An Open Letter to President Trump:Drain the Monetary Swamp
Dear President Donald Trump,
End the deficit, pay off the national debt as it comes due, get rid of
Obama Care by giving us real national healthcare, pay for education:
it is all possible by draining the monetary swamp of the fraudulent debt
money system. Guess what it also does? It unifies our country by
addressing the very real concerns of all Americans.
The U.S. monetary system is so corrupt that almost nobody
understands it. But it is really quite simple.
• Almost all of what we use for money is created out of thin air by
banks when they make loans.
• This debt money exists only as debt, as the debts are repaid the
money is extinguished from the bank’s bookkeeping.
• We must therefore be in debt, individually and through our
government, or there would be no money and society would
grind to a halt.
• It gets worse, there is no money created with the loans for the
significant interest that we must pay. This makes it even more
impossible to reduce the level of indebtedness and insures that it
must perpetually increase.
• The Federal Reserve is no more federal than Federal Express.
All 12 Federal Reserve Banks are owned entirely by the private
banks in their districts.
• Even our currency, which accounts for only about a tenth of the
total money supply, is printed by the government and then given
to the Federal Reserve for the cost of printing to be distributed to
the banks. Our government is paid a nickel for a $1 bill and 14.3
cents for a $100 bill.
banks when they make loans.
• This debt money exists only as debt, as the debts are repaid the
money is extinguished from the bank’s bookkeeping.
• We must therefore be in debt, individually and through our
government, or there would be no money and society would
grind to a halt.
• It gets worse, there is no money created with the loans for the
significant interest that we must pay. This makes it even more
impossible to reduce the level of indebtedness and insures that it
must perpetually increase.
• The Federal Reserve is no more federal than Federal Express.
All 12 Federal Reserve Banks are owned entirely by the private
banks in their districts.
• Even our currency, which accounts for only about a tenth of the
total money supply, is printed by the government and then given
to the Federal Reserve for the cost of printing to be distributed to
the banks. Our government is paid a nickel for a $1 bill and 14.3
cents for a $100 bill.
The only real money in this system are the coins in our pockets
and piggy banks. Our government is paid face value by the Fed
for every coin minted. Our government gets 30 cents for a
quarter and a nickel and it only gets 28.6 cents for two $100 bills.
This is not a misprint, the debt money banking system pays us
more for a nickel and a quarter than they do for two $100 bills.
I used the word fraudulent to describe this system, because the
monetary economists at the Fed, the politicians and the bankers
have not told us that this is how the system works. Most of them
probably don’t ever know how it works, because the textbooks
that they have learned from also misrepresent what the system
is. For those that do know and haven’t told us, shame on them.
Our economists, politicians and bankers are either ignorant or
supporters of fraud.
The Bank of England, the UK’s central bank and the model for
the Federal Reserve, unequivocally stated:
“In the modern economy, most money takes the form of bank
deposits. But how those bank deposits are created is often
misunderstood: the principal way is through commercial banks making
loans. Whenever a bank makes a loan, it simultaneously creates a
matching deposit in the borrower’s bank account, thereby
creating new money. The reality of how money is created today
differs from the description found in some economics textbooks: •
Rather than banks receiving deposits when households save and then
lending them out, bank lending creates deposits.”
(Emphasis BoE), Money Creation in the Modern Economy, 2014
Some on the far left have said nationalize the banks. Wrong,
nationalizing banks does nothing, we need to nationalize money
creation. The Constitution says money creation belongs with our
government. “The Congress shall have Power To… coin Money,
regulate the Value thereof…” (Article I, Section 8) The phrase “coin
Money” refers to the creation of money and was used because coins
at the time were considered the real money.
Simple, straightforward, non partisan, monetary reform legislation was
put into Congress in 2011 by Congressmen Dennis Kucinich and John
Conyers: NEED Act (National Emergency Employment Defense Act).
Its reforms are intuitively what one thinks the system already is.
• The Federal Reserve System, currently owned by the private
banks, would be put into the federal government.
• Banks would no longer create our money and would only loan
money that already exists.
• Money would be created, debt-free, in non inflation/deflationary
amounts and spent into existence for the needs of the nation:
jobs, infrastructure, healthcare, education, etc. The federal debt
will be repaid as it comes due, an absolute impossibility under
the present system and there will be no more deficits and debt
circuses in Washington.
The NEED Act transforms our society from austerity to a
productive, bountiful and sustainable democracy. More
information is available at the American Monetary Institute
(monetary.org).
President Trump, unite our country and drain the monetary
swamp by proposing the NEED Act on Day One.
Sincerely,
Nick Egnatz Munster, IN occupynick@yahoo.com
References
Jamie Walton’s 2 page paper explains how immediate,
seamless and non-disruptive the overnight transition to a
government money system would be, “How the N.E.E.D. Act
gives an Immediate, Seamless and Non-Disruptive
Overnight Transition from a Crisis-Prone Bank Debt System
to a Stable Government Money System” http://
NEED Act
HR-2990.pdf
“Money Creation in the Modern Economy”, Bank of England
quarterlybulletin/2014/ qb14q1prereleasemoneycreation.pdf
The following gentlemen are at your service to bring about
monetary reform.
Stephen Zarlenga
Director American Monetary Institute
Jamie Walton
Senior Researcher American Monetary Institute
Dennis Kucinich
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Former Congressman and sponsor of the NEED Act
file:///Volumes/4TB%20HD%20storage%20disc/President-Trump.pdf
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