The Solution To Our Economic Dilemma
by
Pastor Robert Bruce Record
Taken from The National Message News and Comments,
March-April 1993 issue
It stands to reason that we can never hope to solve any problem with which we might be confronted if we begin on a mistaken premise. All of which leads us to the antics of our leaders in Washington who, for some years now, have been going up one blind alley and down another as they have sought in vain to solve the many economic evils which afflict our country. It is passing strange that otherwise intelligent men have persistently and insistently refused to admit of the folly of either a nation or an individual trying to borrow themselves out of debt into prosperity. Perhaps the reason lies in the fact that many of the men in Congress "have their finger in the pie" so to speak, and are profiting off the money system that now threatens us with bankruptcy, and therefore do not want to do anything to change it.
I can but wonder how many of our national leaders have ever taken the trouble to ask themselves why it is that our national debt has arisen from about $2 billion in 1913 to something over $4 trillion in 1993? The reason is obvious. In 1913 Congress turned its constitutional right to issue our nation's money to a private money monopoly that profits off of debt. For nearly eighty years now, we have been operating our country on debt money. It has been a program of borrow and spend. The more we borrowed, the deeper we went into debt until today the interest on that debt is approximately $250 billion a year, and growing by leaps and bounds. While the money lenders have grown sleek and fat, the American people have grown gaunt and feeble.
For the past 70 years our nation has experienced periodic recessions and depressions. The reason is that once Congress spent the money it had borrowed, and we were operating on a short supply, we had a recession. Once congress raised the debt limit and borrowed some more, a temporary period of prosperity returned. And nothing is more obvious at this present time than that we are suffering from a short money supply. Cutting back on spending, or lowering interest rates, is not a cure. It simply makes what money is left in circulation last longer.
With a new administration in power and a new President in office who has made promises he cannot fulfill, many are living in hope of a better day. We have been told by the news media that things are looking up, but what the news media has not given much publicity to is, that congress raised the debt limit and borrowed close to $450 billion dollars. Some of this has trickled down to a few of our people giving them a new lease on life; but it will be short-lived.
As things now stand, we are the helpless slaves and pawns of the moneylenders, and unless, and until Congress breaks their yoke from off our necks, we will be saddled with a debt we can never reduce, or pay off, and national ruin stares us in the face.
The question facing us is this. What is the solution to this untoward financial situation? Is there any? There is no solution if we continue to look to the money experts(?) who got us into this mess in the first place. They are part of the problem. For the past 70-80 years the American people have been brainwashed on the notion that the only way for the nation to bring money into circulation is to borrow it from the banks. And under the Banking Act of 1913, that is the only way. But the alternative to borrowing from the Fed lies in the Constitution itself which declares that Congress shall control the issuance of our nation's money, and they can issue it against the same credit used by the banks, but without interest and debt. As long as our nation prospers and produces what we, the people, can profitably use, Congress (which is really "we the people") can give us what we need and then tax it out each year. But as things now stand, we are being taxed without any money being issued with which to pay it.
Money is not truly wealth. It is only a token of wealth--something sanctioned by the government to facilitate the transfer of wealth--the productivity of we the people, from producer to consumer. It has no intrinsic value; but if properly issued by the government, it is redeemable at its face value.
Now the question is, Where did the banks get all the money which they have so graciously loaned to the American people? The banks are money creators. They create money at the time of the loan, which loan is secured by a mortgage in the form of U.S. Bonds. Most of this loan is simply credit against which checks are written. The Federal Reserve Notes which we use as money are simply tokens of debt.
Now if the Fed loaned us money which they did not have, but issued it against the wealth of the nation, then our debt money system is nothing but a legalized fraud. The Fed. through its control of our nation's money, has used the power at their disposal to impose upon the American people a burden
pf interest-bearing debt that is becoming unbearable, and it is time for a change.
But how shall we remove this burden of debt that hangs like a millstone around our neck? the answer is quite simple. Debts can be canceled. Debts can be forgiven. Since the banks have loaned us money they never really had, they should be brought to the bar of justice and deprived of their power to exploit and enslave the American people. Lawful and debt-free money should then be issued to take the place of the vacuum left by interest bearing debt. Unfortunately such action is not about to be taken. The powers that be are not about to give up the strangle hold they have on this country without a fight, and there are many who will go to the aid of the moneychangers.
