whose hands would you trust the duties of controlling interest rates, the money supply & inflation to??
Very good question tdoto88, First we would need to back the currency with something holding value like gold or silver, precious metals ect. I'm not going to BS you and tell you I got this complicated matter all figured out. To audit and then after the audit results are in abolish the Fed is the start. If we did this I would expect discussion in the branches of government, to the people to come up with an alternative. A model like this would be a reserve currency system alternative.
People of Lakota Launch Private Bank for Only Silver and Gold Currencies
Hill City, Lakota - November 24, 2008 - In a stunning development, the Free & Independent People of Lakota announced today the introduction of the world's first non-reserve, non-fractional bank that accepts only silver and gold currencies for deposit.
"Today is a great day for us, a day that we begin to exercise our rights as a sovereign people with strength and pride," comments Canupa Gluha Mani, Tetuwan Council Judicial Member of the Cante Tenza "Strong Heart" Warrior Society. Mani's 2500 member warrior society has contracted to provide private security services for the Free Lakota Bank.
"We invite people of any creed, faith or heritage to unite in an effort to reclaim control of wealth. It is our hope that other tribal nations and American citizens recognize the importance of silver and gold as currency and decide to mirror our system of honest trade." Mani, also known as Duane Martin Sr, is a member of the delegation that declared Lakota independence on December 17th, 2007.
The launch of the Free Lakota Bank is also an incredible victory for StrikeForce Technologies, the access control experts providing depositor Out-of-Band Authentication. As the Free Lakota Bank does not require a name, photo identification or social security number to transact, StrikeForce's technology met the challenge of limiting fraud without requiring controversial biometric technology.
The People of Lakota invite depositors to establish accounts and invest in the Free Lakota Bank's General Investment Fund, the fund it uses to develop profitable free-market enterprise inside Lakota territory. Mani comments that the nation despises donations and charity, and instead insists instead on "earning our wealth by creating value for those that place their faith and trust in our system."
The Free Lakota Bank issues an American Open Currency Standard Approved currency, making it readily accepted for trade by over 10,000 merchants and businesses across the continent.
For more information, visit the Free Lakota Bank website at
http://press.freelakotabank.com
Contact:
Canupa Gluha Mani
service (at) freelakotabank.com
P.O. Box 512
Hill City, LK 57745
888.784.9996
You can also do some reading to other Federal Reserve alternatives and reading here
http://www.mind-trek.com/reports/tl17a.htm
“but homie you responded to was right..Keynes said in times of a recession the government is to step in..”
I disagree with Keynes and the whole thought of spending your way out of debt. Government is how we got here, IE doing away with the Glass–Steagall Act is just one of many actions that got us here. So I don’t expect them to fix the problem they create while their greedy and incompetent. I don’t expect the government to do much right. Look at Katrina, 2 wars, now a oil spill ect, and tell me what government is good at doing. Also I will admit, I’m in the minority on this issue so in 2008 we have been doing it the governments way with bail outs and stimulus packages. However what happens when that money dries up? Well see, I WANT TO BE WRONG. Also is there a figure of government debt we will reach where GDP can’t pay it back because of too much debt?