The Gold Coins of the Ottoman Empire

The Gold Coins of the Ottoman Empire

Gold is now found scattered all over the world, but in ancient times it was produced only in following countries of: Egypt, Anatolia, Greece, Transylvania, Spain, Arabia and India. 

The first gold coins appeared in Lycia, which is located in the southwestern part of Anatolia. 

Gold is a soft metal and therefore easy to handle and can be moulded into various shapes, but in order to be used as a coin/currency, Gold needs to be added together into other substances to be hard enough to endure excessive handling.

An ounce of gold can be stretched into a thin wire that extends for a mile.  This malleability makes the metal an ideal resource for jewelry and gold dust mixed with other materials was often used in calligraphy on book covers and other kinds of decoration. 

Now that I have briefly explained the first usage of Gold; I would like to focus the remainder of my essay today on the currency used during the 'Ottoman Empire'.  This essay is a continuation of my research into the currency usages through-out mankind.  

Other writings I have posted are listed below:

Executive Order Number 111110

http://www.goodread10.blogspot.ca/2014/02/executive-order-number-11110.html

Bitcoin In The Future

http://www.goodread10.blogspot.ca/2014/02/bitcoin-in-future.html

FIAT Money In Circulation

http://onlythebrave10.blogspot.ca/2014/02/fiat-money-in-circulation.html

Denarius Currency

http://onlythebrave10.blogspot.ca/2014/02/denarius-currency.html

United States Notes

http://onlythebrave10.blogspot.ca/2014/02/the-united-states-notes.html

Now, today's essay.  

With the conquest of Anatolia and the eventual expansion into Europe, the Ottoman Turks took over systems for mining and acquiring Gold that were already in place for centuries.  These locations were in Anatolia and the Balkans, in Eastern Europe.  

Monetary exchange was based only on coins, since paper money was not introduced yet.  This meant that Gold and Silver were important commodities and carefully protected by the Turks.  

Also, when the Ottoman Turks conquered Egypt, most of the Gold and Silver mining already in existent in the world, fell into the hands of this Empire.  Gold came to be in very short supply in Europe some time beginning in 1520, as most of the Gold mined, ended in the a Ottoman Treasury. 

The official currency of the Ottoman Empire was the 'Silver Akce' that can be traced back to Osman Bey, who was the person that created this Empire, and the 'name-giver' since, Ottoman is English for Osmanli.  He reigned from 1299 to 1324.  

The Silver Akce continued to be used until the 15th century when the first Ottoman Gold Coin appeared during the reign of Fatih Sultan Mehmet in 1478.  As the dates can be a witness, the Gold Coins used by the Ottoman Empire is after the conquest of the Empire of the 'Gold Mined' territories, joining the Empire.   

'Gold Treasuries' were set up in cities of Diyarbakır, Van and Bahdat with considerable care paid to the sources of Gold and Silver and careful oversight was undertaken to ensure that the coins were not debased.  Inspectors were regularly sent from the capital city of Constantinople to see that everything was in order and proper care given to the making of the Gold Coin Currency.  

Throughout much of the first half of the Empire, which was from 1480 to 1675, the Ottoman Gold Coins competed with foreign currencies such as Venetian Gold pieces, Egyptian Pare and Spanish Coins.

The 18th century had been a period of instability for the Ottoman Turks, as the currency culminating around the middle of the century saw the closure of 'Gold Treasuries'.  

The decline of the Gold Coins of the Empire posed serious challenges to the administration.  The reliance on foreign coins had serious political implications, as without control over the currency, its control over the economy diminished considerably. Moreover, the devaluation of its own currency saw the beginning of the decline of this Empire.  

Over time and due to numerous wars the Ottoman Empire was engaged in, the Ottoman Turks became unable to meet its financial obligations and was forced to debase its currency even further. 

The monetary system of the 'Once Mighty' Empire, directly correlates to the collapse of this Empire.  Once the devaluation of the Gold Coins started, and the rising debts could not be sufficiently paid, collapse was only evident.   

The phrase 'All things must come to an end' comes to my mind, the concept of 'devaluation of a currency' is not particularly a smart move by the Empire, but it is easier to make this statement now, a few centuries after the beginning of the collapse.  

