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However, colony-based British merchants and financiers objected to Parliament. Enough so that in 1751, King George II banned new paper money issuance to force colonists to borrow it from UK bankers. In addition, the Bank of England got Parliament to pass a Currency Act, making it illegal for colonies henceforth to issue their own. As a result, prosperity became poverty because the money supply halved, leaving too little to pay for goods and services.
According to Benjamin Franklin:
"the poverty caused by the bad influence of the English bankers on the Parliament" got colonists angry enough to spark war. "The colonies would gladly have borne the little tax on tea and other matters (if) England (hadn't taken their money), which created unemployment and dissatisfaction."
Tea Party adherents need a name change, instead of tea, a theme around controlling our own money, as mandated by the Constitution's Article 1, Section 8, saying only "Congress shall have Power to coin Money, (and) regulate the Value thereof," not bankers and complicit Fed officials they manipulate and control.
Origins
Promoted as grassroots activism, the party gained national recognition in media-hyped mid-2009 congressional town hall protests against Obamacare, banker and other bailouts, fiscal excess, and bogus claims about Obama's socialist agenda.
Then last February, its Nashville, TN national convention increased its prominence, highlighting an agenda to shift America further to the right on the pretext of popular opposition to big government and fiscal irresponsibility. As a result, hardline extremists mostly attracted middle income Americans facing lost jobs, homes, and economic uncertainty at a time they should have shifted left, not right. Instead of blaming big government, a groundswell for addressing popular needs should be demanded.
It didn't. Demagogues took advantage and aroused millions, aided by daily Fox News support and its lunatic fringe hosts. Among them, Glenn Beck, Bill O'Reilly, and others rage against big government, hyping an extremist agenda, spreading fear, and growing ranks of adherents, largely mindless that their best interests are compromised, not helped.
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