Jack Metcalf war ein Senator im Staat Washington und hat sich lange Jahre
mit der Gruppe `Honest Money for America` dafuer eingesetzt, dass Geld
vom Staat direkt herausgegeben wird. Ich habe hier ein kleines Buechlein
in der Hand `The  200 year debate: who shall issue the Nation`s money?`
von 1986. Ich habe noch nicht weiters danach ge-googelt, es ist aber
wahrscheinlich ein interessanter Ausgangspunkt.

Ich tippe das vorletzte Kapitel hier ab, damit ihr einen Eindruck von dem Text

Chapter 17
The two hundred year debate:
who shall issue the nation`s money?

For two hundred years, the debate about out monetary system has continued. For long periods it smoldered; at times it raged furiously, the most recent being about the turn of the last century.

During the smoldering periods, few have been truly aware of it. There have been those few patriots who have clearly understood the subject, There have been those couragous congressmen who have spoken out. There have been the money trust moguls who have understood  best and have kept the most silent. Silence was - and is - their best ally.

We basically have two choices. The government can issue the nation`s money or the banks can be authorized to issue the nation`s money. The founding fathers who spoke out on this issue warned that the banks not be allowed to issue the monez. Jefferson, as usual, said it best:

`The issuing power should be taken from the banks and returned to the government, to whom it properly belongs.`

What`s the difference? Why should we care who issues it as long as there is enough money for the daily commerce of the nation to continue?

The difference is: if the banks issue the money, they charge you interest on it. In addition, and even more serious, the power to issue can be used to the advantege of large special interst.

As has already been explained, our debt money system - a creation of the banks, by the banks and for the banks - works daily for the detriment of the people of this nation. As our money system is manipulated for the profit of the few, the many suffer. As our money system is used for the gain of the large, the small lose. As our money system hurts the thrifty, and appears to reward the debtor, we fall further and further into the vortex.

Can we reform the system in time to prevent the `night-mare scenario?` Some say it is already too late. Can we find a solution, or does some natural law dictate recurring recessions and monetary chaos? What is the best solution? It can be solved, but first we must know what is wrong.

That best solution will come when more and more people actually understand the underlying cause of most of the problems of this nation - and of the world - is debt-money.


For the most part, I have discusssed the problem of a fundamentally flawed money system. I am still not ready to say that there is only one possible solution. There are many options; each has its advantages and disadvantages. This is a political problem in that when monetary reform comes, as it must, it will come through Congress. A political problem demands a political solution, but two questions always arise at this point.

`What?` a listener says with a distinct shudder and obvious distate, `you want to let Congress handle the money?`

This conjured up the image of Tip O`Neill operating the levers and deciding national money policy; enough to scare anyone. Congress has lost the confidence of the people by the annual overspending resulting in our huge deficits. We probably need a constitutional amendment establishing a money system with built in safeguards to prvent mis-use by congress.

However, I imagine that letting the fed handle the mooney gives congress the best possible out. have you ever heard your children say, plaintively, `it`s not MY fault`? Well, that`s congress and the fed. congress can blame the fed for whatever happens to be the problem at the time. The fed can blame congress and demand that the budget be balanced and throw in a line or two about allies that don`t help us out when we need it.

IF the fed had - at any time in its 73 years - but a brake on congress and said `No siree, we won`t give you any more money to spend so you just better figure out how to raise taxes or cut spending because we won`t give you any more backdoor money,` I would have to say a few good words right here about the fed. The fact the matter is, they haven`t. They are happy to create all the money congress thinks it needs and loan it to the government at attractive rates of interest.

The fed chairman may have come before congress and pontificated about how this and that should be better done - but they have never denied the spending habits of the congress. So, not only are we overspending, but to add injury to insult, we are being charged a healthy rate of interest on money they created out of thin air.

I also hear `senator, if you don`t have the fed, we will have chaos in our monetary system.` That`s an easy one to respond to: `What do you think we have now?` Suffice it to say any of the proposed solutions will present less chaos in our money system and more protection for the people than does the present Federal Reserve System.

There has to be a better way - for the US, for the Western World and for the pople of this planet. All are today dependent in one way or another on a healty (or relatively healthy) US economy.

One thing I have found over the past 5 years is that after arriving at a point in a speech or a discussion about the problem, the minute we begin to talk about solutions, the room is immediately divided into 3 or more warring camps. Most people I talk with agree we have a problem. When you talk about solutions, one-third will way that the only possible solution is to return to a gold or bi-metal standard. The next one third will say, no, that`s wrong, the government can merely issue all the nation`s money. The last one-third will divide into smaller parts believing in currency backed by other forms of wealth such as commodities, land, the value an hour of labour, oil etc. Unfortunately, all have studied this issue for some time and all being strong, intelligent opiniated individuals, they are often unwilling to listen to other solutions. The feuds begin.

I like to think that Honest Money for America has had something to do with softening this attitude. We have taken a leadership position in getting everyone to agree that the first step that must be taken is to eliminate the nonsense of paying interest on our money in circulation. Gold people agree on this, silver people agree on this and commodity based or fiat money people agree on that.


I must repeat. This is a political problem .... it will have a political solution. We can only work hard and pray even harder now and in the future in the hope of properly influencing this political decision.

I do know - and want to leave you with a very clear messsage - the choice is honest money or debt-money.

This issue will be the most explosive political issue over the remainder of this century. Outside of nuclear war, no other issue so dramatically affects each and every person in this nation.

The founding fathers understood the importance of a sound money system. They were cognizant of the difference between debt-money and honest money. They knew Constitutional control of the money supply was the only way to protect the people.

The fundamental question is: `Who shall issue the nations money?`

Either the government issues the money or the banks issue the money. The difference is that when the banks issue the money, they charge us interest on it. We can`t tell enough people about this!