No Debt and No Taxes Necessary

[Online Professor]

When you study the following chart you will see the numbers that show that the Federal Government has $22 trillion of debt and $152 trillion in assets, You will see that the Federal Government collected $3.4 trillion in taxes and paid $3.1 trillion in interest of the National Debt.

If Congress issued our money we would not need to borrow it from the Federal Reserve and would not have an obligation of pay interest or collect taxes from the people .  U.S. Debt Clock

Initially our money was backed by gold and silver, but today our money is backed by . Money is created when people take out loans they back the loan with their promise to repay the amount borrowed.  They secure the loan by pledging their future earnings as collateral.

The Federal Reserve Notes we use are actually IOUs and in order to buy something we must trade our IOUs in exchange for the goods and services we want to acquire.

The money created to fund a mortgage is backed by the borrower's  promise to pay back the loan. The bankers  the amount of the loan out of thin air and charge the borrow interest to repay a loan that was created by the borrower's promise to repay the loan.

Banks charge interest when they create loans, which creates debt and in order for governments tax the people in order to pay the interest on the debt.

If Congress took over the issuance of our money, it would not need to  and there would be no debt and no necessity for the government to tax the people.

[0sd2tb6uscxy4]

I concur that debt based currency is bad news.  And that it is fiat & from nothing. 

If the Treasury issued it's own fiat currency we would forego the interest paid to the banxters.  But we would still have a serious problem.  The Treasury would be able to steal value from the notes in your pocket by printing more notes.  This is half a solution. 

A return to honest money is the only remedy.  Allow commodity based money to honestly compete on a free market without price & wage controls along side of the debt based currency & remove legal tender laws which are necessary to prop up the fiat notes.  If not manipulated, the market would swiftly embrace good money & drive out the bad. 

• Jefferson was attacked in 1812 for not embracing central banking. 
• Jackson was shot at for opposing central banking. 
• Lincoln was shot for issuing fiat notes. 
• McKinley was shot for opposing a central bank. 
• Hitler issued fiat notes and was attacked. 
• Kennedy was shot for an E.O. which would have re-instated silver & gold coin. 
• Reagan campaigned on re-instating silver coin until he was shot.
• Hussein was attacked for accepting euros for oil instead of frn's.
• Obama would have been shot if he minted his trillion dollar coin to bypass borrowing more. 
• Mubarak & Gaddafi were both attacked for re-instating gold dinar coins. 

Competition is a sin against the central banks!

[Online Professor]