The solution requires that the Federal Reserve stop monetizing unproductive debt, including bailouts of banks "too big to fail" and Wall Street derivatives speculators, and begin creating an asset-backed currency that could enable every man, woman and child to establish a Capital Homestead Account or "CHA" (a super-IRA or asset tax-shelter for citizens) at their local bank to acquire a growing dividend-bearing stock portfolio to supplement their incomes from work and all other sources of income. Policies need to insert American citizens into the low or no-interest investment money loop to enable non- and undercapitalized Americans, including the working class and poor, to build wealth and become "customers with money." That's what the Capital Homestead Act addresses.
The "Capital Homesteading" concept is the direction America needs to take to build an OWNERSHIP CULTURE and ensure a balance between production and consumption.
This new paradigm is the subject of the Agenda of The Just Third Way Movement at http://foreconomicjustice.org/?p=5797 and is founded on the concept of Monetary Justice ( http://capitalhomestead.org/page/monetary-justice ).
A Petition to reform the Federal Reserve to provide capital credit to ALL Americans can be supported at click here=c.fb&r_by=3904687. The proposed Capital Homestead Act ( http://www.cesj.org/homestead/index.htm and http://www.cesj.org/homestead/summary-cha.htm ) would accomplish the necessary reform.
Own or Be Owned!
Gary Reber is the founder and Executive Director of For Economic Justice (http://www.foreconomicjustice.org), and an advocate and author for economic justice through broadened ownership of productive capital. Mr. Reber is a member of the Coalition for Capital Homesteading. Mr. Reber founded with binary economist Louis Kelso, Agenda 2000 Incorporated in 1967 to advocate policies and programs to broaden productive capital ownership in urban renewal projects. Mr. Reber studied economic development planning at the University of Cincinnati, University of California, Berkeley, with doctorate studies at the University of Stockholm and Royal Institute of Technology, Stockholm, Sweden. In addition to other publications, Mr. Reber, for the past 21 years, also has published Widescreen Review, an enthusiast home theatre magazine and Webzine (www.widescreenreview.com) as well as Ultimate Home Design, a "green" sustainable movement magazine, now on the Web (http://www.ultimatehomedesign.com), and is a producer of high-definition concert video specials. Mr. Reber testified March 7, 8, 9, 1973 as President of the Institute for the Pursuit of Economic Justice before The Committee On Ways And Means House Of Representatives----Ninety-Third Congress----On The Subject Of General Tax Reform.
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