Transforming the U.S. and Global Economy

[We are pleased to announce that our book, 7 Steps to Global Economic and Spiritual Transformation, is now available online at Amazon and at Barnes and Noble. The following article is based on the precepts of our book. ]

The current financial structure of the global political economy

Much has been written and said about fixes that could be made to rationalize the U.S. and global economy, but unfortunately almost all of the current proposals are completely within the box of the present monetary system, which means that, as a result, the planetary power structure and the income and asset gap between the 1% and the rest of us would not change.

Additionally, most of these proposals are completely within the silo of the present political system, based on assumptions that the reported vote totals actually reflect the way the electorate votes, and that there is a substantive different between the red and blue party marketing brands. But there is no evidence to support these assumptions, based on forensic voting analysis and the actual effects of the legislation passed by federal, state, and most county and municipal governments. Of course, a modicum of superficial distinctions, which can change¹ at any time, are necessary to maintain the illusion.

The still integral importance of Federal Reserve Notes (FRNs)

The underlying cause for this state of affairs is private control over money creation, beginning with the Federal Reserve System, which prints private bank notes as the medium of exchange for the world’s largest economy, as well as serving as the principle world reserve currency, involved in more than 60% of all foreign exchange transactions. The upshot—of the U.S. taxpayers paying principal and interest (what the cartel refers to as “the national debt”) to use these private bank notes—is that the U.S. is not a sovereign nation; that is, it does not issue its own currency.

The basis of a paradigm shift

While it is understandable that many monetary reformists assume the current system is monolithic, and that reform is only possible within its current boundaries and terms, such assumptions have no precedent in world history, nor in a cosmos where change is constant, even if, in the blink of an eye that is our lifetime, we are unable to see the changes taking place.

Putting aside the question of how the present power of the Anglo-Euro-American banking cartel is going to be challenged and how it is will eventually disintegrate—which we discuss in Steps 5 and 6 of our new book, 7 Steps to Global Economic and Spiritual Transformation—let us propose an alternative model that, by its compelling nature, will hasten such a change.

Changing FRNs to USDs

As Article I, Section 8, of the U.S. Constitution states, the power to create money is vested in Congress; and, in Article I, Section 10, the states are forbidden to issue paper currency. There is no power granted to allow Congress to assign or alter these sovereign stipulations. Clearly then, it would require a Constitutional amendment to change them, which automatically excludes the Federal Reserve Act of 1913 (mere Federal code) from any legal foundation upon which to operate, if the federal judiciary, including the Supreme Court, were not puppets of the banking cartel.

So, to return our nation to a sovereign constitutional democratic republic would first require that all Federal Reserve Notes be retired and replaced by dollars issued by these United States of America (the U.S.A.), an entity that differs legally from the U.S., which is a faux legal construct of the Anglo-Euro-American banking cartel, as we explain in Step 5 of our book.

The process of converting the national legal tender and the reserve accounts held by over 150 nations around the world, from FRNs to sovereign dollars, would drastically change the power structure on much of the planet, from one controlled by a few families to one controlled by sovereign nations. Such a process would necessarily involve some scrutiny over how certain FRNs were acquired, subject to codes that guide international conduct, including precepts drawn from sections of the Nuremberg principles, the Geneva Convention, and the United Nations Declaration of Human Rights, were any of these guidelines actually enforced.

Within the U.S.A., such a change would immediately retire the national debt via a payoff to a specific class of U.S. Treasury bondholders, while voiding any unlawful bonds that were created under the guise of selling them to legitimate parties, while in fact it was the market makers—Goldman Sachs, JPMorgan Chase, etc., which control the Fed—that were buying the bonds and hiding the fact via offshore transactions.

Ending the banks’ profiteering on war, disease, and education

In addition to reducing the liquid and capital assets held by the banking cartel (likely to the point of bankruptcy and seizure by the U.S.A.), transformation to a sovereign currency would alter ownership and control of key industries, as well as alter the fulcrum point of political, economic, and military power in the U.S.A. and around the world.

Just so, profiteering on war, disease, and education, would be eradicated, and the prohibition of charging interest for the issuance of credit—which is now embedded in approximately 40% of all costs of goods and services—would free up the productive capacity of the United States of America to repair our infrastructure, mend the social safety net, and encourage the deployment of machines, computers, robots, and artificial intelligence for menial and repetitive jobs, thus implementing the long-held human dream of reducing the required work week, while providing universal income, healthcare, education, and cultural amenities.

Ending interest and so-called sovereign debt, while maintaining credit markets

While capitalists may protest that their privately controlled system is responsible for the creation of so many of the assets from which we benefit, this is simply not the case, for it is CREDIT that created these assets. But, as we have seen, when credit is extended in a capitalist system, the 1% ends up with 90% of the assets; and labor, which created the value, ends up with almost nothing. This would no longer be the case in a publicly controlled monetary system, where labor—no longer subject to capital’s manufactured systemic failures, which are designed to steal the fruits of labor—would retain its share of the accumulated value it creates.

Establishing an economic bill of rights based on humanity credits and sustainability, and monitoring inflation and adjusting the money supply at a local level

As we discuss in Step 4 of our book, an economic system based on a public banking network and an economic bill of rights could monitor, at local levels, a basket of goods and services—that includes food, clothing, shelter, education, healthcare, and cultural amenities—for any inflationary or deflationary trends, much as is currently done with the consumer price index, and make adjustments to the money supply via dividends (what we call “humanity credits”) or credit availability issued to, or taxes collected from, individuals, corporations, or political subdivisions. Most of these adjustments would be made at a local level.

In this way, a rational and progressive monetary system—which would for the basis for a sustainable economy and stable currency—initiated by these United States of America would engender global transformation.

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Footnotes:
¹For example, the present adoption of McCarthyism (red baiting) by the blue party, or the destruction of the Social Security Trust Fund by both parties.

[We are pleased to announce that our book, 7 Steps to Global Economic and Spiritual Transformation, is now available online at Amazon and at Barnes and Noble. The foregoing article is based on the precepts of our book. ]