In order to function as a public bank, the Fed should
(1) Issue loans ONLY to create real wealth, such as tables and chairs and professional services;
(2) Loans at cost;
(3) Loans to benefit everyone (by funding -- through local banks -- individual entrepreneurs, cooperatives, ESOPs, and public entities with taxing power, so that loans can be repaid).
The monetary system is broken – the world over.
It is not working for the poor.
It has led to the collapse of the middle class.
It is not working well for the rich, except in an illusory and transitory way.
We have to turn the Fed from serving the few, rather badly, to serving everyone well.
If the proposed structure is in place, let Wall Street tremble or financial behemoths collapse, Main Street will continue to prosper.
MoveOn Civic Action does not necessarily endorse the contents of petitions posted on this site. MoveOn Petitions is an open tool that anyone can use to post a petition advocating any point of view, so long as the petition does not violate our terms of service.