As with our national debt, and to the extent this borrowed infrastructure money is never paid down, the interest slavery is then perpetual - as it has become on our ten trillion dollar "public" debt. Interest alone on "our" debt now absorbs nearly all tax revenues, necessitating yet more borrowing for criminal wars and to pay the Bush regime contractor cheats, all while the economy is further exported under an undemocratic "free trade" regime.
We borrow and spend, let the rich pay lower taxes, and continue to pay the debt-money interest... until the collapse. We then screw more generations with yet more such private debt-money leading to a currency collapse, and the further enrichment, control, and power of the Wall Street investment bankers who own the Fed. And presto, then they propose to substitute the Amero!
When are we going to wake up and escape from this prison? Is there anybody in Washington not working for the bankers? Are there any elected representatives who intend to actually represent the people and free them from the debt-money cartel – if only to fix our bridges and railways?
As a long-time advocate of a constitutional Public Central Bank (see PublicCentralBank.com) I am appalled at the lack of even a mere discussion of the idea. With the exception of Ron Paul, no one in Congress or the major media seems to have either the balls or the intellect to take on this challenge. (exactly the reason we must separate major media ownership from editorship – see EditorFreedom.com).
While there are many good and smart people in our chambers, debate on the debt-money issue in earnest has yet to emerge. Why?
Do we have to wait for the "Greater Depression" to do anything? Can we not act now to take back the money power our founding fathers gave to us – precisely to prevent the interest-bearing private central banker debt ruin experienced in Europe for a century before 1776.
Clearly, the 1913 Federal Reserve act remains a symbol of what "democratic" corruption can do to us, and how our representatives can be bought off to do anything big money tells them to do. It is almost a hundred years now since that unconstitutional calamity and now we are staring in the face of a catastrophic, predictable, debt-money-driven, demise – i.e., one already underway with the collapse of our currency due to idiotic "free trade" policies serving to carve out our ability to pay our debts, maintain our economy and independence, and force us to pollute the earth with fossil-fuel delivered "goods" traveling many thousands of miles from market.
Can we get anymore stupid or irresponsible... or enslaved?
A public or national infrastructure bank, with labor and capital equally represented, along with state governors, overseen by Congress, and funded via the Treasury Department can be established and financed under the powers of Congress. Congress may authorize it to create Treasury funded debt for the sole purpose of financing approved infrastructure projects - the direct costs, the inputs, and all functions related to accomplishing the job.In these efforts we will then have examples of Treasury-direct loans (whether no-interest or low-interest) actually creating productive assets and improving the quality of our lives. This as opposed to private banking cartel debt-money loans (backed by the "full faith and credit of the taxpayers) given to speculators and hedge funds for predatory and utterly unproductive purposes – all of which screw up the marketplace by reward the speculators and not the producers, and serving to steal and ruin the savings of the American people. Had enough of this chaos?
We’ve done this before, and there is no reason not to begin again – free of the Federal Reserve debt-money machine. During the depression years, we built a massive amount of infrastructure in the form of bridges, schools, water systems, roads, and parks - all of which we still enjoy today. Today’s needs are much the same along with mass transit, mag-lev trains, and energy independence projects.
All we need is the will... and the leadership.
Kent Welton,
PublicCentralBank.com
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