How important is this issue worldwide? Having private banks create money is the root cause of all world poverty, hunger, disease and misery. And until we fix it, we will never be able to make a dent in these other issues.
We can fix this. We can fix it in a matter of months -- a year at most. We can make our government the most financially sound in the world -- nearly overnight. The government can loan out all the money any state needs to build roads or schools or hospitals – interest free. Approximately half of a state’s infrastructure cost is from interest on borrowed money! When the money is repaid by the states it will all come back to the federal government, preventing inflation. All we have to do is to take back the power to control the quantity of money and put that power into the hands of the federal officials closest to the voting public -- namely the Congress of the United States.
Some say, “Well, those crooks in Congress will create too much money once they get the money power.” But Congress now “creates” all the money it wants! It just creates it as DEBT, which never gets paid back, and which we the people have to continually pay interest on. Instead of creating bonds -- or debt -- the government could and should be creating DOLLARS, interest-free.
More money for people.
Others will say Congress isn’t responsive to the people as it is.
Well of course not. Politicians are responsive to those with the power. Right now, the banks have the power. We have to take back the ultimate power of any nation – the power over its money. With the power of banks diminished, politicians will become responsive to the voters once again.
Do you know that only one zip code in this country provides nearly half of all the lobbying money to Congress? Guess what that zip code is? It’s 10036, the upper east side of Manhattan – the Golden Ghetto. That’s where the Mayor of New York lives. That’s where the Wall Street bankers live. They control the money, they control Congress.
Some will say that these solutions are something radical like socialism or worse. They are not. This is the most basic historic struggle for human freedom running back to the beginnings of time.
If we value the Founding Father’s dream of freedom -- an escape from serfdom by political self-determination --we have to conclude that creating our money is too important a function to be put into private hands. History has shown time and time again that that leads to nothing but plutocracy – rule by the rich – and ultimately slavery.
This privately-owned debt-money system has gotten so far out of control at this point that probably only a Biblical Jubilee year will save civilization from collapse.
Imagine in your own world. What if tomorrow you were told that all your mortgage debt and credit card debt was cancelled. That would certainly be more money for people, less money for banks. After the Jubilee, then we could take the money power away from the banks and change the Constitution to put it permanently into the hands of Congress.
But what about the banks? They are already failing? Let them fail. Government can issue it’s own money and credit. We don’t need their hyper-expensive compounding interest system. Banks or banking won’t go away. Everyone will still need loans and checking accounts. Some one will step in and provide those services. You’ll still go down to your corner bank to deposit your check. Your bank will still be there. Only the guts – the bank’s accounting system – the part you never see anyway – will change.
Jesus chased the moneychangers from the temple in his day. We should certainly do the same in our day.
Is that fair? Come on, big banks already own every large building in every city in the world. That should be sufficient! Let the people of the world have some money for a change. Give us some incentive to build a better world.
There is hope, especially here in America. History has shown that America has fought to create it’s own money for the last 300 years. In fact, in no other nation on earth has the population fought for it as successfully and with such determination over the centuries as America. All we need in the face of this oncoming first depression of the 21st century is a little education. We can make this the new civil rights movement – the new human rights movement. The big bankers now stand more exposed than ever before. Let’s use history to guide our path today.
This hasn’t been an issue since the time L. Frank Baum wrote the Wonderful Wizard of Oz. Why? Because after the William Jennings Bryan era, the bankers learned that in order to put the lid on this issue they had to buy up the nation’s press. And they did. But this won’t work in the Internet age. Television commentators are now asking just what is the Federal Reserve and where does their money come from? The answer is they make the money up out of thin air and then have the audacity to loan it to us. The interest that the government has to pay is where our income taxes go. That was the deal the Fed made with the government when the Federal Reserve Act was rammed through Congress on Dec. 23, 1913.
And what about the principal? The principle is never repaid, but the interest just keeps compounding. And it’s that interest that’s killing us. We’ll never be able to repay it. No nation ever has been able to do so – except for President Jackson in 1836.