synopsis how privatized banking really works

7/29/2019 Synopsis How Privatized Banking Really Works

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How PrivatizedBankingReally Works

The Sound Money Solution

1. Link outstanding Dollars to Gold: Creates propertyrights to unit weight of gold All Banks solvent --100% Reserve Banking -

--No more Inflation!

2. Privatize Banking: Government money monopoly abolished

3. Close Central Bank: Size and Expense of Gov t decrease,

taxes go way down, savings --- which fuel investment, go up!

L. Carlos LaraRobert P. Murphy, Ph.D.

[email protected]


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CONTENTS

PARTONETheQuandary

Chapter1:Introduction

PARTTWO

PARTTHREE


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Noonecanfindasafewayoutforhimself

if societyissweepingtowardsdestruction.

Therefore everyone, in his own interests,

must thrust himself vigorously into the

intellectual battle. None can stand aside

with unconcern; the interests of everyone

hangontheresults.

LudwigvonMises

Chapter1:Introduction

Whydowehavetohavemoney?

As the late economics Professor Clarence Carson explained, this is the type of

questionyouaremostlikelytohearfromayoungchild.However,whenachild

asksaquestionlikethisthereisnorealinterestinknowinganythingaboutthe

origin of money, or how it functions, or even about the fact that it is only a

mediumofexchange.Actually,thequestionstemsentirelyfromtheideathatthe

things the child wants cost money and he does not have enough of it. So in

essence,thechildsrealquestioniswhyhecanthavewhateverhewants,when

hewantsit,withouttherebeingacostattachedtoit.(1.)

Now,whenwestepbackandseriouslythinkaboutit,thisisaverygoodquestion

andnotonlyofchildren,butalsoofadults.Itisaquestionthatdoesnotpresson

us too much, so long as things are going well economically and we all have

sufficient incomes to pay for the things we want and need, butwhathappens

whenallofthatchanges,asinthetypeofchangesweareallexperiencingtoday?

Allofasuddenthealarmbellsstarttogooffandeveryonestartsclamoringfor

answersaboutmoney.

It was actually the widespread clamor for these answers that was one of the

principlemotivationsforthewritingofthisbook.Itallbeganwiththealarming

panicthatspreadthroughouttheworldintheearlyfallof2008.HereintheU.S.

itwasevidenteverywhere.Everyday,forweeksonend,peopleweretransfixed________________________________________________________________

(1)AgoodquestionputforthbyClarenceB.Carson,Textbook:BasicEconomicswithStudyGuidebyPaulCleveland,Ph.D.,

AmericanTextbookCommittee,3105FourthAvenue,PhenixCity,AL368673309


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totheirTVsetsastheylistenedtothingstheyhaddifficultycomprehending,but

knewalltoowellthattheywereexperiencingahorrificfinancialmeltdownunlike

any other they had ever witnessed. The uncertainty the crisis created for

everyonewasimpossibletohideanditwasapparentineverydayconversations.

Most notably was the fear it generated among schoolchildren from simply

observingthestateofanxietyinthefacesoftheirparents.Americans,almostin

unison, came torealize inaverypersonalway how fragileourentireeconomic

systemhadbecomeastheywitnessedgiantfinancialstructurescrumble.Infact,

collapseoftheentireU.S.financialsystemdidnotescapeanyonesmind,even

themindsofthemostsophisticatedeconomicexperts.

Todayweareleftwiththeaftermathoftheearlyphasesofourpresentfinancial

fiasco with many Americans now having lost their businesses, their jobs and

entirelifesavings.Thedramaticcrashofthestockmarketanditserraticbehavior

since, coupled with the collapse of the real estate market, has left people

everywhere asking:where in the world do you put your money now? No one,

however,is,orcanbe,confidentinhisanswer.Fearofdoubledigitinflation,even

hyperinflation,isonthemindsofmany.Goldandguns,growingstatisticallyhigh

indemand,areevidenceoftheuncertaintyofourfuture.Asournationstruggles

with these problems, as it attempts to redefine, or create a new sense of

direction,manyhavealreadylostallhopeintheeconomicprinciplesthatonce

madethiscountrygreat.Theentireideaandhopeofafreemarketeconomyisin

crisis.ArecentBritishBroadcastingCorporationpollacross27differentcountries

showed 89% of the 29,000 individuals questioned were disillusioned with

capitalism.Thisiswhythoseofuswhostillbelieveinthemarketandwantnopart

of socialismare demanding reliableanswerstohelp unravel all of the financial

confusion!

