Tea Partier´s don´t get it, Paulian´s don´t get it, and End the FEDDer´s don´t get it. Come to think about it. Any so called sound money system subject to interest will terminate itself under insoluble debt. Even a gold standard. Besides that a finite supply of anything cannot support our industry.
The miracle your looking for is: MATHEMATICALLY PERFECTED ECONOMY. Trust me, it will take the banksters out for good.
Google it. Google Mike Montagne. Or check my Youtube channel.
As I have described, the fatal fault of the imposed monetary system is interest; and all further faults merely result from further failure to solve inflation and deflation. The Austrians, and Mr. Paul in particular, not only advocate interest; they advocate ELEVATED RATES OF INTEREST.
Effectively, what they want is to remove the embossed letters which now say “Federal Reserve Bank,” and replace them with “Ron Paul’s ‘COMPETING’ Bank(s)” — a principle which he refuses to debate, further define, or justify. Of course, any ostensible “competition” would ostensibly, on the contrary, drive interest rates down. But Mr. Paul tells us that we wouldn’t have borrowed ourselves into this debt mess if higher rates of interest had discouraged excessive/reckless borrowing.
Mr. Paul has never done the math: he tells you that all of you are going to benefit somehow therefore — oh and we so willingly believe this preposterous notion, don’t we? — he tells us we will benefit paying perhaps 17% interest on our homes than 5%. Sounds really like a good idea, doesn’t it? Especially since the rate of interest is the rate of multiplication of artificial indebtedness — higher rates of which instead necessitate greater rates of borrowing to maintain a vital circulation.
Unfortunately, most people who exalt Austrian “economics” hardly know the first thing about it. They reject math — most of which is little more than counting — as if you could understand otherwise; and they could have possibly determined solution otherwise. In no legitimate discipline or walk of life does such reckless abandonment of principle hold.
But Mr. Hayek, God of the Austrians tells us why they advocate interest and the current banking model — which are our very problem. See Hayek’s article at Mises org: “A Free Market Monetary System,” I think it’s called. Anyway, he thus justifies interest, that it makes banking “an extremely profitable business.”
That’s right. There IS no justification, just an outright confession of the motive.
We stand for real solution.
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End the Fed and let Congress issue currency to pay off our national debt. As this circulates through the economy we will transition to full reserve banking, so bankers can no longer loan money they don't have. This will result in no increase or decrease in the money supply. This is the Money Master Monetary Reform Act. It also calls for withdraw of the U.S. from the international central banking system - the World Bank, IMF, and BIS. Then once the risk of commodity price manipulation is sufficiently mitigated we can go to a commodity backed currency. Go to http://www.themoneymasters.com/monetary-reform-act/ to find out more.
The original question,"
YOUR ANSWER WOULD BE GREAT,if stated as," End (read..Amend) the Fed and let Congress issue (read..let The Amended Fed LEND for starters 3% /24 years) currency to pay off our national debt(read...and bring all loans to 100% reserve). As this circulates through the economy we will transition to full reserve banking, so bankers can no longer loan money they don't have ( read...and no longer be able to charge interest on our own money)."
THE PERFECT ALL INCLUSIVE SOLUTION as in www.justaluckyfool.wordpress.com
READ IT, CHALLENGE IT,POST IT !
Before the Federal Reserve System we had cycles of inflation and deflation, but they were neither as severe nor as prolonged. It is severe, prolonged cycles of inflation that result in the transfer of wealth from the poor and middle class to the rich - the rich can hold out longer. A system in which the issuance of currency is limited and tied factors that reflect our true economy, such as population and a productivity index, is not perfect, but it is better than the fraudulent system now in place.
The Money Masters proposes we end, not amend, the Federal Reserve System, and have Congress issue currency at a limited rate. Right now there are no limits on the amount of money the private central banks can issue. This would not entail the borrowing or lending of money. Regards
Please read "The All Inclusive Solution" and challenge it,perhaps improve it.
As for "have Congress issue" that is already in place.
The mandate is already in place "to regulate the quality and quantity" (FED Reserve)
YES,50% of the problem is...the private banks are allowed FRACTIONAL RESERVE LENDING
which is the same as "printing" making currency and they are allowed to exploit the people by using "the most powerful force in the universe " compound interest against the same people whose money they are creating!
The new Federal Reserve Bank would put money in circulation -not by spending it,rather by LENDING IT.This would allow THE PEOPLE TO USE "the most powerful force in the universe" for the "general welfare,life,liberty and the pursuit of happiness"
READ IT ! PROVE ME A FOOL,rather than justaluckyfool !
"have Congress issue" is in the constitution, but we do not follow this. Instead we allow a private bank to issue and regulate currency. That is the problem. The Money Master's plan calls for Congress to do what is constitutionally mandated. It does not call for the government to get involved in banking. This is not the function of government. Throughout history it has been shown that powerful, central control often leads to tyranny - the last thing we need is to expand the role of the federal government.