Banking & Monetary Policy
1. There is an inherit problem with fractional reserve banking.
2. There is an inherit problem with the debt-based fiat monetary system.
3. There is an inherit conflict-of-interest when the nation’s central bank (the Federal Reserve Bank) is largely private, autonomous, secretive and authoritarian.
4. The Federal Reserve System Bank should be U.S. Government-only.
The central bank should be placed within the U.S. Department of Treasury, and strongly overseen by the U.S. Congress.
5. Monetary policy should be directed by the Congress and the President collectively rather than by the bank solely.
6. Currency should not be issued out by the private bank, rather it should be exclusively issued out by the U.S. Treasury Department under the collective authority of Congress and the President.
“The Congress shall have the Power…
To coin Money, regulate the Value thereof,
and of foreign Coin, and fix the Standards of Weights and Measures.”
- U.S. Constitution, Article I, Section 8
Therefore U.S. Currency should not be borrowed by the U.S. Government.
Rather, U.S. Currency should be created by the US Government as is outlined in the Constitution.
7. A full audit of the U.S. Treasury Department and the Central Bank should be conducted by Congress and the President annually.
8. The Comprehensive Annual Financial Report (CAFR) should be fully disclosed and reviewed to track all assets and all liabilities of the government to gain a more complete view of the government’s finances.
9. A strong audit should be administered on the CAFRs of the states and local governments across the nation to ensure full disclosure and weed out any corruption.
10. U.S. Economic sustainability will only be achieved when the heaviest tax- the tax of corruption- is lifted.