Of course, this is not a new problem. As new as it may seem to our present

generationin2010,thestruggleforthecontrolovermoneyisasoldasmankind,

butone sureplace tobeginthequeryaboutmoneywithin theUnitedStatesis

with this stark and paramount realization: OURMONEY IS NOT FULLY IN OUR

CONTROL.TheCentralBankoftheUnitedStatestheFederalReservehasa

completemonopolyonourmoneyandthiscontrolismandatedbyourfederal

government. This domination of our entire monetary system has had severe

economic andmoral ramifications. The effectsof this monopoly are the prime

reason why the value of our money has fallen some 95% since the Federal

Reservesfoundingin1913anditisthedirectcauseofourcurrentfinancialcrisis.


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We cannot ever hope to begin to think and seemoney with clarity until this

realization is exposed and fully understood. To begin talking about the free

market, money, savings, interest, credit, investments or banking without first

havinga complete grasp ofthis truth, the factthatwe areunder the grip ofa

centrally planned money mechanism, leads nowhere but to even greater

confusion and disenchantment. However, in order for this truth to be fully

graspedbytheaverageU.S.citizentothedegreethatpublicopinioncaneffect

a real change at the topechelons ofgovernmentwill take nothing short ofa

miracle.Howintheworlddoyoutaketheprintingpressawayfromgovernment

once they have had full use of it all these many years? Until this is done,our

UnitedStateswillcontinuetoheaddownapathofsocial,politicalandeconomic

ruin.

Yesitistrue.Itisallsohugelyoverwhelmingandhopelesstoobigtofix.Infact,

justhowwouldonegoaboutchangingsuchamonstrousproblem?When life is

shortandthemomentofapossiblevictorysofarinthefuture,whyevenbother?

What is thepointofeventrying?Well first ofall consider this,and consider it

seriously.Ifchangedoesnotoccurhereinthiscountry,acountrywherechangeis

stillpossible,thereisnoplaceelseleftonthisplanetforanescape.Theentire

worldoperatesbythissameclosedandcontrolledmonetarysystem.Government

mandated paper money and banking systems are everywhere! In the United

StatestheCentralBankistheFederalReserve,inEngland,theCentralBankisthe

BankofEngland,inItalyitistheBankofItalyandsoonineverymajorforeign

country.Thepowerandgrowthofgovernmentseverywherearefueledbythese

monopoly systems and their growth has cut into the quality of life for all

individuals to staggering proportions. It is like a virus, parasitic in nature and

whichwilleventuallykillthehost.Ifwedonotmakeanefforttochangeitherein

ourcountrynowitwillneverchangeandifwedonotstepforwardtohelpchange

it,noonewill.

Second,thereisnorationalreasontoworkmyselfandyou,thereader,upintoa

revolutionary frenzy unless we stop long enough to realize that we are losing

somethingverypreciousOurFreedom!Tobring this intoperspective,consider

thattheabundancethatweseeandhave,ourhighstandardoflivingthatmostof

usenjoytoday,cameintoexistencebyamovementgerminatedfromtheideaof

freedom.Thismovementexplodedhereinthiscountryfrom1776until1914a

very briefperiod of justover135years!Comparedto theentire history ofthe


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world this is amazing! Wemust, therefore, reversethis trend for it is possible

thatwemayneverhavetheopportunitytodosoagain.

"Take for example the major movement of the great classical liberal of the seventeenth,

eighteenth, and nineteenth centuries. These, our ancestors, created a vast sprawling, and

brilliant revolutionary movement, not only in the United States but throughout the Westernworld that lasted for centuries. This was the movement largely responsible for radically

changinghistory,foralmostdestroyinghistoryasitwaspreviouslyknowntoman.Forbefore

thesecenturies,thehistoryofman,withoneortwoluminousexceptions,wasadarkandgory

recordof tyrannyanddespotism,a recordofvariousabsoluteStatesandmonarchs crushing

andexploitingtheirunderlyingpopulations,largelypeasants,who,livedabriefandbrutishlife

atbaresubsistence,devoidofhopeorpromise.Itwasarevolution,aclassicalliberalismand

radicalismthatbroughttothemassofpeoplethathopeandthatpromise,andwhichlaunched

thegreatprocessof fulfillment.Allthatmanhasachievedtoday,inprogress,inhope,in living

standards,we can attribute to the revolutionarymovement, to that "revolution". Thisgreat

revolutionwas our father; it isnow our task tocomplete its unfinishedpromise.Sowrote

AustrianEconomist,MurrayN.Rothbardin1969.

