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Diary    H3'ed 9/21/17

Patriotic Millionaires

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I found, on line, two unusual organizations: Patriotic Millionaires and Wealth for the Common Good. So I sent them a proposal that they advocate for hurricane relief and local infrastructure financing, a greenback proposal. I hope they see advocacy of this as a line of less resistance than asking the rich to pay more taxes. It's based on my paper "Jumpstart America" published here.

Dear Wealth for the Common Good:

Americans need the help of prominent advocates. Why not advocate for use of the nation's wealth itself: its' currency sovereignty. Bypass the Fed.! The Congress can simply "print" disaster emergency relief funds. U.S. Notes, legal tender can be created without taxing. They can be spent through immediate grants to municipalities, without adding national debt. Congress has Constitutional authority (Art. 1 Sect. 8) to do this. H.R. 2990, the NEED Act (2011) could be re-purposed and passed. We could quickly have, say, $300 billion, for relief and infrastructure without paying bond - financing interest. Volunteer applicants for municipal pay can submit evidence of need, damage photos, a selfie, and verifiable address. Uninsured locals could be contracted, even to salvage and recycle their own home debris. Contract some homeless too! Decent wages could be paid, with no benefits or liability for such temporary workers. Over time required for salvage recycling, inflation won't be a problem.

This avoids the self -- imposed bipartisan hassle enacted out of "National Debt Terrorism" (NDT.) NDT says "the National Debt must be paid down and by cutting entitlements." NDT enabled unneeded "budget control," the debt ceiling and fake austerity. The Fed. bailed the big banks. Congressional trickle down "stimuli" failed families. Money is power. Urge Congress to take money shot(s). Our founders were not "socialists" (nor were the Lincoln Republicans) because they printed Continentals, or Greenbacks. They were patriotic pragmatists doing what was necessary to get the power of money to get armed, win independence and keep the union. Those greenbacks lost individual purchasing power, but they bought national economic independence and the power of a large, united nation. See "Jump Start America," at OpEdNews.

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I could be Bernie Sanders older brother by similarity. I was born in Manhattan, 1940, he, about a year later, in Brooklyn. I too am a white male American. A retired college professor of philosophy. We both were born of Jewish parents. I was (more...)

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