National Economic Stabilization and Recovery Act
Executive Summary
(NOTE: The NESARA Part 1 is a part of a larger two part bill; both known collectively as the NESARA.)

Part I—Monetary Reform
Part 1: Explanation & Details

Some of the Goals:
Reestablish Gold and Silver as legal tender in the U.S.
Allow for the public and private minting of the above.
Establish standards for the above minting.
Restructure the Federal Reserve Banks under the Treasury Department.
Treasury Department buyout and cancellation of Federal Reserve stocks.
Progressive excise tax on interest income to discourage excess indebtedness.

Topic of debate: Should we pass the NESARA Part 1?

Should we pass NESARA?

Definitely YES (At lest from what I know
)

Reestablish Gold and Silver as legal tender in the U.S.: If we pursue this then quite possibly we would be able to keep our dollar worth at least a little bit of a Euro.

Allow for the public and private minting of the above.
Is this was to be done it would drive down the cost of gold and silver, yet we would still have a valuable dollar.

Establish standards for the above minting.
In doing such we would create consistent mints, and a consistent dollar value, helping to push the economy foward.

Restructure the Federal Reserve Banks under the Treasury Department.
This one I am not sure about, since the national bank did not do so well.

Treasury Department buyout and cancellation of Federal Reserve stocks.
In doing this it would be a new foot in the US monetary policy, through which the government would have a lot less of a obligation to the people.

Progressive excise tax on interest income to discourage excess indebtedness.
My favorite aspect: encourage fiscal spending and a government where they realize you SHOULD NOT, you hear that Dubya, SHOULD NOT spend more money than you have.

Overall, the bill looks good to me.

America would become great trading partner with those 3rd world nation that have Silver or Gold ore. This is because both would be considerd as legal currency in the U.S.

I don't know if having a commodity standard is a good idea at all. The primary benefit seems to be the denial of deficit spending, which is not so objectionable to me that I would advocate such a radical change in the economy.

And why gold or silver? Neither is the purely aesthetic adornent that it once was. Gold is now an industrial material, used in electronics, medicine, automotive manufacturing, and industrial windowmaking. Silver is used in textile manufacturing, water purification, and as a solid lubricant coating. Wouldn't this mean that these materials have a necessarily fluctuating price based on the industrial demand, and that the dollar would be unecessarily tied to this demand?

The exchange rate between Gold, Silver, and Credit Notes are variable. and subject to market forces. An exchange index is tabulated on a regular intervals that ccontain the exchange ratios between the three currencies. In addition, no one is forced to use any one of these currencies to the exclusion of the others; the market forces would establish which currency would be primarily used.