Public Forum

FDR's Economic Bill of Rights is long overdue, but it's important to recognize that to realize this we need to take back control over our money and credit. This begins by following the Constitutional directive that the power to issue currency and regulate its value must be overseen by the legislative branch. Various factions, left and right, agree on this goal, including Dennis Kucinich and Ron Lawl. There is some disagreement as to how best organize the infrastructure, but that is a more technical discussion. The position of the Public Banking Institute is that a network of public banks (state, county, and municipal), that oversee and leverage public monies in the public interest, would work in tandem with a public bank at the national level to bring liquidity to Main Street where and when it's needed.

↥twinkle ↧stinkle reply permalink

[-] 1 points by Eargasmic (1) 13 years ago

"Every generation needs a new revolution" - Jefferson

These protests against greed and corruption are more than justified. But they're overdue by at least three generations. We all got too comfortable letting the stream take us along while most of us had a raft, a boat, a yacht. Any demands of this powerful movement should bring real change and not more shortsighted bandages.

In combination with FDR's Economic Bill of Rights, we need to address the roots of greed and corruption. Who owns the Federal Reserve? That's a great start. Who profited from the billions of dollars missing during the Bush administration? Excellent trail to follow. But at the core of this mess is always one man or one group or one traitor.

Conspiracies aside, the laws of power are absolute. Go far enough up and it always reaches one individual. N.M. Rothschild? Maybe. Carlisle Group? Whoever is at the top profitting from the entirely of the privatized bonds market that funds all nations is where demands for OWS should start. Taking on "Big banks" or "Wall Street" isn't going to fix anything. Know your enemy in the war before wasting demands on some tiny battle.

↥twinkle ↧stinkle reply permalink

[-] 1 points by Keithoc (24) 13 years ago

That's what started the whole mess: http://en.m.wikipedia.org/wiki/Timeline_of_the_United_States_housing_bubble

Here is a better idea: The whole fractional reserve banking system needs to stop.

Fractional reserve banking works like this: the bank prints paper notes and loans them to government in exchange for government bonds, which are real wealth, as in, peoples' tax dollars. Then the bank charges interest on the funny money they print out of thin air. Not only that, but they only need to keep 10% of the bonds deposited and can loan out the other 90%, so more money is created out of nothing, with interest! This is why President Lincoln was assassinated, because he threatened to overturn the National Banks Act, and return America to their debt free currency, the greenback. The fact is, if the debt was all paid, the money supply would cease to exist. This is why in a fractional reserve system, debt will perpetually exist.

One part of a solution to the problems we are facing is creating a LETSystem. LETSystem uses interest free currency equivalent to the value of the dollar to purchase goods and services from other members of the community. Local Exchange Trading Systems have created prosperity and community in communities in Australia, New Zealand, Canada, and L.A. LETS do this!

posted by Keith

↥twinkle ↧stinkle reply permalink

[-] 1 points by malikov (443) from Pasadena, CA 13 years ago

It is our duty now to begin to lay the plans and determine the strategy for the winning of a lasting peace and the establishment of an American standard of living higher than ever before known. We cannot be content, no matter how high that general standard of living may be, if some fraction of our people—whether it be one-third or one-fifth or one-tenth—is ill-fed, ill-clothed, ill-housed, and insecure. This Republic had its beginning, and grew to its present strength, under the protection of certain inalienable political rights—among them the right of free speech, free press, free worship, trial by jury, freedom from unreasonable searches and seizures. They were our rights to life and liberty. As our nation has grown in size and stature, however—as our industrial economy expanded—these political rights proved inadequate to assure us equality in the pursuit of happiness. We have come to a clear realization of the fact that true individual freedom cannot exist without economic security and independence. “Necessitous men are not free men.”[2] People who are hungry and out of a job are the stuff of which dictatorships are made. In our day these economic truths have become accepted as self-evident. We have accepted, so to speak, a second Bill of Rights under which a new basis of security and prosperity can be established for all—regardless of station, race, or creed. Among these are: The right to a useful and remunerative job in the industries or shops or farms or mines of the nation; The right to earn enough to provide adequate food and clothing and recreation; The right of every farmer to raise and sell his products at a return which will give him and his family a decent living; The right of every businessman, large and small, to trade in an atmosphere of freedom from unfair competition and domination by monopolies at home or abroad; The right of every family to a decent home; The right to adequate medical care and the opportunity to achieve and enjoy good health; The right to adequate protection from the economic fears of old age, sickness, accident, and unemployment; The right to a good education. All of these rights spell security. And after this war is won we must be prepared to move forward, in the implementation of these rights, to new goals of human happiness and well-being. America's own rightful place in the world depends in large part upon how fully these and similar rights have been carried into practice for all our citizens. For unless there is security here at home there cannot be lasting peace in the world.

↥twinkle ↧stinkle reply permalink