September 6, 2011
Fractional Reserve Banking should be abolished as it institutionalizes fraudulent lending of unowned assets. All banks should be required to operate on a 100% reserve status, with immediate liquidation of all assets if they fail to hand over requested funds. Likewise, the cartelization of the banking industry should be ended with the Federal Reserve Bank sold off to purely private owners with no government involvement in their operations. Federal Reserve notes should be removed from their status as legal tender in the United States with gold backed treasury notes being issued by the Federal Treasury.