Have you seen anything on The Money Masters? I just found their web site, they support a Monetary Reform Act which would eliminate the Federal Reserve Bank and put the Treasury Department back in charge of printing money (United States Notes instead of Federal Reserve Notes). Watch The Fed and Tell 300 Million People
I think you will find this interesting. I did. My imagination can't even stretch around it.
Short version: If you control the money supply, you control the country no matter who is elected to the government. The Federal Reserve Bank (FED - common useage) controls the money supply for the United States. It is an independant bank, not a part of the U.S. government like the Treasury is.
Every Federal Reserve Note (U.S. currency) is a loan certificate for money that comes from the FED. The U.S. Treasury prints Federal Reserve Notes then SELLS THEM to the FED for the cost of the printing. The FED then uses those Federal Reserve Notes to buy U.S. Treasury Notes which pay interest at maturity. Right now we are paying $400BILLION each year in interest on Treasury Notes to use Federal Reserve Notes for our currency. Our whole economy is based on credit, not money, and even the credit we use is borrowed on credit.
WHY? It's
TOTALLY unnecessary! The U.S. Treasury can print U.S. Treasury Notes and put them in circulation to replace an equal number of Federal Reserve Notes, then return those FED notes by using them to buy back the U.S. Treasury Notes. We could replace ALL FED notes with Treasury notes in
ONE year! Just think about it: eliminate that part of the National Debt represented by the FED Reserve Notes in circulation
(all of it?), eliminate a $400Billion annual expense, and regain control of our economy
AT THE SAME TIME!
We need to do more than just regain control of the currency. We need to re-separate banking from speculation, i.e. stocks, bonds, mortgages, etc. We also need to require that banks have a 100% reserve on deposits. No more Fractional Reserves. Those are part of the Monetary Reform Act at the first link at the top of the page.
I've heard talk of injecting liquidity into the economy, there's a credit crunch, people and businesses can't get credit, the U.S. has a credit economy... isn't there a little too much credit involved here? I think we need to take away our government's credit card, close our FED account, and revert to a CASH economy. Do you think that's too big a step, that we can't do it? Creating the FED in the first place was a big step, and that was done during a depression! We can do it. We can abolish the FED and Fractional Reserve banking.
The second thing we need to do is to implement the Fair Tax Act. One tax and done, collected at the point of retail sale. No deductions from your paycheck for any Federal taxes at all. No Income Tax returns, no deductions, no tax credits (because no Income Tax withheld). No tax lawyers, no tax paperwork, no April 15th deadline. You can download the PDF at
http://www.fairtax.org/PDF/FairTax-NTJ-Final-042407.pdf to see an extensive analysis of the performance of the Fair Tax over a period of years. The home page for it is at
http://www.fairtax.org/site/PageServer where you will find many links to more information. Before you blow this off, you need to think about it very carefully. Do you think that what you put on your Income Tax Return is the only amount that Federal Taxes cost you? Think again... approximately 22% of the price of everything you buy is attributed to
compliance costs of federal taxes. Have you ever had a lawyer, or a company like H&R Block do your taxes?
Businesses do! That expense is a part of their
cost of doing business. They can only recoup that money by including it in the prices of their goods sold. They have other compliance costs, too, perhaps some readers can comment on that (FICA employer's share, unemployment insurance, etc).
Eliminate the compliance costs and the costs of goods sold go down by that amount. Add in the Fair Tax at point of sale and the price goes back up to what it was before. No net change to the consumer. Note that the price the buyer sees already includes the Fair Tax, but the amount of tax included is shown on the cash register receipt (for the total of the sale, not for each item). Every time you buy something you will see exactly how much you are "contributing" to the Federal Government. You will have a vested interest in knowing what the government wants to spend money on, and how much it will cost. You will be able to
control how much the government gets from you by controlling your spending. The government will know that to get the maximum amount in taxes from you, they have to
keep you happy! Power to the people!
I almost forgot... some people will say that the reduced cost of goods sold will not be passed on to the retailers, and thereby to the customers. They will just keep the difference as profit. Yeah, right. That will last about as long as it takes their competitors to reduce their wholesale prices... a computer operation that takes about 1/10th of a second. Companies like WalMart aggressively negotiate the prices they pay for goods for resale. Other companies with less competition might not cut their prices at first, but customers will see the lack of prices jumping on other goods and know that they are being ripped off. Companies will pass the savings on or watch their sales drop like a rock.
I SUGGEST that the FED, NAFTA, SPP, North American Community/Union, and Amero are ALL TIED TOGETHER! The links are tenuous right now, but too many things are happening that complement each other for all of them to be purely circumstantial.
More later...