Dennis Kucinich Proposal: "The Way Out"

LONG read, but great shit!

PLEASE FORWARD FAR AND WIDE

http://www.opednews.com/articles/1/The-Way-Out-by-Richard-Distelhors-090528-664.html

May 28, 2009 at 11:40:19
Promoted to Headline (H2) on 5/28/09:
The Way Out
by Richard Distelhorst
www.opednews.com


Here's a truly progressive proposal to reform the privately-owned,
debt-based monetary system. Two time presidential candidate
Congressman Dennis Kucinich (D-OH) will soon be introducing this
legislation which truly is the way out of recession and back to
prosperity. The following article summarizes the legislation and also
provides a link where the proposed American Monetary Act can be read.
THE WAY OUT
The primary cause of a recession is a shortage of money in the hands of
the American people, the way out of recession is to put more money in
their hands. Under the present monetary system this can only be done by
borrowing more and going deeper in debt. It is difficult for people
to understand that we have no money, instead we circulate bank-created
interest-bearing debt as a "substitute money."
The American Monetary Act takes three simple steps to correct this debt
problem.
(1) Incorporate the Federal Reserve Banks into the U. S. Treasury where
all new money is created by government as real money, not
interest-bearing debt, and spent into circulation to promote the general
welfare; monitored to be neither inflationary nor deflationary.
(2) Eliminate Fractional Reserve Banking in a manner that makes the
federal government the only entity with the power to create, issue and
regulate our money, as Article I, Section 8, Clause 5 of the United
States Constitution mandates.
(3) As the "debt-money" created by the privately owned Federal Reserve
System and the commercial banks disappears when debts are paid, it will
be replaced with real money spent into circulation to rebuild our badly
decayed public infrastructure, which includes roads, bridges, dams,
water and sewage plants, mass transit, schools, etc. It also includes
universal health care and education for all. This will create
millions of high paying jobs. Also a substantial stimulus check will be
sent out to immediately put money back in the hands of the American
people. We don't need to "get credit flowing," we need to get real
money flowing. All of this will be an interest-free, debt-free,
inflation-free dividend to the American people.
What the so-called "too big to fail" banks don't want you to know is
that all of their money was created in the form of debt, and when they
can no longer create more "debt-money" it will disappear as the debts
are paid or defaulted, which means we will have to replace their debt
money by spending real U. S. dollars into circulation. Then we will
finally get the benefits we should have received in the first place -
and all these benefits come without debt, without taxes, and without
inflation. It will be a permanent money supply, not temporary as the
present bank-created "debt-money" which disappears when debts are paid.
The real money we will need to spend into circulation to replace this
"debt-money" is literally trillions of dollars. And it all will appear
as a bonus or dividend for the people. This will be permanent money
with no debt or interest charges attached.
To allow this recession or depression to continue when the way out is
well known is inexcusable. The American Monetary Act IS the way out of
the present recession.
Click the link below to read the American Montary Act
http://www.monetary.org/amacolorpamphlet.pdf
HERE IS HOW THIS "DEBT-MONEY" CREATION PROCESS WORKS - HOW THE FED AND
THE BANKS CREATE MONEY "OUT OF THIN AIR."


Step 1: The Federal Reserve Bank of New York "buys" assets, normally
government securities for sale on the open market, by creating the
"money" to buy them out of thin air, and, in the process, the big banks
are given, free of charge, an equal amount of new, so-called "reserves."
These "reserves" become the basis for a 10 to 33 fold expansion of
"debt-money" which will be loaned into existence by the banking system -
with an interest charge attached. We must all realize that, as
Congressman Kucinich says, "The Federal Reserve is no more Federal than
Federal Express." It is privately owned and controlled by the "too
big to fail" banks.


Step 2: Based on new "reserves" just created out of thin air and given
to the big banks free of charge, the banking system uses the Federal
Reserve's Fractional Reserve System to expand or multiply those
"reserves" by 10 to 33 times. These so-called "reserves" are
sometimes called "high-powered dollars" because of their multiplier
effect. The required reserve on demand deposits is presently 10% for
big banks and 3% for smaller banks. So, for the big banks, if they
received, for example, one million of new "reserves" just created out of
nothing by the Fed, they can create out of nothing, and loan out at
interest, ten times that amount. If and when any of these new
"reserves" trickle down from the big banks to the small banks, those
banks, with a 3% reserve requirement on demand deposits, can create out
of nothing, and loan out at interest, 33 1/3 times the amount of new
"reserves" just received.


