Go Back   David Icke's Official Forums > Main Forums > Survival / Local Economies / Communities

Reply
 
Thread Tools
Old 24-09-2007, 12:59 PM   #1
hagbard_celine
Senior Member
 
hagbard_celine's Avatar
 
Join Date: Dec 2008
Location: Oxford
Posts: 4,364
Likes: 3 (3 Posts)
Default The Welsh Pound

Part of the modern banking system involves the familiar magnetic strip on the back of credit cards and the strange-shaped numbers at the bottom of cheques. Both are designed so that a computer can read them and the cheque font is the direct precursor to the all-too-familiar barcode. These were invented in the 1950’s; the magnetic strip originally being placed on cheques before the credit card was introduced. No patent was ever claimed on them, but in 1972 a strange court case began over the cheque font and magnetic strip. A man named Richard Williams was suing the international banking system for infringement of copyright. He was claiming over 20 billion pounds in lost royalties, 2 pence for every cheque ever deposited since the font and strip was introduced. The reason: He’d invented them! The case was doomed to failure, but it gave some publicity to a remarkable man who a few years earlier had given the Banks of England many sleepless nights when he began circulating perfectly legal Welsh banknotes.

Richard Williams was born in 1915 and lived his whole life in North Wales. He started out as a bank clerk in Midland Bank (now HSBC) in Llanrwst. Then he became fascinated with computers and wrote a book in 1955 called The Electronic Office which foresaw many of the communications technologies we’re familiar with today. One of the things he predicted was the use of computer readable numbers and security using coded information stored on magnetic strips. He built working prototypes and demonstrated them to banking directors from all over the world at conferences. He was unfortunately left in the wake of bigger and more powerful organizations willing to exploit his technology, but in his later years he came up with a scheme to get his own back; which inspired many patriotic Welshmen and gave us an idea that lit up the whole fallacy of the modern financial system. He printed an independent currency beginning in 1969: the Welsh Pound.

Williams set up a company called The Chief Treasury of Wales which the Board of Trade refused to register because they said the name was misleading. There could be no Chief Treasury of Wales; the only chief treasury was in London. Williams then changed the name to Y Prif Tresorfa Cymru and the Board approved it. There was one problem: Prif Tresorfa Cymru means “The Chief Treasury of Wales”! Lucky for Williams nobody at the Board of Trade spoke Welsh! He then went on to print a series of beautiful banknotes employing a local artist to help design them. He sent them off to the Inland Revenue to be stamped because until 1971 all banknotes had to be taxed with a tuppence of stamp duty. By some amazing administrative error Williams’ notes were approved and returned with the proper 2p stamp attached! By the time the Inland Revenue realized their fatal mistake it was too late. Y Prif Tresorfa Cymru was now licensed to print legal money… forever! If they refused in future all Williams had to do was remind them that they’d approved his previous banknotes; he had them by the balls and he knew it! Over the next two years, several dozen Welsh banknotes were printed and went into circulation: The one pound, fiver, tenner, five and ten shilling, and one extremely rare million pound note, the worlds’ highest valued banknote. Wales is the only country in the UK without its own paper money and the only gold-producing nation in the world without its own currency; but for a couple of years that was not the case. The Welsh Pound became a common sight in corner shops and Williams set exchange rates for Pound sterling as well as other currencies. He traveled to Switzerland and the USA to invest his currency there. He also made a fortune selling the notes to collectors. In 1971 when the British currency was decimalized and stamp duty abolished, the authorities thought they’d got the genie back in the bottle, but alas for them Williams found a loophole; simply changed his company name to “The Black Sheep Bank of Wales”, naming it after a famous local community bank from the 18th Century. He began printing new decimalized notes (he even had the cheek to put “Formerly Y Prif Tresorfa Cymru on all his notes!). The company brought out a 50 New Pence note which was very popular because the new 50p coin with its chunky size and polygonal shape was very unwelcome. The story of Richard Williams and the Welsh Pound is told in the book “Money Galore” by Ifor Wynne-Jones, friend and accomplice to Williams:
Eventually the notes ceased when Williams began concentrating on his copyright case, but the moral of this long story is that Williams was demonstrating an important principle: Money is not something physical that can be owned, it in merely a measure or scale to declare the value of something within the financial system. We don’t have to use the usual scale, your nation’s currency, if you don’t want to. If you choose to employ a separate currency there’s no reason why you shouldn’t, so long as all the people in the shops etc that you use accept it too. Like so much in life it’s a simply choice. We think we don’t have this choice because we don’t question the common fallacy that money has inherent value. This fact was lost on the deluded Iraqis who broke into the banks and stole all the money after the fall of Saddam. They really thought they were taking something of value when in fact the currency they were stealing was no longer legal tender under the new regime. They raided a bank to steal useless bits of paper! The success of the Welsh Pound came not from the fact that it had been approved by being taxed, but by the fact that with this approval people took it seriously and began using it. If people had understood the principle and decided to use it even without its license then it would still have been a success. What Williams can do, we all can do. Just one eccentric Welsh businessman, starting a small currency in a small local area almost brought the Bank of England to its knees. Imagine if we all started doing it!
__________________
"Lynda, you're sweet. From what I've seen of your world, do you think anybody votes for sweet?"
Doctor Who- Bad Wolf.

