This proposal is based on Alexander Hamilton’s American System of political economy and clearly identifies the role of Alaska’s governor and legislature in ending the current budget crisis.

The establishment of the Alaska State Bank and the assembling of a team to leverage packages of state, municipal and port authority bonds, grants and shares through discount windows at the Federal Reserve would more than compensate for the current loss of oil revenue.

Cutting the Alaska Permanent Fund Dividend or taxation of individuals becomes absolutely unnecessary if the state of Alaska begins to use fractional reserve banking and creates access to federal monetary policy.

Keep in mind that reserve requirements will be paid for by the Federal Reserve and the grants and shares that are created through increases in the money supply do not have to be paid back.

These fundamental facts negate the British System of political economy’s sustainability doctrine that refuses to discuss reforms that challenge the financial system to create credit for physical production, science, education and productivity.

Let us challenge the ideas that are leading us into poverty. Crack open a history book and realize that our state and nation require a return to the American System.

Click “like” if you do not want your Permanent Fund Dividend cut or you do not want to pay income taxes.