Bankers can’t run everything
July 24, 2011
On this edition of the Still Report, Bill Still discusses the current debt ceiling crisis and the absolute need to end fractional reserve lending where banks loan out money they don’t have.
Sovereign nations don’t have to borrow their money into existence, yet the U.S has done so since 1913. You cannot “pay down” the National Debt because all of our money is created out of debt. To reduce the debt would be to reduce the national money. The only solution is to do what’s been done many times throughout U.S. history, issue debt-free U.S. Notes, instead of Federal Reserve Notes and break free of the debt money system. The problem is the same for every nation on earth, as is the solution. Nations don’t have to borrow; nations can create.