Third,andmostimportant,isthatamovementforrealchangecannotpossiblybe

effective if it starts from the top down (government down to the individual

citizen).Thegenesisfor changemuststartwith the individual. Itmusthave the

individual as the principal criterion and spread out and up from there. This

happensonlywhentheindividualseconomicsurvivalquestionsareansweredto

hisfullsatisfactionandwhenheexperiencesimmediateresultsforhimselfinthe

change endeavor he embarks upon. That is what this book is about. This is of

crucialimportancebecausewhenthereareimmediatebenefitstotheindividual

fromhisproductiveefforts,theindividualtakesnoticeandimmediatelyseeksto

duplicateit.Whenheseesthatthebenefitshegainsalsohelpsocietyasawhole,

heisencouragedandmotivatedtoinvolveothers,beginningwithhisownfamily

membersandtheneveryoneelsewithinhiscircleofcontacts.Thistypeofgood

newsalwaysspreads,slowlyinthebeginning,butthensuddenlyitturnsintoan

evangelisticexplosion.Amovementthatworksinthismannercanquicklytakeon

alifeofitsownandspreaduntilpublicopiniongrowsforcingtheupperechelons

of government to make vital and necessary changes. In the end, all economic

policies are ultimately dependent on the views of the general public and their

choiceisfinal!Itisthemassesthatdeterminethecourseofhistory,butitsinitial

movementmuststartwiththeindividual.

Forthesethree importantreasons this book contains information toguideand

empower the individual. Itdescribes indetail three independent ideas thatare


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alreadyatworkspreadingandgainingmomentumthroughoutthegrassrootsof

our country. The people and institutions involved with these ideas are

wonderfullycreative!Althoughdistinct,theseideasaresouniquely intertwined

thatbringing them togetherasone powerfulmultidimensionalelement inthis

bookwasnatural.ThesethreeideasareAustrianEconomics,theSoundMoney

SolutionandPrivatizedBankingasbestdescribedbytheInfiniteBankingConcept,

a bookwritten by R.Nelson Nash.Oncefully understood,eachof these three

ideasprovidesthebasisforaformulawithpowerfulturnarounddynamicsthat

maybeimplementedbyvirtuallyanyindividual.Theresultisaprivateeconomic

enterprise and selfperpetuating teaching tool that provides the individual the

savings,bankingandfinancingcapabilities itneedstoacquireallof hismaterial

needs,plusthepowertoliterallyreconstructnationalmonetarypolicy.Itisthese

benefits that are the key to keeping the individual inspired as he spreads the

messagetoothers.Asthemessagegrowspublicopinionwillchange.

This powerful combination is the new idea presented in this book. This is,

finally,asolutionthatanswersthequestionofwhatonepersoncanactuallydo

thatwillmake a difference in aneconomic environment that has gone terribly

awry. When you beginfirstwith the individualsownprivate economicaffairs,

things change immediately for the better. It becomes the individuals escape

routetofreedom.Furthermore,theSoundMoneySolutionsupportsthisideaand

AustrianEconomicsconfirmsit.Moreimportantly,theindividualcangointothe

economicenterpriseimmediatelyregardlessofthebridledmoneysystemhemay

be in andwhat is going on all around him in the present social, political and

economicenvironment.Althoughhis hope rests inthe ultimate triumphof the

Sound Money Solution, which is changing the national monetary policy, the

processheisengaginghelpsthrustforwardtheAustrianEconomicmessagewhile

advancinghisownpersonaleconomicbenefitsinthehereandnow.

The idea is so rational that it should not at all be difficult to grasp. All that is

required is an open mind, the understanding of a few undeniable economic

principles, the use of sincere conviction, common sense, imagination, courage

and,aboveall,discipline.Hopefully,inthesefirstfewbeginningparagraphs,the

readersappetitehasbeenwhettedenoughtowanttobecomemoreacquainted

withtheprocess.Afterunderstandingtheideaclearlyandseriousthoughtgiven

to it, it will naturally follow that the reader will want to embark upon the

endeavor.Inacting,byimplementingtheprocessinhisowneconomicaffairs,the

reader confirms the immediate benefits of the ideaand assureshimself that it


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doesinfactreallywork!This,inturn,leadsyouintotellingothersaboutyournew

foundindependenceandfreedomtherebyspreadingthesolutionforourcountry

everywhere.

