Forum Post: Congressman Kucinich's National Emergency Employment Defense Act
Posted 13 years ago on Oct. 30, 2011, 11:25 p.m. EST by riethc
(1149)
This content is user submitted and not an official statement
Occupy the Treasury and Support HR 2990:
http://coto2.wordpress.com/2011/10/23/occupy-the-treasury-and-support-hr-2990/
Update: I'm not too big on this act anymore, but it's worth checking out if you have never thought about how you could possibly reform of the money creation system.
I read through as much of MoshehThezion's critique of HR 2990 as I could handle. It contains many flawed points and misinterpretations of the bill.
For instance, where the bill states "prohibits the creation of private money through the establishment of lending credit against depository receipts, sometimes referred to as ‘fractional reserve banking’." you claim that the bill "SAYS it ENCOURAGES… FRACTIONAL RESERVE BANKING". Clearly, the bill is saying "prohibits... fractional reserve banking". I'm glad Mosheh has an interest in the topic of currency creation, but his lack of comprehension is unfortunate.
The process of turning a bill into a law requires many negotiations. This is the only serious bill that I know of which directly addresses the issue of minting currency. The control of the quantity of currency available is directly related to the health of the economy. We must take that control away from the Fed. This bill is an excellent start.
Apology or no???? As it stands I was still right. Say otherwise please. -Mosheh Thezion
woops... maybe again, I am acting and moving to fast for my own good.
SEC. 402. REPLACING FRACTIONAL RESERVE BANKING WITH THE LENDING OF UNITED STATES MONEY. (a) Conversion Process-
(f) Encouragement of Private, Profit-Making Money Lending Activity- The regulations prescribed and actions taken under this section shall be established and taken in a manner that-- (1) encourages private, profit-making money lending activity by banking institutions; and (2) prohibits the creation of private money through the establishment of lending credit against depository receipts, sometimes referred to as ‘fractional reserve banking’.
IT ONLY PROHIBITS IT FOR PRIVATE INTERESTS.. SPECIFICALLY.. AND AS SUCH, does not bar the nationalize Federal Reserve from resuming such if not at first.. in time... maybe 10 years later.. and use some funding excuse and the people will fall for it. As it is written, the Government could do it, but not private interests only.
So, perhaps you owe me an apology, ... you tell me, I like you .. you hit me pretty good. -Mosheh Thezion
JontyPTraveler, I wish to extend my hand in gratitude for your slapping me clear on a very real error, and I will make corrections and then pose simple questions, and that is whether that changes anything, and it does not because the entire thing simply shifts blame and makes it cheaper for banks to rob us, by pretending to create a real currency, which it won't unless it is stablized to commodity production as i advocate, and then even still, it leaves all the same debt and costs and burdens on the people as responsible to pay to still long term and potentially never ending debts. I say there is a better way to do the same thing, and actually offer more capital investment potential. Regardless... I always appreciate it when someone cuts me down a notch for my own stupidity, stupidity stupidity.... and I admit it, i was stupid in this sense, as I usually read and re-check my work up to 10 times before publishing and this time, I did not, and I pay the price of shame for my stupidity, and I will double my efforts. thank you again sir, I am in your debt. -Mosheh Thezion
Thank you for taking an interest in this.
Thank you for posting it here. It's a critical bill. I don't know of another that even comes close. Hope more people discover it...
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retitle this
Dennis Kucinich is right.
Federal reserve creates 7.7 trillion dollars for their own private interests. Unlimited resources for the banks while the economy crumbles and people are losing their homes. - http://www.youtube.com/watch?v=X1dkZShYP78
To create a full employment economy as a matter of national economic defense; to provide for public investment in capital infrastructure; to provide for reducing the cost of public investment; to retire public debt; to stabilize the Social Security retirement system; to restore the authority of Congress to create and regulate money, modernize and provide stability for the monetary system of the United States; and for other public purposes.
Read the bill - http://www.govtrack.us/congress/bills/112/hr2990/text
I get excite about NO WAR cheer leading
but the dems will have to do something to end existing wars to sway me
.
why the hell is he calling it an employment defense act !
people need food, shelter and healthcare
...
debt slavery is still debt slavery, and if the Federal Reserve is nationalized and making and using real money, then why would the banks still be charging us interest on loans???? because the government as the new bank, doesnt need to profit off of us... so why does it provide real money and still allow private banks to rob us blind?
