- In order to solve the problem, the government must take back the right they have given the private banks to issue the country's money supply. The benefits of this one reform would be tremendous. Money could be put into circulation DEBT AND INTEREST FREE. This would mean that the government could pay back its debt and save the people $40,000,000,000+ in interest payments, therefore $40,000,000,000+ in taxes. Furthermore, every time the G.N.P. would increase, the government could issue new money to the amount of the increase of goods and services. This means that many of the government services could be provided without taxation. The reduction in taxes would not only stop inflation, but reverse it.
- Putting the banks on a 100% reserve would stop the private banks from creating money. What is more, the banks would have to cash in their bonds as their reserves would be increased. This would reduce the national debt tremendously without it costing the government a single dollar, because the government would pay for the bonds with money that cost the Bank of Canada nothing except the cost of printing.
THOMAS EDISON said, "It is absurd to say our Country can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the People. If the currency issued by the People were no good, then the bonds would be no good either."