Share on Google Plus Share on Twitter Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 1 (1 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Stats   4 comments

Exclusive to OpEdNews:
General News

How to solve our money and banking problems -- forever.

By (about the author)     Permalink       (Page 1 of 2 pages)
Related Topic(s): ; ; ; ; ; ; ; ; ; ; (more...) ; ; ; ; , Add Tags  (less...) Add to My Group(s)

Well Said 1   Supported 1   Valuable 1  
View Ratings | Rate It

opednews.com

Become a Fan
  (1 fan)

THIS IS OUR SILVER BULLET PLAN for using the natural wealth of our nation wisely to solve our current money problems. This is the culmination and summary of our plans A through D.

The natural wealth of this country is embodied in (A) our land, (B) our knowledge and (C) the various skills of our people. With proper management, we can produce whatever food and material goods we need many times over. We suggest it is wise for our country to have complete confidence in (A), (B) and (C) and follow the plan below.

THE ECONOMIC PLAN HAS 10 ITEMS (the previous 14-points were combined into 10)


Home Mortgages

(1) Pass laws that will prohibit mortgage-issuing banks from selling off the loans they provide for mortgages. That will insure that the lenders want the loans to succeed and be paid off. It will make sure that the lenders are prudent. That should stabilize the future housing markets by removing the temptation to "bundle" mortgages into strange financial instruments. The lenders will have to learn to live on the interest from their loans. That should not be difficult -- it was always the way things were done in the past. Had that been a law 10 years ago -- our banking and money collapse would probably never have happened -- the old-fashioned system of house mortgages would have essentially guaranteed good loans by a vigilant local-bank system of lenders.

Lending banks must have some skin in the game -- that will tend to keep them prudent and honest. The formation of Freddie Mac and Fannie Mae (they were formed to buy loans from banks) was, in our opinion, probably the biggest domestic management blunder of the Federal Government over the last 50 years. We believe that fact led directly to the current (early 2009) economic meltdown.


Banking and Lending

(2) Congress should encourage the establishment of grassroot, local banks by common people and groups of people -- such as community organizations, Credit Unions, homeowner associations, charities and such. That would practically guarantee a stable, competitive banking market. As we read the Constitution (see A & B below), it gives that right to the people. (A) From Section 10 - Powers prohibited of States --"No State shall ... coin Money; (or) emit Bills of Credit ... (B) From "Amendment 10 - Powers of the States and People.

3) Change the Federal Reserve to "manager / bankers" who will follow new Constitutionally-oriented rules which will be set down by Congress. Take away their money creating powers which were "farmed out" to the FED in 1913.

(4) Follow the Constitution and return the MONEY CREATING power to Congress. That will mean Congress can print whatever money our country needs for wealth producing assets.


Budgets and Spending

(5) Spend government money in the future only on things that will create wealth and provide a 20% annual return on the expenditure / assets. Most good companies consider a 20% return on their investments very conservative. There is no reason our country can't get that level of returns.

(6) Realize that (A) good health care, (B) good education (including libraries) and (C) adequate housing are always worthwhile wealth producers. Healthy, educated, secure people are more efficient wealth producers. The government should spend whatever is needed in those three areas.

(7) The Government should never borrow money. It has the Constitutional and Sovereign power to print whatever money it needs (as do all sovereign nations). To borrow money is almost insane if you can create it. See <http://www.primeronmoney.com/lincolnspolicy.html> for Abraham Lincoln's monetary policy.
(7.1) Ignore those that will say that printing money is inflationary. That is nonsense. If the printed money is spent on wealth-producing assets it will be neither inflationary or deflationary. On the world money markets our dollars should seek their natural level of value. If we are efficient and wealthy -- our dollars will be worth much. If we are laggards, our money will be worth little. We should not be afraid of international wealth-producing competition. Challenge the rest of the world to a wealth-creating competition. Pay off all debts immediately with our newly printed money and never go into debt as a nation again. That simple act will save us about $400 Billion dollars / year in interest charges.
(7.2) The government should issue bonds that can only be purchased by American citizens in order to (a) encourage saving by the public and (b) give the public a safe place to invest their savings. This will essentially be a subsidy to savers. Under present rules, existing bonds can't be sold only to American citizens -- thus the bond interest rate can't be adjusted as needed to benefit the American economy without allowing foreign countries to take advantage of the benefits aimed at our citizens.

8) Embark on a bold program of wealth generation by investing in basic water-oriented infrastructure to (a) turn seawater into fresh water and (b) build a nationwide system of pipes and pumps so we can deliver the water efficiently wherever it is needed for irrigation, personal and industrial use. At that point, we will probably be able to feed half the world and turn food into various forms of wealth through trade with other countries. Water is our most undervalued asset. Mix water with seeds dirt and you can get (a) delicious food, (b) valuable building material, (c) versatle material for clothing and (d) magical trees that efficiently convert Carbon Dioxide to Oxygen, thus helping avert the threat of global warming.
On 2/4/09, Jim Tankersley of the L.A. Times reported from Washington -- "California's farms and vineyards could vanish by the end of the century, and its major cities could be in jeopardy, if Americans do not act to slow the advance of global warming. Steven Chu, U.S. energy secretary warns, 'We're looking at a scenario where there's no more agriculture in California,' "
<< http://www.latimes.com/news/local/la-me-warming4-2009feb04,0,7454963.story >>


Education

Next Page  1  |  2

 

Take action -- click here to contact your local newspaper or congress people:
Fix our money and banking problems

Click here to see the most recent messages sent to congressional reps and local newspapers

Retired engineer, product and business developer, inventor (six patents). Currently (a) trying to completely understand our money and banking systems and (b) planning to pass that information to the American public. Photo is ca. (more...)
 

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon

Go To Commenting
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact Author Contact Editor View Authors' Articles

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Is cholesterol dangerous?

How to stymie corporate political lobbying and advertising

Solve our Home Mortgage, Money and Banking Problems through Community Banking Plan

How did Paper Money come to be?

I am Changing my mind on Fractional Reserve Banking

Myths. hoaxes, misdirection and just plain silliness about Money and Banking

Comments

The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
3 people are discussing this page, with 4 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)
Having the federal govt explain economic programs ... by Margaret Bassett on Sunday, Sep 27, 2009 at 6:44:36 PM
You are absolutely right.Government edicts are bas... by Martin Carbone on Monday, Sep 28, 2009 at 7:45:15 AM
September 27, 2009How to solve our money and banki... by liecatcher on Monday, Sep 28, 2009 at 8:43:06 PM
We can't just give up!!!Check out my website <&... by Martin Carbone on Tuesday, Sep 29, 2009 at 11:00:05 AM