Accountability in our Banking Systems

For our government and the people to regain control of the nation’s economic resources and establish accountability in our banking systems, I will work toward legislation that will:

  1. Eliminate the free access of Banks to fiat money created by the bank-owned Federal Reserve System which is based on treasury notes and the credit worthiness of the Federal Government (shifting sand).
  2. Require banks to borrow the money they need for operations from a federally-owned Federal Reserve System backed by the Assets and Capital of the Federal Government (solid rocks) and based on the credit worthiness of the banks.
  3. Assure that money entering our economy from other sources is backed by tangible assets (solid rocks).
  4. Break up the consolidated holding companies with commercial bank, investment bank, securities firm, and insurance functions under one roof into their separate entities, and force these separate entities to compete in their own individual markets, and ensure that individual depositors and investors can decide which of these markets their money will be invested in.
  5. Establish guidelines that ensure that all industrial sectors of the national economy receive the necessary money and resources from the federally-owned Federal Reserve System to sustain their business operations and absorb their quantified growth without inflation.
  6. Establish guidelines that ensure that depositor’s accounts at banks are not adversely impacted by unscrupulous bank tactics and excessive interest rates.
  7. Establish guidelines that ensure that low-income individuals and individuals with relatively low credit scores have equal access to loans to support their families, provided they can meet established criteria that is fair, consistent and available to everyone.

Click on this, Accountability in our Banking Systems link to access a PDF file that provides a detailed discussion of this issue.

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