Public Infrastructure Bank
- Rebuilding America With Interest-Free Money -
"Interest-free loans for public infrastructure have been deployed several times, even in this country. It was done by the Colonies, by the founding fathers. Later, during the prolonged depression of 1837-43... Abraham Lincoln issued similar interest-free notes during the civil war. More recently, the Federal Reseve cooperated with the Treasury duringWorld War II to yield virtually the same effect, when the government borrowed money at less than 1 percent interest."
E. Ray Canterbury
"The privilege of creating and issuing money is not only the supreme prerogative of Government, but is the Government’s greatest creative opportunity. By adoption of these principles, the taxpayers will be saved immense sums of interest"
It is becoming apparent to Americans that our country is trapped within the banker’s "Federal" Reserve cartel, with its private debt-money creation entitlement manufacturing our virtual imprisonment and bankruptcy.
As the economy spins downward due to immense private, unproductive, debt-money creation and unconscionable interest rates for consumers it is high time we escape from the clutches of the bankers who effectively run our economy, politics and media to suit their own debt-money interest and fee generating purposes.
Congress must act to free the nation from interest-bearing debt not issued by our Treasury department, and dedicated to productive purposes – like rebuilding our sagging infrastructure. It is time for a Public Infrastructure Bank using interest-free, Treasury-created, money and loans.
The price tag for repairing our crumbling infrastructure has now reached a figure of 1.6 trillion or more. The interest that would be paid to private "Fed" debt-money bankers for this amount would be astronomical as it already is for all our continually rolled over national debt. With gasoline prices on their way to four dollars a gallon today the idea of paying for infrastructure via raising gas taxes another 25-50 cents is surely punishing the poor and middle classes again, and further crumbling a consumer-based economy.
We cannot go this route, we must issue our own money and put our people back to work... in productive, useful, enterprises that bequeath benefits to future generations.
We have the Constitutional power to create our own money and fund our own projects, only Congress stands in the way of our freedom and rescue from financial ruin and slavery to bankers – who have no interest in the public interest, unless they loan us their debt money.
The scandal today is seen in cities and counties who have been whipsawed by the economy and whose falling tax revenues put their bond interest payments in jeopardy and thus their credit ratings and ability to refinance. Today, we are seeing municipal bond refinance quotes as high as 15-20% interest – usurious terms sure to put many cities in bankruptcy and ensure a depression.
This is a complete scandal and the very reason we are already seeing a partial nationalization and bailout of banking in this country, all in order to save us from the mess the banking industry and Fed have created with their monetary policy. We cannot have more of the same.
A national infrastructure bank is needed, but not the one proposed by Senate Banking Chairman Sen. Christopher Dodd and Sen. Chuck Hagel. The Dodd-Hagel National Infrastructure Bank Act of 2007 is claimed to be a "bipartisan" (does that mean the people join with the ruling elite?) measure that addresses the critical needs of our country’s major infrastructure systems. They claim their "legislation establishes a new method through which the Federal government can finance infrastructure projects of substantial regional or national significance more effectively with public and private capital."
This is a bill which has emerged specifically to fight off the attempts to regain public financing powers. Moreover, the "new method" in their bill does not mean with our treasury money creation powers, but simply another high-interest, debt-money, structure funded by the same old "Federal" Reserve cartel which, over the long haul, forces us to pay for everything two or three times over due to the interest incurred. You can also be sure appointments to this "national" bank will be the same old beltway bankster hacks and ruling-elite controlled insiders.
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