That's the whole process as simply as it can be stated. The end
result is that, using the example of one million of new "reserves", our
people and their government and businesses are deeper in debt, interest
bearing debt, not one million dollars deeper, but someplace between $10
million and $33 million deeper. The more "debt-money" we have, the
deeper in debt we are.
The American Monetary Act eliminates this debt-based system and takes
back the power to create, issue and regulate our money. This
legislation is the way out of recession and back to prosperity.
The banking system presently holds over $7 trillion of deposits.
These are all in the form of interest-bearing "debt-money." When
banks can no longer create money and loan it into circulation with an
interest charge attached, all $7 trillion will disappear as debts are
paid or defaulted. But we need this $7 trillion in our economy, so
the government, under the American Monetary Act, will replace the
"debt-money" as it disappears with real U. S. money spent directly into
circulation as a tax-free, debt-free, interest-free dividend to the
American people.
HERE IS WHAT REPLACING $7 TRILLION OF "DEBT-MONEY" WITH REAL U. S. MONEY
OVER THE NEXT FEW YEARS CAN MEAN TO YOU AND YOUR COMMUNITY.
While the final decision on how to spend this $7 trillion will be made
by Congress and the President, here are some definite possibilities.
The dividend check and the program to rebuild the infrastructure are
the first two programs suggested by the American Monetary Act.


$825 billion to issue a check for $5,000 to every person on the Social
Security rolls, both those working and paying in, and those retired and
receiving benefits. This is as much as the whole Stimulus Plan passed
by Congress but, instead of borrowing the money, it is spent into
circulation as a dividend to the American people. $5,000 in the hands
of all American workers will go a long way towards ending the current
recession.
$300 billion to rebuild and improve the public infrastructure - schools,
bridges, roads and streets, water and sewage plants, mass transit, etc.
This will be $300 billion a year for at least eight consecutive years.
This money is spent, not borrowed, into circulation in replacement of
the old bank created "debt-money." Direct grants will be given on a
per capita basis in all 435 Congressional Districts. Here's what this
would mean in a city with a population of 27,000, a county with a
population of 40,000 and a school district with an enrollment of 4,100.
THE COUNTY: $7.4 million - an 8 year total of $59.2 million.
THE CITY: $13.5 million - an 8 year total of $ 108.0 million
THE SCHOOL DISTRICT: $8.2 million - an 8 year total of $65.6 million


That adds up to a combined $29.1 million a year - an 8 year total of
$232.8 million.
THESE ARE DIRECT GRANTS, NOT LOANS. Think how much the public
infrastructure and the economy of that city and county will improve with
these funds available.
You can figure how much your city and county would receive each year.
The formula used to distribute the $300 billion a year is: Your
City or town will receive its population times $505 per person. Your
County will receive its population times $175 per person. Your
Schools will receive $2,000 per student enrolled. And your State will
receive its population times $90 per person.
This program will put millions of people to work at high paying
construction and manufacturing jobs. Just the dividend check and this
program together will end the present recession and return us to
prosperity.
$300 billion to provide full employment for all at a living wage. The
government would become the employer of last resort. The living wage
would be $10.00 per hour plus health care benefits. This program
would be similar to the WPA (Works Progress Administration) and the CCC
(Civilian Conservation Corps) of the 1930s.
$100 billion to Save Social Security as it is and, at the same time,
exempt the first $25,000 of earned income from the 6.2% employee share
of the Social Security tax - resulting in a $1,550 pay raise for
everyone earning $25,000 or more a year. The current "cap" on
earnings subject to the Social Security tax is $102,000 per year. That
cap will be removed and the Social Security tax, like the
Medicare/Medicaid tax, will apply to every dollar earned (after
exempting the first $25,000).
Universal Health Care. We will finally have universal health care
like almost all industrialized countries in the world. We presently
pay 17% of GDP for health care and over 45 million people are not
covered. The other countries cover all of their people and spend 10%
of GDP or less. We're already paying for universal health care, we're
just not getting it. Legislation to do this has already been introduced.
It is the Conyers/Kucinich bill, H. R. 676.
$50 billion to guarantee a college education to all who meet specified
criteria, mainly that their grades indicate that they are serious
students. A well educated population is critical to the future of our
country.
Monetary grants to the states. Each year the Monetary Authority will
instruct the U. S. Treasury to disperse per capita grants evenly over
a 12 month period to the 50 states equal to 10% of the money created
under Title V the preceding year. The states will use these funds in
broadly designated areas of public infrastructure, health care and
paying for unfunded Federal mandates.
Last, but certainly not least, we will pay off the privately held
portion of our National Debt as it comes due. This is simply a matter
of replacing interest-bearing government securities with non-interest
bearing U. S. money. The portion of the current National Debt held by
the government will simply be cancelled. When we create, issue and
regulate our own money we cannot owe money to ourselves. Thus the
entire National Debt will be paid off, saving the interest charges now
paid to the holders of the national debt.
These are the kinds of benefits we can receive when, instead of letting
the privately owned banking system loan our "debt-money" into
circulation as interest bearing debt, we, instead, create, issue and
regulate our own money. In the process we receive the benefits we
would have received in the first place if we had always issued our own
money.


