Hi Stephen,
What you are proposing doesn’t sound absurd. In fact, I believe it goes to the core of the problem I was attempting to highlight: the foundation of inequity (not just in the United States, of course) is money. Period. But it’s not simply a matter of some people having much more money than others; the root of the money problem is how our money is created in the first place.
Central banks control the creation of money for most nations, but in many cases (and in the U.S., in particular), those banks aren’t publicly-owned. They’re quasi-public institutions that are heavily influenced and even owned by private interests.
For example, most Americans don’t realize that while the Federal Reserve is a government agency, it’s an independent agency that cannot be controlled by anyone — not even the President. In fact, the Federal Reserve isn’t even part of the federal government.
Moreover, the Fed is not a single bank but is actually comprised of 12 separate banks that are structured like private corporations. These banks hold stock in the Fed (like any private shareholder would), and each Federal Reserve Bank has a board of directors. But here’s the kicker: SIX of the nine directors of each Federal Reserve Bank are elected by commercial banks.
In other words, private commercial banks — like JP Morgan Chase and Wells Fargo — control the agency that loans money to the U.S. government, sets interest rates, and basically determines the course of the country.
It’s all in black and white on the Fed’s website.
While we are busy gnashing our teeth over race and niche politics, banks quietly wield power over the money that creates scarcity in housing and healthcare, compromises our infrastructure and our childrens’ education, and widens the class divide for all Americans each and every year.
Humanity’s survival will depend on our willingness to overcome the manufactured division that elites have used to distract our attention from the elephant in the room. We MUST come together, reject the current monetary system, and collectively develop a more sustainable one, as you have proposed. The future of our species literally depends on it.
Stephen, what can we do to wake people up before it’s too late?
