It is well known in economics academia that The Wonderful Wizard of Oz written by L. Frank Baum in 1900 is loaded with powerful symbols of monetary reform which were the core of the Populist movement and the 1896 and 1900 president bid of Democrat William Jennings Bryan. The yellow brick road (gold standard), the emerald city of Oz (greenback money), even Dorothy’s silver slippers (changed to ruby slippers for the movie version) were the symbol of Baum’s and Bryan’s belief that adding silver coinage to gold would provide much needed money to a depression-strapped, 1890s America. We believe Baum’s symbols represent the only solution to relieve the growing economic hardship here in America – and the rest of the world. Practically speaking, 2009 marks the 70th anniversary of the 1939 MGM release of the The Wizard of Oz movie, so interest will be very high. Even Oz websites put up by kids get millions of hits.
It is well known in economics academia that The Wonderful Wizard of Oz written by L. Frank Baum in 1900 is loaded with powerful symbols of monetary reform which were the core of the Populist movement and the 1896 and 1900 president bid of Democrat William Jennings Bryan. The yellow brick road (gold standard), the emerald city of Oz (greenback money), even Dorothy’s silver slippers (changed to ruby slippers for the movie version) were the symbol of Baum’s and Bryan’s belief that adding silver coinage to gold would provide much needed money to a depression-strapped, 1890s America. We believe Baum’s symbols represent the only solution to relieve the growing economic hardship here in America – and the rest of the world. Practically speaking, 2009 marks the 70th anniversary of the 1939 MGM release of the The Wizard of Oz movie, so interest will be very high. Even Oz websites put up by kids get millions of hits.
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#2
What's going on with the american economy, foreclosures are everywhere, unemployment is skyrocketing and it looks like this may only be the beginning.
#3
As a result most americans fear that our cherished basic freedoms and way of life are under direct attack as our standard of living sinks like a stone.
#4
But could it be that all these problems were foreseen a hundred years ago by L. Frank Baum, the author of "The Wonderful Wizard of Oz"?
#5
Why is this just coming out? Because when the MGM movie "The Wizard of Oz" was made in 1939 significant changes were made from L. Frank Baum's original book version written 40 years earlier in 1899.
#6
In the book version of "The Wizard of Oz" Dorothy's slippers are made of silver, as opposed to in the film version where Dorothy's slipper are made of ruby. You take away the silver slippers on the gold or yellow brick road and all of the other symbolism tends to be lost.
#7
The 1890s was a terrible time, america was going through its worst depression ever. Those who tried to break the grip the big bankers had on congress had just lost the presidential election of 1896.
#8
There are many things different in the film than in the book, if you want to see the full blown allegory all you have to do is read the book version and if you have some understanding of the politics of that age, particularly the monetary politics, you will see some unmistakable parallels that can only lead to one conclusion:
#9
that L. Frank Baum was engaged in a deliberate effort to not only entertain children with this delightful story but also to make a broader point about the politics of the time and particularly the politics of gold and silver which became the central political issue in the elections of 1896.
#10
Now let's see what the experts say about our current problem then look at our history so we can understand what L. Frank Baum was trying to say in his book "The Wonderful Wizard of Oz".
#11
Well, it's no secret to any american that we're living in very precarious times. Americans are being robbed blind and they don't even know who's doing the robbing.
#12
I mean we clearly are, you know, in a bus and we're headed for the edge of a cliff and there's still probably time to change course. the only problem is the people driving the bus don't realize that there's a cliff there yet.
#13
If the problem is that's bringing the economy to a halt is too much debt and if nobody in the government, in either party, is looking at solving the debt problem, then the answer is: it's going to go into a depression as far as the eye can see.
#14
And so we're gonna have a massive massive recession, well let's call it a depression, while the economy rebalances away from a service sector economy towards a goods producing economy. Away from a borrow & spend economy to a save & produce economy. That's what we need to do, we can't get from where we are to where we need to be without a severe depression.
#15
What the government can do? The sad answer is: under our current monetary system nothing!
#16
It's not gonna get any better until the root cause of the problem is understood and addressed. There isn't enough stimulus money in the entire world to get us out of this hole. Why? Debt!
#17
The national debt is just like our consumer debt, it's the interest that's killing us.
#18
You must understand that every penny, every dollar that we have in circulation is created as an interest-bearing debt.
#19
So what is the national debt? When government spends more than it collects in taxes it has to borrow the difference by selling interest-bearing IOUs such as US bonds.
#20
When a US bank buys a 100 dollar bond it gets to loan out ten times that amount so the bank not only gets back the 100 dollars plus interest from the federal government, it gets to loan out another 1000 dollars it doesn't have and charge additional interest.
#21
Banks are allowed to create this extra money out of thin air. So banks aren't making only 6% interest for example, they are really making over 1000% interest. That's why bank buildings are the biggest in every town on the planet.
#22
The system of lending way more than you have is called "Fractional Reserve Lending". Almost all our money is created by banks lending it to people to companies or to government. As we'll see there is a better way for the government to get money, simply issued without debt for the benefit of all citizens equally. Abraham Lincoln did it, Ben Franklin did it, Jefferson wanted to do it.
#23
Honest americans have fought against this bank controlled debt money system throughout american history.
#24
But unless we change it soon, most of our freedoms will soon be lost in a tidal wave of debt. This was the central message hidden in "The Wonderful Wizard of Oz".
