[GJM] AMI discusses how the Federal Reserve (US) is privately controlled and not a part of our government

[Muhammad Mukhtar Alam]

Dear Stephen,
   
  This is a great news and It would be indeed good for US if the reformation/ transformation is effected as soon as possible as possible for leiminating the usuriuos money anf for getting interest free  money creation within public control.
   
  Dr.Muhammad Mukhtar Alam
   
  

AMI <ami at taconic.net> wrote:
  
Dear Friends of the American Monetary Institute,
Some new good materials are on our website:

I'm happy to announce that we've devoted some time to the AMI website 
and all the links are now functioning at http://www.monetary.org
Take a look. No more "files not found" messages. That includes all but 
one of the reviews of The Lost Science of Money, which will take another 
few days to locate.

A couple of weeks ago we were asked by some serious governmental people 
in Washington, DC whether in fact the Federal Reserve was a part of our 
government or not. Though we have long considered the Fed as a private 
not a public organization, rather than give an off the cuff answer, I 
wrote a short paper demonstrating the Feds private status, including the 
overwhelming evidence that it is not operating in the public interest. 
That paper is attached, and is also at our website at
http://www.monetary.org/federalreserveprivate.htm

One of our Chapter members and supporters from Seattle told us we must 
add "The Need For Monetary Reform" essay to the website. Its attached, 
and its now there at http://www.monetary.org/need_for_monetary_reform.html

Finally we have posted the working text of the "Monetary Transparency 
Act," a kind of little sister to the American Monetary Act. Its been 
described by one economist as "deceptively innocuous." Its attached and 
also on the website at http://www.monetary.org/need_for_monetary_reform.html
Please take a look and send comments.

The AMI 2006 Monetary Reform Conference is going well. Consider joining 
us in Chicago, Sept. 21-24, and remember the final early registration 
discount date for mailing registrations is July 17th.
Sincerely,
Stephen Zarlenga
Ami





  
  
© 2006, until introduced.  Draft # 3, June 2006 – suggestions/criticisms welcome
  American Monetary Institute
P.O. Box 601, Valatie, NY 12184
  Stephen Zarlenga, Director
  Interested parties, please comment to me at:  ami at taconic.net
   
  MONETARY TRANSPARENCY ACT
   
  An Act to assure greater access and transparency in the publication of certain monetary statistics important to determination of public policy, including the M3, in authoritative, convenient form.
   Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
   SEC 1. SHORT TITLE
   This Act may be cited as the Monetary Transparency Act
   SEC 2. FINDINGS
   The Congress finds that –
   The collection and timely public reporting of reliable monetary statistics has become an essential analytical element in the areas of monetary, fiscal and public policy decision-making and is essential for transparency in the U.S. monetary system.
   Such reporting of the M3 monetary statistic of the United States money supply has over the years become an important anticipated measurement followed and relied upon by financial analysts, economists, investors, professors, students and other members of the public, in their studies and financial decision making.
   The continued publication of the M3 measurement is therefore important to maintain an historical continuity in the availability of this statistical tool for now and for future studies.
   The announced discontinuance of its publication has created uncertainty among those using this statistic, including the question “what are they hiding?”
   Therefore publication of the M3 by the Federal Reserve Board shall continue as before.
   Transparency and ease of readability is an essential value in the dissemination of important statistical information by the Federal Reserve System. It alone has the resources, staff and experience to reliably ascertain such data. Reporting it in timely, convenient, and authoritative form can aid the appreciation and adoption of proper monetary, fiscal and public policy measures. To that end, the Federal Reserve System shall use its resources and personnel to provide reliable data and best estimates of several additional statistics as recommended by economists below.
  SEC 3    Not later than 60 days after the effective date of this Act, the Federal Reserve shall resume publishing the M3 Monetary Aggregate as it is presently published before March 23, 2006; the effective date of its intended discontinuance as announced by the Federal Reserve System. This shall include the M3 statistics for the period when publication may have lapsed.
   SEC 4
  The following statistics are to be collected or best estimated and reported on a quarterly basis, unless otherwise specified: (Several of these statistics is already reliably calculated by the Federal Reserve or by government agencies. In such cases the statistics will be assembled for convenience, reliability and transparency by the Federal Reserve System in this report.)
  <!--[if !supportLists]--><!--[endif]--> (a)    An estimate, quarterly, of the seignorage, not collected by government, through the private creation of purchasing media (“money”) through the fractional reserve lending activities of financial institutions.
  <!--[if !supportLists]--><!--[endif]-->(b)   The applications/purposes (in the aggregate) to which all such loans were applied, in absolute and % of total figures, including:
  <!--[if !supportLists]--><!--[endif]-->1)      public infrastructure
  <!--[if !supportLists]--><!--[endif]-->2)      leveraged buyouts and mergers
  <!--[if !supportLists]--><!--[endif]-->3)      stock trading margins and derivatives trading activity
  <!--[if !supportLists]--><!--[endif]-->4)      consumer spending
  <!--[if !supportLists]--><!--[endif]-->5)      mortgage financing
  <!--[if !supportLists]--><!--[endif]-->6)      building and property acquisition
  <!--[if !supportLists]--><!--[endif]-->7)      capital spending
  <!--[if !supportLists]--><!--[endif]-->(c)    The geographic breakdown of all such classes of loans in part (b) of this section
  <!--[if !supportLists]--><!--[endif]-->(d)   Estimates of the total value of assets in the U.S. by the following economic categories:
  <!--[if !supportLists]--><!--[endif]-->1)      depreciable capital
  <!--[if !supportLists]--><!--[endif]-->2)       land
  <!--[if !supportLists]--><!--[endif]-->3)      government granted privileges including:
  <!--[if !supportLists]--><!--[endif]-->i)                    mineral rights
  <!--[if !supportLists]--><!--[endif]-->ii)                   spectrum rights
  <!--[if !supportLists]--><!--[endif]-->iii)                 water rights
  <!--[if !supportLists]--><!--[endif]-->iv)                 pollution rights
  <!--[if !supportLists]--><!--[endif]-->v)                   patents
  <!--[if !supportLists]--><!--[endif]-->4)      Goodwill
  <!--[if !supportLists]--><!--[endif]-->(e)    Undertake the Survey of Consumer Finances every year instead of every three years
  <!--[if !supportLists]--><!--[endif]-->(f)     Require full audits of the Fed by the Government Accountability Office (GAO). 
  <!--[if !supportLists]--><!--[endif]-->(g)    Relevant statistics describing the then current distribution of wealth in the U.S. 
  <!--[if !supportLists]--><!--[endif]-->(h)    Summarize the present under funding of public and private pensions, by category and size.
  <!--[if !supportLists]--><!--[endif]-->(i)      Accurate statistics on the unemployment and under-employment situation in America, including what has happened to those skilled persons who have “fallen through the cracks.”
  <!--[if !supportLists]--><!--[endif]-->(j)     An estimate of which part of new money creation is going to small business, graded into 4 levels by size, as well as which % of new job creation comes from those small businesses.
  <!--[if !supportLists]--><!--[endif]-->(k)   A press conference will be held quarterly to publicize this report.
  




 		
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