Don’t ‘lend’ it! ‘Spend’ it!
America doesn’t need to rely on bank loans to have money. We can have liquidity by creating money and ‘spending’ it into circulation rather than creating all money as loans and ‘lending’ it into circulation.
We can ‘own’ our money rather than ‘owe’ our money. Minnesotans can simply demand passage of proposed legislation that would enable the state-regulated banks to create the new money as book entries the way they do when they make loans. The state bank will then forward the new numbers (money) to the state which will spend them into circulation debt-free as payment for the maintenance and production of public roads and bridges in lieu of taxation or bonding (borrowing).
‘Spending’ newly created money into circulation rather than ‘lending’ it into circulation will increase the money supply with a corresponding increase in new production and provide an immediate increase in liquidity and cash flow with no inflation, no new debt, no new taxes and create high-paying jobs, commerce and a bright future!
Let’s stop beating the ‘special interest debt horse’! It will not get up and run again. Loaning all new money into circulation and the resulting unpayable, compounding debt it creates has almost killed us. More borrowing, if more borrowers can be found, will only make our growing problem worse. Borrowing more money to pay last year’s debt plus the interest will not solve our debt problems. Money produced, as a debt-free representation of wealth to all of society is the only workable, just and true solution.
We gave our Congress the authority to “coin money” and to “provide post roads.”
‘Spending’ is only a problem when all money must be borrowed first! Our ‘financial crisis’ is the result of creating all new money as loans and lending the principal into circulation. The principal is uncreated when it is repaid. The process allows no means to create the interest that must also be paid. That is why the indebtedness and money shortages constantly grow.“The actual creation of money always involves the extension of credit by private commercial banks.” Source: Russell L. Munk, Assistant General Counsel International Affairs, Dept. of the Treasury. Money for paying interest on borrowed money “… comes from the same source that all other money comes from.” Source: Russell L. Munk, Asst. Gen. Counsel Intl. Affairs, Dept. of the Treasury. “Money that one borrower uses to pay interest on a loan has been created somewhere else in the economy by another loan.” Source: John M. Yetter, Attorney-Advisor, Dept. of the Treasury.Money is sterile. It has no natural reproductive abilities. It must be manufactured like homes, cars, furniture, etc. Once money has been created (manufactured) there are only 3 ways to move it into circulation. It can be:
·‘gifted’ in, destroying the incentive to produce. ·‘loaned’ in, eventually destroying our lives.·‘spent’ in, debt-free as payment for production.
From 1792 to 1934, our medium-of-exchange was switched from an evidence of wealth to an evidence of debts. Congress unlawfully delegated its authority to ‘coin money’ to the banking industry.
Congress’ authority to ‘coin money’ meant that it was to monetize (make into money) our production as a debt-free asset to us thereby creating a debt-free medium of exchange, an economically free and prosperous people. All of society benefited.Unlawfully giving this authority to the banking industry resulted in the banks creating and ‘lending’ the new money into circulation rather than ‘spending’ it into circulation. This forces us to incur unpayable interest-bearing debts to have a medium of exchange to save and use in commerce.
The solution to our inevitable destruction is not in fiscal, budgetary or tax policy but in monetary policy. Just one principle must change. We must stop ‘lending’ all new money into circulation and start ‘spending’ all new money into circulation as a payment for production that unquestionably benefits everyone equally (that could be public roads and bridges) in lieu of taxation or bonding.
This way, the money supply increases with the increase in goods (production). No inflation! No new debt! No new Taxes! Tax reductions! Liquidity! Cash Flow! High-paying jobs! Commerce! Life!
How bad will we let things get? You can help stop the injustice, chaos, hardship and destruction. State legislation titled, the Minnesota Transportation Act, has been written to implement this solution in Minnesota.
Contact your state Representatives. Tell them you want new money ‘Spent’, NOT ‘Lent’ into circulation and to support passage of the Minnesota Transportation Act or send them this pamphlet.
Gregory K. Soderberg, Austin, MN. 507-440-1015 www.wealthmoney.org
“America, this is our moment. This is our time. Our time to turn the page of the policies of the past.”- Barack Obama June 3, 2008.
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