We've been saying this for years and years and years, but the American people have been all but deaf to it. Little by little, however, more and more Americans are listening and hearing. Be one of them, and spread it!
In America, however, the colonists defied the Bank of England and issued their own paper scrip; and they thrived. When King George forbade that practice, the colonists rebelled.
They won the Revolution but lost the power to create their own money supply, when they opted for gold rather than paper money as their official means of exchange. Gold was in limited supply and was controlled by the bankers, who surreptitiously expanded the money supply by issuing multiple banknotes against a limited supply of gold.
This was the system euphemistically called “fractional reserve” banking, meaning only a fraction of the gold necessary to back the banks’ privately-issued notes was actually held in their vaults. These notes were lent at interest, putting citizens and the government in debt to bankers who created the notes with a printing press. It was something the government could have done itself debt-free, and the American colonies had done with great success until England went to war to stop them.
We can issue debt-free, bond-free United States Notes replacing all Federal Reserve Notes in one fell swoop. There's no reason to do it gradually. There's no reason not to nationalize the banking system for the sake of the people. The economic system should be 100% democratic, not run by plutocrats. There should be no plutocrats — people who have been keeping the masses down simply out of ego!
We don't have to have price inflation or deflation. We don't have to have artificial shortages or scarcity.
This has been known to a very few for millennia. It's time it becomes common knowledge and that we end the charade and end poverty everywhere and quite quickly.
If the plutocrats don't like it, too bad for them.