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Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants, but debt is the money of slaves. -
“The East India Company, formerly known as the ‘Company of Merchants of London trading into the East Indies’ was given ‘royal approval’ by a charter from Queen Elizabeth I on 31 December 1600. The Company was granted a monopoly on all English trade east of the Cape of Good Hope.” One of the greatest demands the East India Company endeavoured to supply was that for tea. Indeed it was the demand for the “cups that cheer but not inebriate” that led to British involvement in the opium trade.
“By 1813 Britain was buying almost 32 million pounds (14.5 million kilograms) of tea. This presented the East India Company with problems as China demanded payment for tea in silver and Britain was left drawing on its own rather limited reserves of this precious metal. The East India Company resolved this problem by illegally smuggling Indian opium into China and demanding payment in silver. This could then be used to pay for the tea. It was China’s fierce resistance to this activity that led Britain to force China to buy the drug in the Opium War of 1840-1843”.
1) http://www.bl.uk/onlinegallery/features/trading/world5.html
2) J.M. Scott : The white poppy : the history of opium (p83) RCS.C.11t584 (Request in Rare Books Reading Room)
3) http://www.portcities.org.uk/london/server/show/ConNarrative.136/chapterId/2799/The-East-India- Company.html
“The East India Company secured to itself the monopoly of the opium trade, fostering the production of the drug by large loans or bonuses to the cultivators, who were required to bring all their opium to the warehouses or godowns of the Company”.
William Lockhart: The medical missionary in China : a narrative of twenty years’ experience (p. 401
Some of the injurious effects of opium can be seen in the extract here. Note the headings in particular. Headings on the following pages include:
6) Enfeebles the army
7) Loosens the bonds of society
8) Corrupts the morals of the people
Reply of the K’euen Keae Shay, an association of Chinese inhabitants of the city and province of Canton, for the promotion of the abstinence from Opium
RCS.A.11t584/2 Opium pamphlets (Request in Rare Books Reading Room)
The Yuan Dynasty that followed had their own paper currency, the jiaochao. Initially this was backed by silk or silver and was convertible. But it did not take long for the Yuan to print far more money than they had commodities backing it.
The currency was rejected and citizens had to resort to barter.
Ming Dynasty stated the game again > fiat currency > The baochao.
The government stipulated that this was the only currency to be used, however this decree was not widely enforced.
Chinese citizens learned not to trust government paper and preferred to use equitable [intrinsic value] silver instead. The more the baochao was inflated, the less the citizens wanted to use it.
When government officials refused to have their salaries paid in the scam The government finally recognized this reality and gave up on trying to force the baochao on the population. [1]
The Silver Standard became a trade mark to the beginning of a global economy with one historian noting that silver “went round the world and made the world go round.” [2]
As has been demonstrated, China dominated silver imports. China's huge demand of the silver was caused by the failure of making paper money "Hong Wu Tong Bao" and "Da Ming Tong Bao Chao" and the difficulties when making copper coins. After various status changes in China history, silver played a more important role in the market and became a dominant currency in China in the 1540s.[10] The silver flow into China passed through two cycles: the Potosí /Japan Cycle, which lasted from the 1540s to the 1640s, and the Mexican Cycle, which began in the first half of the 1700s.[11] The market value of silver in the Ming territory was double its value elsewhere, which provided great arbitrage profit for the Europeans and Japanese.[9] The room for arbitrage profit was further enlarged because of the silver content difference between silver ingots from Ming and Qing China and New World silver.[12] At the same time, China also made significant arbitrage earnings in the markets for silks, ceramics, and other non-silver goods, which formed a multiple arbitrage system.[11] In addition, the abundance of silver in China made it easy for the country to mint it into coinage and many methods and tools for identifying and measuring silver appeared to solve the problem caused by the difficulty in identifying and measure silver from 16th to 19th century.
Asian innovation - lack of precious metals [philosophy]
Paramount to understand China & Japan were dominant civilizations - economy and has long gone down the current experiment of western central banks today. Or this is a strategic plan? World War III upon the mass producers of the globe?
The Yuan Dynasty that followed had their own paper currency, the jiaochao. Initially this was backed by silk or silver and was convertible. But it did not take long for the Yuan to print far more money than they had commodities backing it.
The currency was rejected and citizens had to resort to barter.
Ming Dynasty adopted its own fiat currency > The baochao.
The government stipulated that this was the only currency to be used, however this decree was not widely enforced.
Chinese citizens had long since figured out not to trust government paper and preferred to use silver instead.
The more the baochao was inflated, the less the citizens wanted to use it. Eventually even government officials refused to have their salaries paid in it. The government finally recognised this reality and gave up on trying to force the baochao on the population.
Silver was restored to full monetary status.
is important to note that, while the British Empire as a world government lost the American Revolution, the power structure behind it did not lose the war. The most visible of the power-structure identities was the East India Company, an entirely private enterprise whose flag as adopted by Queen Elizabeth in 1600 happened to have thirteen red and white horizontal stripes with a blue rectangle in its upper lefthand corner. The blue rectangle bore in red and white the superimposed crosses of St. Andrew and St. George. When the Boston Tea Party occurred, the colonists dressed as Indians boarded the East India Company's three ships and threw overboard their entire cargoes of high-tax tea. They also took the flag from the masthead of the largest of the "East Indiamen"—the Dartmouth. George Washington took command of the U.S. Continental Army under an elm tree in Cambridge, Massachusetts. The flag used for that occasion was the East India Company's flag, which by pure coincidence had the thirteen red and white stripes. Though it was only coincidence, most of those present thought the thirteen red and white stripes did represent the thirteen American colonies—ergo, was very appropriate—but they complained about the included British flag's superimposed crosses in the blue rectangle in the top corner. George Washington conferred with Betsy Ross, after which came the thirteen white, five-pointed stars in the blue field with the thirteen red and white horizontal stripes. While the British government lost the 1776 war, the East India Company's owners who constituted the invisible power structure behind the British government not only did not lose but moved right into the new U.S.A. economy along with the latter's most powerful landowners. - R Buckminster Fuller / Critical Path
The refusal of King George to allow the colonies to operate an honest money system, which freed the ordinary man from clutches of the money manipulators was probably the prime cause of the revolution. - Benjamin Franklin
Willard starts reading Kurtz' dossier: MLPJC - 177TS007 TO: WILLARD, BENJAMIN L., Cpt. USA 0-1305301 U.S. Armed Forces Intelligence Hq. Nha Trang SUBJECT: Special Warfare Information -
"At first, I thought they handed me the wrong dossier. I couldn't believe they wanted this man dead. Third generation West Point, top of his class. Korea, Airborne. About a thousand decorations; etc, etc... I'd heard his voice on the tape and it really put a hook in me. But I couldn't connect up that voice with this man. Like they said he had an impressive career. Maybe too impressive... I mean perfect. He was being groomed for one of the top slots of the corporation." - Apocalypse Now is a 1979 American epic psychological war film directed and produced by Francis Ford Coppola
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