Letter: Raising our standards

Re: ‘Follow the money’ (Metro, Jan. 16)

Letter writer David Snieckus points to the Federal Reserve. However, this system did work until first President Franklin Delano Roosevelt removed the gold backing from each dollar. Kennedy decoupled the silver as a reserve supporting the dollar and then President Lyndon Johnson did away with silver coins by signing the 1965 Coinage Act — an act that had gone unchanged since 1792. Johnson boasted of the event, commenting on the 172 years it had been honored and respected.

Today the coinage and paper money have a value, but ask yourself: Would you prefer a pocket with coinage of real value or a pocket with bonded alloys of aluminum and copper? And never let someone tell you this doesn’t matter.

Michael Treacy, via email



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Comments

1

  1. n response to the two e-mail letters from John Mclaughlin and Michael Treacy in Metro, January 21, 2014 I think America is great and our standards can continually rise. I think most Americans are doing what they can when they can. I have been fortunate enough to write letters to my State and Federal Representatives. various media editors and friends hoping to influence them in my way of thinking. Some agree and some don’t with my beliefs. Some take action and some don’t . That’s just the way it is. For example, in my recent letter to Janet Yellen, soon to be Chairperson of the Federal Reserve, (letter below) I have asked her to consider having the US Treasury issue our currency/money rather than borrow it. That’s where my focus is now and hope the editors of Metro will consider a column to the education necessary for the readers to understand why our money needs to be issued rather than borrowed and maybe a few will stand up and keep raising our standards to keep America Great.


    David Snieckus
    617-964-2951

    Letter to Janet Yellen Here:…and attached is chapter 6 of Sacred Economics by Charles Eisenstein who by the way will be in JP on Sunday, January 26th at the Church on Eliot Street

    David Snieckus

    99 Crescent Street

    Newton, MA 02466

    617-964-2951

    January 17, 2014

    Janet Yellen, Vice-Chair (Soon to be Madam Chairperson)

    FEDERAL RESERVE

    20th Street and Constitution Avenue N.W.
    Washington, D.C. 20551

    Dear Vice-Chairperson Janet Yellen,

    From TIME, January 20, 2014 issue, I learned from Rana Foroohar, the author of Madam Chairman, pages 22-28, a few wonderful things about you that I would like to address, namely

    · Your interest in math

    · Your realization that public policy could have been used to address problems during the Great Depression to alleviate all that human suffering

    · What economics should be…. “About caring for real people”….

    · Your eagerness to question and seek the truth

    · Your kitchen table realism and favoring of independent thinking

    1) Your interest in math should lead you to the inevitable conclusion that borrowed money that demands

    a periodic principal and interest payment can never, collectively, be paid since money to pay the

    interest is not issued into the system.

    2) Eliminating usury, imposed by private banks, in essence, is the public/private policy that could

    alleviate the human suffering that existed during the Great Depression and that exists now.

    3) To reduce unemployment and stimulate the economy, the US Treasury could issue money vs.

    borrow it from the Federal Reserve at interest, which increases the National debt. Your leadership

    of the Federal Reserve could help make this happen!

    In my humble opinion, caring for people involves caring for ALL people. To do that, I believe the US

    Treasury issuing interest free money is the answer rather than the U.S. Treasury borrowing debt-based

    money from the Federal Reserve.

    I look forward to hearing from you with your thoughts regarding how to best establish a healthier and more equitable monetary system.

    Sincerely and Healthfully,

    David Snieckus

    P.S. Enclosed is Chapter 6 of Sacred Economics by Charles Eisenstein that I think you would enjoy.
    [Word] Give me a call if you want me to send you Chapter 6 of Sacred Economics….david 617-964-2951