Money

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Money

Post by kclaytor on Fri Oct 28, 2011 7:28 am

There is a problem in this country that is not being addressed in the Declarations yet, and it is so important, it can so revolutionarily change everything, that it needs to be addressed. That is our monetary policy. I have been studying this stuff for about 6 months now. Our world can be a much better place if we get the banks stranglehold off our our money.

The movie, "The Secrets of Oz" will give you a good start on the monetary system and issues.
http://www.youtube.com/watch?v=7qIhDdST27g

There are many other movies and websites talking about these things as well.

Right now our government has to borrow the money it prints and electronically creates, and it has to pay interest on that money. It doesn't have to be that way. Abraham Lincoln printed Greenbacks to finance the civil war, and he did not have to pay any interest on that money. JFK was trying to print money without paying interest, but was assassinated before the printing started. No president has since dared to try to print money and avoid the interest.

After the government borrows some money (prints it, but pays interest on it), the banks are then allowed to loan out much more money than they actually have. This is called fractional reserve banking. It expands the money supply.

If we had the government print money, not as debt, but as government spending, the government would not have such large debts and the government would not have to pay interest on the money it prints. The government would require less taxes to be paid if it didn't have to pay interest to banks on the money it prints. Additionally, if we got rid of fractional reserve banking or at least made the reserve amount much larger, government spending could be used more for expanding the money supply instead of private bank issued debt being the way the money supply is expanded.

Fractional reserve banking is the reason the economy falls apart without constant growth. When the banks are loaning out more money than they have, that is like creating money, but they are only creating principal. They never create the interest money. It makes us more desperate to get a big enough piece of the pie to pay off our debts, but unless there is constant growth in the amount of debt, there starts to be not enough money for people to pay off their debts, and the defaults and bankruptcies start happening. If we grew our money supply with government spending instead of debt, small downturns would not be as devastating to our economy. We could live a more sustainable way without our economy falling apart.

Ending the Federal Reserve (a private bank) would be a good idea to go along with changing our monetary policy. A private bank should not be controlling our money supply. The government should do that function. It is an important function to make sure the money supply is increased or decreased when necessary to avoid inflation and deflation.

Thank you for paying attention to this very important issue. It can improve everything if we can stop the banking class from leeching so much money from the productive class.

kclaytor

Posts: 14
Join date: 2011-10-19
Location: CA-04 Alturas

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Re: Money

Post by JCB on Fri Oct 28, 2011 1:11 pm

"The Secrets of Oz" do identify some problematic aspects of our banking system well, yet is silent the most important facts and solutions. If you seek a solution to our debt-based money system, and end the Fed, you should support Dennis Kucinich's HR 2990

JCB

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Join date: 2011-10-28

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