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National Banking vs. the Slime Mold
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The alternative to a slime mold today, is a practical one. The slime-mold system is dying. Every banking system in the world, except probably China and maybe India, is bankrupt. The Japan banking system is now loaning negative: Loans are negative! Not zero interest, but negative! They don't pay interest, they take interest. The U.S. banking system is bankrupt. The banking systems of the Americas are all bankrupt. The European banking systems are all bankrupt. The economies of Europe are now, under current conditions, bankrupt. All of Europe, bankrupt. The United States and the Americas are all bankrupt. So what do you do?
We have an IMF/World Bank system. What do we do with it? What do we do with the Federal Reserve Bank system? The Federal government is morally responsible to put this banking system into bankruptcy reorganization, by the Federal government. At that point, the Federal Reserve system and all its assets come under the management of the U.S. Department of the Treasury. In effect, the U.S. Department of the Treasury sets up a facility within it, which becomes the national banking system, which actually runs the Federal Reserve system, and all the banking system of the United States, all those which are not state banks.
The Federal Treasury then, has to set up rules under this, which establishes a kind of national banking as described by Alexander Hamilton, under which the credit of the United States is the primary focal point of banking. We set up systems of regulation of banking on the national level and interstate trade, which naturally affect all the state levels, which regulate currency, which regulate banking, which prohibit usury. For example, the United States by law can say tomorrow, the highest legal interest rate is 6%. Your credit card debt has just been solved. It can say 2%. We have the sovereign power to do that! All we have to do is justify it on the fact that it's in the national interest. We are obliged as a sovereign to act on the national interest, and all private considerations contrary to the national interest, must be subordinated to the national interest.
This is our country. Constitutionally, it was the best designed of any nation ever made. There's no replacement. Europe should copy us. Other parts of the world should learn from us. We have forces inside which have corrupted us, but if we stick to what we were constitutionally designed to be, what the Preamble implies, we are the model of a republic as expressed as a desire by Plato, in The Republic. We are that. We were designed that way, we were intended to be that. Our leading thinker was Leibniz, even though he'd been dead. Franklin was backed by the circles of Leibniz in Europe, around the ideas of Leibniz. The Declaration of Independence is based on Leibniz, not Locke. The Preamble of the Federal Constitution is based directly on Leibniz, not Locke. We are the best form of republic ever formed. We are the American exception. We are the exception on this planet, designed as a republic.
Our imperative requires us, morally, to be what we were designed to be. To be a true republic, in which the general welfare is law, in which posterity's interest is law, in which sovereignty of the nation is law. And we are sovereign. No international authority has any authority over us which diminishes our sovereignty. What we should desire is simply that every other country do the same, and we will find that our essential interests in cooperation coincide. And therefore, we will create what emerges as an international community of principle, in which the common interest is the general welfare of each and all the peoples of those nations. That should be our objective.
Therefore, we don't need a Federal Reserve system. That's an abomination. It has been an abomination. Ever since 1979, it's been an atrocity under Paul Volcker. Paul Volcker became the head of the Federal Reserve system by campaigning under the slogan of--it was acceptable to him to have a “controlled disintegration of the U.S. economy.” What has happened recently, is that a controlled disintegration of the U.S. economy has gone into an uncontrolled disintegration, and this has been the life's work of Volcker and his successor Alan Greenspan. The only time Greenspan does any good is when he's sitting in his bathtub, because he certainly needs a lot of cleaning!
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