Comments on: Kucinich Proposes Landmark Reform of Monetary Policy

By: AMI

AMI — Sun, 11 Mar 2012 02:03:00 +0000

Dear Richard,
It will take time and work, but it will pass. Think of it as Kucinich’s and Conyers’s HR 676 for universal health coverage. It started with a few supporters but now has 87 co-sponsors. And every intelligent person in America has learned that this is the way to go. We envisage something similar with HR 2990 NEED Act (National Emergency Employment Defense Act).
Sincerely,
Stephen

By: AMI

AMI — Sun, 11 Mar 2012 01:56:02 +0000

Dear Nora,
The bill is reintroduced by Congressmen Kucinich and Conyers, as HR2990.
See http://www.monetary.org
Stephen

By: Joseph Danison

Joseph Danison — Sun, 27 Mar 2011 02:54:11 +0000

I wouldn’t blame Mark Hanna without considering that Bryan himself stuck his thumb in the eye of the People’s Party and real monetary reform when he took Arthur Sewall as his VP candidate, over the Populist, Tom Watson. Sewall was a financier and shipping magnate. The People’s Party pursued a fatal fusion strategy and Bryan destroyed the greenback soul of the party. He would not condescend to attend the party convention. The message is that the two party system is designed to destroy genuine grass roots, that is, populist reform.

By: AMI

AMI — Sat, 19 Mar 2011 22:53:59 +0000

Absolutely on both counts. By itself, NEED will reduce the power of money in elections because banks will no longer be able to create the money they use to sponsor candidates through campaign contributions and forgiving loans to officeholders. It is only the first step. We need campaign finance reform and abolishment of corporate personhood alongside the NEED Act. Aristocracy of wealth and democracy cannot coexist.

Jules Brouillet

By: Dwight Glover

Dwight Glover — Sat, 19 Mar 2011 18:10:52 +0000

QUESTION: Should not Japan move to adopt their equivalent of
H. R. 6550, in light of the tragedy and its scale, given its debt to GDP ratio of 2?

Further, given the fiasco in Wisconsin and recalling the Supreme Court’s ruling in Citizens United does not the added pressure on trickle-UP economics and thus the increased instability of even greater wealth concentration at the top highlight the need for an HR 6550?

Quite frankly, it seems to me that this would be a beneficial move for societies across the globe!

By: AMI

AMI — Thu, 17 Mar 2011 06:12:15 +0000

We will announce the reintroduction of this bill. Of course it didn’t stand a chance at being considered; it was introduced during the last days of our previous Congress.

Jules Brouillet

By: AMI

AMI — Thu, 17 Mar 2011 06:09:49 +0000

This Act will be discussed in due time when it is reintroduced to the 112th Congress. No, it would get through this Congress if introduced tomorrow. Virtually every major reform in our government, from minority suffrage to the Civil Rights Act, came from the people, not from Congress. We would have succeeded in 1896 in having real monetary reform if Mark Hanna had not engineered the William McKinley’s triumph over William Jennings Bryan. That is why we are growing a nationwide grassroots campaign that will pass this reform.

Jules Brouillet

By: AMI

AMI — Thu, 17 Mar 2011 05:48:23 +0000

Brian,

1) Money will be spent into circulation by governments at the local, state, and federal level. The mechanism for removing money from circulation would be taxation.

2) Our debt-based monetary system requires an exponentially growing economy to stave off financial collapse. The NEED Act eliminates that inherent need for growth, allowing society to consciously, democratically decide if and when to transform our growth economy into a steady-state economy.

3) From the Act-

SEC. 507. INITIAL MONETARY DIVIDEND TO CITIZENS.
(a) IN GENERAL.—Before the effective date, the Sec-
retary, in cooperation with the Monetary Authority, shall
make recommendations to the Congress for payment of
a Citizens Dividend as a tax-free grant to all United
States citizens residing in the United States in order to
provide liquidity to the banking system at the commence-
ment of this Act, before governmental infrastructure ex-
penditures have had a chance to work into circulation.
(b) STUDY OF EFFECTS OF CITIZENS DIVIDEND.—
The Secretary shall maintain a thorough study of the ef-
fects of the Citizens Dividend observing its effects on pro-
duction and consumption, prices, morale, and other eco-
nomic and fiscal factors.

Jules Brouillet

By: AMI

AMI — Thu, 17 Mar 2011 03:55:29 +0000

“So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and vigor has met with that understanding and support of the people themselves which is essential to victory.”

These words, uttered by Franklin Delano Roosevelt in 1932, inspired Americans to step out of their own shadows to fight for what was right, to end the Great Depression. If we take the cheerful attitude of the Thirties to heart we can solve any and every single great problem of the twenty-first century.

Jules Brouillet

By: Nancy

Nancy — Fri, 18 Feb 2011 01:53:42 +0000

Money spent on the infrastructure construction, would result in employment of workers and managers – manual and engineering talent, etc., etc. And then those salaries/wages would be spent into the economy via purchase of general goods and services – some of which might be provided by the less muscular, less skilled, and less ‘young’

BUT, it will never pass unless we, who support it, can make it understandable to our fellow citizens. Hence, my concern that we develop a short, succinct presentation, preferably using dynamic ‘framing’ which will create the ‘picture’ of what will happen when we do pass this bill.

So… to start the ball rolling….what about:
—”It’s finally time for an economy Of, By, and For the People – NOT Wall Steet!”
—”Let’s have banking Competition – NOT a Cartel!” (which is what the privately owned Fed Reserve System is – with owners who are largely unknown!)
—”There is no People Power without People’s Money – as our Founders knew!”
—”For the government to permit banks to issue money, borrow that money, and pay interest on it, is idiotic!” Bill Hixson (and, we might add, totally unnecessary!)
—”Greenspan trusted the ‘Invisible Hand’ of Greed! Maybe trusting OUR representatives would be better ”
—”Letting banks multiply debt into dollars, requiring payback to them WITH interest, is the mythical ‘free lunch’ – a deadly delusion.”
—”Trading nothing (MBS’, CDO’s etc) for something (investment $), as Wall Street has just done, never ends well – including fractional reserve banking.”

… and our discussion always end with, “So, call your
rep’s in DC, and tell them to support the N.E.E.D. Act – 202 224 3121!”

More ideas on presenting main the basics of N.E.E.D. ? What kind of world will we create?
—”The money supply will be just right! Banksters will NOT control our interest rates (the price of money)!”
—”WE will have the money to build bridges, schools, hospitals, broadband, parks, water systems, medical and energy research, etc., etc. – which WE will own – NOT foreign investors, dinging us on every toll road, etc.”
—”And a simple accounting mechanism will painlessly convert the present financial parasites into community service providers!”

OK – your turn We have a LOT of folks to turn on to the Answer!
N