I got an email yesterday from the American Monetary Institute that at last made clear to me something I have never before had really clear: there are two moneys: government money and private money.
Our Constitution originally provided only for government money, but left the implementation of that to people who had various motivations for making it less than entirely comprehensible; the U.S money system wobbled around badly for more than 100 years until in 1913 a corrupt (or stupid) Congress turned our money system over to "the bankers," who immediately made "private money" de rigeur for the nation. It has been so since.
The AMI email further made clear that there is true money and false money: true money is government money (it could, I expect, be gold, if the state passed a law to make it money, that is, legal tender), and there is false money, which is credit. Credit is a loan, and it almost universally requires that interest be paid. In our mad system all loans are of private money; all interest goes to private bankers.
Here in the U.S. and elsewhere in much of the world, the only serious money is credit, false money. That underpins the trouble were in: interest charges build up and eventually get dumped on the taxpayers. Now I believe our congressional shills are being asked to raise our public debt ceiling to $16 trillion. Them's a lot of money, principal plus interest, to owe. It will of course never be paid under the present system somewhere down the line, to the point past which the can can't be kicked, lies default. If anybody asks, I'm for that. It does not strike me full of horror since I own no debt.
But meanwhile, the can is being kicked down the road, and the true source for money reform is ignored. It's not obscure or hard to find. It was entered in the last Congress as HR 6550 by Dennis Kucinich of Cleveland. It can be read at the AMI website (Google for that).
Stephen Zarlenga of the Institute says HR 6550 provides an "elegant and gentle accounting" means for converting all of the loans issued by the private bankers into "U.S. money." You'd think the possibility that we could make that big change, get interest-free govt. money and pay off the public debt "elegantly and gently," and get $2.5 trillion for desperately needed infrastructure (thus ending unemployment) would interest somebody, but greedy people are hard to convert. Marvelously hard, I'm told.
Our Constitution originally provided only for government money, but left the implementation of that to people who had various motivations for making it less than entirely comprehensible; the U.S money system wobbled around badly for more than 100 years until in 1913 a corrupt (or stupid) Congress turned our money system over to "the bankers," who immediately made "private money" de rigeur for the nation. It has been so since.
The AMI email further made clear that there is true money and false money: true money is government money (it could, I expect, be gold, if the state passed a law to make it money, that is, legal tender), and there is false money, which is credit. Credit is a loan, and it almost universally requires that interest be paid. In our mad system all loans are of private money; all interest goes to private bankers.
Here in the U.S. and elsewhere in much of the world, the only serious money is credit, false money. That underpins the trouble were in: interest charges build up and eventually get dumped on the taxpayers. Now I believe our congressional shills are being asked to raise our public debt ceiling to $16 trillion. Them's a lot of money, principal plus interest, to owe. It will of course never be paid under the present system somewhere down the line, to the point past which the can can't be kicked, lies default. If anybody asks, I'm for that. It does not strike me full of horror since I own no debt.
But meanwhile, the can is being kicked down the road, and the true source for money reform is ignored. It's not obscure or hard to find. It was entered in the last Congress as HR 6550 by Dennis Kucinich of Cleveland. It can be read at the AMI website (Google for that).
Stephen Zarlenga of the Institute says HR 6550 provides an "elegant and gentle accounting" means for converting all of the loans issued by the private bankers into "U.S. money." You'd think the possibility that we could make that big change, get interest-free govt. money and pay off the public debt "elegantly and gently," and get $2.5 trillion for desperately needed infrastructure (thus ending unemployment) would interest somebody, but greedy people are hard to convert. Marvelously hard, I'm told.
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