Banking Explained ... and Exposed by Thomas Brown
It's time for politicians to take meaningful action. The President needs to know that Americans have opened their eyes. Polls don't matter. Politics don't matter. He needs to accept that we know the games and we are done with them. He has the loudest voice n Washington besides money and we need his support and action on this first core issue.
Dear Mr. President,
A democratic sovereign nation is the highest authority of the people. The highest power of the nation's government was established at our inception. The people had the right to create money and circulate it for the needs of a growing nation. Properly designed, it would deliver perpetual prosperity for everyone. A sovereign nation with the inherent wealth and stability of the United States has no need to BORROW money from for- profit corporations. As a result, there is no need to tax its citizens to pay it back. It is systemically dysfunctional and destructive. We borrow money when we should be creating it. The nation is in shambles, the world is in chaos. Please adopt HR2990 as your mission to change America for perpetual and sustainable prosperity expanding freedom and justice for all to meet our national mandate. After that, the congress and entire domain of governments have to start educating themselves and quit prescribing how we should live. The entire human race needs a better understanding of itself, the environment we live in and a return to learning. The basics can no longer be to educate our people to serve corporate power. We must educate people about critical thought, systems analysis, government, freedom and justice, deep democracy, and human freedoms. It is obvious by any standards that we, especially our neoliberal and neocon friends, have lost the art of enlightenment and have been headed downhill again since the beginning of the last century with a couple periods of severe decline in the 20's - 40's, and 80's and beyond.
Other concerns from a recent article are excerpted between quotes :
By Nikki Alexander .
"Why is no one publicly questioning the power banks have to contract the economy with their monopoly control over credit? Why don't we reinstate sovereign money instead that is issued by the federal government, per US Constitution Article 1, Section 8? We wouldn't have a national debt because the government wouldn't have to borrow. We wouldn't be at the mercy of banks that withhold credit and contract the economy because our government could inject liquidity directly into the PRODUCTIVE economy. This basic truth is so obvious, there must be an unspoken agreement that explains why governments everywhere continue to borrow credit instead of originating the national money supply without incurring public debt. "
With all the hysteria about government debt and deficit spending, ostensible pretexts for annihilating the public sector, why is no one scrutinizing the source of the problem ~ the monetary system?
Large corporations and ultra wealthy individuals theoretically pay 35% in taxes, but in reality from 17% to zero, compared to 50% and 91% respectively, in 1960. Today, the federal government borrows from these two extremely affluent groups instead of taxing excessive wealth. The public pays them back, plus interest ~ an arrangement that fosters income inequality, concentration of wealth, federal debt and deficits. Why not reform the tax code? Concentrated wealth buys political influence to dictate tax policy.
Another major beneficiary is the World Bank-IMF syndicate of predators that engineer government debt as a weapon of mass destruction. The "sovereign debt crisis" being used in Europe as a pretext for "austerity" is classic IMF "structural adjustment" (economic train wreck) and has its counterpart in the US, masquerading as government deficit reduction. Neoliberal privateers follow a predictable blueprint: deregulate to clear a path for criminals, drive a nation into debt to confiscate state assets, privatize the public sector, loot the treasury, slash wages, destroy unions, steal pensions, cut social spending, raise taxes on workers and cut taxes on the wealthy. Sound familiar? The IMF has been using this blueprint since WWII to loot the world.
HR 2990 - The National Emergency Employment Defense Act of 2011 could be the catalyst for a global renaissance. The NEED Act eliminates private control of the monetary system and restores the government's Constitutional authority to create money without creating debt and spend it into circulation to rebuild the productive economy."
A purposely designed, unsustainable debt and debt service of billions on billions is literally denying Americans of life, liberty and justice as we cut imperative services for wars of choice with newly created borrowed money that should be our own money debt free. This is done to sustain a fraudulent middleman banking system that is unnecessary for the creation of new money.
The banking community has a long and seedy history of subverting the peoples' rights through the acquisition of illegal monetary power with repeated and successful attempts at private institutionalization. Money when institutionally abused as it has been since our inception creates global dysfunction bringing with it war, poverty, and a declining civilization. Banking's illegal operations were permanently institutionalized as the modern money system in 1913 within the privately owned Federal Reserve.
Mr. President, these are the unassailable facts now well documented by many different sources. There are many offering solutions but all agree on several realties that must be changed. Money cannot be created from nothing as debt to private companies. Legal, standardized, money is the lifeblood of society. It is the universal communication network and catalyst of wealth creation and society Money precedes wealth. Nothing is created until money is injected into an economy in sufficient amounts and properly maintained for sustained growth. That system is the sole property of the people of the nation. The nation's money needs functional design components. Simply said: 1.) money is created by the nation's treasury; 2.) it values that money based on value, balancing it with wealth; 3.) and it circulates that money directly in circulation for national operations and directly to citizens. Citizens are the ultimate wealth of the nation. All money circulated to citizen investment is inherent national value and balances on the national ledger.