IgnoringtheAustriansGotUsinThisMess

Inbringingtogetherallofthethoughtscontainedinthisbook,itisimportantfor

the reader to know that I have received an enormous amount of help and to

knowexactlyfromwherethathelpcame.Thisisimportantbecauseifthereader

istoimplementtheideapresentedhere,hewillideallyneedtotakeverysimilar

steps for amore indepthand complete understandingof it.First ofall, I have

benefitedimmenselybybeingastudentandpassionatereaderofthewritingsof

the great classical natural law theorists found in Austrians Economists. Thesemen, several who predated Adam Smith andwho famously gaveexpression to

laissezfaire in1776,havecomedowntousthroughwrittenhistory illuminating

thedifficultandtheunseenonallthingshavingtodowitheconomics.Inmyown

personalsearchforthetruthintheeconomicandfinancialrealm,Ihavefoundno

parallel and only wish that I had heard about them earlier in my life.What a

difference thatwouldhavemade! InMarch of 2009, just sixmonths after the

economiccrisisoccurred,arareandinterestingarticleappearedinthefinancial

publication, Barrons,entitled Ignoring the AustriansGot Us in ThisMess, by

Randall W. Forsyth. The article pointed out that the Austrian prescriptions tosolve the worlds economic problems were first ignored by the New Deal of

FranklinD.Roosevelt.Thatwasseventyfiveyearsago!Agrimreminderthatthe

refusaltoacceptsoundeconomicthinkinghasgoneoninthiscountryforquite

sometime.Instead,KeynesianEconomicshasnowbecomeentrenchedinsociety

everywhere. Every major university from Harvard on down is vested in this

erroneouswayofeconomicthinking.Acrossparty lines,as substantiatedby the

BushandnowtheObamaadministration,withthe$700billiondollarTARPinlate

2008 and the $787billion dollar stimulus a fewmonths later, the rejection of

sound economics obviously continues. Therefore,without question,oneof theprincipalandimperativegoalsofthisbookisforeachreadertourgentlybecome

acquaintedwithAustrianeconomics.Thisdoesnotimplythatonemustgoback

toschoolandbecomeaneconomicscholar,butrathertotakeupreadingitona

regularandconsistentbasis.Today,withthehelpoftheinternetitiseasy!Only

byseeingtheworldfromtheAustrianeconomicpointofviewisoneabletosort

outanddistinguishgoodeconomicsfrombadeconomics.


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TheScienceofHumanAction

Thereare,ofcourse,manygreatforeignAustrianscholarssuchasJeanBaptiste

Say,EugenvonBohmBawerk,FredericBastiat,CarlMenger,WilhelmRopkeand

NobelPrizewinning economist, F.A.Hayek, toname just a few.AmericanbornAustrianeconomistsincludeLeonardRead,HenryHazlittandMurrayN.Rothbard

withthelistgrowingandtoonumeroustomentionallhere.However,themost

celebrated figure of the Austrian School and writing nearly 100 years ago is

Ludwig von Mises. This great Austrian economic scholar accomplished a feat

never before done in the history ofeconomics. He tookcenturies of scattered

economic thinkingand brought itall together intoone complete fieldof study,

whichhecalledpraxeology,thescienceofhumanaction.Inessence,thisscience

underscoredthatmanalwaysactswithapurpose,neverintheaggregate,but

alwaysasanindividual.Forthatreason,mancannotbeplacedintoaformula,charted on a graph, orplaced into amathematical calculation for any type of

centralized planning or forecasting asmodern day economists insist on doing.

What you learn fromstudying theworks ofMises is that he wasoneof those

individualsof impeccablecharacterthatcomesalongonlyrarely inhistory.One

couldsaythathespenthisentirelifefightinganideawithincivilizationthatwas

false.Infact,hebelievedthisideatobesodelusionalanddestructivethathesaw

it as an evil that no one should give in to. Inmanyobservableways, from his

writingsandlectures,itbecameclearthathewasnotsomuchthinkingofhimself,

butratherlookingaheadconsideringusinourdayandtime,ourkidsandourgrandkids.Thelegacythatheleftbehind,atagreatpersonalcosttohimself,was

theencouragementforallofustojoinintothisintellectualbattleandeventually

defeatthisevilidea.Hebelievedittobeamoralresponsibilitythateachofus,

youandI,havetosociety.

