*hyperlinks/videos live at source*
hat tips: Prison Planet, Zero Hedge
Last month, Federal Reserve Chair Janet Yellen acknowledged Fed power to create debt-free money for direct payment of public goods and services. This would create money as a “positive number” rather than current practice of only and always creating what is used for money as debt, a negative number, with obvious implications of increasing aggregate debt that will never be repaid and will only increase as negative numbers pile on forever.
This week, President and CEO of the Federal Reserve Bank of Cleveland confirmed this power to create debt-free money at a University of Sydney conference, going so far as to consider it a "next step."
In a world history of empire, the Emperor’s New Clothes facts for anyone who cares to raise their head and look is that this game-changing power transforms economics almost instantly, and with easily documented benefits of literally a million dollars per US household.