Thank you for reading, 

Ben here

The United States Notes

The United States Notes

This is a continuation to my previous writings titled:

'Executive Order number 11110' 

http://goodread10.blogspot.ca/2014/02/executive-order-number-11110.html?m=0

&

'The Elite Banking stopping JFK'

http://onlythebrave10.blogspot.ca/2014/02/the-elite-bankers-stopping-jfk.html?m=0

If the above links does not work, please copy/paste the link to the 'address bar'. 

Today, I would like to write about the difference between the 'Bank Note', named 'United States Notes' (USN), introduced by the President John F Kennedy (JFK), with the current money in circulation, named 'Federal Reserve Note' (FRN).  

Briefly, I would like to state again that the USN were issued as an interest-free and debt-free currency backed by 'Silver reserves' sitting in the USA Treasury Vault.  This was an absolute good reason to proceed with this brilliant idea.  

However, the USN did not stay in circulation for very long.  

The President JFK was assassinated on November 22, 1963, and the USN, he bravely issued were immediately taken out of circulation.  Currently, the FRN are the only legal currency of the USA.  

What did the USN look like?

The USN looked like the FRN, the differences are that:

on the top of the Bank Note, one states 'United States Note', instead of 'Federal Reserve Note'.  

Also, the USN has a red seal, while the FRN has a green seal.  

The difference are just that, however the ramification of not continuing with the USN is this; the USN were backed by Silver Reserves and the FRN were not backed by anything of intrinsic value.   The USA's total debt has increased dramatically since 1963; and if the country would have continued with USN, large portion of this debt would not accumulated, since the country would not have to borrow the money from the 'Federal Reserve Bank' at Interest.  

We need to re-visit the idea of 'United States Notes'. 

Thank you, 

Ben

The Elite Bankers stopping JFK

The Elite Bankers stopping JFK

The theory that we are not made aware of is the subject matter, I would like write about today. 

Since November 22, 1963, the assassination date, there have been thousands of books filled with theory and myth as to why the President, John F. Kennedy (JFK) was gunned down in the city of Dallas.  

The theory I would like to bring attention to is the government of JFK trying to stop the printing of money 'outside' of Parliament, and not in the hands of the Federal Reserve Bank (FED). 

The important date of June 4,1963, is little known as the date that the attempt was made to 'start' the stripping of the FED of its power to loan money to the government at interest.  

We do not realize that the money printed and loaned to the USA government is completed through the FED, which is not a government body.  

On the date stated above, the President, Mr JFK signed an Executive Order Number 11110 that would eventually return the power to the USA government to issue currency, without requiring to go through the FED.  

The President Mr. JFK, with the Executive Order Number 11110, was on his way to eliminating the FED and having the printing of money, backed by 'Silver Certificates' in the hands of the government of USA.  Prior to the Executive order reaching Parliament for passing, guess what occurred?

We are led to believe that there are other reasons why the President of the United States of America, Mr JFK, was assassinated.  

The more plausible reason is that the 'Elite Bankers' stopped the 'Executive Order' and had the President assassinated.  

What ever happened to this 'Executive Order'?

On June 4, 1963, a virtually unknown Presidential decree, the Executive Order Number 11110 was signed with the authority to basically strip the FED of its power to loan money to the USA government at interest.  With the signature by JFK, President declared that the privately owned FED would soon be out of business.  The 'Executive Order' after his assassination, has never been repealed, amended, or super-ceded by any subsequent Executive Order.  In simple terms, it is invalid now. 

Thank you for reading, 

Ben

Reality of Amero

Reality of Amero

‘Amero’ is a proposed name for the future North American Currency, which would replace the ‘Canadian Lonnie’,  ‘American Dollar’, and ‘Mexican peso. 

This proposal is in existence and the authorities consistently meet to discuss the implementation of the ‘Amero’, as it is a way for the United States, Canada, and Mexico to collaborate on issues such as:

Customs,

Environmental and safety regulations,

Narcotics smuggling, and

Terrorism.

Implementation of the ‘Amero’ would involve the three countries named above to give up their current currency.  The new currency is modeled on the European Union Currency (Euro), and it is argued to be a natural extension of the North American Free Trade Agreement (NAFTA) and the Security and Prosperity Partnership of North America (SPP).

