Debt-based money is the problem

Published 9:36 am Wednesday, June 22, 2011

“Leadership” has many foolish and questionable contentions over debt. They don’t want the debt. They don’t want to jeopardize their ability to borrow more.

America has the lawful authority to create money. Why does it borrow? Would you ever borrow, be lacking for money or be in debt if you could create money? Over 80 years, special interests lobbied, changing the nature of our medium-of-exchange from a free peoples’ debt-free evidence of wealth to unpayable interest-bearing debts.

You, our leadership, everyone must realize that all money is now created as loans. There must be debt, lots of it and growing or there is no medium of exchange. There is nothing to pay the debt with except another loan. The change to debt has forced Americans and their nation into economic servitude.

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The simple solution is not to be found in fiscal, budgetary or tax policy but in monetary policy. You and I must demand monetary policy from our leadership that promotes the general welfare in opposition to one that benefits just 10 percent of the people!

Money must represent production not debt. Numbers (what we use for money) must no longer be created by private business then lent into circulation for their personal profit but spent into circulation debt-free as an earned payment as provided by MN House File 610 and Senate File 65.

The “freedom” so many fought and died for cannot last without economic freedom. Debt-based money is servitude. Wealth-based money is freedom.

Gregory K. Soderberg

Austin