Benjamin Franklin’s Solution

Benjamin Franklin’s Solution


Nationalization has traditionally had a bad name in the United States, but it could be an attractive alternative for the American people and our representative government as well. Turning bankrupt Wall Street banks into public institutions might allow the government to get out of the debt cyclone by undoing what got us into it. Instead of robbing Peter to pay Paul, flapping around in a sea of debt trying to stay afloat by creating more debt, the government could address the problem at its source: it could restore the right to create money to Congress, the public body to which that solemn duty was delegated under the Constitution.


The most brilliant banking model in our national history was established in the first half of the eighteenth century, in Benjamin Franklin’s home province of Pennsylvania. The local government created its own bank, which issued money and lent it to farmers at a modest interest. The provincial government created enough extra money to cover the interest not created in the original loans, spending it into the economy on public services. The bank was publicly owned, and the bankers it employed were public servants. The interest generated on its loans was sufficient to fund the government without taxes; and because the newly issued money came back to the government, the result was not inflationary.7 The Pennsylvania banking scheme was a sensible and highly workable system that was a product of American ingenuity but that never got a chance to prove itself after the colonies became a nation. It was an ironic twist, since according to Benjamin Franklin and others, restoring the power to create their own currency was a chief reason the colonists fought for independence. The bankers’ money-creating machine has had two centuries of empirical testing and has proven to be a failure. It is time the sovereign right to create money is taken from a private banking elite and restored to the American people to whom it properly belongs.















http://www.globalresearch.ca/credit-default-swaps-evolving-financial-meltdown-and-derivative-disaster-du-jour/8634

Might be what was rejected was the blatant use of lies & money.

Told their lies so well they gravely believed them,
and repeated roundabout,
they found that they had lied to themselves when the numbers became a bit more real.

Mconnell being petulant.
Boner waiting for the prez's first move.
he said revenue is on the table
but later he may have to deny he said it.

Heard some pundit say the country has chosen a clear path to destruction
soon as he gets the data he'll let us know what that entails
Rove will have to enter the witness protection program,
live on the dole. keep his head down anyway.

"The Obama administration keeps an informal list of possible Supreme Court nominees; Experts see six women, two men in pool of potential ...,

"and meanwhile lame futurists weep into Spengler’s
prophecy, will the world be over before the races blend color?
All color must be one or let the world be done—
There’ll be a chance, we’ll all be orange!
I don’t want to be orange!"

--America Politica Historia, In Spontaneity by Gregory Corso

Muttley not doing too well. Fails the empathy test, fails even the economy test. Bishop Romney, some say. Fallen into the clutches of the far right, some say; no doubt owes tithes that will need be repaid after the looming disaster. One lie over the line, sweet Jesus, seeps even into the TV patriarchs, and they alternate between the coming doom and their new savior, apparently Mr. Ruin, rather than Bishop Muttley. Every time he opens his mouth, the good Bishop, that is, it is as if Alaric crashes thru Rome again, or Rogers takes a beating in the first half against Seattle, an Armageddon of words wreck our wise Odysseus on an isolated shore. I'd advise the President to be presidential and keep the glad handing down to a minimum. Save some money. Paul Ryan? "Let me have men about me that are fat; Sleek-headed men and such as sleep o' nights: Yond Cassius has a lean and hungry look; He thinks too much: such men are dangerous." My candidate for the latest & greatest Anti-Christ. Peruse the litany, cut aid to dependent children, cut taxes on the oligarchy more war and more rumors of war, let us look together, once again, out over the the valley of Megiddo where the blood will flow as rivers. God preserve Israel for the coming fury of the Messiah and his mighty horde. Someone should ask Ryan if he would support the rebuilding of the temple on the Temple Mount. Would he celebrate Cassius's action or would he join Anthony in condemning him? So like Jesus, we would seek to trap, but nimble like a night thief he would dance away. Ah, well-my own off shore investments consist of tossing tomatoes out in the backyard in the hope of few strays next spring.

The Constitution says: "1: The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States; 2: To borrow Money on the credit of the United States;" They have been running away from that Power ever since. "...every citizen should quietly consider each point, then talk it over with his friends, and, finally, bring forward for public discussion any additions or subtractions which seemed desirable." (cf. Liv. III 34)

actual numbers that can be looked at!

Information Overload

One might say these day we depend on the Media for distilled information.

Unfortunately, it all depends on the corn that's used in the still. For instance, using next years corn for this year's brew will produce no more than a fine grade of water. Most of them are using crop that's not due to come in for 10 years.

That's our budgetary woes. Which all in all have as much to do with reality as Revelation does with the present ending of the world.

Coupla things I've noticed. The stock market mostly goes up, cept when it don't.
Generally though it goes up, and the dollar goes down, not against other currencies but in what it will buy. Secondly, in 1929, taxes on the corporations, and on the rich were about on the level they were in 2009. You will need two seperate charts for this, you won't find them combined anywhere on the web. Superficially, it would appear that when the tax rate reaches a certain level there is a disincentive to invest. Unemployment reaches catastropic levels. As the tax rate rises unemployment goes down. Presumably, "They" would need an excuse for not investing, generally one seems to present itself. No doubt this is heresy, based on ignorance.

I can only report what my eyes see. Old man told me one time to believe only half of what I saw, and none of what I heard. These days, just about everyone carries a marked deck, and practices sleight of hand; the magicians are better than they ever have been. If you got enough numbers you can make them dance to just about any tune you want, just about--Ryan tried to make them do Swan Lake & he fell into the black lagoon. Still, no matter who is handing them out, you might want to taste them some, never can tell what they're putting in the candy poke. One thing is certain everyone will want more money, and to tell you the truth, for the most part they're not too concerned about how they get it. The virtuous are far more rare than flowers.