This thesis is concerned with the reformation of the monetary system in the United States of America. The premise asserts that the control of the nation’s currency is a prerogative of government and the control of credit through the fractional reserve powers of banks constitutes a danger to the wellbeing of American society. To control credit, the best avenue of reform is for the government to constitute the Federal Reserve as a branch of government and eliminate the public debt. This thesis proposes that the structure of the Federal Reserve should be consistent with the federation, where the Federal government and states have a share in monetary powers. Credit, in the future, would be considered a public utility where individual citizens have equal access to it. The case study will look at North Dakota’s state-owned bank as the precedent. At the heart of this reform is also a devolution of the market system to local and regional levels. Access to both credit and trade allows for individuals, families and communities to realize their optimal productivity.
|School:||The American University of Paris (France)|
|Source:||MAI 56/02M(E), Masters Abstracts International|
|Keywords:||Currency, Devolution, Fourth branch, Market|
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