Last week I explained that politicians were throwing $12 billion a week out the window because they refused to examine the consequences of not still having President Lincoln’s Greenbacks.
The real question is this: How do we make a popular coalition to support a non-interest bearing currency? I say we can guarantee support from Democrats for monetary reform, closing the Border and voting changes to stop the Liberal Democrat politicians from stealing 8 million votes every election.
As I said last week, politicians could cut $12 a week from federal spending if we still had Lincoln’s Greenbacks. But under the Greenback system we could also spend money into circulation. This would not be inflationary if we we increased the money supply at the same rate as the economy. Currently, the St Louis Federal Reserve Bank estimates the total M3 Money Supply to be $14,613,500,000,000.00000. But, as I said, most American dollars are overseas and we do need Debt Cancellation so I feel we could easily increase a reduced M3 Money Supply of $7.4 trillion without inflation at 4.5% which is $330 billion a year.
Currently, the Federal Reserve system allows privately owned banks to create our money. They gave themselves the right to charge us interest on money they created out of thin air. This creates a cycle of Booms and Busts. Booms are nice but they produce stampedes into the wrong sorts of business activities – McMansions but no housing for workers. They also create busts. 3 million Americans starved to death in the 1930s.
What I propose we do is give every citizen a Voter ID card. This will take millions of dead people off the rolls. Every card would have a magnetic strip just like bank cards. That way each citizen could only vote once. And poll workers would not be allowed to vote for millions of disenchanted voters who did not bother to show up to the polls. Needless to say, illegal aliens could not vote.
So why would most Democrats support a system that would cost their politicians 8 million votes every election year?
Suppose we have 230 million American citizens (excluding anchor babies) age 18 and over who are not in jail or a mental institution. We could spend $150 billion a year to increase our infrastructure spending and still have $180 billion left over for direct payment to 230 million actual citizens 18 and over. That works out to $782 per person or $1,564 per married couple which is $65 a month for singles and $130 a month for married couples. You could increase that slightly by cutting off payments to the wealthy.
As a practical matter, I would suggest that this money be paid out by automatic bank deposit towards the end of the month when most people are broke. I would not send checks by mail as I want everyone to have a bank account and learn to pay his bills.
In dozens of personal conversations I found universal support with working class Democrats and Independents. Politicians will try to give money to everyone but that would reduce the amount each person received.
And this proposal, if it were ever to see the light of day, would allow us to discuss why 60% of our money is overseas and that politicians have set us up for 50% cuts to our pay and pensions. The voters will learn that their politicians were giving away $12 billion a week as a subsidy to Billionaire Bankers. This will anger the working class Democrats who labored under the illusion that liberals actually cared about them.
Voter ID cards with a magnetic interactive strip would eliminate most welfare in some states. It would cut back on illegal immigration saving us billions on schools, prisons and healthcare. It would cut rents and lower taxes while spending an additional $150 billion a year on infrastructure which would boost employment.
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