Michael Rivero may be the Walter Cronkite of our time, or at least one of them, but the solution offered is mistaken, misinformed and can not serve the people, because the money would not originate with the people. As this blog sees it, ALL government issued money is illegitimate, whether backed by gold or GDP or anything else. “Backing” is just another instance of deliberate misleading of the public by lying economists and bankers. We do not want governments competing with private businesses in the economy because governments have nothing which we want to buy and rely on taxes, takes, to extinguish the money they issue. Another issue, that Michael didn't address but probably knows about, is that your income taxes do not go toward covering government spending or paying down the national debt, but to pay the bankers their interest on their money. Since they have no intention of taxing all the money back, as that would probably cause revolution, all the money they spend above the taxes they take in causes inflation.
It only seems right that I should comment on the proposed solution, which is for governments to switch from central bank issued money to government issued money, with or without the various hair-brained schemes concocted by Bill Still and others to make sure that the people you gave the power to create your money for you will actually spend it “in the public interest” and to control inflation. This is a ridiculous solution because you cannot entrust anyone else with the power to buy into an economy and then complain that they didn't buy what you wanted. Well why did you give your government this power in the first place? Because you believe in your government, like an idealistic fairy tale, like Santa Claus, like believing that society is only kept sane and civilized because some government goon or thug could make those who misbehave tow the line. That's not a free society, and it doesn't promote anything like a genuinely free market. It also absolves you of any responsibility for your own life. Like being a slave? Many do, unfortunately.
No, our solution, an independent international standard measure of value, issued only by the poor by fiat and interest free, accessible and useable by all others through exchange and trade, is the only solution guaranteed to bring governments back under control of the people, to remove them from debt slavery to central bankers, etc. and to provide a stable standard for value measurement that will last for generations bringing poverty, war and inflation all to an end.
Monetary reform is THE issue of the age, upon which all other issues rest. We remain steadfastly convinced that our solution is the only acceptable one.