Public Money

vinnuplagg

"Reducing U.S. Debt and Creating Jobs Through Public Control

of Our Money System

The irony is that these three provisions would institutionalize

what most Americans falsely believe already exists:

(Wrong on all counts)

-¯-

That the Federal Reserve is public.

That banks only loan money that they possess.

That the government creates our money.

Wrong on all counts."

Right

The Federal Reserve is a private enterprice.

Banks only loan money they make.

The privat bank creates our money.

Right

http://www.huffingtonpost.com/stephen-zarlenga

One of the few exceptions is Rep. Dennis Kucinich (D-OH),

who during the last Congressional session introduced H.R. 6550,

The National Emergency Employment Defense Act.

A revised version is expected to be soon reintroduced.

Americans would be wise to rally behind it.

Decades of distortion and deception can be remedied by this bill.

Public control of the money system is not a new practice.

The American colonists issued "Continentals" and the Lincoln administration "Greenbacks"

to fund the Revolutionary and Civil Wars, respectively

-- all debt and interest free.

More than 200 prominent economists during the Great Depression of the 1930s developed and endorsed "The Chicago Plan"

-- which declared that only the government should create money -- to address that crisis.

Ask your U.S. representative to cosponsor this act when it is reintroduced.

Ask your two U.S. senators to contact Rep. Kucinich about becoming a Senate sponsor.

This bill alone cannot solve all our current economic problems.

But it will end the private/corporate control of what should profoundly be a public democratic function of any society

-- issuing the nation's money.

Maybe more importantly, the act will serve as a beacon of hope

to a beleaguered citizenry who are seeking long-term solutions to unemployment, debt, crumbling infrastructure,

and need to take power over their lives and their society.