American Monetary Institute

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The American Monetary Institute (AMI), according to their website,is "a publicly supported charity, founded in 1996 to present the results of our research in a manner understandable by the average citizen; leading to monetary reforms which bring forth a greater level of economic justice and a more equitable and efficient functioning of government."[1]

Monetary Reform

The American Monetary Institute advocates for monetary reform closely modeled after the 1930's Chicago Plan devised at that time at the University of Chicago. AMI proposes a plan, through the American Monetary Act, comprising three basic elements:

"First: It incorporate[s] the Federal Reserve banks into the U.S. Treasury where money will be created by the government as money, not as private interest-bearing debt; and will be spent into circulation to promote the general welfare and monitored to be neither inflationary nor deflationary."

"Second: It removes the banks privilege to create purchasing media through the fractional reserve system. Fractional reserves are elegantly ended by the U.S. government initially loaning banks enough money at interest to bring reserves to 100%, converting all the past monetized credit, into U.S. government money. Banks then act as intermediaries accepting deposits and loaning them out to borrowers, what people think they do now."

"Third: It Spends newly created money into circulation on infrastructure, including education and healthcare needed for a growing society, starting with the $1.5 trillion that the American Society of Civil Engineers estimate is needed for infrastructure repair; creating good jobs across our nation, re-invigorating local economies and re-funding all levels of government." [2]


AMI Members and Associates

[3]

Web Site: http://www.monetary.org/


Articles and resources

Related SourceWatch articles

References

  1. About, Retrieved April 23, 2013.
  2. The 1930′s Chicago Plan Vs. The American Monetary Act, Retrieved April 23, 2013.
  3. Bios," Retrieved April 23, 2013.

External resources

External articles


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