Tags
federal reserve, federal reserve act, fractional reserve banking, greenbacks, national banking act, national debt, the money masters
Recently I watched an awesome documentary called The Money Masters, by Bill Still. What a great history of the use (and misuse) of money and lending by governments and the banking monopolies! Seems like there is a workable solution to the problem of government debt. Why isn’t anyone listening?
Here are a few thoughts just from the summary section of this 3-1/2 hour documentary.
Steps to Getting Out of National Debt and Away from the Debt Based Banking System
- Pay off national debt with debt-free U.S. Notes (bills, not bonds).
- Abolish fractional reserve banking/lending. Proportionately raise bank reserve requirements (eventually to 100%) as debt is paid off (to limit inflation).
- Repeal the Federal Reserve Act of 1913 and the National Banking Act of 1864.
- The U.S. should withdraw from the International Monetary Fund, the Bank of International Settlements and the World Bank.
Numerous U.S. presidents (such as Jefferson, Madison, Lincoln) have supported printing our own currency rather than borrowing it (such as in the days of the Greenbacks). Many have opposed the Gold Standard (which puts the power of money in fewer hands since gold is more scarce than silver or paper currency). Yet these great ideas did not catch on. Why?
Until these ideas take hold, we’d better be prepared for more economic troubles ahead.
Protection during a Depression
- Get out of debt (personal)
- Get liquid
- Own your house
- Have some silver coins (pre 1965 good)
- Have some gold
For more information and a complete history on this topic, read the book, The Money Masters by Bill Still, check out their website http://themoneymasters.com and by all means take the time to watch the awesome video http://beaconoftruth.com/money_masters.htm (conclusion starts at 03:02, how to fix U.S. debt starts at 3:10).
