Money As Debt, is not only a must-see for any American who wants to be politically and economically literate, but is particularly crucial for high school and college students to see in order for them to understand how the money works in the United States.
Grignon suggests that in order to begin addressing and resolving the nightmare of money as debt, we must ask four pivotal questions:
1) Why do governments choose to borrow money from private banks at interest when governments could create all the interest-free money they need themselves?
2) Why create money as debt at all? Why not create money that circulates permanently and doesn't have to be perpetually re-borrowed in interest?
3) How can a money system, dependent on perpetual growth, be used to build a sustainable economy? Perpetual growth and sustainability are fundamentally incompatible.
4) What is it about our current system that makes it totally dependent on perpetual growth? What needs to be changed to allow the creation of a sustainable economy?
One solution might be the replacement of paper dollars with precious metals, which of course, could once again become cumbersome and inconvenient, unless the economic system had experienced collapse and digital and paper transactions were no longer possible.
Perhaps the best solution offered by "Money As Debt" is the creation of locally-based barter money systems in which debt is repaid by hours of work valued at a dollar figure. Additionally, government spending on infrastructure, not using borrowed money, would also create value locally and nationally.
My opinion is that we must have a total collapse of our monetary system, whether this be sudden, which I believe will happen... so that the transformation and relocalization of the nation's economic system will be possible.
All of the perplexities, confusion, and distress in America arises, not from the defects of the constitution or confederation, not from want of honor or viture, so much as from down right ignorance of the nature of coin, credit and circulation. -John Adams. Founding Father of the American Constitution
"I am a most unhappy man, I have unwittingly ruined my country A great industrial nation is controlled by a system of credit. Our system of credit is concentrated. The growth of the nation therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world, no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men. -Woodrow Wilson, President of the United States 1913-1921
"Whoever controls the volume of money in our country is absolute master of all industry an commerce and when you realized that the entire system is very easily controlled, one way or another by a few powerful men at the top you will not have to be told how periods of inflation and depression originate."- James A. Garfield, assassinated President of the United States
"The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. The privilege of creating and issuing money is not the supreme prerogative of government, but it is the government's greatest creative opportunity." -Abraham Lincoln, assassinated President of the United States
"Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of sovereignty of Parliament and the democracy is idle and futile...once a nation parts with control of it's credit, it matters not who makes the nation's laws. Usury once in control will wreck any nation."-William Lyon Mackenzie King, former Prime Minister of Canada (who nationalized the Bank of Canada)
"We are grateful to the Washington Post, the New York Times, Time Magazine and other great publicatons who directors have attended our meetings and respeted the promises of discretion for almost forty years. It would have been impossible for us to develop our plan for the world if we had been subject to the bright lights of publicity during those years. But, the world is now more sophisticated and prepared to march towards a world-government. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the National auto-determination practiced in past centuries". -David Rockefeller, in an address to Trilateral Commission meeting, 1991
Money as Debt II, Unleased Promises
Abolish the Federal Reserve