| Subject: | [socialcredit] fascism | | Date: | Wednesday, April 4, 2007 08:28:36 (-0700) | | From: | william_b_ryan <william_b_ryan @.....com>
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Regarding the term, fascism, it is clearly used as an
opprobrium. I use the term to apply not only to those
groups historically identified as fascist, who call
themselves fascist, but to those groups or individuals
who advocate increasing power into the hands of the
central or federal executive. This is, in my opinion,
contrary to the uniquely American perspective, as
expressed in its Constitution and Bill of Rights,
which is to admit the necessity of the institution of
government, but to constrain it with division of
powers and checks and balances, to deter it from
becoming a tyranny.
As to Stephen Zarlenga, I would not refer to him
directly as being a fascist, but would maintain that
the groups he associates himself with, and policies
that he advocates, are clearly fascistic by this
standard.
Zarlenga has been closely associated with the
Georgists, and on numerous occasions has accepted
funding from them. Both Michael Hudson and Geoffrey
Gardiner claim that various Georgist organizations
have been connected to the Nazis. Hudson claims that
one of the major Georgist organizations that he once
was associated with accepted money from German Nazi
intelligence for spying. And he claims they were
closely connected to the eugenicist movement. Hudson
was and is a Georgist insider and therefore speaks
from some position of authority.
As to policies that Zarlenga advocates, I append the
latest version of his American Monetary Act, which I
received from him two days ago.
Whatever else that Act might do, one thing that it
most certainly will do is increase the power of the
federal executive tremendously.
Firstly, it proposes to merge the powers of banking
into the Treasury Department, directly in the chain in
command from the President.
It also significantly increases the power of banking
under that central control.
It purports to advocate one hundred percent banking.
But a true one hundred percent requirement would mean
that banks could not make loans. What is really being
proposed is a modified and centralized fractional
reserve system, which through a legal fiction,
deposits will be divided into two categories: checking
and saving. One-hundred percent reserves will be
required against checking deposits, and something less
than one-hundred percent will be required against
savings deposits.
Presently, reserves are injected into circulation by
the Federal Reserve Open Market Committee through its
so-called "open market" operations.
The Act proposes that instead, reserves will be
injected through federal government spending.
Now, the necessity to tax is presently a significant
check on the power of government, inasmuch government
may levy a tax, but collecting it is another matter.
That check upon the power of the federal government is
eliminated by The American Monetary Act.
The division of power between the federal and state
and local governments is weakened by the Act, which
proposes a series of grants and "interest free" loans
to the state and local governments, which will reduce
their individual necessity to tax, and thereby lessen
the check of their own people on their governments.
And of course increase the power of the federal
grantors of the "interest free" loans and grants over
the state and local governments.
I invite comments.
----------------------------------------
Received from Stephen Zarlenga, April 2, 2007
THE AMERICAN MONETARY ACT
An Act to restore the Constitutional power to create
Money to the Congress of the United States
Be it enacted by the Senate and House of
Representatives of the United States of America in
Congress assembled,
SEC 1. SHORT TITLE
This Act may be cited as the American Monetary Act
SEC 2. FINDINGS
The Congress finds that -
(1) The Federal Reserve Act of 1913 effectively ceded
the sovereign power to create Money delegated to
Congress by the Constitution to the private financial
industry.
(2) This cession of Constitutional power has resulted
in a multitude of monetary and financial afflictions,
including a growing and unreasonable concentration of
wealth, an uncontrollable national debt, excessive
taxation of citizens, inflation of the currency,
drastic increases in the cost of public infrastructure
investments, excessive un- and under-employment, and
erosion of the ability of Congress to exercise its
Constitutional responsibilities to provide for the
common defense and general welfare.
(3) The issue of means of exchange by private
financial institutions as interest-bearing debts
should cease once and for all.
(4) The power of Government to create Money and spend
or loan it into circulation as needed is similar but
different in nature from the power to create and
market instruments of indebtedness; it eliminates the
need to pay interest charges to financial institutions
and removes their undue influence over public policy.
