1 vote

Kucinich wants to give Congress the power to create money out of nothing.

So the government can create money on the fly to spend to "create jobs."

http://www.youtube.com/watch?v=oUpXDZFtEHw&feature=share



Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Where did you get that? I read the "Need Act" and that is not...

...what it is saying.

http://kucinich.house.gov/UploadedFiles/NEED_ACT.pdf

"I support the Declaration of Independence and I interpret the Constitution."

Kuchinich is a socialist that wants to fund big government.

In the original draft of the Constitution in Article 1, Section 8, Congress was given the power to coin money and regulate the value thereof, and to emit bills of credit (spend paper money into circulation to pay its bills), but this was debated and the provision allowing Congress to emit bills of credit was removed. Also Article 1, Section 10 prohibits the States from making anything but gold and silver coins legal tender.

The intent was clear. Congress was to coin gold and silver and this was to be the only legal tender in the States (the entire nation).

Yes the Federal Reserve Bank should be abolished and gold and silver coins (or paper and electronic receipts for coins actually on deposit) should be the only money we use. This would require that banks hold 100% reserves of gold and silver coins against their deposit liabilities. The result would be a stable money system without the ability of banks and Wall Street to fleece the public by creating paper and electronic debt money out of thin air. The boom/bust cycle would be moderated down to an amplitude that natural cycles created, but there would not be these major booms / busts that the Federal Reserve System creates. Money would hold value instead of constantly depreciating.

Were the Federal Reserve Bank to become part of the Treasury Department, spending paper money out of thin air into existence to pay government bills, we would soon have even bigger government and hyper-inflation of the dollar. The lives of the citizenry would be destroyed and revolution would quickly follow. Kuchinich's solution would be a matter of jumping out of the frying pan into the fire. He is no friend of freedom, and he is just proposing replacing the present system of plunder and control with a little different version, both being predatory, fraudulent, unstable, unsustainable, and unconstitutional.

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.