Anselm Rothschild, a founder of fractional reserve banking, said, “Permit me to issue and control the money of a nation, and I care not who makes its laws.”
This mantra rings true today where we have banks that are simply too powerful to fail. Public utilities are entrusted to maintain access to critical infrastructure - and finance is certainly critical infrastructure.
President Lincoln said, “the privilege of creating and issuing money is not only the supreme prerogative of government, but it is the government's greatest creative opportunity.”
With the FPU, our government can finally return this privilege to the taxpayers. The FPU’s charter should maximize capital efficiency for individual citizens and its corporate structure should enshrine the FPU’s obligation for social benefit.