HR53 Summary

• Urges Congress to reenact Glass-Steagall financial protections (specifically HR129 and S1282) to eliminate worthless assets on major U.S. bank books that threaten economic stability.

• Calls for returning to a national banking and credit system modeled on the Alexander Hamilton Bank of the United States, the Reconstruction Finance Corporation, and Abraham Lincoln's Greenback program, with the Treasury Department as the direct federal credit generator.

• Directs use of federal credit to fund infrastructure reconstruction including water systems, power generation, transportation, nuclear power deployment, and high-speed rail similar to projects being implemented in Asia and South America.

• Calls for launching a crash program to bring nuclear fusion technology to market as a solution for cheap, limitless power and new material sources.

• Requires distribution of the resolution to the President of the United States, presiding officers of both Houses of Congress, and all members of Congress.