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Howie Hawkins on Budget & Economy

Green Challenger

 


Socialize big banks; manage the national currency

The national currency is a vital common resource that should be managed in the public interest. We must nationalize the Federal Reserve System as a Monetary Authority in the Treasury Department. The Monetary Authority will create all national currency (cash and electronic) free of any associated debt. New money will be credited to the account of the federal government as additional revenue to be spent into circulation in the economy in accordance with the federal budget. Banks will be prohibited from creating new money as loans. Banks will borrow or raise money for lending from savers and investors, including the Monetary Authority. People and businesses will borrow from funds in the banks' accounts.

Socialize the big banks: The allocation of investments according to an economic plan requires a significant sector of public banks.

Source: 2020 Presidential Campaign website HowieHawkins.us , May 19, 2019

Increase social services while decreasing military & police