©2009 American Monetary Institute, P.O. Box 601, Valatie, NY 12184
“Over time, whoever controls the money system controls the nation.”
Stephen Zarlenga, Director
The World economy has been taken down and wrecked by the financial establishment and their economists;and by their supporters in the media they own, and even by some in the executive and legislative branches, in the name of “free markets” and insatiable greed. Shame! Shame on them all!
The American Monetary Act (the “Act”) is a comprehensive reform of the present United States money system, and it resolves the current banking crisis. “Reform” is not in its title, because the AMI considers our monetary system to never have been adequately defined in law, but rather to have been put together piecemeal under pressure from particular interests, mainly banking, in pursuit of their own private advantage, without enough regard to our nation’s needs.
That is the harsh judgment of history as made clear in The Lost Science of Money, by Stephen Zarlenga (abbreviated LSM).*
It draws from and improves a previous proposal known as “The Chicago Plan,” which was advanced by Professors Henry Simons, Irving Fisher and other leading economists in the 1930s in response to the wreckage of the Great Depression, which resulted from our poorly conceived banking system.
This Act is more comprehensive and includes improvements to infrastructure, including the human infrastructure of health care and education.
While The American Monetary Institute is responsible for its present form, the Act is based on Aristotelian monetary concepts in existence since at least the 4th century BC and employed successfully in a variety of monetary systems since then, ranging from democratic Athens to republican Rome.
It is not merely a theory -its main elements have a long history of successful implementation in major societies around the world, including the American Colonies and the United States. These concepts enabled us to first establish the U.S. and then to maintain it as one nation.
The current text of the Act (continuing to be developed) is presented on the right side of each page.
This is still an open process – suggestions and criticisms are welcomed.
This five page form of the Act is a structural summary, which gets more detailed and fleshed out by legislative aides preparing it for introduction into Congress as a Bill.
* Please see The Lost Science of Money book for the case histories that demonstrate in detail, the points of
The power to create money is an awesome power – at times stronger than the Executive, Legislative and Judicial powers combined.
It’s like having a “magic checkbook,” where checks can’t bounce.
When controlled privately - but backing upon the government granting of legal monopoly privileges- it can be used to gain riches, but much more importantly it determines the direction of our society by deciding where the money goes – what gets funded and what does not.
Under the Constitution, Article I, Sec. 8, our government has the sovereign power to issue money and spend it into circulation to promote the general welfare, for example, through the creation and repair of infrastructure, including human infrastructure - health and education - rather than misusing the money system for speculation as banking has
historically done; periodically causing one crisis after another. Our lawmakers must now reclaim that power!
Money is an abstract social power based in law; and whatever government accepts in payment of taxes and bestows legal tender will be money. Money’s value is not created by the private corporations that now control it.
As Aristotle wrote: “Money exists not by nature but by law.”
The American Society of Civil Engineers gives a D grade to our infrastructure and says it will soon be a D-; and estimates that $2.2 trillion is needed to bring it to safe levels over the next 5 years!
That fact alone shows the world’s dominant money system to be a major failure crying for reform.
A reformed monetary/banking system can make this happen NOW!
All the past monetized private credit would be converted into U.S. government money. Banks would then act as intermediaries accepting savings deposits and loaning them out to borrowers. They would do what people think they do now.
This Act nationalizes the money system, not the banking system. Banking is not a proper function of government, but providing the nation’s money supply is a government prerogative!
When one actually examines the monetary record, it becomes clear that government has a far
superior record in issuing and controlling money than the private issuers have had.* Inflation is avoided because real material wealth has been created in the process. Research and development of superior pollution-free technologies is facilitated.
That’s a religion with no supporting evidence that ignores the facts which clearly disprove it.
Franklin Butler 80 years later.
History shows that the money power will act like a fourth branch whether we recognize it as such or not. It’s not safe to leave so much power and privilege in private hands! It’s counter to our system of checks and balances.
The current developing crisis requires us to re-evaluate and focus on it now. We must not shrink from our responsibility to begin implementing the long known solutions to this problem.
Or would you prefer to let “Enron” continue to control it, and us? And yes - Enron was on the Dallas Fed Board!
As the late Congressman Wright Patman, Chairman of the House Committee on Banking and Currency for over 16 years, said,
Friends, look around you. That time has certainly come! Awaken – get up and fight for your family and nation.
Thanks for your attention,
*Please see The Lost Science of Money book by
Stephen Zarlenga for the case histories that demonstrate
in detail, the points of this pamphlet.
AMI is a registered
501c3 Publicly Supported Charitable Trust. http://www.monetary.org"
También en UK existe un proyecto de reforma similar. Podeis encontrarlo aquí:
Y aquí varios portales muy completos llenos de referencias y materiales sobre el mismo tema: