Among the many commodities that have been used as money -- such as seashells, tobacco, salt -- the tail feathers of the Resplendent Quetzl -- after whom the national currency of Guatemala is named -- may be the most picturesque. Its tail feathers are said to grow to two feet in length -- three times its body length.
"The Resplendent Quetzal was considered divine, associated with the "snake god", Quetzalcoatl by Pre-ColumbianMesoamerican civilizations. Its iridescent green tail feathers, symbols for spring plant growth, were venerated by the ancient Aztecs and Maya, who viewed the quetzal as the "god of the air" and as a symbol of goodness and light. Mesoamerican rulers and some nobility of other ranks wore headdresses made from quetzal feathers, symbolically connecting them to Quetzalcoatl. Since it was a crime to kill a quetzal, the bird was simply captured, its long tail feathers plucked, and was set free. Quetzalcoatl was the creator god and god of wind, often depicted with grey hair. In several Mesoamerican languages, the term for quetzal can also mean precious, sacred, or erected."
The name quetzal is an ancient Mayan term for tail feather, and the bird itself represents liberty. Ancient people believed the Quetzal would not survive in captivity, it would rather die than be held prisoner. So rather than killing these birds for their feathers, the Maya would pluck them and set the birds free to grow new feathers.
And although no primary sources are cited, StrayReality.com vividly retails the lore of the Quetzal feathers:
Exotic Aztec headdresses, created from the feathers of the male Resplendent Quetzals, were worn in ancient Aztec ceremonies.
They were worn only by the great Aztec Gods, Priests, Warrior Chiefs.
The Aztec tribes would capture the male Quetzals, and keep them alive, then they would remove their tail feathers, and then release the great birds, back into the rainforest, to grow new feathers.
In this way, they always had a growing supply, of beautiful Quetzal feathers, for their leaders and ceremonies.
The ancient Mayans, treasured the male's iridescent, emerald tail feathers, they were more valuable than gold, and if anyone was caught killing their sacred bird, they were punished instantly.
Today’s economic conditions reflect a fiat monetary system held together by many tricks and luck over the past 40 years. The world has been awash in paper money since removal of the last vestige of the gold standard by Richard Nixon when he buried the Bretton Woods agreement — the gold exchange standard — on August 15, 1971.
Since then we’ve been on a worldwide paper dollar standard. Quite possibly we are seeing the beginning of the end of that system. If so, tough times are ahead for the United States and the world economy.
The new Federal Reserve chairman, Janet Yellen, gave a policy speech today at Chicago, where, in a startling gesture, she mentioned three working individuals by name — Jermaine Brownlee, Vicki Lira, and Doreen Poole. They lost their jobs the Great Recession and have been struggling ever since. It was a refreshing, even affecting demarche by Mrs. Yellen, who has made a return to full employment a public priority. She underscored her sincerity by telephoning Mr. Brownlee and Ms. Lira and Ms. Poole before delivering her speech.
Publisher's Note: Originally released in June/July of 1991, this detailed report discusses Jacques Rueff's economic theories and applies them to modern economic events.
By John D. Mueller
Who Was Jacques Rueff?
... Trained in science and mathematics at the Ecole Polytechnique, Rueff devoted his first theoretical work to showing that the same scientific method applies to “moral” or “social” sciences like economics as to the physical sciences (Des Sciences Physiques aux Sciences Morales, 1922). In both cases, he pointed out, individual acts can be “indeterminate,” but the pattern of large numbers of individual acts can be predicted as a matter of probability. And so in economics no less than physics, as he later wrote, “A scientific theory is considered correct only if it makes forecasting possible.”
"Forerunners of man lived upon the planet several million years ago. But the unique, modern, social order of man – civilization – emerged only four to five thousand years ago. Historical and archaeological evidence suggests that the institution of money evolved coterminously with civilization. From the standpoint of the 100,000-year history of Homo sapiens, civilization and money are but young and fragile reeds. Today their very existence is threatened by financial disorder."
There is a lot of bad behavior in the global political and monetary world. Much of it comes in countries that should know better. Recep Tayyip Erdogan’s Justice and Development Party (AKP) easily won municipal electons in Turkey but the party’s candidates won far short of the nation’s votes.
Hostility toward gold has a long pedigree.
19th century depiction of Pliny the Elder courtesy of the Library of Congress
Gaius Plinius Secundus, commonly known as Pliny the Elder, in his The Natural History, Book 33, section 3, writes:
Would that gold could have been banished for ever from the earth, accursed by...