Friday, February 20, 2009

American economy

Here are a few quotes from an article in the Wanderer, which was quoting an article by Darrell Castle, entitled, "What should we do to save the American economy?" He says, "Yes, there are many things that we could do which collectively would bring economic recovery very quickly.
1) End the Fed. Monetary reform and economic recovery are not possible unless Congress is able to recover its constitutional authority over our monetary system. The growth of debt must be stopped and reversed, and the debt-based system of monetary creation through interest-bearing bank credit must be reversed if we are to recover. The Federal Reserve Act of 1913 should be rescinded and the Fed banks liquidated and their assets truned over to the U.S. Treasury...Once Congress regains its constitutional aughority over money, it could issue money based on the full faith and credit of the United States or said another way, based on the labor and productive capacity of the American people. This money and credit would keep the economy functioning and prevent depression while we transitioned from our present debt-based system to the gold standard....
2)Withdraw from both wars immediately. Our nation has never been able to pay for these wars except through massive debt or massive inflation. Immediate withdrawal would save at least a trillion dollars."

1 comment:

  1. Is this saying in essence that there must be "real" money to back up the banking system? If so, let's respond, "Yes!"

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