SEC. 402. REPLACING FRACTIONAL RESERVE BANKING WITH THE LENDING OF UNITED STATES MONEY. (a) Conversion Process-
(f) Encouragement of Private, Profit-Making Money Lending Activity- The regulations prescribed and actions taken under this section shall be established and taken in a manner that– (1) encourages private, profit-making money lending activity by banking institutions; and (2) prohibits the creation of private money through the establishment of lending credit against depository receipts, sometimes referred to as ‘fractional reserve banking’.
I was mistaken... my fault to be sure, and I never claimed to be perfect, I had read it wrong, and it does prohibit fractional reserve banking, BUT THAT COULD ONLY MEAN THAT THE FEDERAL RESERVE AS NATIONALIZE MAKES NO PROFIT AS INTEREST, but if so.. it will interesting to see how they will keep the banks liquid.... I mean if they remove the fractional reserve aspect of the Federal Reserve but keep the system, that would simply mean that they would have to provide zero interest money to banks to lend out at interest to us, or otherwise come up with some other financial instrument to make it possible and yet not call it what it is.
Either way, it does nothing to end usury based profit taking, and as such is flawed because we are all still getting robbed.
-Mosheh Thezion
It is always possible that I made such a error, I am only human, however, it does not change the fact that the entire effort, would serve to pay off the entire national debt slowly, by the taxation of the people to pay for the exchange of dollars, and to buy up all the stock of the Federal reserve... so yes... it may restore real money... by reversing the bankruptcy, and HAVING THE PEOPLE PAY THE TAXES TO PAY IT OFF ... SLOWLY YEAR AFTER YEAR... and while it may create jobs it would just be the addition of further debt.. but all future debt would still be based on taxation... ON ALL OF YOU.
Am I wrong about that? -Mosheh thezion
IT IS NOTHING BUT A SCAM... I will yell it high and low.. because all you have to do is read it.. and it shows.. clearly.... IT only re-organizes banking and the FED... but changes little.. and is nothing but a change of structure while keeping all the criminal debt slavery.. it is wool pulled over your eyes. your comment about spelling only means you have nothing better to argue about... because i am right. --Mosheh Thezion Candidate for U.S. President in 2012 http://mosheh.org/Home.html 1-818-397-1352 campaign@mosheh.org
To all Americans.. do not be fooled this changes nothing, and actually will make it worse.
See -- > https://www.nycga.net/groups/vision-and-goals/forum/topic/hr-2990-is-nothing-but-a-lie-and-a-scam-do-not-be-fooled-it-changes-nothing/
for a full text explanation for why it is all a lie.
-Mosheh Thezion Candidate for U.S. President in 2012 http://mosheh.org/Home.html 1-818-397-1352 campaign@mosheh.org
Do you have any idea how much garbage congress people are bombarded with daily? And your caps lock, bad spelling, and so on just makes it even less likely anyone from his staff will look at the email for more than a few seconds before deleting it. If they did, they'd stop when the personal attacks against Kucinich started.
I called them myself, and offered to help him in every way to do it right, but clearly, based on the words of 2990, it was written by bankers, to serve them, and only them, and does nothing to free the people from debt currency tactics or loan sharking.
2990... serves bankers.
I will vote for you!....when Hell freezes over.
then you will get what you vote for... ha. I am the only candidate that promises to set you free, and i actually mean that... which you would understand if you read by website... but you either did not, or too stupid to realize that you have been robbed... wake up... I am not running because I am cool, I am running because I have to wake you up... because you being robbed.
