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Six serious defects in our Money and Banking System ... AND HOW TO FIX THEM ...
These defects need correcting if we are to realize the potential of our enormous, national, natural wealth.
1) Hardly anyone understands Money and Banking and it certainly looks like the Federal Reserve likes it that way. This lack of understanding is based on dis-information and mis-information that has been consistently spread for almost 100 years now -- since Congress wimped-out and passed their Constitutional duty to Create Money and Regulate the value thereof to The Fed. WE MUST START AN AGGRESSIVE EDUCATIONAL PROGRAM. See “Education” at the following link << http://www.primeronmoney.com/silverbulletplan.html >> and then come back here.
2) Our government borrows money regularly every day, in spite of the fact that it has the Sovereign Right to create whatever money it needs to meet the needs of our country and thereby save the $400 Billion Dollars in interest we pay to creditors every year. Why are they borrowing money when they can create it at no cost? See: Abraham Lincoln’s Monetary Policy << http://www.primeronmoney.com/lincolnsmoneypolicy.html >>WE MUST START AN AGGRESSIVE EDUCATIONAL PROGRAM.
3) Many serious people think that creating money always causes inflation. That is totally bogus. If the government lends newly created money to people who have good collateral and who will use that loan to create more wealth than the dollar-value of the loan -- the created money will not create inflation. When the borrowers pay the loan back, the debt is cancelled, and the wealth remains behind -- making us all wealthier. WE MUST START AN AGGRESSIVE EDUCATIONAL PROGRAM. We believe this needs no link or further argument -- it is self evident.
4) We believe the collapse of the Money and Banking System of 2007, 2008, 2009 and continuing ... was started directly by allowing lending banks to sell off their questionable mortgage loans to investment bankers, led by Freddie Mac and Fannie Mae, who bundled the mortgage loans into incomprehensible financial instruments that nobody understood, but apparently everyone bought and regretted. Without that selling-off of loans -- the collapse would not have started, because there would have been no pie-in-the-sky fuel for the firestorm that came very close to destroying our economy. WE MUST START AN AGGRESSIVE EDUCATIONAL PROGRAM. We believe this needs no link or further argument -- it is self evident.
5) We must start keeping our national books in accordance with Generally Accepted Accounting Principles (GAAP) and a double-entry bookkeeping system that (a) keeps accurate records of income, expense, assets and liabilities and (b) depreciates assets on a realistic depreciation schedule. Until that is done, we will never understand where we are financially and will be constantly overestimating our national losses. Every major business in the world follows these rules -- why not the government? WE MUST START AN AGGRESSIVE EDUCATIONAL PROGRAM. We believe this needs no link or further argument -- it is self evident.
6) Our Money and Banking System obviously violates our Constitution, which clearly gives Congress the power and obligation to create money and regulate the value thereof. In 1913, Congress gave that right to the Federal Reserve System which is large group of intertwined, privately owned corporations that have no formal relationship with our government and and are therefor not subject to the checks and balances which are basically the foundation of our Constitution. Neither Congress, nor the President can tell the Federal Reserve System what to do as they run our Money and Banking system. Nobody -- not even the courts can insist that the Federal Reserve undergo a financial audit. They are, quite simply, above the law. This obviously must be changed as soon as possible. The attached plan suggests one way WE THE PEOPLE can again take control of our Money and Banks. By the way-- under most state laws, corporations are required to act only in the interest of their stockholders and unless their charter allows them to work for the common good of the American people -- they would be violating the law if they worked for that common interest.
Addendum to the above six / Let's have all the Wall Street Banks find work that is less dangerous to our financial well-being. They should move to the private investment sphere, where they will work with their money and not money that belongs to the Sovereign Money Banking System, which is owned by the American People. That is: Created Sovereign Money should not be available for investment Bankers to use for their own private investments or investments in which they have a financial interest.
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