We need to kick the money changers out of our country. Andrew Jackson did it when he was president. Now the money changers have the Federal Reserve System in place. It is privately owned and unconstitutional. Only congress has the right to coin money. They delegated that responsibility to a privately owned monopoly. Andrew Jackson should be rolling in his grave.
Everybody should stress the need to raise the reserve requirements of banks. It would help avoid bank failures and reduce the centralized control the Fed Reserve has on our economy. Look where this centralization has gotten us. We are at the mercy of the powerful few who run our economy like counterfeiters and operate with impunity.
Reserve requirements in the USA are 10% and that is far too low. I suggest writing our congressmen and make the case for slowly raising it to 20%. What are critics going to say, 20% is too high? They would lose that argument. In the future we could push for reserve requirements to be raised even more.
Banks will not even lend money right now. How could raising reserve requirements hurt anything if they are hoarding the reserves anyway? Somebody should ask Tim Geithner what percentage of reserves the average American bank is holding right now. 90%? 95%?
I'll bet if we threatened to raise reserve requirements enough they would loan the money. We need to pressure our elected representatives to do that. Screw the money changers. They have been screwing us for far too long.