Also, another major benefit stated of the ‘Amero’ is believed that it will eventually increase trade through reduced complication for transactions of currency exchange rates between the three countries, as this would be eliminated.

The biggest drawbacks of changing over to the Amero would that the 'Federal Reserve' of USA will need to give up control of the 'money supply'.  The FED of the United States would be restricted on monetary policy.  The changes would:

Interest Rates and "money printing" would now be under the control of three countries rather than one,

The USA would no longer stand alone in its trade negotiations with other countries of the world, and

The USA would be subject to the rules of the neighboring two countries which could reduce its economic power.  

For now, the ‘Amero’ is just an idea that has been kicked around and talked about with no real plans for implementation, yet.  

We will continue to monitor the developments regarding the 'Amero'. 

Thank you, 

Ben

Red $50 Bank Note

Red $50 Bank Note

The $50 bank note is red in colour, and introduced into circulation on March 26, 2012.  

The note is printed on polymer paper, which means the note is more plastic than paper.  This means that the note is more durable than the cotton-based paper it has replaced.  

The main reason by the Federal Government in implementing the new Canadian bank note is the 'Security' features.  A few of the security features are:

- the same clear windows and metallic images that are seen on the front are seen on the reverse,

- design incorporates a special tactile feature, similar to Braille Dots, for the blind, indicating the denomination of the bank note.  

          Canadian $50

The front of the note:

The front of the note features a handsome portrait of Mr William Lyon Mackenzie King, who was the Prime Minister from 1921 - 1948. 

The reserve of the note:

The reverse of the note shows the Canadian Coast Guard Ship, named 'Amundsen', which is a Research Icebreaker Ship. 

          The back

I was finally able to get my hands on a new/old $50 Canadian Bank Note, at the same time, and took the below two pictures: 

Also, I have written about $5, $10, $20 and $100 Canadian Bank Notes, please look for these blogs below:

$5 Canadian Note

http://onlythebrave10.blogspot.ca/2014/01/5-canadian-note.html

New Purple $10 Canadian Note

http://goodread10.blogspot.ca/2014/01/new-purple-10-canadian-note.html

$20 Canadian Currency

http://goodread10.blogspot.ca/2014/01/20-canadian-currency.html

Big Brown $100 Bill

http://onlythebrave10.blogspot.ca/2014/01/big-brown-100-bill-if-you-are-following.html

I have finally been able to complete my 'series' of trying to picture each of the new/old notes together. 

I will now try to get my hands on a $1,000 Bank Note.  I hear they are in circulation, however to this date, I have never been able to find one.  

Thank you for reading, 

Ben

Fiat Money in Circulation

Fiat Money in Circulation

I wanted to write about our current 'Money in Circulation' as it is a relatively important topic, which is seldom analyzed by citizens.  

'Fiat' money is money/currency in circulation through out the world, without an intrinsic value attached to the money/currency.  

The term originates from Latin Language to mean 'Let it become' or 'Let it be done'.  

What is Money? 

It is a simply what people use as a medium of exchange or a unit of account in a transaction.

The alternative to Fiat money is commodity currency, which is money/currency that has some sort of intrinsic value already.  

Once upon a time all currencies were backed by some kind of a commodity like 'Gold', 'Silver' or another value able item.  

Fiat money is valuable for no other reason than that the Federal Government saying that it is.  Paper money with no 'Commodity Backed' is an example of Fiat Money.  

We currently are using this form of currency in this county.  

Thank you for visiting, 

Ben

Worst 3 Drops in History

Worst 3 Drops in History 

Today, the 'Dow Jones Industrial Average' dropped 326 points to end the day at 15,372.80.  After numerous highs in 2013, the 'Dow Jones' has lost a total of 7.3% since january 1, 2014.  

This 'sizeable' drop made me wonder what was the 'Worst 3 drops in history' of the Dow Jones Industrial.  

Below, are the dates and brief reason for the drops: 

3. 

April 14, 2000.  

Total Drop: 618 points (5.7%)

After learning that core consumer prices had risen 0.4%, which was more than expected, investors got rid of technology stocks in droves.  The sell-off spread to other industries causing all 30 stocks of the Dow Jones to fall.  Between Monday and Friday of that week investors lost a total of 2 trillion dollars.  

