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The Enormous Potential of Interest-Free, Government-Issued Currency, Part 2

By   Follow Me on Twitter     Message Richard Clark     Permalink
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Under the Constitution, Article I, Sec. 8, our government has the sovereign power to issue money and spend it into circulation to promote the general welfare -- through (for example) the creation and repair of infrastructure, including human infrastructure (health and education).   This we could be doing rather than allowing banksters to use money, taken from taxpayers, for speculation, as has historically been done, thereby periodically causing one crisis after another.   In order to prevent our nation's next financial debacle (or a terrible worsening of the one we may have not yet fully passed through), our lawmakers must now reclaim that power to issue money, as granted by the U.S. Constitution!

 

Unhappily, but not surprisingly, mankind's experience with bankster money-creation has been a long history of fraud, mismanagement and even villainy, and so it is that the present crisis could eventually turn into the worst yet!  

 

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Banking abuses are pervasive and self-evident.   Major banks and companies focus on gaming (abusing) the money system instead of focusing on how to assist and facilitate manufacturing and other production.   Billions of dollars have been stolen, while trillions more have been shamelessly grabbed (misallocated) in so-called bailouts (secretly made, as most of them were)!   Much of our political leadership (heavily funded by financiers), instead of focusing on protecting our citizenry, seems to be willing to take the role of patsies, as they look(ed) the other way while financiers proceed(ed) to rape America.

 

Private money creation through "fractional reserve" banking fosters an unprecedented concentration of wealth which ultimately destroys the democratic process and promotes military imperialism.   (In a real democracy, people never allow any vote to go to war;   only the rich and politically powerful "vote' to go to war.   And why do they do that?   Because most of them generate huge profits from it.

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One result of this lack of real democracy and the laws that this allows to accumulate:   less than 1% of the population now claims ownership of a majority of the nation's privately held wealth.   Meanwhile the maintenance of the nation's vital infrastructure continues to be ignored.   And now, as our infrastructure continues to fall behind that of most European countries, the American Society of Civil Engineers has given the grade of D to our crumbling infrastructure and says it will soon deserve a D-,   concluding that $2.2 trillion is needed to bring it to safe levels over the next 5 years!

 

Infrastructure repair could provide quality employment nationwide, for millions now unemployed or underemployed.

 

There is a pretense that government must either borrow or tax to get the money for such projects.   And yet it is well known (by some) that the government can directly create the money needed, and simply spend it into circulation for such projects, all without inflationary results!   A reformed monetary/banking system can make this happen NOW!   Read what Congressman Wright Patman had to say about this way back in 1941.

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How to do it

 

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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...)
 

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