Book-1 Chapter 12: Bring on the Lucie (Freeda People) – Debt-Based Currency

Dr. K’s answers senator’s questions.

“I do not advocate handing over such authority to any existing
regulatory body. I think that WU would be better served with a
dedicated body that would provide oversight.”

“But wouldn’t the FED, which sets the interest rates, be the best
choice?”

“Sir, giving the FED any oversight authority over WU would
mean the end to it. The FED presides over a debt-based, currency
distribution network of banks—for profit. That is their business
model. WU is the complete opposite of that. WU accounts for and
stores the Work Units that individuals accrue when they provide their
labor. There is no ‘profit’ motive involved. Putting WU under the FED
would provide them with a conflict of interest to their primary
business model. That is why we have always required corporations to
declare themselves to be non-profit or a for-profit operation, when
they are registered. You just can’t be both. So FED oversight is not
possible, unless you are saying that this body will rewrite the Federal
Reserve Act and make them a non-profit corporation!”

A polite, subdued titter of laughter spread around the public
gallery. None of the senators joined in, though most smiled.

 

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