How to create money out of nothing

December 1, 2011 | By | Reply More

Dennis Kucinich explains how the Federal Reserve created 7.7 TRILLION out of nothing, allowing many big banks to profit while starving ordinary Americans of capital. This is a dramatic illustration of why there are Occupy protests.

Kucinich is promoting the “Need Act “to reign in the Fed: “to restore the authority of Congress to create and regulate money, modernize and provide stability for the monetary system of the United States, retire public debt and reduce the
cost of public investment, and for other public purposes.”

Here’s a more detailed description of the proposed “Need Act.” It attempts to accomplish the following:

􀂾 Puts the Federal Reserve (Fed) into the Department of Treasury (Treasury) to make our monetary policy truly accountable to Congress and the American people.
􀂾 Ends the banks’ special privilege by no longer allowing them to create our money supply when they make loans, through a simple and non-disruptive accounting change.
􀂾 Invests money to renew our crumbling infrastructure, making it fit for the 21st Century; creating real wealth and millions of good jobs at the same time.

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Category: Economy, Fraud, Orwellian, Secrecy

About the Author ()

Erich Vieth is an attorney focusing on consumer law litigation and appellate practice. He is also a working musician and a writer, having founded Dangerous Intersection in 2006. Erich lives in the Shaw Neighborhood of St. Louis, Missouri, where he lives half-time with his two extraordinary daughters.

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