"Renaissance Thinking About the Issues of Our Day"
Why is the central bank of any country like its health care system? Because it only works for the people when its in public hands. That's because when the monetary system is being controlled by the private banks, they act as middle men, and they don't do it for free. Oh, so you say, "Well, the government can't just print money!" Why is it that so few realize that right now, the four big banks in the Federal Reserve are "just printing money," and they're doing it like crazy. How do they get it into circulation? They make loans with this new money. That's a pretty good business to be in, being licensed to create the money supply, and to loan it into circulation, and charge interest on almost every penny of our monetary system. It very much like we are renting the air, or its like suddenly having to pay to draw water from your peoples' traditional springs. Now, some will argue that the "Fed" must give 85% of the interest it collects on this bank created money supply back to the US Treasury. This may have been what the original law said, but it is not what is happening now on the majority of this so called "ledger entry money."
Creating money, regulating the monetary supply, is not the problem. Some one has to do this. Money must be created. The problem arises when the central bank, "The Fed" in our case, is controlled by the private banks. This is not some sort of public service they do out of the goodness of their hearts. They do it because it makes them richer than nations. The Constitution mandates a fully public central bank. If this stipulation in the Constitution were to be honored, the banks would recede to a more appropriate level of power and influence, and suddenly there would be a whole lot more money circulating because, it would not all be chased by the need to pay the interest to the private banks.