A new monetary policy needed

Most of what is proposed here is already in practice

What about the rest? All new debt is being used to create monetary expansion. Therefore, to stop this, and/or at least slow it down, begin to issue "greenbacks" in order to finance government.

We all are probably aware by now of the efforts to shrink government expenditures. But not all excessive expenditures can be removed all at once. An adjustment time is needed. Therefore, whatever can't be cut now, can be financed with greenbacks. One law may need to be set aside. It is the one that stopped Lincoln's financing the Civil War with greenbacks. The central banksters of that time put an end to that. Time to put an end to the banksters. If not a complete end, at least a sharp curtailment of their power.

In reality, the current debt will have to be serviced. To end it all in one fell swoop will risk outright rebellion. Even a curtailment of their power will be very strongly opposed. Once obtained, power is unwillingly given back.

Then, how to do this? Instead of allowing the Federal Reserve Bank to set interest rates, do the following: 1) Do not set the interest rates, allow them to float 2) by doing this, allow the market to set interest rates. How? Through the current Open Market operations. There will be an interest rate that will support current commodity prices. The market will seek that equilibrium point, and the interest rates will fluctuate according to market conditions. These conditions will not be entirely based upon a commodity like GOLD. Instead, as broad a collection of commodities as possible. These will make up an index, and the target price of that index will be the goal of policy.

But what happens to the Federal Reserve? Eventually, it will have to go. For the moment, it's services will have to be unwound. It's not clear how to work out how to remove ALL public debt. Therefore, some will have to stay until such time that it can be phased out. But no more debt should be issued. If there's a Federal deficit, it will have to be financed by greenbacks. NO NEW DEBT FINANCING through debt creation. Old debts will be serviced and paid off gradually. Interest payments will decrease over time as debt is retired.

Instead of supporting a debt servicing arrangement by setting interest rates, the rates will set monetary policy according to market conditions. There will be a gradual weaning off the debt creation scam that is swamping our financial structure. Eventually, the debt monster will lead to catastrophe, and will have to end at some point. The sooner the better, but people are going to have to get used to the idea. After all, most people don't understand how monetary policy works anyway. The public will support it if they are educated to understand how it works, and why it needs to change. It needs to change, because the banksters are stealing our freedom and sovreignty away from us. Interest expenses are tribute to their tyranny. End that tribute or lose all freedom.