THEN GOD CREATED MONEY
In the beginning, God created Adam and Eve. Next God came to Earth and left a giant sack of money so Adam and Eve’s kids and grandkids could conduct business. That’s how we got money. And if you believe this you have as much understanding of money as our legislators in Washington D.C. You know – the ones who spend a trillion dollars a year sending bombs and guns and warplanes and killer ships all around the world murdering women and children to spread peace and democracy and human rights and stuff, but in the next breath tell us we can’t afford Social Security and Medicare and universal healthcare and housing for the homeless and bridges that don’t fall down and roads that don’t rip the suspension out of your car and good schools and a college education for our kids and things like that. You know – those legislators.
They say the US Government is trillions of dollars in debt and we can afford to kill everyone, but we can’t afford to help anyone. Just the way it is. Let it go. Hard to let it go when the wheels fall off your car, you’re losing your house because your kid has a medical condition, and your mom is kicked out on the street because Medicare doesn’t pay the hedge fund owners of the nursing home enough to make the investors multi-millionaires overnight and stuff like that. Sort of makes you wonder if maybe billionaires in the arms industries shouldn’t be choosing “our” legislators through campaign funds before we get to “vote” for them.
Anyway. The latest assault on Social Security and Medicare is underway and, as always, were being told these programs are bankrupting America. To save the nation these programs have to go. By the way, anybody need a few new aircraft carriers? Cheaper by the dozen!
Where was I? Oh yes. Government debt is huge and Social Security and Medicare are to blame. Huh? Should maybe talk about money. Make it simple. Helps when the writer is a simpleton.
MONEY DOESN’T EXIST IN NATURE.
SOMEBODY HAS TO CREATE MONEY. OUT OF NOWHERE. OUT OF THIN AIR.
Article 1, Section 8, Clause 5 of the US Constitution says: CONGRESS SHALL HAVE THE POWER TO COIN THE NATION’S MONEY AND REGULATE THE VALUE THEREOF.
The SUPREME COURT HAS RULED this means ALL MONEY – COIN, PAPER, ELECTRONIC.
There it is! Our FEDERAL GOVERNMENT HAS THE POWER TO CREATE ALL OF OUR NATION’S MONEY. OUT OF NOWHERE. OUT OF THIN AIR. DEBT FREE.
Pretty straight forward. Begs a few questions.
If our Federal Government has the power to create all of our nation’s money, why would our government ever borrow money? Why would there ever be government debt? Why doesn’t our government just create the money it needs like Lincoln did to pay for the Civil War? The Civil War was paid for with government created, debt free money and bankers didn’t have a lean on Washington DC. Why don’t we just do that?
What follows is a great story. Pay attention: Once upon a time, long, long ago, in an ancient, forgotten past, about 1913, some bankers (maybe J.P. Morgan, Frank Vanderlip, Henry Davison, and Charles Norton) got together and said:
“We don’t like this deal where the government gets to create its own money. That should be our job. We know how to create money properly. Let’s pay off take a few cooperative legislators down to our ritzy resort on Jekyll Island for a week or so, treat em like kings, and explain to them how money should really be created. We’ll come up with a clever name – how does ‘Federal Reserve Bank’ sound? Everybody will think it’s owned by the government! People will believe anything. Anyway, we’ll get these politicians to shove through some legislation that says from now on the Federal Reserve Bank (the Fed) will take over the job of creating the nation’s money. We’ll get a bunch of our Wall Street buddies on the Board of Directors and before you know it, the power of money creation will be in the hands of the private bankers where it belongs. People will believe anything.”
And so it was. Congress, believing anything, gave up the power of the government to create its own money and gave it to the private bankers. Quite a deal. For the bankers. Of course, the nation could no longer create its own money to pay for stuff, so it had to borrow money from the private bankers, at interest, to do anything. So now our government is in debt to Wall Street for money that, according to the framers of the Constitution, should have been created by the government in the first place. Bankers love it! Nicely pads the campaign pockets of the legislators the billionaire bankers let us “vote” for too! Quite a deal.
Simplistically, the process goes something like this:
Congress approves of some project that needs funding. We’ll use a typical example. Congress approves an extra 100 billion for the Pentagon to go kill people around the world. The Fed then creates the 100 billion out of nowhere by tapping keys on a computer and sends this new money at low or no interest to a few select banks authorized to buy government treasuries or bonds. Our government then borrows the 100 billion from the select banks at high interest by selling the banks US Treasury notes. This money, which, according to the Constitution, should have been created interest and debt free out of nowhere by our government in the first place, now has to be paid back, with interest, to the Wall Street bankers by us, the people of America, through taxes. Of course, that means working people’s taxes because the legislators the billionaires pick for us to “vote” for have decided billionaires shouldn’t have to pay taxes. Quite a deal.
Well, one thing leads to another, and before you know it, our government, or “we the people,” are in debt to the banks for trillions of dollars plus interest. Now, we need to remember that the merchants of death in the arms industries are among the billionaires that fill the campaign coffers of the politicians we are allowed to “vote” for. And these legislators are rather fond of full campaign coffers (not to mention full pockets). So – – – borrowing a trillion dollars from the private banks each year to fund the Pentagon to fund the arms industries to kill people doesn’t seem to be a problem. But, suggest funding Social Security, or Medicare, or any of the dozens of other things that would actually help Americans, and “our” politicians rise in unison – – – “Good heavens! Look at the government debt! Spending is out of control! Social Security and Medicare (and anything else we think we can pull off when people aren’t looking) have to go!”
This, Dear Reader, is why we have government debt. And why we can’t afford to do anything but go around the world killing people. We the people need to abolish the Fed and return the money creation powers to our government – to ourselves. Parasites aren’t good for people or nations.
For more on returning money creation powers to our government see the Alliance for Just Money
To learn about transfer of money creation power to private banks see Jekyll Island