Most credible economists today agree that America needs a stimulus package. It appears as if we will get a watered-down version of one very soon. The package needs to be a lot bigger than it is. But, critics cry, what kind of debt will we be leaving our children? What happens when China stops buying up our debt? Debt is indeed a serious concern, but not as great as the looming threat of another Great Depression.
But this is a false dilemma. It is possible to solve both problems in one fell swoop. The problem lies in our monetary system. Ever wondered why our government has to borrow its own money at interest? The power to create money is a power as great as any branch of government, and sometimes greater than all three branches combined. Therefore, by having our central bank partially privatized, as is the case with the Federal Reserve, the government has abdicated this power to the bankers, and allowed itself to be held hostage by this power.