(5) Direct disbursement of United States Money can be
readily and easily implemented, including replacement
of Federal Reserve Notes and retirement of debt.
(6) The Federal Reserve System shall be retained as a
central bank of issue, a national fund processing
clearinghouse, and a fiscal agent for the Government
and should be incorporated within the US Treasury. It
should no longer be utilized to introduce liquidity
into the currency system through interest-bearing
debts.
(7) Government policy with regard to monetary supply
should be based on the principle of furnishing
sufficient liquidity to support the reasoned
sustainable expansion of the physical economy,
providing for the common defense and general welfare
of the United States, and full employment of the
nation's working population
TITLE I - DISBURSEMENT OF UNITED STATES MONEY
SEC. 101 AUTHORIZATION FOR DISBURSEMENT
Not later than 90 days after the effective date of
this section, all United States Government
disbursements shall be denominated in United States
Money, the nominal unit being the U.S. Dollar.
SEC. 102 LEGAL TENDER
United States Money shall enter into general domestic
circulation as full legal tender in payment of all
debts public and private.
SEC. 103 NEGATIVE FUND BALANCES
The Secretary of the Treasury shall directly issue
United States Money to account for any differences
between Government appropriations authorized by
Congress under law and available Government receipts.
Note: The fact that Treasury will be able to make
disbursements based on direct issuance of United
States Money for negative fund balances reflects
Congress's Constitutional authority to "coin Money",
because Congress will then have the ability to adjust
the amount of Money so created by regulating both
appropriations as well as revenues from taxation and
other sources. The focal point of power will be the
House of Representatives as the initiator of revenue
bills. Restoring to Congress its Constitutional
authority will shift the ability to create Money and
enter it into circulation from the private banking
industry to our elected representatives, as the
Constitution mandates.
SEC. 104 FORECASTING OF DISBURSEMENT REQUIREMENTS
The Secretary shall:
(1) forecast disbursement requirements on a daily,
monthly, and annual basis;
(2) provide such forecasts to Congress and the public;
(3) integrate forecasts with the Federal budget
process;
(4) maintain a sufficient research capability to
continuously and effectively assess the impact of
disbursement of United States Money on all aspects of
the domestic and international economies;
(5) report to Congress and the public regularly on the
economic impact of disbursements of United States
Money and the status of the monetary supply.
SEC. 105 MONETARY CONTROL
(1) The Secretary shall pursue the policy that the
supply of money in circulation should not become
inflationary nor deflationary in and of itself.
(2) Monetary supply targets shall be established by a
Monetary Control Board consisting of nine public
members appointed for staggered six-year terms by the
President with the advice and consent of the Senate
and reporting for administrative purposes to the
Secretary.
(3) Responsibility to regulate the monetary supply in
reasonable accordance with targets established by the
Monetary Control Board shall rest with the Secretary
of the Treasury.
(4) The Secretary shall report to Congress any
discrepancies between targets and supply in excess of
one percent at the end of each quarter.
SEC. 106 DISBURSEMENT IN LIEU OF BORROWING
(1) Disbursement of United States Money under this Act
shall be made in lieu of borrowing through Treasury
instruments.
(2) Such borrowing shall cease as of the date stated
in Section 101 of this title, unless otherwise
authorized by Congress;
(3) Nothing in this Act shall prevent Congress from
exercising its Constitutional authority to borrow on
the full faith and credit of the United States.
SEC. 107 ACCOUNTING
The Secretary shall account for the disbursement of
United States Money and of current fund balances
through accounting reports maintained and published by
the Secretary and by departments and agencies of the
Government. The General Accountability Office shall
conduct an independent audit every second year.
TITLE II - RETIREMENT OF INSTRUMENTS OF INDEBTEDNESS
SEC. 201 COMMENCEMENT OF RETIREMENT
Not later than one year from the effective date of
this section, the Secretary shall commence to retire
all outstanding instruments of indebtedness of the
United States by payment in full of the amount legally
due the bearer in United States Money, as such amounts
become due.
