Representative Vows to OccupyCONGRESS
The Occupy movement coincides fortuitously with bold financial legislation introduced earlier this year. HR 2990, the National Emergency Employment Defense (NEED) Act, proposes nationalizing the US central bank, the Federal Reserve. What this means for the dollar is that it will be un-privatized, changing from a debt-based currency to a debt-free one overnight. The monetary system is then geared to produce public wealth rather than bankster wealth.
To anyone concerned about the national debt, austerity cuts, unemployment, or the extreme concentration of wealth and power among the elite, the NEED Act is what you have been waiting (and protesting) for.
Don’t confuse this proposal with the specious calls to replace “fiat” money with gold (commodity) currency. The problem is not fiat but rather debt-based currency, controlled by and for banksters. The NEED Act does “end the Fed” as we know it, but achieves this the right way: with sovereign, debt-free Treasury notes. Gold currency, on the other hand, is an elitist scheme which would devastate the already reeling middle class.
Under HR 2990, the dollar is to be issued by US Treasury as a public asset and spent into circulation for the public good. This will allow government to invest in large-scale projects without borrowing or adding to the national debt. Millions of unemployed can be put back to work rebuilding and expanding America’s infrastructure. Debt-free money could also clear the way for single payer health care — a reform which would save lives and money while boosting the economy.
The author of HR 2990, Dennis Kucinich, has pledged his support for the Occupy movement and vows to OccupyCONGRESS: