The Financial Crises can be tamed.

Jesus and the Money Changers

Painting by Valentin de Boulogne
Painting by Valentin de Boulogne

The Money Reform Act

There is a video that contains the most important and essential information as to WHY we are in this financial crisis. It goes back to when Jesus threw the "money changers" out of the temple, then gives a detailed, non-biased exceptionally thorough account of how through the efforts of a small group of extremely wealthy families (the Rothchilds, Rockefellers, J.P Morgans etc) influenced three centuries of manipulation of national and international monetary funds by creating privately owned monopolizing banks including our own Federal Reserve Bank and the Bank of England.

It is 215 min long - 3.5 hours of critical economic history studded with quotes from our nation's founders and presidents. I urge you to view it and review it. There are links to the final proposition to a real solution called the Monetary Reform Act that gets to the core of our world financial crises and abolishes the Federal Reserve Bank and its practice of fractional reserve lending (all explained in detail in the video). The video loads easily and you can advance to any section without waiting for a complete download. It is awesome. The market continues to fluctuate wildly. Our money is being siphoned off by a calculated action to further enslave the American people and its leaders in this carefully designed scam to give the Federal Reserve even more power over our spending and credit. WE MUST WAKE UP - get informed, and demand that our system be truly reformed. I don't care which party achieves this - it is imperative for our nation's, indeed the world's future, that the Money Changers - empowered and owned by the Federal Reserve, The IMF, BIS and United Nations, be shaken from their private money tree immediately.

The Money Reform Act in Short

Monetary Reform Act - A Summary (in four paragraphs)

This proposed law would require banks to increase their reserves on deposits from the current 10%, to 100%, over a one-year period. This would abolish fractional reserve banking (i.e., money creation by private banks) which depends upon fractional (i.e., partial) reserve lending. To provide the funds for this reserve increase, the US Treasury Department would be authorized to issue new United States Notes (and/or US Note accounts) sufficient in quantity to pay off the entire national debt (and replace all Federal Reserve Notes).

The funds required to pay off the national debt are always closely equivalent to the amount of money the banks have created by engaging in fractional lending because the Fed creates 10% of the money the government needs to finance deficit spending (and uses that newly created money to buy US bonds on the open market), then the banks create the other 90% as loans (as is explained on our FAQ page). Thus the national debt closely tracks the combined total of US Treasury debt held by the Fed (10%) and the amount of money created by private banks (90%).

Because this two-part action (increasing bank reserves to 100% and paying off the entire national debt) adds no net increase to the money supply (the two actions cancel each other in net effect on the money supply), it would cause neither inflation nor deflation, but would result in monetary stability and the end of the boom-bust pattern of US economic activity caused by our current, inherently unstable system.

Thus our entire national debt would be extinguished – thereby dramatically reducing or entirely eliminating the US budget deficit and the need for taxes to pay the $400+ billion interest per year on the national debt - and our economic system would be stabilized, while ending the terrible injustice of private banks being allowed to create over 90% of our money as loans on which they charge us interest. Wealth would cease to be concentrated in fewer and fewer hands as a result of private bank money creation. Thereafter, apart from a regular 3% annual increase (roughly matching population growth), only Congress would have the power to authorize changes in the US money supply - for public use -not private banks increasing only private bankers' wealth. http://www.themoneymasters.com/


Economic Perils and Solutions

Capitalism and Freedom: Fortieth Anniversary Edition
Capitalism and Freedom: Fortieth Anniversary Edition

How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book, Milton Friedman provides the definitive statement of his immensely influential economic philosophy—one in which competitive capitalism serves as both a device for achieving economic freedom and a necessary condition for political freedom. The result is an accessible text that has sold well over half a million copies in English, has been translated into eighteen languages, and shows every sign of becoming more and more influential as time goes on.

 
A Monetary History of the United States, 1867-1960
A Monetary History of the United States, 1867-1960

Learn how this brilliant economist has courageously viewed the story of our money systems

 
Money Mischief: Episodes in Monetary History
Money Mischief: Episodes in Monetary History

In this latest work, Nobel Prize-winning economist Friedman examines the role of money backed by gold and silver and our current world of fiat backed by faith. After an initial restatement of the essence of his monetary views, Friedman examines the historical impact of bimetallism in the United States and elsewhere. He devotes the remainder of the book to the principles and problems of modern money unlinked to any commodity. Often iconoclastic yet always persuasive, whatever Friedman has to say about money should always be read. Highly recommended for college and university libraries.

 

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