Why does the government borrow money from banks at interest
when it can create its own money without interest?
The “Earth Protector Money Plan" will
Create thousands of jobs
Expand the money supply without price inflation
Build and maintain great roads and bridges
-
 "The Earth Protector Money Plan” “modifies" existing law as encompassed in: "POWERS OF MINNESOTA STATE CHARTERED BANKS". Chartered banks are private banks that are licensed and overseen by the state. They are NOT owned or operated by the state.
-
Our proposed "modification" will require state-chartered-banks, not national banks, to create the money for construction and maintenance of all public road and bridge projects (state, county, city, and township). This new money is not a loan and does not have to be paid back. Banks will do this because it will the law.
-
Today, when state-chartered-banks make a loan, they simply create the money as an electronic bookkeeping entry.
-
"The Earth Protector Money Plan” will require state-chartered-banks to create new electronic bookkeeping entries to pay for all our roads and bridges. THESE ARE NOT LOANS. It's wealth money created for a specific purpose.
-
The new money will be payment for production so there is no price inflation. What causes price inflation is taxes and interest because they are added to the cost of doing business.
-
"The Earth Protector Money Plan" actually causes prices to go down by eliminating the fuel tax, axle tax, and registration tax, thus saving individuals and businesses billions.
-
When new wealth-money comes into the economy it turns over about 6 to 8 times and
gets taxed at many of its turns, thus generating revenue for the needs of the state.
-
Smart bankers love "The Earth Protector Money Plan" because they get a service fee, goodwill, great roads, and a growing economy which helps them make more loans and get interest on the loans.
Where does money (numbers) come from?
"The actual creation of money always involves the extension of credit by private commercial banks."
Russell L. Munk, Assistant General Counsel International Affairs, US Treasury
"A private commercial bank...simply makes book entries for its loan customers saying, 'You have a deposit with us.'"
Russell L. Munk, Assistant General Counsel International Affairs, US Treasury
"Money is created when loans are issued and debts incurred. Money is extinguished when loans are repaid. A loan from a bank creates a deposit which the borrower may draw upon for the payment of obligations. Some existing money in circulation must be acquired by the borrower to repay the capital of the loan. When that is returned to the bank it is withdrawn from circulation."
John B. Henderson, Sr. Specialist Price Economics, Congressional Research Service.
"Money that one borrower uses to pay interest on a loan has been created somewhere else in the economy by another loan."
John M. Yetter, attorney, US Treasury
Call for a "Money Plan" seminar - 612-529-5253
|
