Just like in the noose, the knot is the problem, not the length of the rope. The problem of the world wide economy is that it is debt-based, not equity-based. So the question is, how do we untie the knot and turn the rope into a lifeline, to pull us out of the current situation?
The answer surprisingly came out of a statement that Alan Greenspan, the former Fed chairman, made in London last month which didn't even get a headline in the news. He said that it is time to nationalize the banks in the free world. In his old age, he is finally learning to speak the truth.
The problem with the current economic system is that it has been trying to defy logic and mathematics for the past 94 years, ever since the formation of the Federal Reserve Bank in 1914. You cannot create paper money out of nothing and expect to get more than what was printed. The Feds have lowered the prime lending rate to 0.25%, but that won’t work.
To solve the problem with the current structure we must turn the bankers into distribution channels for money. The first step is to nationalize the Feds, and have the country issue its own money, like President Kennedy did in 1963. The country must lend it to the bankers at a discount like 80 cents on the dollar, and banks must then lend it to people at like 85 cents on the dollar. Then tie the lending to practical needs and ideas, and not real estate or credit scores. So as simple as the solution is, what are the obstacles to its implementation?
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