The U.S. financial system should be completely nationalized.

Economic opportunity has been America’s calling card and it should be restored.  Equal access to economic opportunity depends largely on access to capital.  Under the current financial system the criteria for access to capital have been obscured and lack uniform application.

By nationalizing the financial system the government can realize equality in economic opportunity for all its citizens. Until our currency and monetary policy are fully under government control, equal protection of the law cannot occur in access to opportunity.

It’s time we based America’s currency on her assets instead of the manipulations of international bankers. Our currency has not relied on precious metals for its basis in many years.  Now is an appropriate time to abandon outsourcing the control of our currency to the private Federal Reserve Bank.  That model is broken and it is not America’s job to repair it for them.

Bretton Woods is obsolete.

Would you rather have a million dollars owed to you by a homeless person or $100 owed to you by a billionaire?  Clearly, no credible formula for an exchange rate on those debts can be created.  In a sovereign nation the manipulation of our currency is a national security issue.  We should not allow our currency to be tied to values set by multinational organizations - especially those with member nations that do not share the values declared in our Constitution.

America should pay every outstanding debt it owes immediately and then recapitalize based on its assets.  If America needs a loan for a budget shortfall we will be happy to accept our own currency.  After all, it will be based on our own assets and not the interest on a stack of gold in Rothschild’s bank - which also means we will not be charging ourselves the $29 billion in monthly interest we now pay.

President Kennedy was the last President to print interest-free dollars based on our assets.  And whether Executive Order 11110 was intended to reduce the influence of the private Federal Reserve or not, I submit it is certainly time to do so now.  We must modernize the United States’ financial system and monetary policy to eliminate the tax of Federal Reserve interest from the citizen burden.

Of course, a national recapitalization cannot occur without a complete appraisal of all government assets.  After all, budget deficits and national debt are only half of the story; a balance sheet is worthless without the asset entries.  With a full accounting of our assets and outstanding dollars we can share our self-determined net worth.  Other countries may agree with our dollar-to-asset allotment or not, but we will have established one.

And what might 640 million surface acres of land and 700 million acres of subsurface mineral rights be worth?  That’s a full 32% of the total land surface of the United States.  What is the value of a facility like Grand Coulee Dam, the fourth largest producer of hydroelectricity in the world?

Besides land and infrastructure, our list of assets includes a national interstate system, military equipment and machinery, an entire fleet of ships, the most advanced aircraft in the world , an array of public buildings and on and on.  All of this and much, much more we own through the proxy of our government.  What better way to instill confidence in America than to remind the citizens of their real net worth.

A financial system based on national assets would not only attach real value to our currency, but provide a logical basis for expanding and contracting the amount of currency in circulation.  It creates a new value added to public works projects and provides a comprehensible basis for national pride and conservation.

Yet discussions of federal deficits and the national debt must be subordinate to the application of innovation in this time for reinventing America’s future.  We know a life-saving operation cannot be rejected on the basis that its cost will create too much debt.

The effort to create efficiency from free market capitalist exploitation failed and its theoretical foundation collapsed. America’s leaders must now turn from the question of how much we are spending and instead focus on the question of what value are we creating.

With an equitable financial system that’s based on an asset-back currency, we can take deliberate steps into a new era of value-added capitalism. An era when leaders at all levels compare, like report cards, the appraisals of accomplishments by and for their citizens.  An era when innovation replaces exploitation as the engine of capitalism, and monetary policies reflect the principles of our Constitution.