09/08/2026
MONETARY HISTORY CALENDAR
September 6 - 12
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SEPTEMBER 6
1877 – NEW YORK TIMES ARTICLE ANNOUNCING FORMATION OF FARMER'S ALLIANCE IN LAMPASES, TX
Farmers in the West and South organized to collectively sell their produce, educate one another on economic and political issues and take political action. Among the central issues explored by Alliances and the later Populist Party were the issues of banking and money creation. They supported the creation of postal savings banks. The Northern Alliance of farmers favored overwhelmingly reinstating government issuance of money (i.e. the Greenback during the Lincoln administration) while the Southern Alliance supported the creation of a “sub-treasury” in which the government would create an “elastic” money supply that would stretch to meet emergencies and contract again when the need passed. It could be founded on a commodity possessed by every farmer – grain. The money supply would expand or contract depending on the harvest, but would circulate just like any money.
1943 – DEATH OF RICHARD MCKENNA, FORMER PRESIDENT, MIDLANDS BANK OF ENGLAND
"I am afraid that the ordinary citizen will not like to be told that the banks can and do create and destroy money. And they who control the credit of a nation direct the policy of governments, and hold in the hollow of their hands the destiny of the people." (From a 1924 speech)
1951 – BIRTH OF WILLIAM BLACK, AMERICAN LAWYER, ACADEMIC, AUTHOR AND FORMER BANK REGULATOR
“The best way to rob a bank is to own one.”
SEPTEMBER 7
1867 – BIRTH OF JP MORGAN, JR, BANKER
Morgan was instrumental in providing financing to several nations during World War I, including loans and other financial support to France, England and Russia. Accusations were made that this financial commitment led him to influence the Wilson Administration to enter the war.
2006 – STATEMENT OF NOURIEL ROUBINI, US ECONOMIST
Roubini warns the International Monetary Fund about a coming US housing crash, failures of mortgage-backed securities failures, bank failures, and a major recession. His work was based partly on his study of recent economic crises in Russia (1998), Argentina (2000), Mexico (1994), and Asia (1997). His warnings proved to be correct.
2013 – DEATH OF ALBERT BARTLETT, EMERITUS PROFESSOR OF PHYSICS AT THE UNIVERSITY OF COLORADO AT BOULDER
"The greatest shortcoming of the human race is our inability to understand the exponential function.” [Note: Exponential growth requires exponential resources – which are finite. If we have no energy, we have no economy. Also, exponential growth is mandatory under a debt-based money system since exponential natural resources must absolutely be plundered to produce endless stuff to sell to pay off the endless compounding/exponential interest connected to the endless debt. Multiple crashes are inevitable.]
2021 – “THE ‘MAGIC’ OF COMPOUND INTEREST IS ACTUALLY JUST WAGE-SLAVERY FOR SOMEONE ELSE” ONLINE ARTICLE
“'Oooh, wow, the magic of compound interest!” said my childhood self.
"Just invest your money and it will magically grow year after year:...
"There’s no such thing as putting your money to work for you.
"You’re just using your capital advantage to put someone else to work for you, flaying a profit off the back of someone else’s time, talent, energy, and effort."
https://survivingtomorrow.org/the-magic-of-compound-interest-is-actually-just-wage-slavery-for-someone-else-7c98edcd0c33
2026 – LABOR DAY IN THE UNITED STATES
Begun by President Cleveland in 1894 as a means to distract attention and break solidarity of US workers from workers around the world that celebrated worker progress and activism on May Day (May 1).
The enactment of the National Emergency Employment Defense (NEED) Act, HR 2990 in a previous Congress, would have created millions of jobs. The jobs would focus on repairing our nation's infrastructure. The debt would not need to be raised. Taxes would not need to be imposed. Funding from any other public program would not have to be shifted. Public creation and circulation of U.S. money is all that would be required. Just as the colonists did when fighting the British. Just as President Lincoln did during the 1860 when creating Greenbacks. Just as economists proposed under the "Chicago Plan" during the 1930's to President Roosevelt to move the nation out of the Great Depression.
