Mind control is an amazing phenomenon. People will starve, steal and prey on each other as the physical infrastructure collapses under the imaginary weight of imaginary debt. The problem for the would-be owners of the planet is the growing awareness on the street that national governments need not borrow from anyone in order to issue currency. Lincoln’s greenbacks and american “continentals” were two wildly successful government-issued american currencies. Money is only a catalyst for economic activity. It doesn’t grow food, it doesn’t manufacture cars or toasters or computers. It only serves as a token of value among people who produce and consume these things. It’s a substitute for trust among strangers. Like mid-missouri, greece has people who want to work growing food and know how to do it, it has land and sunlight that can be used to grow food, and it has people who want to eat who themselves have skills that would prove useful in a “collectively autocatalytic” economy..
Money has allowed the creation of a far-flung web of mutual interdependence which is beyond webs of mutual trust. But when this public utility is not under public control, and worse, when the currency is actually debt-bonds owed to the wealthy, it’s a trap. National governments have the right and the obligation to create and spend debt-free money in accordance with the needs of their economies. Any nation which is self sufficient has no need of international trade and thus has no need for any strings attached to the management of its own currency whatsoever. The historical process by which the sovereign governments of the world were tricked into voluntarily accepting unpayable “debt” to the international banking cartel which controls the central “banks” (privatized money creation operations) which has laughably managed to largely gamble itself into bankruptcy via unregulated derivatives, will some day be an object of wonder and disbelief, not to mention ridicule. The further insult of bailing out the gambling debts of these scam artists with tax dollars so that they can turn around and loan the money back at interest is just the icing on the cake.
But in the meantime we have the immediate matter of withdrawing from the hallucination without getting a hangover. There is a fair and orderly way out, simply by mandating that banks do what most people thought they were doing all along: borrowing money from people in order to loan to other people at a slightly higher interest rate. Of course passing laws requires democratic control of the federal government, and that’s the catch. But if enough voters are informed on these basic matters it will be harder for politicians to ignore the issue.
The proposed American Monetary Act (www.monetary.org) would turn around this economy and usher in an era of prosperity this country hasn’t seen in a century. It would unleash our human potential and unseat the permanent government which has taken control of both political parties.
“Monetary reform is achieved with three elements which must be enacted together for it to work. Any one or any two of them alone won’t do it, but would further harm the reform process. The reform has its best chance of passage in this severe monetary crisis created by the privatized money system. Considering that the same establishment controls our weapons systems, this may be humanities only chance for reform, to stop the now obvious slide of our middle class into slavery or some form of “Disney Fascism.”
“First, incorporate the Federal Reserve System into the U.S. Treasury where all new money would be created by government as money, not interest-bearing debt; and be spent into circulation to promote the general welfare. The monetary system would be monitored to be neither inflationary nor deflationary.
“Second, halt the bank’s privilege to create money by ending the fractional reserve system in a gentle and elegant way. All the past monetized private credit would be converted into U.S. government money. Banks would then act as intermediaries accepting savings deposits and loaning them out to borrowers. They would do what people think they do now. This Act nationalizes the money system, not the banking system. Banking is not a proper function of government, but providing the nation’s money supply is a government prerogative!
“Third, spend new money into circulation on 21st century eco-friendly infrastructure and energy sources, including the education and healthcare needed for a growing and improving society, starting with the $2.2 trillion that the Civil Engineers estimate is needed over the next 5 years, for infrastructure repair; creating good jobs across our nation, re- invigorating local economies and re-funding local government at all levels.”
The upshot of all this is that the existence of the “national debt” was a political decision passed by politicians bought and paid for by the parasitic institutions which hold that debt. Passing that toxic law converting US dollars into debt bonds went under the radar for most people because it didn’t immediately cause financial upheaval (and need not have even in the long run if the “bankers” had been content to siphon off just a bit of cream from the top, instead of deliberately causing boom/bust cycles to take possession of ever-larger chunks of the country). By the same token, converting US debt to real money would not affect anyone’s fixed income IRA or interest-bearing bank accounts. What it WOULD do is eliminate the national debt and the need for a federal income tax, and force banks to be fair arbiters among competing economic flows, among many other things.
This country spends over $400B per year in interest on the national debt. And that with interest rates at an historical low. Just imagine what will happen when rates start rising. The impending catastrophe is right in our faces. It would be unfortunate if we waited until we look like Greece before we take the reins of power back from the thieves who stole it a century ago.