NOTICE: Please Read!

 

For those who are not familiar with this particular object,
(like members of congress, senate, house, governing body,
secretary of treasury, and members of the Executive branch.

THIS IS CALLED A CHECKBOOK!

It is a wonderful little item. We don't have to carry a bag of
silver or gold around anymore in a purse,

or even Federal Reserve Notes
(of which there is no reseve, so that is an oxymoron in itself).

~

We had this required class in our last year in high school.
It was called 'Senior Problems" and was designed to address practical
things in everyday life that we were liable to have to deal with after
we went out into the cold, cruel world.

One of these very important lessons in the course ( if you were able to
get a job) was to learn how to make an account at a bank,
and you would deposit your earnings and then get this 'checkbook'.

These "checkbooks" come in many many sizes, shapes, designs,
colors, and covers to chose from. One of these days
someone will design a holographic cover, or a digital cover
that has your personal family photographs that change
as you open it...oh what fun! This is BIG STUFF! It proves you are
at last an adult, no ear piercing or tatoos, or moose killing for us!
(well now.....these days, that seems to have changed too!)

There is a column for credits, which is when you put MONEY into the account.
The bank then holds it*** for you until you withdraw it or use it.
Notice, there is also a column for 'debits'. Those are for the checks you
will write out to pay bills or make purchases.

THIS IS MONEY!

It clearly says: "This certifies that there is on deposit in the Treasury of The
United States of America One Dollar in silver payable to the bearer on demand."
(The silver certificates can no longer be redeemed for silver--the Treasury
announced a final date on which they would honor the agreement, and it is long past.
If a silver certificate is in excellent shape, it may have some value as a collectible.
The bill illustrated above is in poor condition, so it is probably only worth a dollar.)

Contrast this note to a Federal Reserve Note:

There is nothing backing this bill other than the green on the other side.
(Another fun fact--it was not until 1963 that the first one dollar Federal Reserve note was issued.
Until them almost all of the one-dollar bills were silver certificates.) As a matter of fact,
this makes the Federal Reseve Note a 'debt instrument'.

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Now: back to the checkbook

The purpose for these columns for 'debits' and 'credits are to record faithfully what
you deposit into your account, and also what you take out. Sometimes you
might use a 'debit' card or have something taken out automatically. These too
are supremely important to record. If you do not committ yourself to this process, you
run the risk of having bad things happen to you.

The next lesson we learned which is the important one

YOU CANNOT SPEND MORE MONEY THEN YOU DEPOSIT

You get into trouble big time.

WARNING: If you write out a check for more then you have in the bank,
this is called "passing a bad check". If you use someone else's checkbook,
and sign their name, it is called a 'forgery'. If you use someone else's money,
it is called 'embezzlement'. Any of these mis-uses of the 'checkbook' can
get you put into prison for a very long time. (that is of course, unless you
are someone like Bernard Madoff or other white collar/elites who get their
hands slapped and pardoned by the 'big guys)

 

This is a most useful lesson, class! You will find that following these simple
lessons with using your checkbook through your life, will help you to
keep a 'balance', to be able to live within your 'budget' and avoid 'stretching
yourself too thin' and running the risk of "deficit spending".

NOTE: There will be 'those' who will tempt you with credit cards, with loans,
with lines of credit for you to use on future earnings, but this can lead you
into a life of spending more then you are earning, and will be earning and you can
run the risk of losing all you had in the first place.

~

PLEASE CLASS: Use your checkbooks wisely and you too can have comfort that
you are managing your 'credit's and 'debits' in a responsible manner for a solid future.

 

Next Lesson Will Be: How money is created.

 

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***The bank is able to operate in this way, because it gives them also 'credit' in
their accounts, which they invest and gain interest on your money. No, except for a
very tiny amount of interest some banks pay, they will not share with
you what they have earned. And, they will never tell you how much
YOU are worth to them as collateral and how much they EARN
off you. Indeed, if you ever write a check and there isn't enough
money to cover it, they will be adding on fees before you even know
there is no money in your account. This is called 'Sadism', and 'Usery'.

 

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Thanks to these Sources:

http://tim.inyourface.tv

http://ingrimayne.com/econ/Banking/PaperMoney.html

Creating Money

Aumônières, otherwise known as alms purses

The 10 Worst Prisons In The World

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DOLLAR DECEPTION:
HOW BANKS SECRETLY CREATE MONEY

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http://www.the7thfire.com/index2.htm

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