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Fundamental Monetary Policy Is A Shamble

Comment 8th August 2010

This goverment should adopt a valid monetary policy in place of the obscure but undeniable anarchy which plagues all modern money systems.  First, abolish fractional reserve banking within the bankng system so that bank accounts maintain a backing in real money. Secondly, grant the National Goverment to create money so that the economy might remain stable.  Thirdly, use government-created money to fund all goverment ventures (NHS, rail, Courts, etc.) without taxation.  Lastly, abolish all taxes excepting a sales tax, so that the monetary growth does not inflate the currency, while giving people the freedom to pay taxes only by their purchases.

Why does this matter?

Because banks create money through fractional reserve banking, they can inflate the money supply.  Because the government has yielded its duty to create money, it must tax its citizens to fund public ventures.  Because the government must tax, it is powerless against downturns in the economy apart from debt.  By adopting real money instead of debt, bank runs will become impossible. By giving the government power to create money through production, ALL, ALL, ALL government expenses can be paid apart from taxation.  By instating a sales tax, the government can halt or reverse inflation over time, collect revenue from visitors, and will give the people their right to keep the fruits of their labours until they Willfully purchase products in the market.

To remove fraud and government powerlessness, do these.


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