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On the American System of Political Economy
If the United States Congress were to call back its constitutional power
of issuing the currency and credit of the United States,
reliable, physically real, growing prosperity would soon return to the people.
What you are about to read is proven scientific fact, not theory.
But you must struggle to think this through because it flies in the face of popular notions
which have been long nurtured by fools in media and academia.
Have you heard it said you can't have guns and butter?
It means that if the nation's labor and industry is spent building the tools of war,
there will be less of the goods for everyday life produced,
and thus a lowering of the standard of living.
I ask you, as you read and think this through to think in terms of the real physical economy,
its raw materials, physical tools and physical labor, realising that money and other financial products
are only symbolic intruments representing the movements of material and labor.
Financial problems are only symbolic (in the mind) obstacles to building the physical things which are
actual wealth and prosperity itself (houses, boats, food, etc).
The lack of a raw material (such as lumber to build a house or water to irrigate farmland) would be a real physical obstacle.
If the congress under its constitutional authority issued 100 billion dollars to build some jet bombers and tanks
to win a war, in the end the tanks and bombers would be worn out or destroyed and great destuction will have resulted
on both sides of the conflict. The increase in the amount of currency in circulation would result in reduced buying power for
each unit of currency because physical value was not added to the nation. In fact much was destroyed, further reducing the buying
power of each unit of currency.
So this money must eventualy be sent back to the treasury and destroyed, reducing the money supply and restoring its buying power.
But if congress were to issue 100 billion dollars to create the infrastructure needed for a new city in the desert,
including piping in irrigation water, rail and road access, houses for the new city's first few hundred or
so residents, and windmills and solar panels for energy, then this money may not need to be payed back in full or at all.
If americans were to eagerly take up residence and a thriving city in the desert resulted, with productive farms surrounding
the new city where previously there was only desert sand, then the new money could be left in the economy with no depreciation
of the dollar. In fact, some additional money might need to be printed and released to the people there, debt free, to prevent the dollar from
increasing its buying power too much.
When we print money to fund destruction (war), a debt is incurred,
which just means we have less stuff (like homes, food and people) than before the war.
So the money must be taxed back to the treasury for shredding.
Money printed for successful construction which americans choose to utilize, can be left in circulation and the debt forgiven,
which just means drawing a line through it on a ledger.
To the degree that newly printed money funds the creation of value for real people, no debt is incurred.
To the degree that newly printed money funds failed attempts to create value, debt is incurred and that money must be shredded.
If newly printed money funds destructive activity, then not only the new money must be shredded but some old money as well,
to maintain the buying power of the dollar.
This is the American System of Political Economy used imperfectly but successfully by Franklin Delano Roosevelt
to grow us out of depression, win World War II and create unprecedented post war prosperity.
This American System which deprives bankers of their usury was also favored by Abraham Lincoln, James Garfield
and John Fitzgerald Kennedy, assassinated presidents of the United States.
Lessons from the Wizard of Oz Few of the millions who have enjoyed this charming tale have suspected that its imagery was drawn from that most obscure and tedious of subjects, banking and finance. www.webofdebt.com/ How International Bankers Gained Control of America. Uncommon News and Views for the Wise Investor. www.financialsense.com/ How Lincoln Might Fix Our Economic Mess As America grapples with the worst economic chain-reaction since 1929 —— and as President-Elect Obama takes time to consider more closely the methods of Abraham Lincoln —— it is time to reconsider a monetary method that Lincoln and the Civil War Republicans used, a monetary method that America’s leading economists attempted to revive in the 1930s. It’s a method that could work right now, but with a critical revision to adapt it to the methods and techniques of the Federal Reserve. hnn.us/articles/57568.html |
