Re: AMI Free Monetary Seminars in Seceral Cities
- From: "Mark M." <markm@xxxxxxxxx>
- Date: Wed, 26 Mar 2008 18:44:49 -0600
"Mark M." <markm@xxxxxxxxx> wrote:
Guess what? Someone finally mentioned on National Television the key
overlooked element in resolving the crisis:
Floyd Norris economics writer of the New York Times to Charlie Rose:
"We need a restructuring of the financial system"
Charlie Rose replies:
"Does anybody know whats going on?"
Well folks the American Monetary Act is just such a restructuring.
Then don't be afraid but include the basic theory in your post
(rather then lots of expert/think-tank invites ?). Grace Usenet with
your content !
Not the AMI plan, but my monetary reform plan:
The need for investment return is eliminated by state provided health care,
education, and full pensions. These provisions accompany state decreed sweeping debt cancellation. FDIC funds up to 100k per entity are
transferred to Treasury, with an account set up for each citizen. From
here, a greenback monetary system takes over with increases in money supply
distributed to Personal Treasury Accounts on a per capita basis. PTA's
also function as free, non interest bearing checking accounts, thereby
keeping great aggregations of normal exchange money out of banker's mitts.
Nationalized Fed absorbed by Treasury continues to function as check
clearing service. Concurrent tax reform of location rent taxation, mineral
extraction fees, and electromagnetic spectrum rents, are supplemented as
needed by per capita tax. Other taxes are eliminated. Land rent taxation
destroys selling price of land, the financial cornerstone of the Debt Web.
Banks service PTA's for a fee paid by government, and aggregate risk capital for investment. No more interest bearing bank accounts without risk. No more consumer lending at interest (usury). Capital investment goes to fund real goods ie tools, machinery, buildings used to produce.
Since you didn't include content I'll make the first
move instead, looking forward to your rebuke. If you give none you've.
lost the debate, right ?
The money system should be replaced with a 3 tier money system:
1. A fiat `medium of exchange' money sector.
2. A mortgage/consumption-credit lending sector.
3. A business-credit lending sector.
1. A fiat `medium of exchange' money sector. No gambling here.
The banks can not create money, only service its exchange
to/from cash and to/from internal/external accounts. A Government
owned central bank services the fiat money: services inter-bank
and international payments, maintains the physical cash. The Government will be able to maintain the value of money by spending new money (inflation) and by destroying taxed money (deflation).
There will not be any gambling with this money, but the businesses
in this sector can be privately owned: for profit service industry
sector. The Government can audit this to make sure the banks are
at 100.00000000000000000...% reserve, which can be done (I think)
by independently notifying all account holders as to what their
banks says they have in their account; that should match their
central bank account, so that the bank can not create money.
Two "pump" sectors:
2. A mortgage/consumption-credit lending sector. The capital that
a mortgage/consumption-credit business uses could be extended
to it through a Government loan, where the private money a
mortgage/consumption acquires is kept at a low level thereby
being forced out as profit taking: wages. The Government opens
a large liquidity pump, the mortgage/cons.cr. business turns
that into many small pumps. The Government can control these
mortgage/consumption-credit businesses by having many of them
compete which keeps rent-costs down. The Government can control
these businesses by sucking back on its pump, which would destroy
that business, forcing it to liquidate all loans and then it is
bankrupted. That means the principle sum of the capital-tool
extended by Government to a loan-business would not normally be
payed back (in full), as such payment would destroy the business.
3. A business-credit lending sector. This can not be structured in
the same way as the mortgage/consumption-credit lending sector,
because investment in abusive dictatorial bosses simply is most
profitable, thus in the end destroying the Nation and eventually
the world (which is what you see happening constantly). This
must be structured in such a way that the money is invested with
an added social-motive beyond profit seeking, so that there is
no motive to invest the money in abusive dictatorial bosses anymore.
There are ways to do that: democratic control by the People, who
would be (are) the victims of such abusive boss investment, and who therefore have a motive to prevent it. This democracy can exist
on a private smaller scale like a credit union or some kind of
union of would-be victims forcing investments away from the abusive
bosses, and/or a national scale where the state is responsible to
the whole of the People, which are also the would-be victims.
At present these three sectors are rolled into one, which is causing:
- Abusive boss funding, destroying Nations and the world in total: bad
people come to power, who do bad things (like launching nuclear wars,
installing plutocracy, corruption, etc, etc, it has no end)
- Chaos because the money exchange system is hollowed out by and made
opaque by the gambling sector that infests it, using the money
creation leverage (not 100% reserve requirement, not audited for
100% reserve requirement), and by messing up on the gambling (fired
on by Government bail outs since Government fears the collapse of
the financial system, but this only takes over the over extended
risk, causing yet worse risk taking and then worse bail-outs and then
worse risk taking, etc) creating bank-scares and otherwise unnecessary bankruptcies of account servicing banks.
The Government would take on a stronger role, yet at the same time
it can stay far away and above the markets merely controlling a:
- money exchange auditing system,
- the total money supply,
- fostering and policing a mortgage/consumption-credit industry by extending and manipulating its liquidity from the back-side,
- fostering a bank account service industry by providing a central bank
- fostering and maintaining a harmless, even beneficial, business
credit industry by policing how business credit groups are structured
thus how it is motivated and actually placed,
- ultimately the Government can place money into the economy in any
way it likes by its own direct decision, thus correcting issues in the
real economy (like for instance eradicating an abusive business boss
that has emerged somewhere by funding impossible to defeat competition
Is the money backed by gold, or silver ? No, but you can buy gold and silver
with the money like you can buy ice-cream and bike tires with it, and
so the money is indeed redeemable in gold or silver. The value of money
is that you need it to pay your taxes (and fines if any), that others
need it to pay their taxes. Once something has value for one person it
has value for everyone, and if it has value for everyone it has value
for even more people, that is how a fiat money works. You can put legal
tender laws on top of that to force more value into money.
This would work nicely IMHO.
This relaxed, stable, rational money system implements the first point
in an overall economic system change which has 3 more major points ...