Our banking system is a privately-owned, for-profit enterprise based on fraud. It is owned and run by the international banking cartel because congress passed a law in 1913 (the Federal Reserve Act) creating the FED (a privately owned bank) and legalizing/granting a monopoly on the creation of money to the private banker owners via the FED. Uh-oh. That's bad because it requires the US gov't to BORROW money AT INTEREST ...more »
Our banking system is a privately-owned, for-profit enterprise based on fraud. It is owned and run by the international banking cartel because congress passed a law in 1913 (the Federal Reserve Act) creating the FED (a privately owned bank) and legalizing/granting a monopoly on the creation of money to the private banker owners via the FED.
Uh-oh. That's bad because it requires the US gov't to BORROW money AT INTEREST for government projects and operations from the FED and incurs an ever-increasing federal debt. Simply put, this is an economically and ecologically unsustainable system. It is an enormous monopoly game whose endgame, where the bankers have all the money, property and control and everyone else is broke, is what we are experiencing now. Our fraudulent banking system is at the root of our current economic meltdown. The interest on the debts has grown so large that the citizens and the country simply cannot pay anymore. Current government actions, the bailout and other schemes put forth by (guess who) bankers are aimed at propping up the current system as long as possible, instead of actually reforming banking so that it works for everyone.
WHAT WE SHOULD DO:
• Repeal the Federal Reserve Act and make debt-free treasury money the legal tender of the realm.
If the government can write a check, they can issue money--it's all done with the stroke of a key these days...
This would break the bankers' monopoly and the stranglehold they have on the US economy.
• Pay off the federal debt to the FED with all the worthless Federal reserve notes traded in for US Treasury Notes.
This would retire the debt and we would no longer need to spend our tax money paying interest on it.
• Create Treasury banks to lend to businesses and individuals, using the interest on those loans to fund gov't
operations and projects that enhance the well-being of the nation, -- education, research, infrastructure, etc.
• Form an Monetary Committee to oversee all banking activites including sales of deriviatives and draft
Ellen Brown, J.D., author of "The Web Of Debt and What We Can Do To Break Free" to oversee the
implementation of the 3 suggestions above.
I admit, I have only scratched the surface of these issues. These suggestions may not be the full answer to our woes but taking these steps would go along way toward straightening out our banking system and building a healthy and sustainable economy. An excellent analysis of how banking really works and affects all of us can be found at www.webofdebt.com, Other resources include the videos/films "From Freedom to Facism", "Money As Debt" --if you can still find it on the internet. It has been banned from google video and is expected to be removed from YouTube soon. And the video/film "The Money Masters".
All right, I am going to put WHY THIS IS IMPORTANT here too.
It seems like the why part doesn't get shown in the idea once it is submitted. If you see it twice, I apologize.
This idea is important because it would restore oversight and control of the money supply to the government on behalf of the people of this country. It would allow us to pay off and retire the federal debt, paying it off with all those traded in worthless federal reserve notes. It would provide competition for private banks, breaking the bankers' monopoly of money creation and their stranglehold on our government through the creation of recessions/depressions by manipulation of the availability of credit. Were the government to lend debt-free treasury money to businesses and individuals, interest on such loans could be used to fund government operations instead of taxes or to fund infrastructure, education, health care for everyone and other programs for the common good instead of being shoveled out of the economy into the pockets of private bankers. It would solve the "credit crunch". If the government decided it was time to make loans available there would be no bankers in between saying "Sorry! We're gonna use the bailout money to buy up other banks."
And I notice there is no category for ideas about banking. Why the hell not? We're in a depression for chrissakes! We SHOULD do something to fix the system.