Albert Einstein said that stupidity is when we try to solve the same old problem over and over using the same failed means as previously. When are we going to stop the stupidity of giving our government authority it always misuses?
As wonderful as our Federal Constitution is, it has two major flaws (1), assigning the Congress the authority to borrow Money on the credit of the taxpayers, and (2), assigning the government the power to tax.
How can we claim to be free people and how can we teach our children that they too are free, when the very overnment that we created to protect our freedom funds itself by pointing its guns at us?
At this time we are in a very serious monetary disaster due to these two issues. Our central bank, the Federal Reserve, is a private profits taking Corporation that creates all of our money as loan principle, based upon the signatures of borrowers, and then the Fed improperly takes the interest as its totally unearned profit. Is it not clear that as the Fed has not lent any of its own money that the Fed has no just claim on these trillions of unearned profits?
It seems clear to me that when the people of the community accept and use the borrowed paper money, spent into circulation in their community by privatesector borrowers, to purchase all the items the money was created to purchase, that it is the people of the community who are actually providing the backing of all of these millions of loans and it is a people of the community that have earned and should be getting the benefit of all that interest money!
As the Fed merely created the money as a bookkeeping entry the Fed has nothing to lose if the borrower defaults, when the borrower defaults it is the community that actually takes the loss, not the Fed.
Why don’t we federalized the Federal Reserve, take all oversight, control and access away from the Federal Congress, assign all oversight thereof to the legislatures of all the fifty states, change the Constitution to eliminate the two problems listed above, and then credit the interest collected on all mortgage, business and other loans to private-sector borrowers to the legislatures of the four levels of government, thereby enabling us to eliminate all taxation at every level of government?
This is very similar to what Benjamin Franklin implemented in the colonies prior to the Revolution.
Eric Williams, Yellville
