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Contents of Banks
Fed is a Privately Owned Fraud
The offer of free money will certainly catch everyone’s attention, but it also sounds too good to be true. Free banking means money free of fees and always available, but you still must repay the principal. This concept will free us from the destructive grips of private banks. To appreciate the benefits, you must understand that money is imaginary, and that money must always represent the value of American labor and the American natural resources that labor touches. Money is not riches, but merely a title to riches. Money is not ownership, but is a right to ownership. The Free Money Corollary states that money can not cost money, eliminating private bank owners, called banklords.
To rescue this nation from the destructive grips of the Federal Reserve System, Congress must create our money and never borrow again. This can be done by our own national bank, which we must create. The name suggested is BankGov, short for BankGovernment.
the private banklords that own the Federal Reserve System
create money out of nothing
by entering a figure in the computer ledger. That is all our BankGov need do, but representing labor this time. The difference will be the national debt, for that is the current bill those private banklords have charged us for creating our money for us. We can do it for free and not owe anyone even one dime for it. This process will
eliminate most federal taxes and
lower the cost of living down
to a practical level, where it will remain stable. The value of the dollar will stabilize and remain stable. Never again will there be a money shortage with high finders fees. Never again will there be interest rates. We must have money to run our lives in our economy, but we can no longer tolerate private bankers sneaking their greedy paws into the piggy bank. This solution is not new, but has been successfully used for hundreds of years, destroyed each time by amoral banklords.
Since we will own the bank, no interest or fees will be required. But if you borrow,
you must repay the principal on time
to avoid inflation from too much money in the economy.
Of course, MEL will be monitoring the money balance to avoid that inflation, and will cause taxes to remove the money you did not repay. Defaulters will not be popular. Incidentally, this will be the
to remove excess money from the economy.
Our own cost-free bank will not need fees. Costs of the banking system will be paid with newly created money by BankGov, thus spending money into the economy for all of us to use. This will probably cause an excess in the money supply in the economy and will trigger taxes to remove it. In this way the BankGov will be financed by the taxpayers, with those more able to pay shouldering more of the cost. To ensure that those using the bank are Americans that pay taxes, a current IRS return on file will be a prerequisite. Thus, everyone pays for the operation of our BankGov, which is all right since everyone uses it, or certainly uses the money.
This plan for our BankGov is very simple, is available for all, the poor as well as the rich, and it will end the frightening threat of interest and charges in payments. Of great welcome will be the absence of excessive closing costs. People will need only to qualify for the traditional 3 C’s plus any down payment needed to put them personally into the equity. Any title searches should be paid by the parties involved, but that cost would be incorporated into the loan. There should be almost no taxes due against a home, and these could be incorporated into the loan. It is our money and our bank, so the operation should be free and painless. This concept should boost the economy greatly.
Another crucial benefit can be realized with free banking, and that is control of inflation. If an employer uses his own money to finance his operation, he will expect a profit on the use of his own money, resulting in a product cost increase. That cost increase will start an inflationary price-wage spiral. But, on the other hand, if he uses cost free money from our BankGov, he can not honestly demand a profit on that financing, and the cost of production remains stable, especially if healthy competition is present. Eliminated will be the inhibiting problem of time in transportation and storage that adversely affects production efficiency and cost in our present system due to interest.
After all, money is merely an accounting system.
Money should be the free shuttle
that gets products made and delivered along the economic highway.
[ See InflationFull for a complete discussion of inflation. ]
There are seven points in the changes that must occur simultaneously.
The most important point is to totally
abolish the Federal Reserve System
and all its related legislation,
along with the Export-Import Bank, replacing them,
at the same time, with a
DFMS, a Debt Free Money System.
Under this new system, Congress will reclaim its right and duty as specified in our Constitution and create our money for us, debt free. That process will eliminate the national debt before it ever starts. We simply will not owe anyone for creating our money. Then, that money must be spent into the economy to enable us people to use it. Without a doubt, the best place to spend it is on education. The federal government should totally finance all public schools from first grade through college and graduate schools, plus all public libraries. All of this process is explained in easy to understand detail in my 265 page book, Money Is Unreal: Blowing the Whistle On the Federal Reserve System. Although space prohibits my covering the entire volume here, pertinent aspects can be presented. Open your minds and absorb these simple and practical details.
