The 'Money Plan'

Building and maintaining roads and bridges without taxing or borrowing.

This applies to all state, county, city, and township roads.

1. Minnesota law regulates state-chartered banks. Not national banks like Wells Fargo but local state-chartered banks.

2. The state legislature can modify state banking laws so state-chartered banks are required to create money for construction and care of all roads and bridges. 

3. The newly created money will be full and final payments for approved projects, and will not have to be paid back. It is not
a loan.

4. Banks will be exempt from reserve requirements on this separate simple bookkeeping aspect of their business. 

5. Vehicle fuel taxes and axle taxes, will no longer be needed for building roads and bridges and they can be canceled. 

6. State of the art roads and bridges will create jobs, reduce air emissions, bring wealth-money into circulation, and add liquidity to the economy without causing price inflation.

7. This new money will turn over 6-8 times and be taxed at many turns, thus increasing revenue that could lower property taxes.

8. Great roads and bridges provide; lower insurance rates, lower business costs, reduced air pollution, less travel time, and less stress.

How money is created.

The actual creation of money always involves the extension of credit by private commercial banks." 
Russell L. Munk, Assistant General Counsel International Affairs, US Treasury

"When a bank makes a loan, it simply adds to the borrower's deposit account in the bank by the amount of the loan. the money is not taken from anyone else's deposit; it was not previously paid in to the bank by anyone. It's new money, created by the bank for the use of the borrower."
Robert B. Anderson, Treasury Secretary under Eisenhower, in an interview reported in the August 31, 1959 issue of U.S. News and World Report

"A private commercial bank...simply makes book entries for its loan customers saying, 'You have a deposit with us.'"
Russell L. Munk, Assistant General Counsel International Affairs, US Treasury

"Money is created when loans are issued and debts incurred. Money is extinguished when loans are repaid. A loan from a bank creates a deposit which the borrower may draw upon for the payment of obligations. Some existing money in circulation must be acquired by the borrower to repay the capital of the loan. When that is returned to the bank it is withdrawn from circulation."
John B. Henderson, Sr. Specialist Price Economics, Congressional Research Service.

"Money that one borrower uses to pay interest on a loan has been created somewhere else in the economy by another loan." 
John M. Yetter, attorney, US Treasury

---------------------------------------------------------------------

 

ISSUES for Leslie Davis as Governor

REDUCE DEBT AND OBESITY 

  1. "Money Plan" to pay for all roads and bridges without taxing or borrowing.
  2. End vehicle fuel, axle, and sales taxes.
  3. Forbid high fructose corn syrup (HFCS) drinks in schools.
  4. Gift $3,000 to each Minnesota ($12 billion) from the State Board of Investment that has a current balance of $89 billion.
  5. Legalize Cannabis for medicine, food, fuel, and textiles.
  6. Modernize energy systems in buildings to reduce energy use, reduce pollution, and lower cost.
  7. Repeal public water fluoride mandate, MS 144.145, to protect IQ's and the pineal gland.
    ___________________________________________