Today, it is the great work of theMises Institute, FEE, and other such private

institutes,fundedwithnoconnectionstopowerfulelites,thathavebecomethe

centersforlearningtheeconomicprinciplesthatourchildrenandgrandchildren

shouldbetaught.Theycontinuetofantheflameoflibertybypublishingscholarlyjournals, publishing books, holding conferences, teaching students and holding

seminars.Becauseoftheireffortsspanningmorethan60yearshereinAmerica,

hundreds of thousands have already joined in the intellectual battle and the

changesarebeingfelteverywhere.Thereisfaith,hopeandexpectancyatthese

independent scholarly institutions that a dramatic change in the political and

sociallandscapeisrightaroundthecornerandcanhappennearlyovernightwhen


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the ideological conditions are right. These institutions continue to provide the

educationalfueltokeepthefireburning.Everyconscientiouscitizenshouldjoin

andbecomeamemberofone.Alongwiththisbook,thesearetheplacestobegin

oneseducational journeyofAustrianeconomicswhileatthesametimestaying

involvedinthisbattleoverthemindsofmen.

TheinfiniteBankingConcept

I acknowledgeothergoodfriends and fellowAustriansas importantsourcesof

help forthewritingof thisbook.Dr.Paul A.Cleveland,Professor ofEconomics

andFinanceatBirminghamSouthernCollege,withoutquestion,is,andhasbeen,

my economics teacher. When we firstmet years ago he was able to surmise

quicklyandaccuratelywhereIwasinmyjourneyintoeconomics.Heprovidedthe

necessary guidance for me to continue to move in the right direction and

continuestodothattothisday.ThereisalsoCanadianbornDr.RichardJ.Grant,

Professor of Economics and Finance at Lipscomb University, who provided

invaluableinsightsintocurrentmonetarypolicyrelatingspecificallytotheFederal

Reserveandthebankingsystem.Withhiswideexperienceofhavingtaughtand

workedintwelvedifferentcountrieshisadvicewasinstrumentalinhelpingwith

missingpiecesIhadnotyetquitefiguredout.Andthen,ofcourse,thereismyco

authorofthisbook,Dr.RobertP.Murphy.Actuallyyoungerthansomeofmyown

children,Robertsenergyandpassionforhisworkmakeshim,inmyopinion,a

hopefulglimpseofthefutureofAmerica.Thereare,ofcourse,manyotherstowhomIoweagreatdealofgratitudeforthethoughtsprovidedinthisbook,but

withmanyapologieswillnotbelistedout.

It is alsoprobablywise forme to pointout that this book has borrowed ideas

quiteliberallyfromothers.Idoubtseriouslyifthereisanoriginalideainit.Thisis

a sort of blanket yet respectful acknowledgement to all the creators of these

ideaswhichIhaveusedwithoutstoppingtogiveofficialcredit.Atbest,Robert

andIhavearrangedwhatwethinkarebrilliantideasinamannertosupportwhat

webelieve.Ifthereaderistakenbythisbookandthelineofthoughtitprovides,thenithasaccomplisheditspurpose.Letmemakeclear,however, thatthereis

no greater idea in this book that provides the catalytic force to empower the

individual,tomovehim totake immediateaction,than the ideaprovidedbyR.

Nelson Nash and his Infinite BankingConcept (IBC). Therewill bemore to say

aboutNelsonandIBClater,however, IwillsaynowthatitwasNelsonwhofirst

suggestedIwritethisbook.WitheacheconomicarticleIwroteanddistributed


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throughtheinternet,hisencouragementbywayofa personalphonecallwould

follow.Iwouldhaveneverconceivedoftheideatowriteabookcontainingmy

thoughts had it not been for his urgings, at least not in the direction he kept

pushingmetowards.Nelson,alongtimestudentofAustrianeconomicsspanning

52years,counseledmeandspokewithmeaboutthementoringhehadreceived

earlier in his life from LeonardRead, founderofThe Foundation forEconomics

Education.Theideasforhisbook,TheInfiniteBankingConcept,hadcomedirectly

fromAustrianEconomics.ItwasthesesameconversationswithNelsonNashthat

IwouldinturnbegintosharewithRobertMurphy.Slowly,overaperiodoftwo

years,Robertbecameconvincedandconvictedwithwhathewashearing.Hisfirst

momentofrealclaritycameonedayoverlunchwithPaulCleveland.Roberthad

just finished reading Nelsons book and by the time lunch was over Robert

understoodthesignificanceofwhatthebookwasexplainingandsoonthereafter

implementedtheprocessforhimself.

