| | My proposal for improving the Federal Reserve:
1. Remove tax on private bank currency & commodity trades. If the value of something goes up while a person has possession of it, but the person makes no change to it, any increase in purchasing power should not be considered income during sale. Restore enforcement of contracts who's terms require payment in private bank currencies and commodities.
2. Remove all reserve requirement laws. The only requirement should be that a bank reports their reserve ratio, reserve size, and give notification to customers before altering reserve ratio.
3. Set a fixed rate at which the USD monetary base can grow each year. This rate should be something near the historic increase in gold supply (~1.5%?). The newly created money may only be used to finance the federal reserve's printing & electronic checking services, and to fund the federal government. Any "dollars" attempted to be created beyond the monetary base growth rate may be refused without penalty. Any such limit exceeding "dollars" must be named something other than dollars on printed currency, placed in separate accounts electronically, and tracked of their own monetary base separately. The name "crimebacks" is suggested for limit exceeding "dollars". Any future attempt to change the USD monetary base inflation rate must be approved by 90% congressional vote with 100% participation.
4. Outlaw the Federal Reserve from loaning from and to others.
5. Outlaw the Federal Government from loaning from and to others. This is not a reforming the Federal Reserve, but I thought it might be helpful to sneak this line item in there. Contracts must be paid for in full on completion of service and delivery of product. Products and services that are continually delivered and provided must be paid for in full within a month of first outstanding debt.
#1-2 Restores money to the free market. Yay for being able to trade with whatever we want and having free market choices in where/what we can store our purchasing power in.
#3-4 defines what the USD is. It puts strict limits on what the Federal Reserve can do... ensuring that the Federal Reserve cannot steal purchasing power from people who would like to work extra and invest in their future. Yay for people who earned purchasing power through production and trade having all of their purchasing power. Yay for bankers no longer being able to print themselves unlimited purchasing power as fiat money valued via our productive efforts.
#5 Just threw that in there to help congress limit their budget and ensure future solvency of the Federal Government... and ensure that the Federal Government will not steal from people who would like to work extra and invest in their future.
The Federal Government would have to balance its budget and potentially even default on its debts in order to adopt this policy. In my opinion, this would be the only way to save the USD and minimize default by monetary base inflation. Going to a gold standard before adopting this policy would be unwise, since there is no good way to tell what price USD should be fixed to gold. Allowing private banking would eliminate any need for the USD to be backed by gold, as people who would like to trade and bank in gold would be free to do so.
The value of USD may actually drop to nothing if the Federal Government discontinues its practice of forcing people to accept USD and attacking & taxing people who use other forms of money in trades. If it does, no big deal. Private currencies and commodities will quickly replace USD and exceed satisfaction of producers and tradesman.
With banking and government thieves no longer being able to steal saved wealth by purchasing our stuff using money they print themselves out of thin air... it will once more be worthwhile for us to produce beyond our basic needs and invest in our future. Producing more than consuming is the key to prosperity. Thieves who want you to work to give value to their fiat, and pay taxes to them on income and sales preach that increased spending results in prosperity.
We now know how things must change in order for us to be prosperous. We know who our enemies are: those who want to tax our income and sales (to fund their goals), and force us to use their money (which they print for themselves to fund their goals). Now if only we can defend ourselves and make the changes!
What would be awesome would be if a state (whether in the US or external) were to rise up and implement 1-5, whether the US Federal Government approves or not. And of course for the state to defend its citizens from the criminal wrath of the US Federal Government if it chooses to enforce its corrupt monetary monopoly. At this time I doubt the sheep & leech US citizens would popular vote for restoration of private money and free trade at the Federal level.
|
|
