The National Infrastructure Bank: Creating Debt-Free Money to Address the COVID Financial Crisis

The Most Revolutionary Act

Photo by Nick Fewings on Unsplash

Millions of Americans have joined the ranks of the unemployed, and government relief checks and savings are running out; meanwhile, the country still needs trillions of dollars in infrastructure. Putting the unemployed to work on those infrastructure projects seems an obvious solution, especially given that the $600 or $700 stimulus checks Congress is planning on issuing will do little to address the growing crisis.

Various plans for solving the infrastructure crisis involving public-private partnerships have been proposed, but they’ll invariably result in private investors reaping the profits while the public bears the costs and liabilities. We have relied for too long on private, often global, capital, while the Chinese run circles around us building infrastructure with credit simply created on the books of their government-owned banks.

Earlier publicly-owned U.S. national banks and U.S. Treasuries pulled off similar feats, using what Sen. Henry Clay, U.S…

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US Political Meltdown and Mutual Aid

The Most Revolutionary Act

Much has been written about the collapse of our political systems and the capitalist economy. This past year has seen the utter inability of Federal and state governments to even begin to adequately respond to the COVID-19 pandemic. Some of the consequences of which are 18,973,520 confirmed cases and 333,957 deaths as of today in the US.

The capitalist system that requires money for every transaction leaves behind all who don’t have access to money. Millions of people who once had jobs no longer do, through no fault of their own. Suddenly millions of people are hungry and find themselves dependent on food banks. Millions face the threat of eviction when they can no longer afford the rent, or to pay their mortgage.

And yet, knowing all this, the US Congress and administration refuse to provide even a modicum of financial relief. At the same time the military is given…

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