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money
Money
The Fed’s own words...
Here is what the Fed says about itself: As the nation’s central bank, the Federal Reserve derives its authority from the Congress of the United States. It is considered an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else...
The Tokens
Our money is an IOU-future-value promise from the private bank members of the Federal Reserve System. The Federal Reserve promises come in two basic forms of the token we call a US dollar. A dollar can have a physical form – a coin or a piece of paper. Or a...
The US Federal Reserve System
The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system. – http://www.federalreserve.gov The Federal Reserve Act makes money created by private bankers using a fractional reserve system our national money. Our money is a Federal Reserve note...
What makes money, money?
So, what makes money, money? What characteristics must an object have before communities use it to buy and sell with each other? Community-wide agreement A community must agree to use the token as an intermediary when they buy and sell. If everyone in a community agrees cowry shells will be...
What system?
Our current money system is a choice. It’s not set in stone. We can choose a different money system that supports a prosperous, low-tax, high leisure, caring and creative society. To choose wisely we must understand the different money systems and how they each function. For the past few hundred...
WHO creates new money?
The Federal Reserve Act hands the privilege of creating our money supply over to the private banking sector. About 99 percent of the money we use today is created by private bankers or their central bank. Our government can only make and issue coins, and these represent about one percent...
Who creates new money?
The power to create new money is a profound privilege. Who creates new money is the most critical aspect of a money system, because as noted earlier, this determines who will essentially rule. Money creation has three aspects: who will do the creating, how will it be created, and how...
A practical path forward
Let’s assume we agree that our current money system is not working and we want a different one. How do we get on the path to improvement? How do we decide what a new system should be? How can we move towards a good decision? If you’ve made it this...
A private wealth transfer system
Our current money system is designed to shift wealth from the people who produce goods and services on Main Street to the bankers and financiers who have the privilege of creating new money for our nation. The system is designed to privatize profit and socialize risks and costs. The system...
A Radical Departure
A century ago, between 1913 when The Federal Reserve Act was passed and 1929 when the economy came crashing down, banks with the power to create new money could also invest it. This ability to self-deal created a booming economy as a few wealthy people created money for themselves to...