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Awesome website…
Really nice blog. I will check back for more information on this subject later….
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What many people are unaware of is that the Federal Reserve is not part of the U.S. Government, it is a private consortium made up of private commercial banks. About 99.9% of the U.S. money supply (all of it except for the 0.1% issued as coins by the U.S. Mint) is created as an entry of indebtedness to the private banking system by the private banking system. In other words, 99.9% of the nation’s money is originally loaned to it by organizations that do not have what they loan until it is loaned. These figures are loaned, as debt which becomes used as money, with interest charges attached to them, so that the amount owing is more than the amount available, and so more borrowing is required to be able to keep up with repayments.
The compounding interest charges mean the overall amount of debt increases exponentially with time, regardless of what is going on in the real world. This is why we get what is called inflation over time; as the amount of total debt, expressed in money-figures, is growing at a faster rate than the amount of goods and services that can be produced and consumed in the real world, so there are more money-figures relative to things to buy, so the buying power of money goes down, which is expressed by prices going up. Increasing interest rates to try to ‘dampen’ inflation is like trying to put out a fire with gasoline.
The Federal Reserve no longer publishes the M3 statistic and has admitted having difficulty in defining ‘broad money’, and how it relates to ‘near-money’. Anyone with a basic understanding of systems will know that if a system cannot be adequately monitored, it cannot be adequately controlled to function as it was designed and intended to function. It may be that our current monetary system was designed not to function properly at all, or at least not in the way most people would expect and want it to function.
A simple set of changes to the legal framework and accounting processes of the monetary system, so that money is created as money instead of as debt, and is issued and regulated in proportion to the demand for the consumption of goods and services, within democratic guidelines, would solve this problem overnight. All of the necessary knowledge and technology already exists.
All that is required is the political demand from people as citizens and constituents to require their elected representatives to legislate to make it so. In this way people will be able to freely live their lives the way they want, with peace and prosperity, but without undue constraints. An economy based on actual reality and experience rather than abstract theories and mathematics; an economy that, by necessity and through democracy, will be more environmentally sustainable and will have less social friction.
To this end, the American Monetary Institute (AMI) has developed 2 items of draft legislation to enable this transformation without undue upheaval. These are the Monetary Transparency Act and the American Monetary Act. These items can be viewed on the AMI website at http://www.monetary.org along with many other informative and accurate materials on monetary matters. The AMI welcomes helpful contributions to, and participation in, the development and promotion of good means to good ends, for all of humanity and nature.
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What many people are unaware of is that the Federal Reserve is not part of the U.S. Government, it is a private consortium made up of private commercial banks. About 99.9% of the U.S. money supply (all of it except for the 0.1% issued as coins by the U.S. Mint) is created as an entry of indebtedness to the private banking system by the private banking system. In other words, 99.9% of the nation’s money is originally loaned to it by organizations that do not have what they loan until it is loaned. These figures are loaned, as debt which becomes used as money, with interest charges attached to them, so that the amount owing is more than the amount available, and so more borrowing is required to be able to keep up with repayments.
The compounding interest charges mean the overall amount of debt increases exponentially with time, regardless of what is going on in the real world. This is why we get what is called inflation over time; as the amount of total debt, expressed in money-figures, is growing at a faster rate than the amount of goods and services that can be produced and consumed in the real world, so there are more money-figures relative to things to buy, so the buying power of money goes down, which is expressed by prices going up. Increasing interest rates to try to ‘dampen’ inflation is like trying to put out a fire with gasoline.
The Federal Reserve no longer publishes the M3 statistic and has admitted having difficulty in defining ‘broad money’, and how it relates to ‘near-money’. Anyone with a basic understanding of systems will know that if a system cannot be adequately monitored, it cannot be adequately controlled to function as it was designed and intended to function. It may be that our current monetary system was designed not to function properly at all, or at least not in the way most people would expect and want it to function.
A simple set of changes to the legal framework and accounting processes of the monetary system, so that money is created as money instead of as debt, and is issued and regulated in proportion to the demand for the consumption of goods and services, within democratic guidelines, would solve this problem overnight. All of the necessary knowledge and technology already exists.
All that is required is the political demand from people as citizens as constituents to require their elected representatives to legislate to make it so. In this way people will be able to freely live their lives the way they want, without undue constraints, but with peace and prosperity. An economy based on actual reality and experience rather than abstract theories and mathematics; an economy that, by necessity and through democracy, will be more environmentally sustainable and will have less social friction.
To this end, the American Monetary Institute (AMI) has developed 2 items of draft legislation to enable this transformation without undue upheaval. These are the Monetary Transparency Act and the American Monetary Act. These items can be viewed on the AMI website at http://www.monetary.org along with many other informative and accurate materials on monetary matters. The AMI welcomes helpful contributions to, and participation in, the development and promotion of good means to good ends for all of humanity and nature.
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The Treasury and Federal Reserve must regain control of the financial system and restore discipline in an orderly manner. Replacing the housing bubble with new excesses fails to address the issues and postpones necessary market corrections. In order to restore discipline, the government must resist the easy solution of taxpayer funded bailouts and instead facilitate the sale or dissolution of the failed institution.
http://www.beyondthemargin.net/2008/07/american-banks-house-of-cards.html
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R.P. said billion in stead of trillion as per the M3 report. I guess the T-word is hard for anyone to say.
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