Forum Post: Dennis Kucinich's National Emergency Employment Defense Act Posted Oct. 30, 2011, 11:25 p.m. EST (1 day ago) by riethc This content is user submitted and not an official statement
Occupy the Treasury and Support HR 2990: http://coto2.wordpress.com/2011/10/23/occupy-the-treasury-and-support-hr-2990/
3 Comments
I think Mosheh is blowing his own horn, seeking attention. The bill deserves a serious look from serious supporters of "Occupy." http://americanfreepress.net/?p=1094 KUCINICH MONEY BILL CAN UNIFY PROTESTERS OCTOBER 21, 2011 By Mark Anderson - As the Occupy Wall Street (OWS) movement enters into its second month, will a sizable number of protesters move beyond listing various grievances regarding corporate greed and rampant joblessness, in order to search out specific solutions that would represent lasting, fundamental changes for the better?... The best thing that could happen, based on today’s hard economic and political realities that AFP has studied closely, is for this globe-girdling movement to truly wise up to the system of the financial overlords, so the “heat” of protest can lead to the “light” of inquiry and to real, lasting reforms—specifically by permanently replacing this predatory monetary system with something that liberates the people from debt slavery and makes the production and sale of goods and services flow normally, leading to prosperity. .... The bill will re-assert the sole grant of constitutional authority to Congress to create money.” Of course, if Congress reasserts this sole constitutional power, then, by definition, the private banking system, at the top of which sits the Federal Reserve as far as these United States are concerned, must be denied the awesome power of money creation. Having that power in private hands, metaphorically speaking, arrogates the Federal Reserve Note above America, showing that bankers and their partners in credit-rating agencies have the captain’s seat in a command economy—to their perpetual profit as princes of “the 1 percent” caste... The bill champions a lot of libertarian and conservative goals by denying the Fed money-creation authority, which resonates with many socialists and liberals as well. Yet, title 5 has section 508 (“universal health care funding”) and section 506 (“Social Security trust funds”) which are traditionally liberal-Democratic themes but are often seen by conservatives as schemes leading to massive debt, waste and abuse. However, if money is created free of interest, as this bill, if passed, would mandate, the mechanism to provide or sustain such programs would differ greatly from what we have today—where every attempt to make major changes or create a social safety net is saddled with debt. In the bill, the Social Security part’s entire wording is: “The Secretary in consultation with the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds shall submit to the Monetary Authority any requests to cover impending deficits in Social Security Trust Fund accounts.” In other words, with new interest-free money comes a perceived means of shoring up suffering funds, something that ought to draw the attention of aging baby boomers and younger citizens who feel Social Security will die before they get old. Title 5 (Section 501) also contains “direct funding of infrastructure,” while another section (507) is, interestingly, “initial monetary dividend to citizens.” The latter, at least very generally, happens to resemble part of the “social credit” monetary reform first proposed by Maj. C.H. Douglas in the early 20th century; he called it a national dividend. Here is Section 507: “. . . the Secretary [of the Treasury], in cooperation with the Monetary Authority, shall make recommendations to the Congress for payment of a Citizens Dividend as a tax-free grant to all United States citizens residing in the United States in order to provide liquidity to the banking system at the commencement of this Act, before governmental infrastructure expenditures have had a chance to work into circulation. . . . The Secretary shall maintain a thorough study of the effects of the Citizens Dividend observing its effects on production and consumption, prices, morale, and other economic and fiscal factors.” The Monetary Authority, a U.S. Treasury entity under the bill, also would establish the criteria for “interest-free lending of United States Money to state and local government entities, including school boards and emergency fire services . . .” (Section 510) No one is saying the Kucinich bill is perfect, though its timing and content call for the attention of the protesters and all other concerned Americans at this pivotal time in history...
This bill... 2990 was clearly written by bankers.
ALL YOU HAVE TO DO IS READ IT SIR... and then.... look at my platform which was written first... and see what they cut out... and they cut out everything good, and set it up again.. to serve the bankers ... and it literally says.. it keeps the same lending system, and in fact it encourages it debate me... thats fine.. because i actually read the entire bill... DID YOU???.
yes and overall I like it.
That is only because you have been taught to think of your debt neck collar as a pretty and fashionable thing to have... You should simply take the time to consider the truth... at my website. mosheh(dot)org and debate that if you can.. I will be waiting. -Mosheh Thezion
no time for that . moshe for president. good luck with that.
no time for a workable solution plan... no time for salvation.. no time for taking things seriously.. no time for a challenge.. no time for making a real effort ..... no time for actually solving anything... good luck with that.
