Uudustuksen myötä valtiovarainministeriö maksaisi valtionvelan kerralla pois uusilla laillisilla rahoilla ja korvaisi nykyiset "Federal Reserve Note" setelit näillä. Tästedes rahapolitiikka olisi kongressin hallinnon alla.
Rahakantaa lisättäisiin vuosittain hyvin tiukkojen sääntöjen mukaan. Valtio ei tästedes koskaan lainaisi mitään varoja vaan kaikki tarpeellinen rahoitus hoituisi muilla keinoin ilman että inflaatiota syntyisi. Voi kuulostaa utopialta ainakin kultabugin kannalta. Kannattaa kuitenkin lukea koko juttu ennenkuin kommentoi ja pitää tätä " inflatoorisena".
Monetary Reform Act (brief summary)
This proposed law would require banks to increase their reserves on deposits from the current 10%, to 100%, over a one-year period. This would abolish fractional reserve banking (i.e., money creation by private banks) which depends upon fractional (i.e., partial) reserve lending. To provide the funds for this reserve increase, the US Treasury Department would be authorized to issue new United States Notes (and/or US Note accounts) sufficient in quantity to pay off the entire national debt (and replace all Federal Reserve Notes).
The funds required to pay off the national debt are always closely equivalent to the amount of money the banks have created by engaging in fractional lending because the Fed creates 10% of the money the government needs to finance deficit spending (and uses that newly created money to buy US bonds on the open market), then the banks create the other 90% as loans (as is explained on our FAQ page). Thus the national debt closely tracks the combined total of US Treasury debt held by the Fed (10%) and the amount of money created by private banks (90%).
Because this two-part action (increasing bank reserves to 100% and paying off the entire national debt) adds no net increase to the money supply (the two actions cancel each other in net effect on the money supply), it would cause neither inflation nor deflation, but would result in monetary stability and the end of the boom-bust pattern of US economic activity caused by our current, inherently unstable system.
Thus our entire national debt would be extinguished – thereby dramatically reducing or entirely eliminating the US budget deficit and the need for taxes to pay the $400+ billion interest per year on the national debt - and our economic system would be stabilized, while ending the terrible injustice of private banks being allowed to create over 90% of our money as loans on which they charge us interest. Wealth would cease to be concentrated in fewer and fewer hands as a result of private bank money creation. Thereafter, apart from a regular 3% annual increase (roughly matching population growth), only Congress would have the power to authorize changes in the US money supply - for public use -not private banks increasing only private bankers' wealth.
Money Masters elokuvan tuottaja kommentoi nykyistä talouskriisiä näin:
The ongoing, severe economic turmoil in our nation - destined to get worse if the right remedy is not enacted - was predicted in our video The Money Masters as the inevitable result of our fractional reserve banking system. (...)
We have not previously written the viewers of The Money Masters. We judged the time was not ripe. But increasingly we are being asked - urgently - what can we do, and when, to be effective. Now it is clearly urgent that we flood Congress with our calls, emails and letters, to oppose the proposed taxpayer-funded Bailout of the banks. Rather, we support genuine reform, that will not result in an even greater concentration of economic power in fewer and fewer hands. We support the Monetary Reform Act, or any such Act that repeals or reforms the Federal Reserve Act so as to prohibit fractional reserve banking and money creation (as loans or otherwise) by private banks. We oppose the Bailout of the banks. We want genuine, fundamental reform, now!
Very truly yours,
Patrick S.J. Carmack
Producer of The Money Masters