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GREENS: Greenbacks, Cure for Global Emergency

GREEN PARTY OF THE UNITED STATES

http://www.gp.org

 

For Immediate Release:

Friday, March 3, 2020

 

GREENS: Greenbacks, Cure for Global Emergency

 

WASHINGTON, D.C. -- Green Party leaders say the greed driven financial industry has driven the world into a multi-dimensional global emergency and its only response is to find ways to profit off of the crises. When the big banks refused to help the nation fight against its dissolution in the Civil War Greenbacks came to the rescue and can do it again. Greenbacks are debt-free government money issued as an asset, not a debt, and today offer the safest alternative to getting the nation and the world out of debt and through this existential crisis. It is time for the nation to reclaim its Constitutional authority to create the money required to fight Covid-19 as well as the enormous climate and economic crises now upon us. The hegemony of the global financial industry and its private for-profit money system must now be replaced with a debt-free public money system in order to fund an effective response world-around.

 

Greens note that legislation to change the monetary system was written, vetted and introduced in 2011 as the National Emergency Employment Defense Act which was never allowed out of the banking committee. The time is now to take these important steps;

 

·       Replace the private Federal Reserve debt-money system with a public asset money system, as per the NEED Act, to align the nation’s finances with the Constitution.

·       Congress must issue debt-free public money to fund an effective response to the rapidly spreading Covid-19 Virus to protect the health of the world.

·       Congress must issue debt-free public money (overt monetary financing) for the general welfare of the people saving the livelihoods of American families not in the top 1%.

·       Prevent bailouts of private financial institutions world-around at taxpayer’s expense as was done in 2008 and which was hidden from the American people to protect the global investments of the top .01%.

·       Stop the Fed from injecting trillions of dollars into financial markets at taxpayer’s expense as it has been doing without Congressional or Presidential authorization.

 

The great value of Greenbacks was that they were not created as bank debt, but were spent into the economy for needed goods & services. Greenbacks are permanently circulating money that banks collect no interest payments on, which is why they hated Greenbacks and tried to undermine and prevent more from being issued. Greenbacks can again save the day funding healthcare for all and the Green New Deal, creating living wage jobs while replacing fossil fuels and ending the wars. The time is now.

 

Contact: Banking and Monetary Reform Committee – BMRC@gp.org

Rita Jacobs GPMI, Howard Switzer GPTN, Sue Peters GPNY, Mary Sanderson GPWI

 
 
Howard Switzer
GPTN  BMRC