Glass-Steagall Act paired with the NEED Act. Think about it Mosheh.
thats a good start... but I would reverse the National banking ACt of 1933, and in doing so... restore constitutional law and real money again... as that is when it started.
yes... that would be a start... but does not end loan shark debt slavery tactics.
With your ideas, how do you establish credit?
Credit.. would stay the same.. I mean if you do not pay your debts, you have bad credit... if you pay them, then your credit is good. So... the only difference is... when getting a loan for a personal item like a home....is.. its interest free, but if you have bad credit, you had better pay your debts before you can get a loan. Also.. there would be private lenders... LOAN SHARKS... who would charge you interest... but they would be a last resort, that only people with the worst credit would ever use. As I discuss here... --> http://mosheh.org/Banks-47-Credit-Cards.html since we would be using real money, out of a nationalized federal reserve.... there is no mandate for interest payments, and the banks would serve the purpose of providing loans as a service which we need... but that does not mean they have to rob us, since they only middle man a transaction. Business loans... on the other hand could have interest, as it is not a personal loan. Again... credit... is what it is... it shows how trust worthy you are to make your payments, or not... and shows to your character. What I propose is that.. with real money... THERE IS NO NEED to let bankers rob us all.... since they do not lend their money anyway.... or would not, under the changes I propose. Please read the link. -Mosheh Thezion
Interesting, but I think once you remove interest for the People you may have some problems: Wouldn't banks actually be "losing money" when they made a loan to a person, since due to inflation, the money lent would be worth less than the money paid back in the future?
no... I propose a radical change... REAL MONEY.. that does not lose value... that is key... it would be stable... http://mosheh.org/Currency.html and as such.... banks today do not actually lend their own money... they take a cut... of money created out of thin air... created by the debt... such that today, the FEderal reserve takes a cut.. 1-2% and the bank.. takes a cut.. 1-2%... so... we change this... we create real money again, and as such, we allow banks to middle man the loan for fees... but without interest, as such is no longer mandatory.... in fact... in this way... people who have money, can keep it in the bank, and be assured of its long term value, instead of being compelled to have to invest it due to inflation losses... so that in 20 years... what you saved is still there instead of lost..... that is key. Also... under my proposals.. banks would not lose anything, as their risk is eliminated when it comes to personal loans as it becomes a transaction between the people and the new nationalized federal reserve... which is owned by the people. Also... banks would still make money by all becoming small business lenders, to which they can charge interest and would basically follow the same rules they do today... and they would do this because of major national expansion projects which makes assured economic expansion possible... http://mosheh.org/Fixing-the-Economy.html its a new deal... literally... set the people free of debt slavery tactics, and the government would create a new system of deliberate controlled expansion... and that expansion would be limited only by our population and their skills, instead of the whims of investor profits from debt payments..... i.e.. with real money... controlled by our government, we suddenly have almost unlimited credit potential to lend to ourself as a nation at zero interest... instead of borrowing from foreign powers or creating long term debt which needs to be serviced with interest payments... in this way... we can afford to build any project, as long as it can be shown to be worth doing, and will pay off in the long term, and as such it does not matter if it takes 200 years since it is interest free, and therefore we can transform the entire world if we wanted too... and we do. Please read the links I have provided, and ask any questions you find, as it is very helpful. -Mosheh
Switch accounts to your "local" Bank or Not For Profit Credit Union.
As the TBTF shrink in customer accounts they will go wild trying to get us to borrow.
Fuck em.
I was asking Moesh about his conception of a new better, financial system.
And?
You can read the whole thread if you like. HR 2990 is interesting, although I posted this last year. I'm not a supporter of it anymore myself.
I wasn't asking you.
Besides, I've already moved my money to a Credit Union a long time ago. Talking about the big picture here, not the personal choices one makes.
I'm sorry if you misunderstood my inquiry.
You sent me a reply to my comment:
[-] 2 points by riethc (926) 4 minutes ago
I was asking Moesh about his conception of a new better, financial system. ↥twinkle ↧stinkle reply permalink
As it didn't explain anything. I was wondering if there was more to the comment.
what does this act defend ?
I don't support this act anymore. It's a pretty old post.