The American Monetary Act is the only way out of this recession and back
to prosperity. The time to pass it is now.
Dick Distelhorst, Chairman
Burlington, Iowa Chapter
American Monetary Institute
www.monetary.org
I am a veteran of World War II. I served with the First Marine Division
on Guadalcanal. My working life was in the supermarket field in the
executive area. My purpose in life now is to get our privately owned,
debt-based monetary system replaced. (more...)

This is solid gold by Dennis Kucinich

This is called A Pray For America, and keep in mind that Rep. Dennis Kucinich (REAL Democrat-Ohio) wrote this in Feb. of 2002, when America was still in INSANITY MODE after 9/11, and no one DARED to BE A REAL PATRIOTIC AMERICA AND FUCKING SPEAK OUT AGAINST ASSHOLEFACE MR. 28% GOD DUHbya BU$Hitler!!!! Well ok, some did, but those who did were all but lynched, just ask Michael Moore!!!!!!!!!!!

Published on Tuesday, February 26, 2002 by Common Dreams

A Prayer for America

by US Rep Dennis Kucinich

The following speech was given on February 17, 2002 in Los Angeles, California at an event sponsored by the Southern California Americans for Democratic Action. I offer these brief remarks today as a prayer for our country, with love of democracy, as a celebration of our country. With love for our country. With hope for our country. With a belief that the light of freedom cannot be extinguished as long as it is inside of us. With a belief that freedom rings resoundingly in a democracy each time we speak freely. With the understanding that freedom stirs the human heart and fear stills it. With the belief that a free people cannot walk in fear and faith at the same time. With the understanding that there is a deeper truth expressed in the unity of the United States. That implicit in the union of our country is the union of all people. That all people are essentially one. That the world is interconnected not only on the material level of economics, trade, communication, and transportation, but innerconnected through human consciousness, through the human heart, through the heart of the world, through the simply expressed impulse and yearning to be and to breathe free. I offer this prayer for America. Let us pray that our nation will remember that the unfolding of the promise of democracy in our nation paralleled the striving for civil rights. That is why we must challenge the rationale of the Patriot Act. We must ask why should America put aside guarantees of constitutional justice? How can we justify in effect canceling the First Amendment and the right of free speech, the right to peaceably assemble? How can we justify in effect canceling the Fourth Amendment, probable cause, the prohibitions against unreasonable search and seizure? How can we justify in effect canceling the Fifth Amendment, nullifying due process, and allowing for indefinite incarceration without a trial? How can we justify in effect canceling the Sixth Amendment, the right to prompt and public trial? How can we justify in effect canceling the Eighth Amendment which protects against cruel and unusual punishment? We cannot justify widespread wiretaps and internet surveillance without judicial supervision, let alone with it. We cannot justify secret searches without a warrant. We cannot justify giving the Attorney General the ability to designate domestic terror groups. We cannot justify giving the FBI total access to any type of data which may exist in any system anywhere such as medical records and financial records. We cannot justify giving the CIA the ability to target people in this country for intelligence surveillance. We cannot justify a government which takes from the people our right to privacy and then assumes for its own operations a right to total secrecy. The Attorney General recently covered up a statue of Lady Justice showing her bosom as if to underscore there is no danger of justice exposing herself at this time, before this administration. Let us pray that our nation's leaders will not be overcome with fear. Because today there is great fear in our great Capitol. And this must be understood before we can ask about the shortcomings of Congress in the current environment. The great fear began when we had to evacuate the Capitol on September 11. It continued when we had to leave the Capitol again when a bomb scare occurred as members were pressing the CIA during a secret briefing. It continued when we abandoned Washington when anthrax, possibly from a government lab, arrived in the mail. It continued when the Attorney General declared a nationwide terror alert and then the Administration brought the destructive Patriot Bill to the floor of the House. It continued in the release of the bin Laden tapes at the same time the President was announcing the withdrawal from the ABM treaty. It remains present in the cordoning off of the Capitol. It is present in the camouflaged armed national guardsmen who greet members of Congress each day we enter the Capitol campus. It is present in the labyrinth of concrete barriers through which we must pass each time we go to vote. The trappings of a state of siege trap us in a state of fear, ill-equipped to deal with the Patriot Games, the Mind Games, the War Games of an unelected President and his unelected Vice President. Let us pray that our country will stop this war. "To promote the common defense" is one of the formational principles of America. Our Congress gave the President the ability to respond to the tragedy of September 11. We licensed a response to those who helped bring the terror of September 11th. But we the people and our elected representatives must reserve the right to measure the response, to proportion the response, to challenge the response, and to