2. 

September 17, 2001.  

Total Drop: 684 points (7.1%)

Following the worst terrorist attack in USA history on September 11, 2001, the market plummeted on its first day of trading, after being closed for one week.  

1.  

September 29, 2008. 

778 points (7.0%)

The USA 'House of Representatives' failure to pass President George Bush Administration's 700 billion dollar bailout plan triggered the biggest one-day point drop in the history of the 'Dow Jones Industrial Average'.   The market plummeted, with sellers frantically dumping stocks as fears mounted that Congress would be unable to come up with a speedy fix.  

I hope we never see these kinds of drops again, and 'recovery' is surely in the coming days.  

Thank you for reading, 

Ben here

Big Brown $100 Bill

Big Brown $100 Bill

If you are following this blog, and I sure hope you are, I wrote about the 'new' currency being introduced.  

I have attached the links below, for your reading pleasure.  If the link does not work, please copy/paste to the address bar. 

          New Note on Top

$5 Canadian Note

http://onlythebrave10.blogspot.ca/2014/01/5-canadian-note.html?m=0

Purple $10 Canadian Note

http://goodread10.blogspot.ca/2014/01/new-purple-10-canadian-note.html?m=0

$20 Canadian Currency

http://goodread10.blogspot.ca/2014/01/20-canadian-currency.html?m=0

Today, I will write about the $100 dollar Canadian note, since it was the first time I was able to get in my hands an 'old' and 'new' version of the bank note, at the same time.  I have taken pictures of the front/back of the note.  

The Canadian $100 note is currently the highest valued and least circulated of the five banknotes. 

The 5 notes are:

$5,

$10,

$20,

$50, &

$100. 

The current version of the $100 note was introduced into circulation in November 2011. 

          New Note on Top

This note is made of a durable polymer instead of the traditional paper notes.  

The note is brown in colour. 

The front design:

The front of the bank note features former Prime Minister, Sir Robert Borden

The back design:

The back of the bank note shows the discovery of 'insulin'.

The main reason for the 'new' currency is the security feature of having two transparent windows; which make the notes difficult to forge.  

Of the two windows, the first extends from the top to the bottom of the note and has holographic image.  The other window is in the shape of a maple leaf. 

Have you seen this 'new' currency yet?

Thank you for reading, 

Ben

10 Thousand Dollar Transfer

10 Thousand Dollar Transfer 

There is a 'Banking' amendment in the works in this country and most likely all the others in the coming years.  

          An old bank 

The Canadian government is trying to have a legislation passed into law by 2015.  The legislation would require banks to report if $10,000 or more of money is transferred into or out of Canada.  

Also, this legislation would take into consideration transactions made within 24 hour period, as one single money transfer, if this amount totals more than $10,000.

This 'New' law is proposed to decrease or stop the fraudulent banking activity by citizens.  And possibly to 'Tax' citizens further on these activities.  

More limitations for citizens? Or will it work for its intended purpose?   

We will wait and see. 

Sincerely, 

Ben

My Book Review of The Creature from Jekyll Island

My Book Review of 'The Creature from Jekyll Island'

Writer: G. Edward Griffin

The Federal Reserve System, the 'Fed' was conceived during a very secret meeting among an 'elite' group of men, on the island named 'Jekyll', off the coast of Georgia, in 1910. 

          Book cover

Mr Griffin analyzes the development of the Federal Reserve System. 

Also, he completes extensive research on the negative effect of the 'Fed' on our economy.  

The 'secret' meeting was held with six very important/elite men.  

Based on Mr Griffin's calculations, the six men held 1/4 of the entire world's wealth at that time. 

The men held interests of the following wealthy families of:

Rockefeller's, 

Morgan's, 

Rothschild's, and 

Warburg's; who met with the Republican Senator of 

Mr Nelson Aldrich at the Island.  

Mr Griffin takes the reader through a well organized journey; with 26 insightful chapters. 

The most interesting part of the book, in my opinion was, section II. 

This section presents a lengthy look at the monetary system, the gold based currency and finally the fiat currency. 

Mr Griffin presents a pessimistic view of USA with the 'Fed' and gives clear insight into abolishing this organization. 