TheSoundMoneySolution

ThedayRobertMurphycommittedtocoauthorthisbookwithmeisadayIshall

never forget simply because of the unusual and unexpected way in which it

happened.However,itispreciselybecauseofthewayithappenedthatexplains

and proves the explosivevisionthe ideas in this book produce.To recount this

specialdayandbegintoputitintoproperperspective,keepinmindthatupuntil

thenRobertandIhadbeenvigorouslyinvolvedinnumerousconversationsabout

the humanpredicament in todayseconomicenvironment.Robert, asa scholar

and expert inAustrian Economics, couldexplainwhy thingswere theway they

were academically. He obviously could expound on these problems prolifically

having written several books and study guides to Mises Human Action and

MurrayRothbards Man, Economyand State; not to leave out the countless

articles for various independent libertarian think tanks. However, thoroughly

explaininganddiagnosingtheproblemofournationandourworldwasnot the

main issue. What everyone desperately wanted to know was how to fix it!

Additionally,webothunderstoodtheSoundMoneySolutionwellandbelievedin

itknowingthatitwasanchoredbysolidAustrianthinking.Weknewall toowell

what was required to effect the kind of national change the Sound Money

Solution called for, but the problem was that the Sound Money Solutions

required stepswerehighly unlikelytoever be implemented andwebothsadly

knewit.EvidenceforthiswasinthefactthattheSoundMoneySolutionwasput

forthdecadesagoandyet,inspiteofalloftheadvancesandgrowththeAustrian


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What Robert and I began to do next was to get honest with each other. We

agreed thatour individual concernwithregards towhatweareexperiencing in

ourpoliticalandeconomicaffairscurrentlycouldbesummedupinourknowing

whatilleffectsallthiseconomicupheavalishavingonpeoplesabilitytomakealiving.Wedidnotshyawayfromthisreality.Wehadseveralveryindepthand

personal discussions about this concern. We knew that for most all of us in

America,theneedtobeabletomakealivingisandalwayshasbeenacrucialfact

of life. It is the business from which we never retire. In fact, it is difficult to

imagineanyhumanbeingwhoisnotpreoccupiedwiththiseconomicendeavor.

Inwhatevermannerwetrytoexplainoursociety,orourgovernment,intermsof

thepast,presentorthefuture,wecannotdoitandignore "economicman"and

hisinnateneedtomakealiving.

And then it happened! All of a sudden the entire theme of this book, from

beginningtoend,hitRobertlikea2by4acrossthehead.Hiseyeswidenedwith

utteramazementandheexclaimedwithexcitement,Thats it!Momentslater

headmittedthatthevisionhithimwithsuchforcethathehadnotevenseenit

coming.IthadneverdawnedonhimuntilthatverymomentthatwhatI,Pauland

Nelsonhadbeentalkingaboutallthistimewasactually steptwooftheThree

Steps of the Sound Money Solution,Privatized Banking! However, the

spectacularandunbelievablepartaboutitwasthatanindividualcouldactuallygo

intoprivatizedbankingrightnow!Therewasnoneedtowaitongovernmenttochange.TherewasnoneedfortheSoundMoneySolutiontobeacceptedandput

forthintopublicpolicy.Privatebankingcouldbedoneimmediatelyanditcould

be done by virtually anyone! Our creative energy suddenly soared and the

missing incentive we had been searching for suddenly became clear and

apparent.Theanswerthemissinglink,wassimplytheconnectingofthisinnate

needwithinman,theneedtomakealiving,withtheSoundMoneySolution.The

key was step two of the Sound Money Solution, the business of banking,

privatized banking, the most profitable business in the world and it could be

implementedrightnowbyanyindividualcitizen!


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The Sound Money Solution

1. Link outstanding Dollars to Gold: Creates propertyrights to sound money payable upon demand 100% Reserve Banking

2. Privatize Banking: Government money monopoly abolished

3. Close Central Bank: Size and Expense of Federal Gov twould decrease, taxes go way down, savings and production go up.

L.CarlosLara

Nashville,Tennessee

January19,2010


17/17

synopsis how privatized banking really works

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