You have not asked me a single question, you have merely sat back and said I was wrong. I suggest that anyone keeping track of this thread, not you Todd because you are an idiot, go the website I posted: www.monetary.org and read up on the subject. There is much to be learned and much to be gained by all of us by putting forth a serious effort to reform our corrupt monetary system. Here are the 3 principle recommendations of AMI, for your approval: Monetary reform is achieved in 3 parts which must be enacted together for it to work. Any one or any two of them alone won’t do it, but could actually further harm the monetary situation. First, incorporate the Federal Reserve System into the U.S. Treasury where all new money is created by government as money, not interest-bearing debt, and spent into circulation to promote the general welfare; monitored to be neither inflationary nor deflationary. Second, halt the banks privilege to create money by ending the fractional reserve system in a gentle and elegant way. All the past monetized private credit is converted into U.S. government money. Banks then act as intermediaries accepting savings deposits and loaning them out to borrowers; what people think they do now. Third, spend new money into circulation on infrastructure, including education and healthcare needed for a growing society, starting with the $1.6 trillion that the American Society of Civil Engineers estimate is needed for infrastructure repair; creating good jobs across our nation, re-invigorating local economies and re-funding government at all levels
You have not asked me a single question, you have merely sat back and said I was wrong.I asked you to post the sources for the numbers that prove your assertions about Fed ownership of Treasury debt as compared to foreign ownership of debt.
You never gave your source for "Finally, estimates say that the American people are in debt to the tune of over $40 trillion at present"
You never explained "and feeding the banking system with unlimited profits". Who earns those unlimited profits? Or how much those profits are?
No source for "The Treasury securities you speak of are sold FIRST to the Fed"
I suggest that anyone keeping track of this thread, not you Todd because you are an idiot
If you say so, noob.
First, incorporate the Federal Reserve System into the U.S. Treasury where all new money is created by government as money, not interest-bearing debt, and spent into circulation to promote the general welfare
Good way to pump up inflation, idiot.
Second, halt the banks privilege to create money
You still haven't shown how they create money while lending less than their deposits.
by ending the fractional reserve system in a gentle and elegant way.
By causing a new Great Depression? LOL!
All the past monetized private credit is converted into U.S. government money.
Huh?
Banks then act as intermediaries accepting savings deposits and loaning them out to borrowers
Exactly how is that different from what they do now?