Presenting the American Monetary Act (as of July 18, 2009)
©2009 American Monetary Institute, P.O. Box 601, Valatie, NY 12184 firstname.lastname@example.org 518-392-5387 “Over time, whoever controls the money system controls the nation.”Stephen Zarlenga, Director
Dear Friends, The World economy has been taken down and wrecked by the financial establishment and their economists; and by their supporters in the media they own, and even by some in the executive and legislative branches, in the name of “free markets” and insatiable greed. Shame! Shame on them all! The American Monetary Act (the “Act”) is a comprehensivereform of the present United States money system, and it resolves the current banking crisis. “Reform” is not in its title, because the AMI considers our monetary system to never have been adequately defined in law, but rather to have been put together piecemeal under pressure from particular interests, mainly banking, in pursuit of their own private advantage, without enough regard to ournation’s needs. That is the harsh judgment of history as made clear in The Lost Science of Money, by Stephen Zarlenga (abbreviated LSM).* That book presents the research results of The American Monetary Institute to date and this Act puts the reform process described in Chapter 24 into legislative language. Chapters 1 thru 23 present the historical background and case studies on which Chapter 24 is based.We recommend serious students of our money system read the book now, and suggest that those who’ve read it read it again. This Act has been in preparation since December 2004 and was placed on our web site for public criticism in February 2006, and concurrently released in Philadelphia at the Eastern Economic Association Conference, for general comment. It draws from and improves a previousproposal known as “The Chicago Plan,” which was advanced by Professors Henry Simons, Irving Fisher and other leading economists in the 1930s in response to the wreckage of the Great Depression, which resulted from our poorly conceived banking system. This Act is more comprehensive and includes improvements to infrastructure, including the human infrastructure of health care and education. While TheAmerican Monetary Institute is responsible for its present form, the Act is based on Aristotelian monetary concepts in existence since at least the 4th century BC and employed successfully in a variety of monetary systems since then, ranging from democratic Athens to republican Rome. It is not merely a theory its main elements have a long history of successful implementation in major societies aroundthe world, including the American Colonies and the United States. These concepts enabled us to first establish the U.S. and then to maintain it as one nation. The current text of the Act (continuing to be developed) is presented on the right side of each page. On the left appears an explanation of the terminology and why it’s necessary. A background explanation is presented after each Title. Thenthe next Title is considered. This is still an open process – suggestions and criticisms are welcomed. This five page form of the Act is a structural summary, which gets more detailed and fleshed out by legislative aides preparing it for introduction into Congress as a Bill. The following brief summary: The Need for Monetary Reform serves as a preface to the American Monetary Act. You are invitedto join in this citizen’s movement and demand for monetary reform! Attend the AMI Monetary Reform Conference held annually in Chicago at Roosevelt University each September. Sincerely, Stephen Zarlenga Director, AMI * Please see The Lost Science of Money book for the case histories that demonstrate in detail, the points of this pamphlet. 1
The Need for Monetary Reform
Monetary reform is...