Transcript for scene 2 of the video " From Global Warming Delusion to Ice Age Climate Change Reality - Part 5 - Dynamics for Freedom" by Rolf Witzsche - Ice Age Ahead not Global Warming  

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In the mid-1600s in the Bay Colony of Massachusetts.

This inherent direct relationship between money and production underlies the principle that was pioneered in the mid-1600s in the Bay Colony of Massachusetts. There, a scrip system was invented by the colonists, most of whom were farmers, to finance the construction of the Saugus Ironworks with which the farming society created itself the means to advance its mechanization. The scrip became a form of money, and the money became valuable by the production it represented. Meeting the Ice Age Challenge requires nothing more than going the same course.

On this principle the Pine Tree Shilling was coined in 1652 that made the Bay Colony of Massachusetts independent from the money bags of empire. While all of this was soon outlawed by the King of England, the success of this principle, of society's self-sufficiency in credit, led a half a century later to the formal declaration of the independence of the American colonies from empire, breaking their status as prey to oligarchic predation. The resulting American independence movement that quickly spread through the colonies was partly inspired by the credit society principle, with which the Massachusetts Colony had prospered when the principle was applied.

 

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Published by Cygni Communications Ltd. North Vancouver, BC, Canada - (C) in public domain - producer Rolf A. F. Witzsche