Monetary Reform Task Force

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Monetary Authority Membership List Posted

Posted by dr.ron45 on November 14, 2012 at 5:40 PM

The countdown to the Fiscal Cliff is on! Awakening the President and the Congress to the GREEN MONEY option is a huge task, one that I cannot accomplish on my own. Your help is needed, and it is so easy. Just send out the Greenback Renewal Act and the White Paper showing the rationale behind it to your Congressmen and Senators, the President, and the would be members of the Monetary Authority should the proposed act pass. This committee is comprised of the people in Washington DC who are most responsible for fiscal and monetary issues anyway, so it is a good place to start. The names of the individuals who would serve on the Monetary Authority are listed on the new page of that name for your convenience.

 

One of the most prevalent objections raised to GREEN MONEY issues is that then we will have a Santa Claus Congress and much too much money will be issued and the money will devalue and become worthless in no time at all. A quick perusal of the potential membership list will show why this is not really a concern under the proposed setup. Firstly, the Congressional members include some of the most fiscally conservative members of Congress who would be absolutely opposed to excessive issues of GREEN MONEY to greatly expand government expenditures, Paul Ryan being the very first on the list. Even if most Congressional members wanted to fund pork barrel projects for their constituents back home, the Executive Branch and Federal Reserve members would be quite to object based on the need to preserve the value of the dollar for everyone. And finally, the committee includes members who regularly work with mathematical models of the economy which can be augmented with the Inflation Tolerance Inequality derived in my White Paper. These members, including the Director for Macroeconomic Forecasting from the Council of Economic Advisor and the Director of the Division of Research and Statistics from the Federal Reserve System, are required under the Act to perform computer simulations of any policy which might be adopted by the Monetary Authority as a whole. Hence an inflationary expansion beyond the Inflationary Tolerance adopted by the Authority simply could not be adopted as policy. Historically, the tiny island of Guernsey has been able to keep inflation under control, as Canada did also when it issued it's own money for about 40 years before they joined the BIS network. If these other countries can keep inflation under control without the use of mathematical models, then certainly the US can with its highly developed modeling capabilities.

 

In short, the structure of the Monetary Authority makes excessive inflationary monetary expansions extremely unlikely. Also, because of the quarterly policy update cycle, any errors on the side of excessive inflation can be rapidly corrected. For all of these reasons, inflation is just not something to worry about under the Greenback Renewal Act.

Categories: Greenback Renewal Act

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