Proposal to Stabilize the Monetary System

Bretton Woods Monetary Institute & Festival

“The aim of the Bretton Woods Conference was the creation of a dynamic world community
in which the peoples of every nation will be able to realize their potentialities in peace.”

Henry Morgenthau, Chairman 1944 Bretton Woods Conference & United States Secretary of the Treasury.

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Public Money

A Proposal Designed to Stabilize the Monetary System:

This proposal calls upon the Federal Reserve System—and other central banks—to create a new facility to be called National Credit Notes (NCNs). This facility will issue loans at cost solely for the creation of real wealth that serves the public good, such as tables, chairs and professional services, as opposed to paper wealth that serves the private financial speculations that brought us to the brink in 2008. 

The loans arise at the request of individual entrepreneurs, co-operatives, corporations with Employee Stock Ownership Plans (ESOPs) in their constitutions, and public institutions with taxing power. The loans are vetted by and issued through local banks that are part of the Federal Reserve System. The repayment of the loans ensures that the economy remains not only stable but productive.