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US267 - Nationalize the Federal Reserve
| Democratize monetary policy to bring about public control of the money supply and credit creation | |
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Description
Democratize monetary policy to bring about public control of the money supply and credit creation. This means we’ll nationalize the private bank-dominated Federal Reserve Banks and place them under a Monetary Authority within the Treasury Department.
Source: jillstein.org
Arguments
We would have to follow a similar management structure as now, with a group of experts executing according to legislatively-defined objectives. Wouldn't want to give our dysfunctional Congress too much responsibility for frequent decision-making. The key difference would be in reclaiming ownership to ensure that monetary policy is responsive to the people's interests.
The new fed should issue 0% 100 year direct loans to states to rebuild infrastructure to create tens of millions of jobs.
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