SB: Yeah, because they actually were in favor of the country splitting in two and having a confederate states and northern United States and thereby weakening the country overall. And certainly in their writings they were very much against sovereign money and Lincoln's Greenbacks and they fought in Congress and they fought among their own banker association to prevent that. The idea was that they wouldn't... they didn't want competition for the act of money creation. So this is hotly contested but a lot of the testimony was suppressed at trial according to McGeer and that testimony pointed to it, and it was a court martial too so it was easier to do. But the testimony pointed to conspiracy, basically, of the bankers to pay the John Wilkes Gang, which is about a dozen people, in order to assassinate the president and end this kind of alternate money, public option for money, let's say. But going back to the concept, what it basically is, is debt-free money that we don't have to borrow, which can be put into the public purposes, it can be used for infrastructure, it could be used for education, it could be used for funding social security, it could be basically used for anything. At least, in theory it could replace taxes. Now I maintain in the book that there's other reasons for taxes other than raising revenue because it dampens the inequality and it takes away the rent-seeking possibility from the rentier class. So you don't want...if you only issue money, let's say, if you were to only issue government money and not tax anybody what would happen is it would go into rent of some form or another, in other words people's living expenses would go up for the things that they can't control for the resources and location that they don't have that they must use in order to live. So you can't do that alone. You also have to tax the rentier class which is where things like the land value tax come in.
Rob: Alright we'll get to that, let me ask you a couple questions more about sovereign money though.
SB: Yeah.
Rob: So what you've basically said is that when the continental was released the British destroyed it by using counterfeiting. And when Lincoln created the Greenback he was assassinated by European bankers.
SB: Well I'm saying that they paid people who had other motives...it's not hard to find people who want to assassinate a president at any given time.
Rob: You know you want to...
SB: There's people out there, that's all I'm saying.
Rob: You want to debate the fine points of it, but basically the wealthy bankers found some people and paid them and encouraged them to kill him. That's what I'm hearing.
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