Please email your representatives in Congress and demand that they stop the endless debates over the debt ceiling and instead pass legislation for a sovereign money system that would end this debate and allow us to pay off the Federal debt over time.
Congress has taken 79 actions in the past to raise, extend, or temporarily suspend the debt ceiling. Months are wasted while they debate and wrangle over raising the debt ceiling. These debates are used to distract the public while they refuse to take action on real legislation that could be enacted for the general welfare.
The bigger truth that is hidden here is that we shouldn’t even have a national debt. The only reason we have this debt is because Congress set up our monetary system that way when it enacted the Federal Reserve Act in 1913. Congress has the authority under Article I, Section 8 of the Constitution to create money for us all to use. In 1913 it delegated that powerful authority to private bankers. The worst drawback is that the only method for adding new money in circulation occurs when private commercial banks make loans. They create money by simple key strokes in a borrower’s bank account, and decide where to make the loans. It becomes new money. This is called debt-based money. This power and control have created many problems – including the vast inequality of income and wealth in our society
It is very difficult for people to understand this system because it defies logic. In essence, the government grants private commercial banks the power and privilege of creating money. Then the government borrows money created by the banks and pays interest on it. Congress created this mess, and only Congress can fix it. e
Below is a sample letter to send to your representative in Congress. Use this to email them and tell them that they must change this system. And please endorse and share this opportunity to take action on Facebook and Twitter.
Dear Mr. (or Ms.) ______________________.
The American people have suffered a severe decline in their standard of living over the last few decades. The cause of this can easily be laid directly at the feet of Congress, and its failure to prioritize the welfare of the people. A Princeton Study made this very clear when it revealed that from 2009 to 2014, the two hundred most politically active companies in the U.S. spent $5.8 billion influencing our government with lobbying and campaign contributions. Those same companies got $4.4 trillion in taxpayer support – a 750% return on their investment. Meanwhile the American people who created all that wealth for them, do without.
Our nation is in debt because Congress has shirked its responsibility to “coin the money, [and] regulate the value thereof" (US Constitution Article I Section 8) and thereby fulfill its Constitutional mandate in the Preamble, which you have sworn to uphold. The Constitution does not give the power to create the nation’s money to the commercial banks. The FED does not rule the banks. Private banks (including at least one foreign bank) own the 12 Federal Reserve Banks. A corrupt Congress did that in 1913. As we approach the 80th time Congress has debated the debt ceiling isn’t it time to resolve this issue permanently?
We can do that by implementing a sovereign monetary system which issues money as a permanently circulating asset, instead of a temporarily circulating debt. The legislation to do this has already been written and was introduced to the 112th Congress in 2011 as the NEED Act, HR 2990. It calls for three critical reforms to create and protect a public monetary system dedicated to the public interest. They are:
- Require Congress to be the sole creator of all U.S. money debt-free.
- End the privilege of commercial banks to create money.
- Transfer all remaining operations of the Fed to the U.S. Treasury.
Government issued the Continental, debt-free money to fund the American Revolution, and did it again with the Greenbacks to defend the nation from dissolution during the Civil War. In both cases it was a revolt against the private bank’s refusal to help the nation. We have issues now greater than any they faced. It is time to change the system for good; it is the only way to pay for the great needs facing us today. Only Congress has the authority to create sovereign money, end the debt spiral, and act for the common good.
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The Green Party's Banking and Monetary Reform Committee (BMRC) is a committee that provides educational materials to Green Party members and candidates, drafts Green Party position statements and press releases concerning pending or new legislation or events affecting banking and monetary systems, and proposes platform amendments when necessary to support the Green Party.
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