Is this what we need to do to fix one of the most pressing issues facing the US/World today? This comes from The American Monetary Institute, a non-profit charitable trust for the independent study of monetary history, theory and reform. Stephen Zerlanga, who heads that institute, suggests that the US govt should absorb/abolish the Fed. He also suggests that we should halt the fractional lending system (where banks could lend out 8-10 times as much money as they have in hand, basically creating money out of thin air. Many people view the practice of fractional-reserve banking akin to a form of fraud, embezzlement or legalized counterfeiting. In place of the Fed Zerlanga suggests: "Money would be issued by government interest free and spent into circulation to promote the general welfare, and that substantial expenditures on infrastructure, including human infrastructure (education and health care) would become the predominant method of putting new money into circulation.[1] If money is a commodity to be traded, then all that matters is that the money is 100% backed by some commodity, like gold or silver for example. If money is credit, then it makes sense that bankers control it, as they do in the United States today. But if money is an artifact of law, whose value is derived from law (payment of taxes and legal tender laws) then Zarlenga argues it would only be proper for the government to issue, and control the money supply. Government-controlled money is also postulated to be more stable than credit money or commodity money." I think that would be a good first step! Lets stop being slaves to the big, private Banks. Take 15 minutes to watch this. This is something everyone should know regardless what party they follow: youtu.be/t5ayg3hbhoM
Posted on: Thu, 01 Aug 2013 06:11:33 +0000
Trending Topics
Recently Viewed Topics
© 2015