Since this paper is about money, a friendly word about bankers should be entered here. Not all bankers are to blame for the tangled mess that enthralls our economy. Most of the bankers that we common folks know and deal with are decent, regular people. They can be trusted and run a clean store. We will always need them to handle our money matters. To differentiate them from the bank owners, the bank employees that handle money and currency are called staff bankers. The bank owners are isolated into a group called banklords. Both terms are copyrighted. It is the owners, the billionaire banklords, that we must deal with. It is the banklords that this web page is pursuing.
Loan processing varies only as to complexity. The richer guys get bigger and more complex loans which will cost more to process with more payments, so they should pay more of the costs, and will through taxes. Percentage should be abandoned. It costs no more per payment to process a payment for a $1,000,000 loan than for a $100 loan. Percentage is unfair for us people. This should hold for title searches, also.
Money is nothing more than a ticket to the show, or a pre-paid purchase order. Money must never become a commodity for exchange. In addition, money need not be complicated (unless you own the Fed or a bank.) Paper and metal coin currency is not money, but merely represents money.
The catastrophe that can happen when money does become a god and a commodity of exchange is readily apparent in America today. The banking system deployed by the Federal Reserve System contains destructive elements inherent in their system.
The Fed is neither Federal nor reserve, and is privately owned and privately operated in secret for private gain. In analyzing the destructive elements deployed by the Fed, I have isolated two theories and discovered a corollary. The theories, named Triple Expo Factor and Time Warp Factor, graphically show the destruction caused by the Fed. To facilitate its inclusion in needed areas, the corollary has been given three names: Free Money Corollary, Basic Element of Economic Existence, and Basic Law of Economics. One need not use terms such as conspiracy. However, one does need to provide a means for people to see for themselves what is happening to them. The Free Money corollary and the Triple Expo and Time Warp Factors provide this framework. They should be recognized as economic discoveries.
This basic corollary has presented itself to me. It cannot be overlooked. Simple, yet profound, this corollary will redefine economics and business. It will force the scholars to rewrite the books in those fields. Replacement of texts will be necessary to stop and prevent the Triple Expo and Time Warp Factors from destroying this great nation and the world, enslaving all people, controlling all things. This basic Free Money Corollary states simply:
Money can not cost money in a stable economy in this United States, for when one pays rent for money, an inevitable price-wage spiral is instigated, causing what you call inflation. I defy any one of you to talk your way around this corollary when discussing a stable economy. In brief, only principal need be repaid. It is quite sound and simple, actually.
[ Questions? Check the Docs . See Theories for more on that subject. ]
ABCs of Money is ten pages totally damning the Fed by a House Banking Committee. ]
MEL is the formula I have developed to monitor the amount of money in the economy, operating automatically in a computer while everyone watches. The MEL formula is three capital letters, M E L, where M = the money supply in the economy, E = the value of the Earth’s contribution in production (natural resources), and L = the work week Labor value, never transferable, of the American workable force, including human services. American workers deserve to have their labor value in the economy at all times to provide jobs. Our famous inventor, Thomas Edison, said it in 1921, when he said that humanity and the soil should be the only bases for money. He added that there should be enough money in the economy to move the legitimate trade that is waiting to move, but not too much to allow speculation.
A very powerful, but less than honorable, international banker once stated that if he could control the money system, he did not care who made the laws. This has become the case and is the source of most of our worst economic and social problems in America today. Therein is the reason there is no money for our schools and to properly educate our children. In three words, the devastating cause is the private Federal Reserve System, which controls our national banking law.
Secondary financing must be prohibited. American citizens of dual citizenship must not be allowed to transfer capital out of America, other than for reasonable, personal travel expenses, or normal, approved trade. No foreign banks can be allowed on American soil or possessions.
[ See MEL for a complete discussion of MEL. ]
Since the concept of free banking will be inconceivable to the average politician, we people must exert pressure on them to see the way, our way, the way of us voters. There is only one avenue of approach to a solution left to us people, but fortunately it is practical and powerful. Simply contact your Congressional Senator and Representative and demand that Congress create needed money and never borrow again. If they do not, recall them from office and vote in someone who will. YOU HAVE THAT POWER! Let them know that they are working for you! Congress creating our money will cut the billionaire banklords right in two at the belt, exposing their nasty fraud for all to see and understand. For when you folks notice that our federal government can be financed without debt and taxes, you will ask why we even have a national debt. When you notice that there is always plenty of money for reasonable purposes, you will ask why the shortage and high rates and fees. When America starts asking questions, the Fed is dead.
Oh, yes. You must register and vote. Politicians are smart enough to check the voter rolls. If your name is not there, they will know you are merely blowing off steam and will forget you even called.
Please check the Docs for documentation.
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