Video Released on YouTube - 10-30-2023
A New Video Released on YouTube 10-30-2023
1690-1800 The US Financial Lessons Not Taught in US Schools
Quoting the wisdom of those who witnessed the birth of a nation, we delve into the bitter experience of the American colonies with fiat money and the resolve of our Founding Fathers to NEVER again allow the creation of fiat money.
I spent too many hours researching and producing this video. I learned things that I did not know. This information should be taught in schools, but it is not. Why?
At the beginning of the war in 1775, the total money supply for the federated colonies stood at $12 million. • In June of 1775, the Continental Congress issued another $2 million. Before the notes were printed, another $1 million was authorized. • By the end of the year, another $3 million. • $19 million in 1776. • $13 million in 1777. • $64 million in 1778. • $125 million in 1779. • A total of $227 million in five years on top of a starting base of $12 million is an increase of about 2000%. • On top of this "federal" money, the states were doing the same in an approximately equal amount. • And still more: the Continental Army, unable to get enough money from Congress, issued "certificates" for the purchase of supplies totaling $200 million. • $650 million created in five years on top of a base of $12 million is an expansion of the money supply of over 5000%. That is 50X —- What happened —- watch to the end and if you learn something please share.