TITLE III - CONVERSION TO UNITED STATES MONEY
SEC. 301 CONVERSION OF FEDERAL RESERVE NOTES
(1) Not later than 120 days from the effective date of
this section, the Secretary shall establish the
capability of converting outstanding Federal Reserve
Notes to United States Money of equal face value upon
presentation to any domestic national or state
financial institution by the bearer;
(2) Not later than 150 days from the effective date of
this section, the Secretary shall provide a sufficient
quantity of United States Money to the domestic
banking system to allow for conversion of all book
entries and cash-on-hand;
(3) Not later than 180 days from the effective date of
this section, all financial institutions within the
United States shall disburse funds only in United
States Money;
(4) Not later than 180 days from the effective date of
this section, all fund accounts within United States
financial institutions shall be denominated only in
United States Money;
(5) The Secretary shall promptly dispose of all
Federal Reserve Notes upon receipt.
SEC. 302 RESERVE REQUIREMENTS AND INTEREST CEILINGS
(1) Not later than 180 days from the effective date of
this section, financial institutions authorized to
operate within the United States under any Federal or
state charter may only lend money as a deposit
institution without fractional reserve banking;
(2) In order to initially bring reserves to a level
equivalent to outstanding loans, financial
institutions may at inception of this act, borrow
United States Money from the Treasury;
(3) In ending fractional reserve banking, the
Secretary is authorized to initially lend United
States Money at interest to financial institutions for
reserve purposes subject to regulations established by
the Secretary.
(4) Not later than 120 days from the effective date of
this section, the Secretary shall publish regulations
for:
a) criteria to determine interest charges for
utilization by financial institutions of public funds,
procedures for determining and declaring insolvency of
reserve borrowing portfolios, and policies and
procedures for disposition of forfeited financial
institution assets.
b) Checking type accounts; that implement a system of
what is generally known as one-hundred percent reserve
banking on all checking type accounts. Effectively,
checking accounts become a warehousing and
transferring service for which fees are charged. This
regulation will take effect over a one year period.
c) Savings Type accounts and Time Deposits; to
establish reserve and other requirements for the
continued lending of money at interest by banks.
d) other accounts; establishing appropriate
regulations, to encourage private lending activity,
but prohibit private money creation in the form of
credit.
e) the computer accounting segregation of deposits of
money, from the deposits of loans - i.e. from credit
deposited in the system, with the intent to allow
money, but not credit, to be loaned out.
Note: It is anticipated that the money spent into
circulation by the U.S. Government under Title V of
this Act, will ultimately be deposited into the banks,
where that money, not fractional reserves, will
provide the engine for continued loans and necessary
expansion. It is also anticipated that enough public
spirited banking professionals will join with Treasury
officials in assuring that these regulations are
properly formulated recognizing realities within the
banking industry, to assure a smooth transition.
(5) The total amount of interest charged by a
financial institution to any natural person borrower
through amortization, including all fees and service
charges, shall not exceed the original principal of
any loan, except mortgages.
(6) United States debt instruments held by banks will
be credited to their reserve positions in calculating
the amounts necessary to borrow to upgrade their
reserves.
(7) The maximum interest rate of 8% per year will
apply throughout the U.S. inclusive of all fees.
(8) Interest payments by the U.S. to foreign central
banks or their intermediaries will be reduced
pro-rated over 15 years to1 %.
TITLE IV - RECONSTITUTION OF THE FEDERAL RESERVE AS A
BUREAU WITHIN THE UNITED STATES TREASURY DEPARTMENT
SEC. 401 RECONSTITUTION OF THE FEDERAL RESERVE
(1) No later than 90 days from the effective date of
this section, the Secretary shall purchase on behalf
of the United States all net assets in the Federal
Reserve System at current market value denominated in
United States Money.
