Found a good "BBS Text" link? Let Us Know!

This paper is presented in an historical context and is indicative of the various rants, raves, treatises, etc., that were prevalent in the old BBS (Bulletin Board Service) days. Content has not been changed, though formatting changes may have taken place to make it more presentable. (Spelling, sentence/paragraph structure, etc.) Wherever possible, credit is given to the originating source.

 Return to BBS Text Files

The SPOTLIGHT 
July 5, 1993

COIN COULD SAVE BILLIONS
How the taxpayers could save $21.9 billion - but won't.
By Frank Tompkins

The Federal Reserve is rolling out its big lobbying guns again to stop a perennial threat to the profits of its owners - the big bankers who control the nation's money supply and monetary policies.

In 1979 it was able to put down the Susan B. Anthony dollar coin by a massive raspberry campaign in America's "free press." As if commanded, editorial writers and other comedians around the nation rose up to ridicule the coin, claiming that it was "too much like a quarter" although it was too big for a quarter in vending machines and anyone dumb enough to mistake it for a quarter deserved to lose 75 cents. The Great American Meathead caught on and shunned the dollar coin. Susan B, Anthony in death as in life became a historic wallflower.

Bankers profit from paper dollars because these are issued by the Federal Reserve against U.S. bonds on which taxpayers must pay interest. Meathead taxpayers last year paid some $144 million in interest on the 4.8 bullion one-dollar bills floating around.

IF DOLLAR BILLS WERE ELIMINATED

If dollar bills would be eliminated, this unnecessary annual interest cost would be saved because all coins are issued directly by the treasury without interest, whereas all paper money is issued by the privately owned Federal Reserve at interest in the greatest racket ever invented. Not only would the interest on dollar bills be saved but also up to $400 million per year would be saved in printing the paper bills.

The dollar bill lasts for about 18 months. A coin lasts for about 30 years. Thus every dollar in coin saves the taxpayers not only the printing costs, totaling $00 million per year, or 12 billion over 30 years, but if all dollars were coins some $328 million per year would be saved a year in interest, assuming an interest rate of 6.8 per year, the average discount rate for the last 10 years.

Extrapolated over 30 years, that comes to $9.9 billion plus $12 billion in printing savings for a total of $21.9 billion. No wonder mattoid crooks gravitate toward their natural habitats - the professions of international banking and democratic politics. These professions pay very well. You can see why.

Watch the editorials in your newspaper start panning the idea of a dollar coin again. The tack the press will take: "This is another stupid government idea because the people have proved they don't want a dollar coin. They like the convenience of paper." But no newspaper in the United States except The SPOTLIGHT will tell you why the "American people" don't like the idea of a dollar coin.

 

Please Read The Website Disclaimer!
Copyright 2006, The Survival & Self-Reliance Studies Institute (SSRsi), All Rights Reserved
Site conceptualized, designed, created & maintained by MEG Raven
Snail Mail: SSRsi, PO Box 2572 Dillon, CO. 80435-2572