Make the Economy Work for Public Good!

The people, not banks, should direct the economy.

sponsored by Marc Antonio • co-sponsors: (1)Become a Co-sponsor

primary topic: Economy
secondary topics: Campaign Finance, Commerce (Growth), Deficit (Costs), Deficit (Overall), Deficit (Taxes) , Economy, Education, Environment (Air), Environment (Sea), Government, Healthcare, Homeland Security, Homelessness, Hunger, Jobs, Liberties (Civil), Monetary Policy, Financial Regulation, Housing

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BIPARTISAN RATING

Under today's monetary system (since 1913) banks create the national money supply when they make loans.

As a result, in deciding where to make these loans, the banks decide what our country does. If banks make more money funding war and a housing bubble instead of hospitals, schools, local business, and economic infrastructure, then that's what happens. As a result of this privilege -- granted to the banking system in 1913 with the creation of the Federal Reserve -- banks get very rich and they buy our politicians. In the meantime, an entirely unnecessary "national debt" is created, putting our government increasingly in debt to banks.

Dennis Kucinich's National Employment & Economic Defense Act (HR2990) will return our country to the monetary principles of the Founders (and of Abraham Lincoln's Greenback system), to create FULL EMPLOYMENT, END the national debt, and turn the direction of this country towards PROSPERITY FOR ALL.

HR2990 will:

1) Make the Federal Reserve System part of our government - what people mistakenly think it is now!

2) End the accounting privilege banks now have to create what we use for money out of debt (the loans they decide to make). HR2990 eliminates the fractional reserve banking system.

3) Take back from banks the power to create new money in their self-interest, and restore to Congress the power to spend new money into circulation for the public good, including economic infrastructure, health care, education and full employment.

For more info see:
http://www.monetary.org/

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