Monday, March 16, 2009

How to get rid of the FED and the National Debt

1. Pay off the debt with debt free U.S. notes (If the us can issue a dollar bond it can issue a dollar bill).

2. Abolish Fractional Reserve Banking. As the debt is paid off, the reserve requirements of all banks and financial institutions would be raised proportionally at the same time to absorb the new U.S. notes which would be deposited and become the banks new increased reserves.

3. Repeal of the Federal Reserve Act of 1913 and the National Banking act of 1864. These acts delegate the money power to a private banking monopoly. These acts must be repealed and the money power handed back to the treasury where it was under Abraham Lincoln. No banker or any person affiliated with private lending institutions should be allowed to regulate banking.

4. Withdraw the U.S from the IMF, the BIS, and the World Bank. These institutions like the Federal Reserve are designed to further consolidate the power of the central bankers over the world economies.

5. Any increase in the money flow should be done so at a rate of about 3% or in conjunction with the increase in population. This would ensure a steady stable money growth. All treasury meetings would be transparent to the public unlike how they are conducted now.

Issuing money was advocated by Jefferson, Madison, Jackson, and Lincoln.

Congress has the authority by the constitution to issue currency.

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