Would allowing the Treasury the ability to directly print the currency open the door to political corruption in Congress—wasn’t that a main reason why the Fed was created?
Yes, that is one reason why the Fed was created. Yes, allowing the Congress (through the Treasury) to manipulate the currency supply could cause havoc. However, NESARA discourages such mischief. Under NESARA, Congress is largely able to borrow only currency already in circulation. Unlike today’s system, under NESARA no mechanism would exist for Congress to easily create currency out of thin air. Although the majority of the currency in circulation today is electronic digits and paper, the concept in practice works the same as if only actual coin were in circulation. Currency creation would be reserved largely to the people at the local level. NESARA restores respectability to the word “borrow.
Yes, that is one reason why the Fed was created. Yes, allowing the Congress (through the Treasury) to manipulate the currency supply could cause havoc. However, NESARA discourages such mischief. Under NESARA, Congress is largely able to borrow only currency already in circulation. Unlike today’s system, under NESARA no mechanism would exist for Congress to easily create currency out of thin air. Although the majority of the currency in circulation today is electronic digits and paper, the concept in practice works the same as if only actual coin were in circulation. Currency creation would be reserved largely to the people at the local level.
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