HOUSTON, TX – by Scott Keller:
Rand Paul, Hillary Clinton, Jeb Bush and the rest of the field are doing a great job of pointing out the other side’s role in the $18+ trillion national debt, but none of them demonstrates an understanding of what the national debt is and why we have one.
On my website, http://www.endthedebt.org, I show that neither taxes, nor spending are the cause of the debt, nor is the lack of gold backing.
The cause of the national debt, is the cause of every national economic problem and has removed the very sovereignty of the United States of America. The American currency, the US Dollar, otherwise known as the Federal Reserve Note, does not belong to the United States. It is barely even influenced by the United States.
But this is the reason for the shrinking of the middle class. This is the reason for the United States having ANY national debt. And this is the reason why Americans are working harder for less compared to decades gone by.
The cause of the national debt, and thus the key to solving it, is that rather than Congress creating or “coining” the nation’s currency, private banks create it in the form of loans to us. In other words, every dollar in circulation is a dollar of debt plus interest to a private bank.
The government, being “unable” to create the currency and spend it into circulation, then has to instead borrow, (i.e. sell bonds) from the already circulating river of debt called the US money supply, thus creating a 2nd layer of debt. This is simply insanity.
So you see, no matter how much we’re taxed and how low our spending, the national debt will continue, and so will all of our economic problems.
But the answer is simple and we can quickly neutralize and end the entire $18 trillion in less than a year. In fact it can be done with a single vote from national and local policy makers. Return to a sovereign currency. Replace Federal Reserve Note dollars, with United States Note dollars and return the Federal Reserve Notes to the Federal Reserve, thus separating the fate of America from the hands of the private banks and putting it back into the hands of we the people.
Ending the debt happens at the national level, but neutralizing it can happen city by city, town by town, and community by community.
We can quickly neutralize the national debt, and eliminate all local and personal debts by using local economic tools and strategies, such as a city run local supplementary currency which will allow any city or town to bring all debts local, out of the hands of the banks. Once local, the debts can be worked off quickly.
These same tools and strategies can bring, city by city, and town by town, an end to poverty, lack, poor health care, poor education, and late retirement along with solving less obvious issues such as traffic jams.
Even immigration can easily be solved with this duo of sovereign national and local currencies.
Whenever you have opportunity, ask all candidates why any sovereign nation, including the US, would be even $1 in debt and why we’d let the nation’s private banks create the nation’s money supply.