Our government does NOT create money, it should but it does not and hasn’t since Greenbacks. All our money is created by private banks as debt when loans are made and that is why at the end of every business day banks report their loan transactions to the Fed. If our government could create money why would we be 23 trillion dollars in debt? All the major corporations are creatures of the financial industry, it was bank credit that created them and that is where the profits flow. You cannot plant a field or drill an oil well without credit, ask any farmer. Debt for money is the control mechanism that gives the oligarchs, the capital holders of the banks, the big depositors, control over industry and government. All this was exposed by the Pujo Committee investigations of 1912. They mapped out how through interlocking directorates the big banks controlled every major industry.

Despite this our bribed Congress gave the banks their private central bank, the Fed, which was supposed to stabilize the banking system that had been causing havoc from the very beginning. It did not, of course, becasue they make a lot of money off of that havoc. They make money while blowing up a bubble and when it bursts they can buy up the real wealth used for collateral for pennies on the dollar. So Between 1929 and 1933, a third of all American farmers lost their farms and hundreds of thousands of businesses lost, among them 4000 banks in 1933 alone, were absorbed by the financial industry. At the time hundreds of economists supported Fisher et al’s monetary reform as the solution but was rejected again by a bribed Congress. Congressman Wright Patman, chair of the House Banking Committee who fought against the banks and his bribed colleagues said,“the root of all evil is the concentration of economic power in the hands of a small number of bankers.” How much do think things have changed today? We bailed the banks out yet again but this time added a little item to Glass-Steagle that allows the banks to bail themselves out at our expense without have to come back and ask Congress. So where do you think that is going to lead?

We the People better organize and take our public monetary authority back. We already have the legislation vetted and introduced to Congress in 2011 that would change the bookkeeping rules to ban banks from creating money called the NEED Act HR 2990. It realigns our national finances with our Constitution and will allow us to pay off the national debt as it comes due all while funding the common needs and general welfare of the American people.

Of course, anyone who says that is a crazy crank not to be listened to, right? As Marshall McLuhan said, “Only the small secrets need to be protected. The big ones are kept secret by public incredulity.”