"Because he refused to compete in games for domination he was indomitable."
from The Dispossessed by Ursula le Guin
hagbard_celine is offline   Reply With Quote
Old 17-09-2008, 03:32 PM   #2
hagbard_celine
Senior Member
 
hagbard_celine's Avatar
 
Join Date: Dec 2008
Location: Oxford
Posts: 4,364
Likes: 3 (3 Posts)
Default

BUMP!

In light of recent events (http://www.davidicke.com/forum/showthread.php?t=35996) I'd like to bump this thread because it is very relevant.
__________________
"Lynda, you're sweet. From what I've seen of your world, do you think anybody votes for sweet?"
Doctor Who- Bad Wolf.

"Because he refused to compete in games for domination he was indomitable."
from The Dispossessed by Ursula le Guin
hagbard_celine is offline   Reply With Quote
Old 21-09-2008, 08:46 PM   #3
airkraft
Senior Member
 
airkraft's Avatar
 
Join Date: Jul 2008
Posts: 625
Likes: 0 (0 Posts)
Default

I`m from the area, and never heard of this before....amazing story, thanks Hagbard
airkraft is offline   Reply With Quote
Old 23-09-2008, 12:48 PM   #4
hagbard_celine
Senior Member
 
hagbard_celine's Avatar
 
Join Date: Dec 2008
Location: Oxford
Posts: 4,364
Likes: 3 (3 Posts)
Default

Quote:
Originally Posted by airkraft View Post
I`m from the area, and never heard of this before....amazing story, thanks Hagbard

You're welcome. It's really worth getting the book. It is amazing!
__________________
"Lynda, you're sweet. From what I've seen of your world, do you think anybody votes for sweet?"
Doctor Who- Bad Wolf.

"Because he refused to compete in games for domination he was indomitable."
from The Dispossessed by Ursula le Guin
hagbard_celine is offline   Reply With Quote
Old 24-09-2008, 07:56 PM   #5
airkraft
Senior Member
 
airkraft's Avatar
 
Join Date: Jul 2008
Posts: 625
Likes: 0 (0 Posts)
Default

I`ve just recieved a copy I ordered from Amazon.....will start to read it later

once again , thanks
airkraft is offline   Reply With Quote
Old 25-09-2008, 02:48 PM   #6
hagbard_celine
Senior Member
 
hagbard_celine's Avatar
 
Join Date: Dec 2008
Location: Oxford
Posts: 4,364
Likes: 3 (3 Posts)
Default

You're welcome. Hope you enjoy it.

Let me know what you think when you've finished it.
__________________
"Lynda, you're sweet. From what I've seen of your world, do you think anybody votes for sweet?"
Doctor Who- Bad Wolf.

"Because he refused to compete in games for domination he was indomitable."
from The Dispossessed by Ursula le Guin

Last edited by hagbard_celine; 25-09-2008 at 02:48 PM.
hagbard_celine is offline   Reply With Quote
Old 12-11-2009, 08:05 AM   #7
elixirsoo
Senior Member
 
elixirsoo's Avatar
 
Join Date: Jun 2009
Location: Farnborough, UK
Posts: 1,270
Likes: 5 (2 Posts)
Default

What a gem of a find! Thanks for this Hagbard, just ordered a copy.
__________________
Peace, Love, Unity & Respect to ALL

"Women and cats will do as they please, and men and dogs should relax and get used to the idea." -- Robert Heinlein
elixirsoo is offline   Reply With Quote
Old 15-11-2009, 01:55 AM   #8
andyh
Banned
 
Join Date: Oct 2008
Location: West Cork, Ireland
Posts: 18,036
Likes: 5 (2 Posts)
Default

A year and 2 months, no wonder I dodn't follow it all at first lol.
andyh is offline   Reply With Quote
Old 15-11-2009, 05:48 AM   #9
elixirsoo
Senior Member
 
elixirsoo's Avatar
 
Join Date: Jun 2009
Location: Farnborough, UK
Posts: 1,270
Likes: 5 (2 Posts)
Red face

Quote:
Originally Posted by andyh View Post
A year and 2 months, no wonder I dodn't follow it all at first lol.
Sorry for confusing you there andyh, I was being polite and didn't even notice the date on the thread.
__________________
Peace, Love, Unity & Respect to ALL

"Women and cats will do as they please, and men and dogs should relax and get used to the idea." -- Robert Heinlein
elixirsoo is offline   Reply With Quote
Old 16-11-2009, 07:53 PM   #10
veritasvoice
Senior Member
 
Join Date: May 2009
Location: Sol 3, Mutters Spiral
Posts: 819
Likes: 0 (0 Posts)
Default

Thanks for posting this, Hagbard.

I think the implications of this are very clear. If (as many of us believe) we are heading for a global financial collapse) many currencies lose value (biggest example: the US dollar), in all likelihood what will occur is that towns and regions start using their own local currencies again as a matter of self-regulating trade (perhaps competing currencies within local regions)...this scenario will also occur if people in the US start ignoring the federal government for whatever reason...which will break the back of the Federal Reserve through popular denial of their currency monopoly.

True free market currency...I hope that we see this world sooner than later.

Last edited by veritasvoice; 16-11-2009 at 08:27 PM.
veritasvoice is offline   Reply With Quote
Reply

Bookmarks

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump


All times are GMT. The time now is 09:53 AM.


Shoutbox provided by vBShout (Lite) - vBulletin Mods & Addons Copyright © 2018 DragonByte Technologies Ltd.