Not My Meme! #1307

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notmymeme unoriginalmeme humor politics
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Resisting injustice has often been the first step toward meaningful change.

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"Spooner's writings include the abolitionist book The Unconstitutionality of Slavery and No Treason: The Constitution of No Authority, which opposed treason charges against secessionists."

https://en.wikipedia.org/wiki/Lysander_Spooner

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"It is a settled principle that a paper currency depends, for its true and natural market value, wholly upon the redemption that is provided for it. It has, and it can have, no more true or natural market value than the property with which it is to be redeemed. A paper currency, therefore, that has no other redemption than that of being convertible into interest-hearing bonds, can be worth no more in the market than are the bonds themselves, and, consequently, no more than it is worth for conversion into the bonds. And it is worth nothing for conversion into bonds, unless there are some one or more persons who wish thus to convert it. In other words, it is this demand for the bonds, as investments, that alone gives the currency any value in the market. A convertible note of this kind, therefore, circulates as money only because some one or more persons want it for conversion. And it circulates only until it falls into the hands of such a person. When it falls into his hands, he converts it, and thus takes it out of circulation."

https://theanarchistlibrary.org/library/lysander-spooner-our-financiers

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When have bonds failed? 'Across these cases, the usual causes were war, revolution, recession, excessive debt, or weak revenues; the common effects were missed payments, restructurings, market exclusion, or repayment in less valuable terms. In other words, government bonds tend to fail when the state loses either the ability or the willingness to honor the original promise.'*P

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"In process of time, the robber, or slaveholding, class—who had seized all the lands, and held all the means of creating wealth—began to discover that the easiest mode of managing their slaves, and making them profitable, was not for each slaveholder to hold his specified number of slaves, as he had done before, and as he would hold so many cattle, but to give them so much liberty as would throw upon themselves (the slaves) the responsibility of their own subsistence, and yet compel them to sell their labor to the land-holding class—their former owners—for just what the latter might choose to give them" 😱

https://en.wikipedia.org/wiki/Lysander_Spooner#Wage_labor

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Hard to believe that sooo little has changed from that long ago.
And, how few take the time to know.

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That's what I thought too, amazing how a quote from so long ago reveals so much about a situation that we all consider normal today. I gotta start converting my Cash to Bonds, and acquire some Property. Once I defeat the dragon of Debt that eats my Silver coins.

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3rd party risk is off the charts right now, better to have something in your hands than a promise from a corporation that controls the laws and judges.

But, https://www.treasurydirect.gov/ is the place to go, if you want bonds.
It's a direct account between you and the treasury, no middle man.

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