All the US has to do is take power from the federal reserve and issue its own interest free government money. This would save taxpayers almost half a trillion per year in interest payments. Over the last 20 years the government has paid over 7 trillion dollars in interest payments. If the government just issued its own debt free money(that is money that they dont have to sell bonds to get), most of our problems would be gone.
And once interest free debt is institutionalized, we can rely on rational voters to keep from lining their pockets with the taxes from future generations. After all, the one constant in life is voter integrity and intelligence.
Do you think the world would let is get away with such currency-debasing, money-printing policies? The "floating of Treasury debt" gives the illusion that at some point debts will be repaid. Of course they won't, but the world hasn't as of yet held our feet to the fire on the issue. We wouldn't need the Fed nor even a gold standard if the government stopped stealing from the citizenry via deficit spending.
This, surely, is the pinnacle of wilful ignorance and silliness. Apart from confounding money and government debt, have you actually thought about how the government is going to operate under your new system?
It will work exactly the same way it works now, only there will be no interest that the government has to pay and bankers will not be able to force policies on the government by controlling the money supply. Obviously you have never read your american history. If you had, you would realize that this has been done before with success. You might also notice that the times when the US didnt have a central bank was when we were debt free or had low debt to gdp. Anyone who cant see this working I will explain it to you better. Lets say you have a credit card with 30% interest. Then you get an offer in the mail for a credit card with 0% interest. Your 30% interest card says it has a limit, but whenever you reach it, they just raise the limit higher. So are you trying to tell me that its better to have the 30% card? The government already has a printing press, but they print treasuries instead of dollars. They then sell most of these treasuries to the federal reserve who gives them dollars. Whats the difference who prints the money? The difference is if the government prints it, there is nearly half a trillion dollars extra for everyone.
Martinghoul. You seem to be very touchy when it comes to subjects about the Fed. So why don't you explain to us.. Who owns shares of the Fed? Why the Fed should be in private hands? What advantage in theory that should bring to Amercans. Whether the Fed has protected Americans from its own Government lately. Whether the Fed has modulated the boom bust cycle or exacerbated it Frankly I do not like the power of the press to be in Govt hands nor do I like it in private hands - if they are not my own hands.
I don't think you really understand. if the government printed it's own money and spent it into the economy there would be no need or possibility of government debt. And if quantity of goods and services goes up as money is added at relatively equal ratio's no inflation would occur Tv pundits and economic hacks claim the federal reserve system(Private money creation) is better then government creation. stating that money in the hands of the fed keeps the gov. from running wild. name one time in history the fed has impeded Gov. spending Also the government could just print the money to pay off the debt and raise the reserve requirements by the corresponding amount. The end result would be no debt and 100% reserve system without inflation. (the printed money would be held by banks to meet the reserve requirements on existing loans and will not circulate). I believe this is Stephen zarlenga's idea
Martin supports the aristocratic power of bankers to debase the money supply, then "loan" it back to Governments, thereby collecting interest on money they never had. It's legalized counterfeit. Whether private or Central banks do it, it makes no difference. The scam is fractional reserve money lending. Banks literally create money out of nothing. This debases the currency (prices rise). Therefore, the value of the principle is stolen from dollar holders (savers), then "loaned" out as if it were the banks money, which the bank later collects interest on. Money they stole from us. This is what Martin supports: rule by Elitist Bankers via a pyramid scheme of debt.
+1 At least it will be we the people how take the bad decisions and would be the one to assume our errors... the errors of we the people but not the one of the cb... Yes of course ! what to worry about ? the interrests are payed after all, with a "new money"... and in case of serious treath which I am pretty sure is 100% avoidable as it's the best interrest of every country do the same... Even so at the pure play both oceans security is assured and a self support food biz... so what ? No interrest group is sufficiently strong to defeat we the people. ( I suppose that you wanted to write us and not is ^^) lol... the simplest explanation on the subject ever ! Hard to argue... ^^ Mouahahhaha , so right. There is 2 reason why he could act like it. The first, he is not enough informed, difficult subject to undestand, highly possible ! Or in some ways he think that he is profiting from it...
Only one US President has attempted to break the Federal Reserve. He was killed a couple of weeks later.