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The American Monetary Act Presented by Jamie Walton for the American Monetary Institute

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Presentation on theme: "The American Monetary Act Presented by Jamie Walton for the American Monetary Institute"— Presentation transcript:

1 The American Monetary Act Presented by Jamie Walton for the American Monetary Institute http://www.monetary.org

2 The American Monetary Act contains the initial minimum steps necessary to put time on our side for...

3 recovery restoration stability prosperity sustainability justice peace security freedom anything else we want...

4 The American Monetary Act has 3 inter-related elements which must all be done together to work: 1) Place the Federal Reserve System within the U.S. Treasury (like the U.S. Mint already is); 2) Take back the sovereign power of creating our money from banking to we the people through our government (as per the U.S. Constitution); 3) Create all money required by society without any debt attached and spend it into circulation to “promote the general Welfare” (well-being). i.e., we make the money system work for us.

5 What the U.S. Constitution says about money “[ The Congress shall have Power… ] To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;” (Article. I; Section. 8.; Clause 5:) Note: 1. The distinction between coin and Coin. 2. The correspondence between Money and Value. 3. The correspondence with determining a Standard of Weights and Measures.

6 The American Monetary Act TITLE I Sovereign and Constitutional power to create money taken back by Congress and restored within the U.S. system of checks and balances: All money is made U.S. Money (legal tender) Monetary Authority (a statutory body) determines how much money is needed in the economy to meet statutory monetary policy objectives Congress determines monetary policy objectives and authorizes spending of money (as now) Treasury creates and issues money as authorized by Congress and administers and regulates the monetary system and banking system (as now)

7 The American Monetary Act TITLE II Federal Government debt instruments are retired as they become due by paying U.S. Money. This money will then be available for investment in the private sector (through banks and financial markets).

8 The American Monetary Act TITLE III Present banking practices change so banks cannot create any money but can continue to lend money: All money is converted to U.S. Money (in all forms) Treasury administers the conversion process to ensure that banks always have enough money All money previously created by banks is returned to Treasury as it is received by banks from ‘borrowers’ Treasury re-issues this money (and more if needed) into the economy as needed via a revolving fund Banks stay in business like any other business

9 The American Monetary Act TITLE IV Federal Reserve System placed within U.S. Treasury to continue many of its important functions: Central Bank National payment systems management National funds processing clearinghouse Fiscal agent for U.S. Government Federal Reserve System experience and expertise is retained while its power over public policy is removed.

10 The American Monetary Act TITLE V Money created and distributed to create new wealth and restore existing wealth to good condition: Infrastructure improvements (hardware) Education and Health Care improvements (software – ‘human infrastructure’) State and Local government grants and loans (0%) Farming parity assurance (good food security) Citizens dividend (effects of initial trial measured) Immediate arrangements to resolve mortgages and to recover ‘bail-out’ funds – any and all fraud prosecuted.

11 The science of money “All goods must therefore be measured by some one thing... now this unit is in truth, demand... money has become by convention a sort of representative of demand; and... exists not by nature, but by law… money then acting as a measure makes goods commensurate and equates them...” – Aristotle (Ethics) We can demand what we can supply...

12 The science of money “a device... whose legal and permanent value... being officially promulgated, circulated and maintained its purchasing power... from its quantity. Since that time, only one consideration in an exchange is called merchandise. The other is called price.” – Julius Paulus (Code of Justinian) We need money to meet the price...

13 The science of money “Money’s essence (apart from whatever is used to signify it), is an abstract social power embodied in law, as an unconditional means of payment” – Stephen Zarlenga (The Lost Science of Money, p. 657) Note: it’s societal, and there’s no debt!

14 The science of money ensures sufficient money is available to meet the needs of the economy: Note: there’s no debt RealFinancial Wealth (Supply) dynamic flows of things available for sale at a price ($) Money (Demand) dynamic flows of money to pay those prices ($)

15 Here’s how we do it! The sovereign nation creates its own money through its government – not through banks. All money is created as money, not IOU money. No debt is created when money is created. Banks handle your money, but don’t create any. Banks only lend money they have already received for that purpose. The nation stops going into debt to get the money to get the things its already got!

16 What’s changed? By law we make the money in your bank account actually your money – like cash in your pocket. The money in your checking account will be yours and only you can decide what to do with it. Your bank will look after it for you. Any money you transfer to a savings or investment account will be your loan to the bank for it to loan or invest on your behalf. Your bank will act as your intermediary. These rules stop banks creating ‘money’.

17 The science of money ensures sufficient money is available to meet the needs of the economy: Note: there’s no debt RealFinancial Wealth (Supply) dynamic flows of things available for sale at a price ($) Money (Demand) dynamic flows of money to pay those prices ($)

18 PEOPLE (via White House) $ PEOPLE STRUCTURE CONGRESS TREASURY MONETARY AUTHORITY

19 The American Monetary Act contains the initial minimum steps necessary to put time on our side for life – That’s All!


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