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Forum Post: We Need a New Glass-Steagall

Posted 1 year ago on May 30, 2012, 9:08 p.m. EST by riethc (1149)
This content is user submitted and not an official statement

Sign the petition, call your Congressmen...

Tell them we need a new Glass-Steagall!

Elizabeth Warren: We Need a New Glass-Steagall: http://www.youtube.com/watch?v=TyRR-PsmPFM&feature=g-all-s

"A new Glass-Steagall" petition: http://act.boldprogressives.org/sign/sign_glasssteagall/?source=bp

US House of Representatives, Find Your Representative:

http://www.house.gov/representatives/find/

8 Comments

8 Comments


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[-] 1 points by niphtrique (323) from Sneek, FR 1 year ago

Governments and banks are the core of the usury financial system because they together control the creation of money. Both governments and banks share a common interest so government intervention and regulation will not solve the problem of money power undermining democracy. The power to create money must be taken away from banks and governments. The financial System should be simple so most people can understand finance. In this way it will be more difficult for insiders to take advantage of their knowledge. This will also reduce the need for regulation.

http://www.naturalmoney.org/finsectordesign.html

[-] 1 points by riethc (1149) 1 year ago

I agree with you that the origination of money has to be taken out of the hands of the financial elite. I believe in Constitutional money though, money creation was intended to exist under the rule of the Treasury and Congress, not the so-called Federal Reserve, which is run largely by bankers in the private sector.

[-] 1 points by niphtrique (323) from Sneek, FR 1 year ago

If you give it into the hands of politicians you will not fare much better.

I think that the money supply should be fixed, that fractional reserve banking should be abolished and that the money supply may only be changed after a referendum.

[-] 1 points by riethc (1149) 1 year ago

The purpose of pointing it under Congress and the Treasury is to shift the economy towards science driver projects, like funding space exploration and terraforming.

[-] 1 points by niphtrique (323) from Sneek, FR 1 year ago

I see no point in that.

This is financing boys playing with toys.

Taxpayers will foot the bill.

[-] 1 points by riethc (1149) 1 year ago

First thing is to let the "financing boys" eat their losses with Glass-Steagall. After the debt they created has been put back on them and taken off the backs of the general population, the best way to recapitalize the system is to invest in long-term projects that will create wealth on a scale unimaginable to what we have today.

Think about it.

[-] 0 points by hucklebuckle (19) 1 year ago

My brother fell into a shelf knocked over my mother's bird knicknacks.

Then my mother came home and said "Look what you guys did! Why can't I have anything nice? We need a new glass-seagull."

[-] 1 points by riethc (1149) 1 year ago

Well, aren't you inane.