PLEASE NOTE: This is not a fully working petition, yet. That is, there are not yet recipients. The petition function in OEN is still being evaluated by editors like me and the technical staff at OEN. If you want to support this cause, please sign the original petition here.
Money should belong to the people, not the banks, and should be
issued in sufficient quantity to meet the productive capacity of the
nation, not withheld from circulation by banks that did nothing to
deserve it.
Congress is empowered by Article 1, Section 8, of the United States Constitution to produce debt-free United States Notes
at any time, for any reason, and actually DID create them under
president Lincoln (the original "Greenbacks" - $450 million) to defeat
the South during the Civil War, when New York City banks wanted 24-36%
interest.
This is money that would not have to be borrowed (thereby avoiding
any debt-ceiling issues), taxed to pay for, or backed by Gold. It is
legal tender, acceptable for all payments, including taxes.
This new money need NOT be inflationary if dedicated towards those areas of society which are in deflation, such as infrastructure.
U.S. Notes would function as a "Public Option for Money."
A bill sponsored by Representative Dennis Kucinich and John Conyers, the N.E.E.D. Act, HR 2990
(formerly HR6550), would produce U.S. Notes, specifically for
infrastructure, Social Security, and universal healthcare, and make the
Federal Reserve a department under Treasury - for the first time, a true
branch of government.
Even if you don't believe in the full measure of HR 2990, our current
debt-ceiling crisis, which comes on the heels of the Federal Reserve
pumping $16 trillion into the banking system, leaving most Americans struggling with over 9% unemployment, and asking "Where is my bailout?" points to the need for a real, meaningful - and immediate - solution that would provide jobs and opportunities.
United States Notes were our country's longest-living currency,
lasting until the Mid-1990s. They were accepted everywhere and were
widely embraced when they first came out in the late nineteenth
century. It is time again for America to take back its sovereign right
to "coin Money" - Article 1, Section 8 of the U.S. Constitution.
Support the True Greenback, United States Notes!
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