correct the response. Because we did not authorize the invasion of Iraq. We did not authorize the invasion of Iran. We did not authorize the invasion of North Korea. We did not authorize the bombing of civilians in Afghanistan. We did not authorize permanent detainees in Guantanamo Bay. We did not authorize the withdrawal from the Geneva Convention. We did not authorize military tribunals suspending due process and habeas corpus. We did not authorize assassination squads. We did not authorize the resurrection of COINTELPRO. We did not authorize the repeal of the Bill of Rights. We did not authorize the revocation of the Constitution. We did not authorize national identity cards. We did not authorize the eye of Big Brother to peer from cameras throughout our cities. We did not authorize an eye for an eye. Nor did we ask that the blood of innocent people, who perished on September 11, be avenged with the blood of innocent villagers in Afghanistan. We did not authorize the administration to wage war anytime, anywhere,anyhow it pleases. We did not authorize war without end. We did not authorize a permanent war economy. Yet we are upon the threshold of a permanent war economy. The President has requested a $45.6 billion increase in military spending. All defense-related programs will cost close to $400 billion. Consider that the Department of Defense has never passed an independent audit. Consider that the Inspector General has notified Congress that the Pentagon cannot properly account for $1.2 trillion in transactions. Consider that in recent years the Dept. of Defense could not match $22 billion worth of expenditures to the items it purchased, wrote off, as lost, billions of dollars worth of in-transit inventory and stored nearly $30 billion worth of spare parts it did not need. Yet the defense budget grows with more money for weapons systems to fight a cold war which ended, weapon systems in search of new enemies to create new wars. This has nothing to do with fighting terror. This has everything to do with fueling a military industrial machine with the treasure of our nation, risking the future of our nation, risking democracy itself with the militarization of thought which follows the militarization of the budget. Let us pray for our children. Our children deserve a world without end. Not a war without end. Our children deserve a world free of the terror of hunger, free of the terror of poor health care, free of the terror of homelessness, free of the terror of ignorance, free of the terror of hopelessness, free of the terror of policies which are committed to a world view which is not appropriate for the survival of a free people, not appropriate for the survival of democratic values, not appropriate for the survival of our nation, and not appropriate for the survival of the world. Let us pray that we have the courage and the will as a people and as a nation to shore ourselves up, to reclaim from the ruins of September 11th our democratic traditions. Let us declare our love for democracy. Let us declare our intent for peace. Let us work to make nonviolence an organizing principle in our own society. Let us recommit ourselves to the slow and painstaking work of statecraft, which sees peace, not war as being inevitable. Let us work for a world where someday war becomes archaic. That is the vision which the proposal to create a Department of Peace envisions. Forty-three members of Congress are now cosponsoring the legislation. Let us work for a world where nuclear disarmament is an imperative. That is why we must begin by insisting on the commitments of the ABM treaty. That is why we must be steadfast for nonproliferation. Let us work for a world where America can lead the day in banning weapons of mass destruction not only from our land and sea and sky but from outer space itself. That is the vision of HR 3616: A universe free of fear. Where we can look up at God's creation in the stars and imagine infinite wisdom, infinite peace, infinite possibilities, not infinite war, because we are taught that the kingdom will come on earth as it is in heaven. Let us pray that we have the courage to replace the images of death which haunt us, the layers of images of September 11th, faded into images of patriotism, spliced into images of military mobilization, jump-cut into images of our secular celebrations of the World Series, New Year's Eve, the Superbowl, the Olympics, the strobic flashes which touch our deepest fears, let us replace those images with the work of human relations, reaching out to people, helping our own citizens here at home, lifting the plight of the poor everywhere. That is the America which has the ability to rally the support of the world. That is the America which stands not in pursuit of an axis of evil, but which is itself at the axis of hope and faith and peace and freedom. America, America. God shed grace on thee. Crown thy good, America. Not with weapons of mass destruction. Not with invocations of an axis of evil. Not through breaking international treaties. Not through establishing America as king of a unipolar world. Crown thy good America. America, America. Let us pray for our country. Let us love our country. Let us defend our country not only from the threats without but from the threats within. Crown thy good, America. Crown thy good with brotherhood, and sisterhood. And crown thy good with compassion and restraint and forbearance and a commitment to peace, to democracy, to economic justice here at home and throughout the world. Crown thy good, America. Crown thy good America. Crown thy good. Thank you.

2 AWESOME headlines/articles from Buzzflash!!!!!!!!!

SPOT ON AGAIN FOLKS! Buzzflash.com OWNS!

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