Archived Story

Spending, not lending, will be key

Published 8:48am Thursday, September 13, 2012

Letter to the Editor

Most Americans will never again enjoy the standard of living they’ve grown accustomed to or dreamed about unless they demand change in the character of their money. Special interests lobbied to pass laws in 1853, 1864, 1873, 1913 and 1934 that switched our money from an evidence of wealth to an evidence of debt created and placed into circulation as loans. This change put us into growing economic servitude to unpayable interest-bearing debt.

Under Generally Accepted Accounting Principles, money (numbers) is now created in a computer as a simple debit to a loan account and an equal credit to a checking account. Only loan principal is created. When loan principal is repaid the debit is gone. The money is gone. Get rid of the debt. Get rid of the money. Our money is the debt. To have money we must have the debt. The interest debt grows while the money exists and after as more borrowing is required to pay interest on previous loans. The collective debt constantly grows eventually destroying America.

To change the character of our money from an evidence of debt back to an evidence of wealth and restore our economy, prosperity and freedom, the Treasury must create the numbers and spend them, not lend them into circulation, debt and interest free as a payment for the building and maintenance of public roads and bridges instead of borrowing or taxing.

Gregory K. Soderberg,

Austin


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