In many areas of the book, Mr Griffin offers specific reasons why the 'Fed' should be abolished.  He gives the reader evidence and researched proof to back his claims.  

In conclusion, The book 'The Creature from Jekyll Island' is an interesting, easy read, that will intrigue all readers.  I did enjoy the detailed journey through the monetary system of the world and USA. 

I believe everyone should make time to read this educational and insightful book. 

Thank you for reading, 

Ben

And Enslave a Nation

And Enslave a Nation

I wanted to support a few of my previous writings, titled, 'Interest on Loan', 'Creation of Money', and 'Illegitimate and Absurd', with today's post.  

Therefore, I am trying to bring further attention on our failing 'monetary system', please find these writings in the web-pages of:

http://goodread10.blogspot.com/

or

http://onlythebrave10.blogspot.com/

and please read them.  

Now today's post:

Think about this quote for a minute, what do you think? True or not. 

Sincerely now, 

Ben

Bring Down a Country

Bring Down a Country

This will be brief, and I will elaborate in length in the future.  Nonetheless, today, I will state the 3 steps given by the Central Intelligent Agency (CIA) in bringing 'down' and/or 'changing' a countries ruling party, not in favour of USA's vision and future path.  

These steps are not known and kept 'top secret', however extensive research can be completed to find the information.  

1.  Economic Hit-Man:

These highly trained professionals negotiate on behalf of the 'World Bank' and 'Elite Groups' to bride the government of a country to enforce 'their' vision.  The bribing is done in the form of giving large loans to the country and large presents to the ruling party.  The large loans will need to be paid back, with ridiculous interest payments. 

2.  The Jackal:

If the 'Economic Hit-Man' are unsuccessful in bribing the country down by crippling the economy with billion dollar loans, the next step is to send forth the 'Jackal'.  This is a military person, commissioned to take out the ruling person.  

3.  Military Action:

If the 'Economic Hit-Man' and 'The Jackal' are successful; and this happens infrequently, the USA military will be authorized to invade the country.  A full attack by USA will be enforced on the 'innocent' country.  

As I mentioned, I will only only write a brief enlightening introduction here today.  And in the future, I will expand each point in length. 

Thank you for reading, 

Ben

Interest on Loan

Interest on Loan

Previously in this blog, I wrote about how money is created, the blog is titled 'Creation of Money', please look for it.  Today, I'd like to elaborate on this topic by writing about 'interest'. 

Just a quick re-cap; in our current financial system, money is created by debt, by the banks.  The money which was created, did not exist before, every time the bank makes a loan, they create money.  

These loans must be returned/repaid to the banks, plus, the interest.

The 'interest', which is charged at the creation of money, is a problem, since money is created from 'nothing', which would mean, more money will need to be earned by the borrower, to pay the interest.  

But, a 'big' but here, mathematically it is impossible to pay the loan back, plus interest, as  there is not enough money to go around to pay the 'interest' on all the loans outstanding.  

Can you see this?

Did I explain this concept properly?

Most borrowers, can manage to pay back their loans in total; which would be the loan amount, plus the interest.  However, not all borrowers will be able to pay off the loan and interest.  

In order for most borrowers to be able to pay back the loans from the bank, some will eventually seek 'bankruptcy protection', since there is not enough money to pay for the 'interest'.  

Once 'Bankruptcy' is in the picture, the banks will get back most of all of the assets of the borrowers.   

This really is how money is created, it is loaned out to existence.   

Thank you for returning back to this blog,

Ben

Illegitimate and Absurd

Illegitimate and Absurd

“Interest at the origin of money is illegitimate, absurd, anti-social, and anti-arithmetic.” --- Mr Louis Even

Writer, and social credit movement leader in Quebec, Canada in the 1930s. 

Below is a link of a short story written by him, titled 'The Money Myth Exploded'

http://www.michaeljournal.org/myth.htm

I wanted to write a blog today, linking this 'intelligent' Quote to my previous write-ups titled 'Interest on Loan' and 'Creation of Money'. 

Please look for these 'educational' write-ups in this blog. 

Thank you for reading, please visit again,

Ben here

Creation of Money

Creation of Money

"The process by which banks create money is so simple that the mind is repelled" - John Kenneth Galbraith, Economist

Thank you for visiting, 

Ben