State, Federal, Co-op or everyone?

"It’s the monetary system which must be changed to end the fiscal crisis, .....

the only institutions that can create money without debt are national treasuries and/or central banks" .........

"We don’t want to put the government into the banking business – we want to get the banks out of the money creation business!" – Dick Distelhorst


Historical experience has taught us what we need to do:

1. Put the Federal Reserve System into the U.S. Treasury.

2. Stop the banking system creating any part of the money supply. 3. Create new money as needed by spending it on public infrastructure, including human infrastructure, e.g. education and health care.

These 3 elements must all be done together, and are all in draft legislative form as the proposed American Monetary Act (read it here:


"The correct action for the States is to insist on this Federal action!

Genuine monetary reform is the solution to the nation’s fiscal problems, and that can only be achieved at the national level.

 The American Monetary Institute is sponsoring the 5th annual Monetary Reform Conference at Roosevelt University in Chicago, September 24-27, 2009, to bring together the best minds to get done what has to be done.

Jamie R. Walton


1. "The Public Option in Banking: How We Can Beat Wall Street at Its Own Game" ", Hodgson Brown, Ellen, J.D. Web of Debt (website), August 5, 2009.

2&4. "How the Nation’s Only State-Owned Bank Became the Envy of Wall Street", Harkinson, Josh. Mother Jones, March 27, 2009.

3. "NSW Savings Bank Board Official Announcement: Protection To Depositors", The Age, April 23, 1931.

5. Bank of North Dakota 2008 Annual Report: Independent Auditor’s Report, p. 4.

6. State of North Dakota: 2009-2011 Executive Budget Summary, p. 3.

7. "New Fiscal Year Brings No Relief From Unprecedented State Budget Problems", Lav, Iris J. and McNichol, Elizabeth. Center on Budget and Policy Priorities (website), updated August 12, 2009.

8&10. "Another Way Around the Credit Crisis: Minnesota Bill would authorize State Banks to "monetize" productivity", Hodgson Brown, Ellen, J.D. Web of Debt (website), March 23, 2008.

9. "Paper Money and the Original Understanding of the Coinage Clause", Natelson, Robert G. Harvard Journal of Law and Public Policy, July 1, 2008. "