We are now a bankrupt nation; grappling with how to fund two wars; under funding the escape from deep recession; on the brink of relinquishing our reserve currency status; and completely hampered by the financial sector in attempts to fund the "Commons."

Anti-deficit proponents whine, incessantly, about the need to cut taxes, and public program funding; knowing full well their "plan" failed under the previous administration. Bereft of grown-up ideas which contribute to the solution mix, these troglodytes, would have us believe that anything other than their view is un-American.

Thinking outside of the box is not their strong suit. In this current set of emergencies conventional wisdom is of little value. For instance, if we are to have a successful conclusion to the debate on health care this summer, then we must face the "devil of destructive deficits" with emergency measures that allow short-run and possibly longer term achievement of an ultimate objective, national debt free currency for all public sector programs.

I propose that the President use his Emergency Powers to order a moratorium on interest charged to the Federal Government for the costs of a universal health care program. This moratorium would last for as long as needed to ensure the design, development and operational integrity of health care systems, providers, equipment, etc. throughout the nation. The Federal Reserve is already doing this for its member banks who face insolvency. Since these are just book entries, why then can't the Fed do the same to fund the Commons?

The Federal Government could disperse debt free funds to the States for capital projects as currently administered, and do the same for Medicare and Medicaid. Healthcare providers would be reimbursed through the government not third party administrators. Subscribers would be free to use any facility, doctor or service to meet their usual and emergency care needs. Constraints such as, eligibility, pre-existing conditions, etc. would be eliminated.

Since a moratorium on interest charges would, by definition, eliminate the need for a revenue stream from taxes on income for medical care.

Think something like this could work (idea needs to be fleshed out with more specifics) as a foot in the door approach to the ultimate objective, national debt free currency?

The Fed is and can do as R. suggests. The President only has to ask the Fed to do it. If they agree, its done, and interest free money will resuscitate the commons.

If the Fed declines, the Congress will usually have the last word.

..... For the President to use his war and emergency powers to help Congress spend debt free money, against the will of Congress, would be novel.

..... Jefferson would have done it IMO.

..... Washington, Lincoln, and FDR did not have to: congress was in agreement with them.

Great idea, Rob. The problem is getting the Fed to go along with it, and all the other banksters that actually run the world, including the USA. There isn't enough of an emergency, YET. I think we need to have a movement and plans drawn up for such a contingency though.

But can we do it? The trouble is that there are so few people waking up, and of those who do, they are pointing fingers at each other instead of the real source of the problem - the bankers, and private interest-bearing money creation and control.

Yes, maybe, and maybe not, IMO. FDR should have nationalize the Fed, and printed, rather than borrowed, all the new deal reconstruction money. Then we would have had a different, and far better 20th Century, and we would not be facing worldwide economic meltdown today.

And we are, you know. The stimulus and bankster-bailout money has checked the economic crash for now, but the dollar is eventually going to crash and burn in a blaze of deflationary hyper-inflation - just like what happens when matter collides with anti-matter. Boom! It all goes boom. Then we get to start all over again from scratch, if we are lucky, and the planet is still habitable.

A moratorium on interest would help some, but it will not replace fixing the system to eliminate the interest on money (usury) that arises from private money creation. Nor will it eliminate the steady creeping inflation that has been going on since 1913, and amounts to a "stealth tax" on everyone's wealth, mostly old and/or retired and disabled persons or the unemployed.

I suspect that if enough populist pressure were building for nationalization of money creation, a moratorium on interest would be immediately offered. Then people would forget about reforms and they could resume business as usual after a short while.

We need a movement to "make them do it"!!!

JFK issued E.O. 11110 in June of 1963 creating debt free silver certificates backed by silver in hopes of forcing out Federal Reserve Notes. He did not have Congressional approval, although there were consultations.
For more on the certificates please visit this link.

http://www.reference.com/browse/EO+11110?jss=1