Published on Intrepid Report, by Nick Egnatz and Jamie Walton, October 7, 2013.
… The confusion the banking class has spread over the nature of money is largely responsible for the inability of our leaders to get it right.
There are basically three types of money:
- “Money as a commodity” Gold and silver coins and paper money backed by 100% gold and silver reserves in the vault.
- “Debt money created by banks”—This is the system we have now and is the cause of the problems we have now. Bills and coins make up only about 2 1/2% of our total money supply. The rest of our money supply is conjured up out of thin air by private banks when they make loans, with a private tax (interest) added on top. Continuer la lecture de « America needs the NEED Act »