(2) The Federal Reserve in its role as a central bank
of issue, a national fund processing clearinghouse,
and a fiscal agent for the Government shall be
reconstituted as a bureau within the United States
Department of the Treasury.
(3) The Federal Reserve shall be administered by a
commissioner and deputy commissioner appointed for
six-year terms by the President with the advice and
consent of the Senate.
(4) The Federal Reserve shall administer on behalf of
the Secretary the monetary targets established and
authorized by the Monetary Control Board and shall
administer lending of United States Money to
authorized financial institutions in order to assure
one-hundred percent reserve banking, also known as
deposit banking, within the United States.
TITLE V - INFRASTRUCTURE MODERNIZATION
SEC. 501 DIRECT FUNDING OF INFRASTRUCTURE IMPROVEMENTS
Note: Since the banks will not be creating new money
and it is crucial in an expanding economy and
population base that new money be added into
circulation, this will be done through direct funding
of infrastructure, social, education and health
programs on a per capita basis assuring an equitable
distribution throughout the nation.
Not later than 90 days from the effective date of this
section, the Secretary shall report to Congress on
opportunities to utilize direct funding by the
Government to modernize, improve, and upgrade the
physical economy of the United States in such areas as
transportation, agriculture, water usage and
availability, sewage systems, medical care, education,
and other infrastructure systems, to promote the
general welfare. This will be done with substantial
intrinsic ecological sustainability and quality of
life considerations.
This program shall promote throughout the U.S. a
harmonious and balanced development of economic
activities, sustainable and non-inflationary growth
respecting the environment, a high level of employment
and of social protection, the raising of the standard
of living and quality of life, and economic and
social cohesion.
Note: these ecological, sustainability and quality of
life considerations are derived from the European
Central Bank treaty protocols, which examined the
questions extensively.
SEC. 502 INTEREST FREE LENDING TO LOCAL GOVERNMENTAL
BODIES
Not later than 180 days from the effective date of
this section, the Secretary shall provide
recommendations to Congress for a program of
interest-free lending of United States Money to state
and local governmental entities including school
boards and emergency fire services for infrastructure
improvements under their control and within their
jurisdictions, based on per capita amounts or other
criteria to assure equity as determined by the
Monetary Control Board.
SEC. 503 MONETARY GRANTS TO STATES
Each year the Monetary Control Board will instruct the
U.S. Treasury to disburse per capita grants evenly
over a 12 month period to the 50 states equal to 25%
of the money created under Title V in the prior year.
The states will use these funds in broadly designated
areas of public infrastructure, education, health care
and rehabilitation; and be partially re-directed for
use by county, city, village and school board
administrations.
SEC. 504 FARMING PARITY PROGRAM
Not later than 120 days from the effective date of
this section, the Secretary, in cooperation with the
Secretary of Agriculture, shall provide
recommendations to Congress for a program of farm
parity payments of United States Money to family
farmers in order to assure diversity of quality
domestic food sources and products and maintain the
socially beneficial existence of family farming
operations within the United States.
SEC. 505 EDUCATION FUNDING PROGRAM
Not later than 120 days from the effective date of
this section, the Secretary, in cooperation with the
Secretary of Education, shall provide recommendations
to Congress for a program to help fund an educational
system that will put the United States on par with
other highly developed nations, and create a learning
environment so that every child has an opportunity to
reach their full educational potential while feeling
safe in their school and community.
SEC. 506 INITIAL MONETARY DIVIDEND TO CITIZENS
Not later than 90 days from the effective date of this
section, the Secretary, in cooperation with the
Monetary Authority shall provide recommendations to
Congress for payment of a Citizens Dividend as a
tax-free grant to all U.S. citizens residing in the
U.S. in order to provide liquidity to the banking
system at the commencement of this act, before
governmental infrastructure expenditures have had a
chance to work into circulation.
SEC. 507 UNIVERSAL HEALTH CARE
[This section will be written following consultation
with people in the medical field who are working on
this problem.]
-
____________________________________________________________________________________
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