Emmanuel Macron, the new French president, can win a great victory for France and for Europe by attacking the present European Union banking system. Just like the first Napoleon, he has enormous power over the French state and like Napoleon he should use it quickly to outmaneuver the Germans who rule so clumsily the sluggish and old-fashioned European central bankers. President Macron is an economist who knows well the American Federal Reserve banking system. He knows that it is a highly sophisticated system and that it works very well in a union of states. He should institute it in Europe and free local bankers in all the European Union states to create money for their local economies at their risk and as they see fit. This happens now in the US. Federal Reserve banks not controlled by any government support local banks by lending them money and freeing them to loan money well in excess of the small deposits they hold. This allows them to create the money supply from the bottom up by loaning businesses money independently of state central banks like those in the EU who now stifle European economic development by their stupid austerity measures. Recently when banks failed in Italy, the Italian government used public tax money to save the owners of the banks and did nothing for the average depositors who lost their money. The opposite happens with the US banking system. Federal examiners take over failed banks, save what assets are left, leave the owners to suffer bankruptcy and reimburse depositors for their loses up to $250000.
The central government of a union of states should not use a central bank to create the money supply for a large group of states. Neither should it demand that states not take upon themselves deficit spending if they wish. No money supply of a union of states expands correctly if the supply is not created locally in local banks who understand where capital is needed to create profits and jobs. The Federal Reserve Banking system of the US is a working model necessary for full economic expansion in Europe. Like the first Napoleon with his army, the new master of France should use his knowledge of advanced economic systems to boldly and quickly outwit the present masters of the EU’s economy for the good of Europe.
Daniel McNeill
Read "The United States of the World" a complete book of 12 essays on the movement within American history towards changing the central government in Washington to the central government of a worldwide union of states at: usoftheworld.com/history
Read other writings about worldwide unity at the United States of the World website: usoftheworld.com
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