The way our current system works, when Federal Reserve Notes are created more debt is also created.
The truth is that the U.S. government still has the power under the U.S. Constitution to issue debt-free money.
Posted below are pictures of the front and the back of a United States Note printed in 1963 while JFK was president….
Notice that there is a red seal instead of a green seal on the front, and it says “United States Note” rather than “Federal Reserve Note”.
According
to Wikipedia, United States Notes were issued directly into circulation by the U.S. Treasury and they were first used during the Civil War.
So why are we using debt-based Federal Reserve Notes today instead of debt-free United States Notes?
It seems rather stupid, doesn’t it?
Our current debt-based monetary system was devised by greedy bankers that wanted to make huge profits by creating money out of thin air and lending it to the U.S. government at interest.
The U.S. Constitution says that the federal government is the one that should actually be issuing our money.
In particular, according to
Article I, Section 8 of the U.S. Constitution, it is the U.S. Congress that has been given the responsibility to “coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”.
So why is a private central banking cartel issuing our money?
Back in 1910, a couple years prior to the passage of the Federal Reserve Act, the national debt was only about
$2.6 billion.
A little over 100 years later, our national debt is now more than
5000 times larger.
Our current debt-based monetary system also requires very high personal income taxes to pay for it.
If Congress took back the power over our currency and started issuing debt-free money a lot of our problems could be fixed.
#1) The U.S. Congress votes to take back all of the functions that it has delegated to the Federal Reserve and begins to issue debt-free United States Notes.
#2) The U.S. Congress
nationalizes all debt held by the Federal Reserve.
#3) A Constitutional amendment is passed limiting future U.S. government deficits to a reasonable percentage of GDP.
#4) The existing national debt would be very slowly paid off with newly created United States Notes.
Neither political party (EXCEPT RON PAUL) is even talking about debt-free money.
In fact, most of the politicians in both political parties probably do not even know what debt-free money is.
Debt-Free United States Notes Were Once Issued Under JFK And The U.S. Government Still Has The Power To Issue Debt-Free Money - BlackListedNews.com