Send a Tweet
Most Popular Choices
Share on Facebook 7 Share on Twitter 3 Share on LinkedIn Share on Reddit Tell A Friend Printer Friendly Page Save As Favorite View Favorites
Exclusive to OpEdNews:
OpEdNews Op Eds

The Kucinich Plan for National Economic Reform and Recovery

By   Follow Me on Twitter     Message Richard Clark       (Page 1 of 3 pages)     Permalink    (# of views)   14 comments

Related Topic(s): ; ; ; ; ; ; ; ; ; ; (more...) ; ; ; ; ; ; ; ; ; ; ; , Add Tags  (less...)
Add to My Group(s)

Must Read 9   Supported 8   Well Said 6  
View Ratings | Rate It

opednews.com Headlined to H2 7/25/11

Author 8235
Become a Fan
  (110 fans)
- Advertisement -

 Dennis Kucinich says Congress must direct the Treasury Department to issue US Notes (like Abe Lincoln's Greenbacks, but which would also be issued in electronic deposit form) to pay off the National debt.   He says the US must also gradually increase the reserve ratio that private banks are required to maintain from 10% to 100%, thereby gradually ending banksters ability to create money out of thin air and then loan this funny money out at interest.   Prize-winning documentary film maker Bill Still agrees and has produced several very persuasive films, web sites, books and articles that explain and support this idea of nationalizing the Fed, ending fractional reserve banking, and distributing a new, non-debt-based currency.

 

Congressman Kucinich's proposal is laid out here in its entirety.

 

- Advertisement -

In this bill, HR 6550 IH, Kucinich proposes a means by which we can:

  • create a full employment economy;  
  • provide for public investment in capital infrastructure;
  • provide for a reduction in the cost of public investment;
  • retire public debt;
  • stabilize the Social Security retirement system;
  • restore the authority of Congress to create and regulate money, modernize and provide stability for the monetary system of the United States, retire public debt, and achieve the goals just listed

This is a plan that prize-winning documentary film maker and author of No More National Debt believes has the potential of actually achieving all the goals just listed.   However, it is a very long bill, and is written in legalese.   What follows here, then, is my simplified and clarified version of attorney Pat Carmack's plan for monetary reform, which lays out all the essential principals in Congressman Kucinich's plan, and briefly provides the key arguments that Kucinich makes in his bill.   (Carmack's version of the idea was written at the special request of Bill Still, for presentation in one of his prize-winning documentary films, The Secret of Oz.)

For more about Mr. Still and his accomplishments, click here  and here.

- Advertisement -

 

Two Step Plan to National Economic Reform and Recovery

 

Step 1:   Direct the Treasury Department to issue U.S. Notes (like Lincoln's Greenbacks, but which can also be in electronic deposit format) to pay off the National debt.  

 

Step 2:   Gradually increase the reserve ratio that private banks are required to maintain -- from 10% to 100%, thereby ending their ability to create money out of thin air when they loan it out at interest.

- Advertisement -

 

These two relatively simple steps, which Congress has the power to enact, would extinguish the national debt, without inflation or deflation, and would end the unjust and parasitic practice of private banks creating interest-generating money every time they make a loan through fractional reserve banking.  

 

Next Page  1  |  2  |  3

 

- Advertisement -

Must Read 9   Supported 8   Well Said 6  
View Ratings | Rate It

opednews.com

Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)
 

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon Share Author on Social Media   Go To Commenting

The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Follow Me on Twitter

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Was Pat Tillman Murdered by an American Sharpshooter to Shut Him up?

New JFK assassination bombshells

Two U.S. presidents implicated by ex-CIA black-ops assassin

The cholesterol - heart disease scam: How the medical-industrial complex is raking in billions at our expense

Four Ticking Time Bombs That Will Soon Ignite a Revolution

The Ultimate Goal of the Bankster-led Political-economic Warfare Being Waged Against Us Is . . . ?