Your Financial ManagerMake money management easy. Take control of your personal finances.
The Two Step Plan to National Economic Reform and Recovery
This is related to the video I posted the other day (if you haven’t watched the video, I urge you to do so as it is very interesting). I found this two step plan on the Money Masters website:
The Two Step Plan to National Economic Reform and Recovery
Step 1: Directs the Treasury Department to issue U.S. Notes (like Lincoln’s Greenbacks; can also be in electronic deposit format) to pay off the National debt.
Step 2: Increases the reserve ratio private banks are required to maintain from 10% to 100%, thereby terminating their ability to create money, while simultaneously absorbing the funds created to retire the national debt.
These two relatively simple steps, which Congress has the power to enact, would extinguish the national debt, without inflation or deflation, and end the unjust practice of private banks creating money as loans (i.e., fractional reserve banking). Paying off the national debt would wipe out the $400+ billion annual interest payments and thereby balance the budget. This Act would stabilize the economy and end the boom-bust economic cycles caused by fractional reserve banking.
I’m still not sure how you can pay off the national debt with money created by the government out of thin air and NOT cause inflation. I’m not against this idea by any means but I just don’t see how giving congress the power to print money at no interest will not lead to more overspending.
Thoughts?
Oh, and if you haven’t done so yet, WATCH THE VIDEO!
Similar Posts:
- Here’s Why China’s Interest Rate Hike Isn’t About Slowing The Boom
- Let’s Kill the Debt Ceiling— Permanently
- EU financial crisis – The key questions
- Rampant Inflation In 2011? The Monetary Base Is Exploding, Commodity Prices Are Skyrocketing And The Fed Wants To Print Lots More Money
- Troubled Spanish Bank, Bankia, To Raise $4.6 Billion In IPO
Leave a Reply