First some definitions: money and monetary system.
What is money? It is a medium of exchange. It is a way of keeping track of exchanges of goods and services.
What is a monetary system (or money system)? A monetary system is the rules and regulations, agreements if you will, that govern a country’s money supply. How will it be denominated? Who gets to create the money and under what restrictions?
So, who own the monetary system, the US citizens or the banks?
The answer is clear that it is we, the people.
We fought the Revolutionary War for the right to create our own money, and the Constitution specifies it: (Article 1, The Congress shall have power to…coin money, regulate the value thereof,…”)
Why do we bring this up? Because the US Congress gave the money power away in 1913 to the Federal Reserve and private banks. Since then, we have borrowed our money supply from them, and pay it back with interest (what we call the debt-money system). And today we find ourselves in an escalating crisis of debt. These two facts are not unrelated.
If there is any remaining question as to who owns the monetary system, it should be answered by the fact that we the people, we the taxpayers of the United States are the ones who have to foot the bill when the monetary system breaks, which it is doing right now.