For more information on the NEED Act, go to http://www.monetary.org/
The NEED Act has been updated. It’s the American Monetary Reform Act (AMRA)https://www.monetaryalliance.org/wp-content/uploads/AMRA-Fact-Sheet.pdf
SEPTEMBER 8
1999 – DEATH OF HERBERT STEIN, FORMER CHAIRMAN OF PRESIDENT’S COUNCIL OF ECONOMIC ADVISORS
"If something cannot go on forever, it will stop."
[Note: Sounds like our current debt-based money system – an unsustainable system which can only continue if more debt is issued, which happens by banks when they issue loans and purchase treasury bonds, bills and notes]
SEPTEMBER 9
1801 – DEATH OF ROBERT YATES, POLITICIAN AND JUDGE
“I can scarcely contemplate a greater calamity that could befall this country, than be loaded with a debt exceeding their ability ever to discharge. If this be a just remark, it is unwise and improvident to vest in the general government a power to borrow at discretion, without any limitation or restriction.” – Brutus pseudonym, probably Robert Yates
1828 – BIRTH OF LEO TOLSTOY, RUSSIAN WRITER AND SOCIAL REFORMER
"Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal, there is no human relation between master and slave."
1890 – BIRTH OF MARRINER S. ECCLES, FORMER CHAIRMAN AND GOVERNOR OF THE FEDERAL RESERVE SYSTEM
"That is what our money system is. If there were no debts in our money system, there wouldn't be any money."
2024: FBI RELEASED ITS ANNUAL REPORT ON CRYPTO FRAUD: EXPLODED TO $5.6 BILLION IN 2023, EQUALING ALMOST 50% OF ALL FINANCIAL FRAUD
"In 2023, the Federal Bureau of Investigation (FBI) Internet Crime Complaint Center (IC3) received more than 69,000 complaints from the public regarding financial fraud involving the use of cryptocurrency, such as bitcoin, ether, or tether. Estimated losses with a nexus to cryptocurrency totaled more than $5.6 billion. While the number of cryptocurrency-related complaints represents only about 10 percent of the total number of financial fraud complaints, the losses associated with these complaints account for almost 50 percent of the total losses."
https://www.ic3.gov/Media/PDF/AnnualReport/2023_IC3CryptocurrencyReport.pdf
SEPTEMBER 10
2015 -- 11TH ANNUAL MONETARY REFORM CONFERENCE, SPONSORED BY THE AMERICAN MONETARY INSTITUTE
The conference brings together some of the world’s most serious advocates of real and achievable monetary reforms.
“The banking disaster, created and facilitated by false economic and monetary ideas, used by some very bad people, actually poses a real danger to the survival of the species. We must transform the ongoing disaster into an opportunity to achieve real and lasting monetary reforms for mankind. These are the reforms indicated as necessary by decades of study and centuries of experience…
“The main cause of the problem is using debt in place of money when the banks make loans, as our present system does. That single error, allowing banks to control our money system, promoted by those really trying to block monetary reform, and by some economics professors trying to keep their salary checks coming, is all it takes to wreck any monetary system, and begin the insane concentration of wealth, into exactly the wrong hands, as we now see in our society! The conference shows why money must be created by our government and spent into circulation on infrastructure, healthcare, and education. The conference highlights recent important moves in that direction by key people, and institutions, around the world.
“We have a once in several generations’ opportunity to fix an obviously flawed money system that is causing so much pain and hardship among a growing section of our people. It is clearly time to fix our monetary and banking system! Come and find out how, and the role you can play in that process.”
SEPTEMBER 11
1857 -- STEAMSHIP ‘CENTRAL AMERICA’ HIT BY HURRICANE, SINKS
In the second day of a hurricane, the ship sprang a huge leak. It sank the next day, drowning over 400 passengers and crew. The steamship had a million dollars in gold and silver onboard. It caused the Ohio Life and Trust Company to fail and sparked the Financial Panic of 1857 since money was backed by gold. Under such a metal-based money system, the less gold and silver, the fewer dollars in circulation. The fewer dollars, the less economic transactions occur, resulting in less production and more unemployment.
