Monetary

The Problem:

• The public infrastructure of America is crumbling, and increasingly, becoming “privatized” and “outsourced”. 
• The American Society of Civil Engineers gives a D grade to our nations infrastructure, and estimates at least $1.6 trillion to bring it to acceptable levels.
• The average American household is going under financially.
• The average American business cannot compete with foreign competition.
• Rising prices of essential goods and services, rising at rates faster than wages and incomes, is eating away at people’s accumulated wealth and savings.

The Cause:

• Currently, the U.S. creates its money through a debt-money system. Specifically, a fractional reserve system of money creation, whereby virtually 99% of the nations money is created by lending it out into the society with interest, issued as loans by private banks, including by the private federal reserve banks; issued to private corporations, issued to individuals, and issued to various governmental entities.
• Not only does a profit on this vital monetary function go to a select national and international private corporate banking elite, but it is impossible to ever repay without creating ever increasing new debt-money.  If there were a means to repay this debt-money, then it would mean extinguishing our present money supply. Yet an economy requires some sort of money to function.
• The IRS, arguably not even an official government agency, was created as the collection agency arm for the Federal Reserve System, to ensure that the (unnecessary) federal debt could be collateralized by the combined income of every household in America.  The “color of law” is invoked to enforce this outlaw agency’s actions.
• The IRS is a corrupt, inefficient, albatross around the neck of the American public, exercising authority that the U.S. Constitution does not provide.

 

Possible Solutions:

 

 

• Collapse the now private Federal Reserve System, consolidate any essential operations and services that it currently provides within the Executive governmental branch of the U.S. Treasury where it was formerly housed, and where it rightfully belongs.
• Implement a version of the 100% reserve requirement (the “Chicago Plan“) of national non-debt money creation, spending money into existence for productive private and public enterprises. There are several competing versions of acceptable monetary reform proposals[1] now in existence, each advocating for the public issuance of money without interest, any of which could provide a 1000% superior system of money creation for this nation and its sovereign people.
• The Secretary of the Treasury would be authorized and directed to purchase, in open market operations or otherwise, all outstanding Federal Debt held by the public, with United States Notes; thereby the net National Debt is to be completely retired and replaced with United States Notes.
• All Federal Reserve Notes would be exchanged for U.S. Money (the dollar, issued by the public treasury, the Treasury Department, debt free).
• When the foregoing “100% Reserve” solution is completely implemented, the federal debt will disappear, the necessity of servicing the federal debt will disappear as well, and the function of an agency such as the IRS will be obsolete.
• The operations of the nation can and will be able to function wholly and completely without taxation, and especially without taxation upon the labor of the individuals. The need for governmental debt funding mechanisms, alternatives such as a “Fair Tax” system, will also be unnecessary.



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[1] American Monetary Institute’s The American Monetary Act  (see www.monetary.org; Money Master’s Monetary Reform Act (see www.theMoneyMasters.com)