citizens ruled by a bureaucratic government, the control of which no longer rests in the hands of the people. We lost control of our government when we lost the right of PRIVATE PROPERTY (the right to distribute our own earned wealth in our own way).

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