1859 – BIRTH OF MARY ELIZABETH LEASE, POPULIST LECTURER, SUFFRAGETTE, WRITER
Lease made 160 speeches during the summer and fall of 1890 alone as part of the Populist lecture bureau.
“Wall Street owns the country. It is no longer a government of the people, by the people and for the people, but a government of Wall Street, by Wall Street and for Wall Street. The great common people of this country are slaves, and monopoly is the master. The West and South are bound and prostrate before the manufacturing East. Money rules, and our Vice President is a London banker. [referring to Levi P. Morton, under Benjamin Harrison]
“Then the politicians said we suffered from over-production. Over-production, when 10,000 little children, so statistics tell us, starve to death every year in the United States, and over 100,000 shop-girls in New York are forced to sell their virtue for the bread their niggardly wages deny them.
“Tariff is not the paramount question. The main question is the money question.
SEPTEMBER 12
1880 - BIRTH OF H. L. MENCKEN, AMERICAN JOURNALIST
"The whole aim of practical politics is to keep the populace in a continual state of alarm (and hence clamorous to be led to safety) by menacing them with an endless series of hobgoblins, all of them imaginary.”
2013 – TALK BY ADAIR TURNER, SENIOR FELLOW, INSTITUTE FOR NEW ECONOMIC THINKING, "CREDIT, MONEY AND LEVERAGE"
“Banks create credit, money and purchasing power. That fact is fundamental to macro-economic dynamics in any economy with a complex banking (or shadow banking) system: and fundamental to both the 2007 – 2008 financial crisis and the depth of the post crisis recession.”
http://thinkingliberal.co.uk/wp-content/uploads/2013/10/Adair-Turner-Stockholm-School-of-Economics.pdf?fbclid=IwAR2vQO8b6z4H9I_5-6TC2Z2U2LasRli2uqhQ7aCsbR_UNowrMYLXE8k4i4I
2019 – PETITION A GAME CHANGER FOR NEW ZEALAND ECONOMY
“The petition provides a way out of our debt spiral. It asks the House of Representatives to give the Reserve Bank of New Zealand the sole ability to issue all New Zealand money, whether notes, coins, or electronic. With the Reserve Bank issuing all of our electronic currency as well, new money would be introduced into the economy debt-free and used to fund infrastructure projects.
“This is not a new idea,” says Richards. “In 1936, during the Great Depression, our Reserve Bank injected millions of pounds into our economy enabling the building of thousands of state houses and other worthwhile projects. In three short years we were able to get out of a bigger hole than the one we are currently in and finance systems that became the envy of the world.”
“While things have certainly changed since the 1930s, a 2012 IMF discussion paper titled The Chicago Plan Revisited endorsed a similar approach. According to their analysis, empowering the Central Bank (our Reserve Bank) to issue all money would smooth out the boom and bust cycles, eliminate the risk of bank runs and dramatically reduce both public and private debt. In addition, it would provide productivity gains of 10% and lower steady state inflation to zero.”
https://www.positivemoney.org.nz/pm/petition-a-game-changer-for-the-new-zealand-economy/
2023 – PUBLICATION OF “WEALTH SUPREMACY: HOW THE EXTRACTIVE ECONOMY AND THE BIASED RULES OF CAPITALISM DRIVE TODAY’S CRISIS,” BY MARJORIE KELLY
“The financialized economy helps to drive economic injustice, society-fragility, and planetary-scale crisis. Financial extraction is the source of expanding inequality, the force creating the growing desperation of the precariat. Finance is also in the process of absorbing the natural world as a new “asset class” of ecosystem services, with the aim of “creating” trillions in new wealth for the privileged few.”
All of this is made possible, and partially driven, by the creation of money as debt by private, corporate banks.
A petition that promises a significant and dramatic improvement for the New Zealand economy was handed to Dr Deborah Russell, the MP for New Lynn, today. “The petition, signed by over 5,000 New Zealanders, addresses our crippling level of debt as well as funding infrastructure projects that will e...
