The Revised Comprehensive Solution to the Financial and Economic Crisis

1– Abolish the Federal Reserve nationalizing the Central Bank and restoring monetary authority to the U.S. Treasury to create and extinguish honest debt free money based on a 3 legged stool of a market basket of precious metals, barter exchange contracts and labor treasury certificates for goods produced, services rendered and work performed. International trade and balance of payments could be conducted with barter exchange contracts. Thus no trade deficit, no debt.

2- Pass a revaluation bill limiting paper currency debts to 1% of their gold dollar value of $2,000 an ounce, reevaluating the currency and issuing new currency at a 100-1 exchange rate, pro-rating all prices, incomes, debts, charging a 10% exchange rate fee to pay down the legitimate debt, cancelling all debt owed by the government to the Federal Reserve, adding a provision to the bill for debt forgiveness. All other debt would be assumed by the U.S. Treasury.

3- The money created by U.S. Treasury would be debt free. The Central Bank would than issue U.S. Notes backed by precious metals in the U.S. Treasury and loan the money out to the privately held State and Federally chartered banks at the discount rate.

4- The privately held banks would be subject to the authority of the Central Bank and the regulations of U.S. Treasury Department.

This article has been entered into the Activist Post Writing Contest – Solutions. 1st place receives a $250 cash prize & $250 gift certificate to Offgrid Outpost. 2nd place receives a $250 gift certificate to Offgrid Outpost. Additional details and submission guidelines can be found here: http://activistpost.com/2012/11/activist-post-writing-contest.html

If you like this article, please share it. The winner is decided by total pageviews.