#25
75 years ago an employee of the Atlanta Federal Reserve explained the importance of the debt money system and how it can strangle our economy:
#26
"Someone has to borrow every dollar we have in circulation. If the banks create ample money we are prosperous; if not, we starve. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is incredible. It is the most important subject intelligent persons can investigate and reflect upon."
#27
The government should never go into debt. It doesn't need to go into debt, the government can issue the money it needs.
#28
That's absolutely right, under our current money system the government has to borrow our money into existence then pay interest on it. That's why they call it the national debt: all our money is created out of debt. Politicians who focus on reducing the national debt without trying to actually fix the underlying cause probably don't understand what the national debt really is. To reduce the national debt would be to reduce our money and there's already not enough money for the average person.
#29
Why haven't we heard this before? Because most of the media and congress are beholding to the big banks for loans. Yes, congress still appropriates money but where do they get it?
#30
Again, what they can't raise from taxes they borrow from banks. In 2009 congress will spend over 4 trillion dollars but they will have to borrow half of it. But on top of that in 2008-2009, congress bailed out the biggest banks by giving them nearly a trillion dollars.
#31
The worst part is we aren't just giving the money away, we're borrowing it to give it away! As patrick Byrne CEO of Overstock.com recently said:
#32
"This is rich bankers bailing out rich bankers on your credit card. It's called an oligarchy - a group of powerful folks who have basically hijacked the government."
#33
One of the things I think that's difficult to figure out from the political side of this thing it's clear that they're making a lot of mistakes and the question in my mind is: are these mistakes? Could people in washington really be ignorant about what they're doing?
#34
Because I can't look at what the politicians are doing in Washington D.C, I can't look at that and say there's any hope of that working. And these guys have to face elections. Now, when the next election rolls around they're not gonna politically popular figures. There are gonna be consequences for the politicians, so what makes them push the wrong buttons?
#35
Today I heard a senator say on tv: the trouble with General Motors is they have too much debt. And so the so the solution is to give them another big loan. Well you can't borrow yourself out of debt! General motors can't, you and I can't, the federal government can't, nobody can borrow themselves out of debt.
#36
No more than like I said before: you cannot drink yourself sober! And that's what we're all trying to do. So it don't make any difference what kind of stimulus...and Obama he had a right idea - we're gonna build a lot of new roads - but he's gonna borrow the money. Well we can't even pay the debt now! I mean, we can't even pay the interest on it!
Today I heard a senator say on tv: the trouble with General Motors is they have too much debt. And so the so the solution is to give them another big loan. Well you can't borrow yourself out of debt! General motors can't, you and I can't, the federal government can't, nobody can borrow themselves out of debt.
#37
No more than like I said before: you cannot drink yourself sober! And that's what we're all trying to do. So it don't make any difference what kind of stimulus...and Obama he had a right idea - we're gonna build a lot of new roads - but he's gonna borrow the money. Well we can't even pay the debt now! I mean, we can't even pay the interest on it!
#38
Nobody is even talking about the debt problem as such, they're talking about the fact bankers aren't making enough money to live in the way that they're accustomed to.
#39
Until politicians begin to understand where the root of the problem lies, we're never going to fix this. But the good news is that the solution isn't new or radical: america used to do it long before L. Frank Baum wrote about it. Throughout american history politicians have fought with big bankers over it, but this aspect of our history has now been erased from history books.
#40
I think we need to reconsider and re-think perhaps the very foundations of our economic and monetary system.
#41
The government, the government agency or some agency of some kind should take charge of the money supply - But that's not the way it is now in the Great Britain - No no, not in any country. It's almost all over the world, it's a system...that bulks of money supply are now created by commercial banks. As debt!
#42
If we were starting as people that were at the start of the constitution of a society and someone suggested: well the best way of creating the money and putting it in is to combine it with a function of providing a competitive profit-making market for borrowing and lending, it would be regarded as idiotic!
#43
You want a new cause to embrace? You wanna do something good for humanity? How about one simple reform that will fix most of the bad things in this world like: hunger, poverty, disease and misery! This is the ultimate civil rights struggle human kinds escaped from serfdom.
#44
As president obama put it: "Due to the ongoing recession the number of chronically hungry people will climb to over one billion worldwide."
#45
But this is completely unnecessary. Yes, we could eliminate world hunger in a few years. But how?
#46
The solution is the secret that's been hidden from us for over a hundred years, ever since the time when author L. Frank Baum wrote the wonderful wizard of Oz.
#47
But before we show you what these symbols were, we've got to understand some history, otherwise "The Wizard of Oz" connection just won't make sense to you. So let's take a journey down the yellow brick road through monetary history, our first stop will be Rome.
#48
The problem with money is that, like many other things in life, people fight over who gets to be in control of it. In fact the only time jesus became violent was when he chased the money changers from the temple: "He made a whip out of cords and he scattered the coins of the money changers and overturned their tables".
#49
What was that all about? The money changers were the bankers of that day, they had created a special silver coin called the "half-shekel" or "shekel of the sanctuary".
#50
Even the poor had to have some of these coins to pay their temple tax! So the money changers could charge whatever the market would bear. This monopoly on money was nothing less than stealing from the poorest jews, on their holiest ground! This outraged jesus just as it would outrage the senators of the Roman republic a few years later.