Little do we realize that ... We Are The Banks!
President Abraham Lincoln implemented a Monetary Policy in his administration that was based on the above truth. The account below, related by Henry C. Carey in 1865, explained what effect this truth had on our economy back then. It can have the same effect today.
We just need to create and adopt a common "clearinghouse" that issues money based on actual validated labor performed by the people. As people submit labor vouchers, the people-controlled "clearinghouse" issues new money. Today, this can easily be done using digital "crypto currency" as money.
|“The way to outdo England without fighting her” |
by Henry C. Carey, Feb 13, 1865, Letter 12
The Currency Question, p. 129