It is quite clear that the central banking system used by most nations is corrupt and transfers wealth to the international bankers in a steady stream forcing these nations to collect income taxes from the working people who also must pay the cost of their governments.

The basic problem that causes wealth to be lost by workers is this corrupt central banking system that also controls the money supplies of these nations and has leveraged it to a level that exceeds the M2 money in the USA. So, workers are paying interest with their taxes for this leverage used by bankers. When nations, like the USA, have been forced to carry debt and allow it to grow, it steals wealth of future generations. This indicates that governments have no concept of how corrupt these central banks have become. Members of the US Congress have been, effectively, taken control of by these bankers who own more debt than the assets backing it. When you consider that these central banks have very little invested in the debt that they have forced upon our governments, it should be clear that the whole central banking system is corrupt and has been stealing the wealth of nations for centuries. The decision by the US Congress to allow private bankers to manage our sovereign money supply was involved in serious debate during the first century of our nation's existence. With the decision to use the Federal Reserve to manage our money supply, Congress has lost interest in where the money is going. The international bankers are using the influence gained by stealing our wealth to maintain control over the monetary policies of Congress, effectively preventing loss of control and forcing taxpayers to constantly pay for losses that the banks have taken in their efforts to steal our wealth.

The answer to this corruption is for nations to abandon privately controlled central banks and to replace them with a system in which the political subdivision of the nation can each be given local control of banking using state-owned banks having democratically appointed bank managers. In the case of the USA, each state-owned bank would participate in the creation of a new central bank using the fifty state bank managers, appointed by each governor, to form the central bank's management board and its committees. The US president would continue to appoint the chairperson of this democratic central bank system but its regulation would move to the states where taxpayers oversee the local bank management. This change would allow a more democratic distribution of the money supply into the states via loans to the private banks. Leveraging of assets by private banks should no longer be free of interest so that the banks would compete for money and pay for higher risk-taking with this leverage. There would be a self-limiting feedback on risk-taking if banks were required to pay higher interest rates when leverage exceeding specific limits. State banks would oversee the private local banks in order to monitor and manage the local economic growth. This has worked in North Dakota for the last century.

Such changes in central and local private banking would allow the people to end the use of debt by Congress to overspend at will. Taxpayers would then retake control of federal spending that was stolen away when Congress discovered that the Fed would allow unlimited spending with its bond buying programs. The suggestion that having a private central bank system would prevent the manipulation of the money supply by Congress has been disproven. In fact, our central banking system has allowed bankers to control Congress and Congress to destroy the constitutional feedback mechanism once held by taxpayers over spending limits. It is the use of federal debt for the management of the money supply that has caused all of this corruption, wealth loss, economic instability and unending deficit spending. The global bankers using debt to leverage bond for investment purposed steal our investment profits as well. All of this corruption by financial institutions has corrupted the insurers as well.

This is a problem of central failure to protect the people's assets and it allows this constant flow of wealth to the global bankers that must be stopped. These stolen assets must be taken back and the illegal use of leverage is the charge against the global bankers we must utilize to regain control of the money supply as we make the changes needed to establish democratic banking controls that can assure us a more honest, less corrupt banking system and control of federal spending by taxpayers. Fifty individual state-owned banks controlled by managers appointed by governors obligated to balance their local budgets seems to make this new system less susceptible to corruption by politicians.

We would benefit greatly without the use of Treasury bonds that make overspending and abuse of taxpayers an easy task for Congress. With a balanced budget amendment that requires deficits to be paid for in the following budget cycle without the ability to carry debt forward except in crisis, the use of long-term Treasuries can be eliminated. By doing so, Congress would be forced to pay for each budget with revenues and debt would be very short termed. This would allow the end of income taxes as interest paid by lending institutions would flow into the Treasury to offset the lost revenues. Remember, the global bankers would no longer be paid hundreds of billions in revenues each year, so the federal budget would be significantly improved by this change in monetary system and banking. Municipal bonds would naturally become the replacement strategy for long-term income investors and the economy would control the demand for growth in the money supply. Local governments would have the incentive to grow local economies to grow revenues for the states and the federal Treasuries. Thus taxes levied directly upon taxpayers would be offset by interest paid via growth. As with every economy, government spending would depend primarily on a stable growing local economy that, in this system, creates a lower need for taxes. The current system has allowed political corruption to prioritize tax growth above the economic growth required to produce its taxes. The many advantages of making the suggested changes should be evident.