1 Apr 2018 11:15 am
...steve zarlenga [the world's foremost monetary historian--if you know of a better monetary historian, please name] offers the following from his speech recorded on the link that private dildo and i posted in the preceding two posts:...
"...WHAT TO DO NOW?
In broad terms:
* Nationalize the Federal Reserve, place it within the Treasury and use the greenback mechanism to fund infrastructure improvement and repair. The American Society of Civil Engineers 1998 Report estimates that $2 trillion will be needed. Much more is required to assure water supplies.
* Remove the privilege banks have to create money. Only government should have this power. This means much more than requiring banks to have 100% reserves. A special 100% reserve solution elegantly transforms all previously bank created money into U.S. created money. This does not cause deflation or inflation.
* Institute anti-deflationary programs to assure that sufficient money is introduced by government into the system...."
"...WHAT TO DO NOW?
In broad terms:
* Nationalize the Federal Reserve, place it within the Treasury and use the greenback mechanism to fund infrastructure improvement and repair. The American Society of Civil Engineers 1998 Report estimates that $2 trillion will be needed. Much more is required to assure water supplies.
* Remove the privilege banks have to create money. Only government should have this power. This means much more than requiring banks to have 100% reserves. A special 100% reserve solution elegantly transforms all previously bank created money into U.S. created money. This does not cause deflation or inflation.
* Institute anti-deflationary programs to assure that sufficient money is introduced by government into the system...."