Help me "Change Washington" 's view!!

Like I've reported in a previous entry on Jan 19, 2009 - ie:

http://planetgold.blogspot.com/2009/01/on-behalf-of-president-andrew-jackson-i.html

I've sent via amazon.com (well another vendor linked to amazon), a copy of this book:



To President Barack Obama, hoping he will read it and agree that to get true change will require to
1 - abolish the federal reserve,
2 - go back to the gold standard
3 - abolish fractional reserve banking: ie: forcing bank to sell bonds of same value corresponding to each loans they make, or something along those lines.

I was thinking last night that if several people (say 200 or more) would be doing the same, the chances that this gets escalated to his attention will increase drastically.
So, to help this country and the world, please do the same and send a copy to:
President Barack Obama
The White House
1600 Pennsylvania Avenue NW
Washington, DC 20500

Click here to order from amazon.com: A Creature from Jekyll Island

Now, I want you to know, I am not affiliated with Amazon nor with any other vendor of this book or the author, Mr. Griffin. I'm sure he would be please to see this but that's beyond the point.

The point is to "Change Washington" - we heard that, let's act and pray we will truely see this in action.

Avoiding fractional reserve banking

The trouble with Fractional Reserve banking, what all central banks of the entire world are based upon, is that it leads to booms and bust. The bigger the pyramid, the bigger the booms and bust.
The US dollar is at the bottom of this pyramid, since it is the world reserve (at least for now).

Fractional Reserve Banking is the case where, say a bank is allowed to lend up to 90% of their customers deposit. Since, with credit cards today, most of the money stays in banks, this means this inverse pyramid can grow the money supply by a factor of 10.
To illustrate:

• You deposit $1000
• The bank can lend $900 to someone else, which will end up in another bank or your bank (but lets look at all the banks as an aggregate).
• So, your bank can lend $810 of that $900 to a 2ND borrower which spends it and gets back into the bank.
• Again, this $810 can be lend again .... (90% of it which is $729)

If you add up $900+$810+$729... you end up at a max theoretical value of $10,000

This inverse pyramid leads to all sorts of problems, including why we got the FDIC in the USA to protect depositors. But this FDIC is flawed as all banks pay the same fee to get the insurance, regardless if they make dangerous silly loans or not. To be competitive, better make silly loans :-)

So, under planet gold, what would be an ideal system is something modeled from the Danish. When you get a loan or a mortgage, the bank has to sell a bond for the same amount. The bank is responsible for this bond. Your loan might be at a higher interest rate than this bond.

So, this means your gold that is deposited, has never been lent to anybody else. It is always available. Of course, you now have to pay to have it stored. However, if you buy a bond, you make some interest which could pay for the storage of the rest of your gold. But then, this means you have chosen the amount you are willing to lend and the amount you have chosen to keep.

The market will chose the rate. If there is a lack of money, the interest will go up which will then attract savers to jump on the bond market and lend part of their money.

Of course, as in any market, booms and bust will still occur but those will be smaller in comparison with what we experience with central banking.

On top of that, the market decides of everything - interest rates, etc. That is what free market and capitalism should be.

Gift to President Barack Obama from President Andrew Jackson

On behalf of President Andrew Jackson, I have just sent the book "The Creature from Jekyll Island"
http://www.amazon.com/Creature-Jekyll-Island-Federal-Reserve/dp/0912986212
The idea was to use amazon.com but they didn't offer directly this book so, I have used the service of Powell books
http://www.powells.com/biblio/1-9780912986395-3
It will be shipped to "President Barack Obama" at 1600 Pennsylvania Avenue NW, Washington, DC 20500 with a gift wrap and a short message.

And I've posted this video at youtube
http://www.youtube.com/watch?v=STWFSaUp1Ao



And following is the message:
====================
Hello my fellow citizens. My name is Andrew Jackson, the 7th President of the United States of America. With the recent events in the banking system that occurred in the United States, I could not take it anymore and decided to express my total outrage.

First, I’d like to announce that today, January 19th 2009, I have used the service of this new company called Amazon.com to send a gift to the upcoming 44th President of the United States, Mr. Barack Obama. The gift is a book called “A creature from Jekyll Island” written by Mr. G. Edward Griffin. I hope President Obama processes the information in this book wisely and takes care of abolishing this monstrous central bank. As many of you know, I did not renew the charter of the 2nd bank of the United States of America. This was the 2nd attempt by bankers to establish a central bank and they did fight a great deal to keep it.

I was very shocked to see the successful formation of the Federal Reserve System that was passed on December 23th, 1913 when Congress was almost empty. Its charter, which was supposed to bring stability to the banking system, has obviously failed. After going through the terrible problems of fiat paper money during the American Revolution, the founding fathers, decided to make sure the money used in the United States should always be Gold and Silver. What happened to my country?!

As this European banker, Mr. Rothschild said: “Permit me to issue and control the money of the nation and I care not who makes its laws”. If this statement alone is not sufficient to demonstrate the horror of this current Federal Reserve System or any other Central Banks, what then?

Today, several organizations such as GATA.org have been formed to bring to light the manipulation of the market, making it far from a free market. I urge the 44th President to act responsibly, not for private interests but for his country, its people and for its constitution and abolish this Federal Reserve System. Please read this book, President Obama, and save the United States of America.

Thank you

Andrew Jackson.