Getting back to bill HR2535. Although this bill deals with coins only, and although it emphasizes deficit reduction, it clearly reestablishes Congress' option (some would say, duty) to "coin (create) Money" -- Money being capitalized to indicate ALL forms of money, not just physical coins. If we can gain seigniorage from government coin creation, we can do so with government paper money creation - and have done so.
Representative Barr, whatever progressives may disagree with him on other issues, should be supported in his efforts to introduce truly sovereign money in extended form. The bill would establish newly designed coins in denominations from dimes to half dollars that would directly pump money into the starved real economy. Though this bill is not as explicit as former Representative Dennis Kucinich's tabled bill HR 2990, which would have recreated United States Notes to replace all privately issued money, and issued it for direct payment for a wide range of government expenses from infrastructure to social security, it does open that possibility. And it has a real chance, albeit small, of passing.
You can become a citizen co-sponsor here: http://barr.house.gov/services/citizen-cosponsor. Imagine if thousands of liberal to progressive co-sponsors signed on to support this Republican bill, along with the usual supporters from the Right. And imagine if we got into a dialog with Representative Barr and informed him of the way to gain even more seigniorage benefit. This would expand the monetary narrative well beyond the restrictive monopolistic Federal Reserve and might even lead to a reborn Greenback Party. At the very least, we would finally have a truly bi-partisan opportunity to do what Jackson, Lincoln, Kennedy, all tried and failed to do, create Sovereign American Money.
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