The Amero is coming. What is the Amero you ask? The Amero is a new currency that is based on a new international bank and the North American Union. It is a currency that will compete with the dollar as legal tender in Canada, the United States, and Mexico. This new bank is already in existence, so don't think this is a conspiracy "theory" WATCH
The downturn of our economy is precipitating a need for the Amero as the dollar gets weaker and weaker. We are going to see a need for it, but there is a BIG problem, and that is it is unconstitutional and seriously undermines United States soveriegnty. What I propose is something much better AND will have no adverse impact on our economy. In fact it would stimulate it like nothing else. What is that you say?
THE SOCIAL SECURITY BANK
The more I contemplate this idea, the more I like it. It would be politically correct, bipartisan, and have popular support. Not only that, it would lower the federal deficit and repair Social Security at the same time. The only problem is overcoming ignorance from the masses and lack of ignorance from the banking lobby.
In essence it would be a chartered Central Bank that has only one client but tons of investors. It would save Social Security while at the same time lowering the National Debt. The Federal Reserve would have necessary congressional oversight, and the dollar would begin to rise in value.
The chartering of the bank would include rules removing the ability of the Federal Reserve to buy Treasury Securities and requires them to Issue Federal Reserve Securities to borrow the money from the Social Security Bank that it loans to other banks. This new bank would be directly managed by the Congress of the United States, thus making it legal under the Constitution. All the Citizenry can invest in this bank by buying retirement "Social" securities called FEDERAL RESERVE BONDS. The money we inject into this bank will buy these bonds from the Federal Reserve.
Along with the bill chartering this bank new rules will mandate all banks including the Federal Reserve to raise their reserves at a steady rate while keeping the discount and federal funds rates frozen at 5%. This intrest rate rule would end when reserves reach 100%. This will build in a demand for loans from the Federal Reserve, and thus demand for the Federal Reserve to issue Fed Securities to gain this needed money. The Social Security Bank will have NO reserve requirements except for the Federal Government demand deposits. Congress can use tax money to buy Fed bonds if needed. All interest income from these bonds would go into the Treasury.
I haven't gone to college, haven't taken any economics courses, but I have read alot about our monetary system. This looks viable and practical to me, but would gladly take any criticism of it. Am I nuts?