Entrepreneurial energy

Armstrong Williams | 5/31/2013, 12:38 p.m.
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In money and banking, one of the fundamental principles that are maxims that we are taught is that the Federal Reserve creates money. But that's simply not the case. Going all the way back to elementary school for a moment, we are taught that money is a noun. WRONG. Money is a verb. The definition of a verb is to work. Money is created by commercial banks, which means lending (hopefully to business people) and not buying government bonds. America back to work means banks lending money to its business customer base, which results in greater employment and greater productivity.

Jobs are created only one way, and that is through production. We must remember that jobs are a byproduct of production. More jobs and a free market system allow more people to be competitive and more successful. More successful people create a network that breeds more success--culturally, financially and emotionally. I have created jobs for people over the years, good jobs, and I am proud of that, and buying a TV station will allow me to create even more. Minorities need this system because of all the trickle-down results. The potential for a wealthier or more successful friend or family member can only help minorities rise out of poverty, and the free market system is the foundation of that.

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