Oct
17
Hey Wall Street Occupiers, Here’s Your Fix! #ows
October 17, 2011 | Comments Off
The fix is in, as they say. Most people don’t realize the “Federal Reserve” is not part of the US government. It’s often referred to as a “quasi-governmental” agency, but that’s just to obscure the real truth. It’s a privately owned system making that top 1 percent of the top 1 percent obscenely rich.
The fix to the fix? The American Monetary Act:
The American Monetary Act corrects and reforms the system with three elements:
First, the Federal Reserve system becomes incorporated into the U.S. Treasury. This nationalizes the money system, not the banking system. Banking is not a proper function of government, but control and oversight of the money system must be done by government.
Second, the accounting privilege banks now have of creating money through fractional reserve lending of their credit is stopped entirely, once and for all. Banks remain private companies and are encouraged to act as intermediaries between their clients who want a return on their savings and those clients willing to pay for borrowing those savings, but they may no longer create any part of the nation’s money supply.
Third, new money is introduced into circulation by government spending it into circulation starting with the $2.2 trillion the engineers tell us is needed for infrastructure repair and renewal. In addition, health care and education are included as human infrastructure. Everyone supports the infrastructure, but they worry how to pay for it. That becomes possible with passage of the American Monetary Act.
Highly recommended reading. Go here to read about Dennis Kucinich’s widely ignored bill to make it law. Then get the full background and the document itself.
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