[Toddsterpatriot]

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?

[iconoclast63]

You have not asked me a single question, you have merely sat back and said I was wrong: I suggest you do your own research because you obviously have no data to refute my assertions or you would have provided it. I will include a link to help you out with the total debt burden since I have that link right on my desk top. Going forward, please present any of YOUR assertions which would contradict mine and I will be happy to address them and who knows, maybe I will learn something new. 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" According to mwhodges.home.att.net total public and private sector debt excluding contingent liabilites is $48.4 Trillion. 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. How is government spending money into the system MORE inflationary than allowing a central bank to loan it? Money is being created by the same process except under AMI's proposal there is no attendant debt, saving taxpayers BILLIONS in interest. Second, halt the banks privilege to create money You still haven't shown how they create money while lending less than their deposits. Ok, one more time. Banks create money when they use a deposit as the basis for a new loan then immediately return the money to the depositor. When you deposit $1000 in the bank and they use that as the basis for an $800 loan, THEN YOU COME BACK THE VERY NEXT DAY AND REMOVE THE $1000, that does not mean the $800 check they wrote the borrower disappears by some kind of magic. The money they loaned is REAL money that the borrower is using to pay for things, yet the original deposit that served to create that loan is no longer in the bank. Once again, WHERE DID THE $800 COME FROM??? 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? AMI is proposing to replace ALL existing Federal Reserve Notes with actual hard cash in the form of United States Notes. Every FRN in the banking system would be replaced by actual cash, so the banks would not suffer a loss, and going forward banks would ONLY be allowed to loan ACTUAL cash held in their vaults that BELONGED to the bank. They would no longer be allowed to loan depositors money unless the depositor agreed to allow the bank to hold their cash for the full term of the loan. Fractional reserve banking would be prohibited.