The light at the end of the tunnel lies in the fact that God has decreed the demise of this Babylonian debt money system. It must collapse and be removed preparatory to the Kingdom Age. "With violence," says John in Rev. 18:21, shall Babylon be thrown down.
I can but wonder how many of our national leaders have ever taken the trouble to ask themselves why it is that our national debt has arisen from about $2 billion in 1913 to something over $4 trillion in 1993? The reason is obvious. In 1913 Congress turned its constitutional right to issue our nation's money to a private money monopoly that profits off of debt. For nearly eighty years now, we have been operating our country on debt money. It has been a program of borrow and spend. The more we borrowed, the deeper we went into debt until today the interest on that debt is approximately $250 billion a year, and growing by leaps and bounds. While the money lenders have grown sleek and fat, the American people have grown gaunt and feeble.
For the past 70 years our nation has experienced periodic recessions and depressions. The reason is that once Congress spent the money it had borrowed, and we were operating on a short supply, we had a recession. Once congress raised the debt limit and borrowed some more, a temporary period of prosperity returned. And nothing is more obvious at this present time than that we are suffering from a short money supply. Cutting back on spending, or lowering interest rates, is not a cure. It simply makes what money is left in circulation last longer.
With a new administration in power and a new President in office who has made promises he cannot fulfill, many are living in hope of a better day. We have been told by the news media that things are looking up, but what the news media has not given much publicity to is, that congress raised the debt limit and borrowed close to $450 billion dollars. Some of this has trickled down to a few of our people giving them a new lease on life; but it will be short-lived.
As things now stand, we are the helpless slaves and pawns of the moneylenders, and unless, and until Congress breaks their yoke from off our necks, we will be saddled with a debt we can never reduce, or pay off, and national ruin stares us in the face.
The question facing us is this. What is the solution to this untoward financial situation? Is there any? There is no solution if we continue to look to the money experts(?) who got us into this mess in the first place. They are part of the problem. For the past 70-80 years the American people have been brainwashed on the notion that the only way for the nation to bring money into circulation is to borrow it from the banks. And under the Banking Act of 1913, that is the only way. But the alternative to borrowing from the Fed lies in the Constitution itself which declares that Congress shall control the issuance of our nation's money, and they can issue it against the same credit used by the banks, but without interest and debt. As long as our nation prospers and produces what we, the people, can profitably use, Congress (which is really "we the people") can give us what we need and then tax it out each year. But as things now stand, we are being taxed without any money being issued with which to pay it.
Money is not truly wealth. It is only a token of wealth--something sanctioned by the government to facilitate the transfer of wealth--the productivity of we the people, from producer to consumer. It has no intrinsic value; but if properly issued by the government, it is redeemable at its face value.
Now the question is, Where did the banks get all the money which they have so graciously loaned to the American people? The banks are money creators. They create money at the time of the loan, which loan is secured by a mortgage in the form of U.S. Bonds. Most of this loan is simply credit against which checks are written. The Federal Reserve Notes which we use as money are simply tokens of debt.
Now if the Fed loaned us money which they did not have, but issued it against the wealth of the nation, then our debt money system is nothing but a legalized fraud. The Fed. through its control of our nation's money, has used the power at their disposal to impose upon the American people a burden
pf interest-bearing debt that is becoming unbearable, and it is time for a change.
But how shall we remove this burden of debt that hangs like a millstone around our neck? the answer is quite simple. Debts can be canceled. Debts can be forgiven. Since the banks have loaned us money they never really had, they should be brought to the bar of justice and deprived of their power to exploit and enslave the American people. Lawful and debt-free money should then be issued to take the place of the vacuum left by interest bearing debt. Unfortunately such action is not about to be taken. The powers that be are not about to give up the strangle hold they have on this country without a fight, and there are many who will go to the aid of the moneychangers.
The light at the end of the tunnel lies in the fact that God has decreed the demise of this Babylonian debt money system. It must collapse and be removed preparatory to the Kingdom Age. "With violence," says John in Rev. 18:21, shall Babylon be thrown down.