Forum Post: America Needs new Currency
Posted 13 years ago on Oct. 7, 2011, 11:38 a.m. EST by entrepreneur
(69)
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America cannot be financially run by FED and 1% . We the people need to institute new federal bank like 'Reserve bank of USA'. This bank should be regulated by elected government of 99%. Government should convert our existing FED Note Dollar to New American Dollar. Today both president , federal government and state government does not have power to do any real financial reforms because the FED is ruling this country as ghost government. Lets put the financial power in the hands of elected governments.
The design of what gives money value is flawed. It needs a new value base that isn't declared (fiat) or backed by a natural resource that we have no reasonable ownership over (sound currency).
We need a currency, and a economic system that values work and not profit. We need to realize that in the natural world there is no such thing as profit and waste, and that if we want to continue living in it sustainably, we have to design our economy and our currency based on a networked organic system of localities, where our currency is based on equitable trust instead of gold or profit and insurance rates.
or, rather, instead of a currency based on credited debt. Our economic system, as it is, is a mechanistic system (one that works toward a desired "profit," and where "waste" is created in the process). The value is based on imagined "debt." In an organic system our economy would be based on natural growth and decay. If our currency was bound to the value of work and workers, then our currency could be a direct meter of the size of the economy. It would grow and decline in some areas, naturally, as certain industries grow and decline to meet necessary demand. Our "GDP" would literally be our currency.
Agreed - this is essential before anything else - and this is where most resistance and violence against us can be expected.
Watch the documentary 'The Money Masters' - it's on Google video...
Yes, this is true - but because of the damage that has already been done - i.e., Bernanke tripling the money supply in the last 3 years - There will have to be a massive default on the money in order to restore it to a gold standard.
In other words, I don't think we can just convert over and have our dollars be worth the same as before. Because it isn't backed by anything of value.
Ending the Fed is one of the necessary first steps, certainly.