Bill Bonner Recent Info letter

Bill Bonner has had some very interesting comments recently about what he calls the 'Chicago Plan' that was considered as far back as the thirties. It concerned a debt based or backed currency that was no longed controlled by the Fed banks. Instead, they would no longer be able to create money simply by issuing bonds and loaning money into existence through fractional reserve methods. The Chicago Plan would give that right only to the government through SPENDING, thusly creating debt.

It sounds like more fiat flimflam to me, but, then of course, someone was wise enough to ditch this nonsense 9 decades ago ,Let's hope their replacements have some say once more. Our founders had it right...the constitution regulated treasury alone should have the exclusive power to coin our money. Spending into existence by our oft times wacky politicians, is pure madness.


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