Rep Kucinich introduces HR 2990 to create interest-free money
Oct 13, 2011
Rep. Dennis Kucinich (D-Ohio) on Sept. 21 introduced the National Emergency Employment Defense Act (NEED), H.R. 2990, which would remove the power of creating money from the privately owned and controlled Federal Reserve System and restore to Congress to constitutionally create money interest-free. The bill closely reflects the American Monetary Act (AMA), model legislation developed by the American Monetary Institute, which is headed by noted money historian Steve Zarlenga.
Kucinich has persisted in pursuing legislation to make the historic change of converting to interest-free government money spent into circulation—as the Constitution mandates—instead of being borrowed into existence from the private banking system at ruinous interest.