---- There is a better bailout proposal that would solve most of the problems we face. It utilizes the concept that if everyone is employed in making life better for all, that we shall all succeed. This plan could have been adopted about 19 years ago but it was not. It has some very unique aspects.
Here we provide only a brief summary; details are available.
The United States announces to the United Nations and to the World that it will provide the U.N. with "credit chits" for less developed nations in amount 150 billion dollars per year. The other developed nations of the world are also invited to contribute in total 150 billion dollars in "credit chits" to the U.N. So far no actual money leaves any nation. This offer is made regardless of cooperation from other developed nations, but with cooperation it means 300 billion per year, very roughly 10 times what is provided now, a great deal of which we know is wasted.
The U.N. makes these credit chits available to democratic nations of the developing world and to those nations which are verifiably evolving toward democratic rule by non-discriminatory consensus; everyone participates. The chits are made available to developing nations on the basis of solicited application of: development proposals from them, verifiable need, and guarantees against misuse or corruption.
These chits from the U.N. may only be utilized for social and economic development, six specific self-sufficiency goals: 1) food production, 2) housing, 3) health care, 4) economic means, 5) civilian security, and 6) education and training to support items 1-5. All chits must be used for peacetime goods and services.
The U.N. will not grant chits to nations where war is likely or where violations of rights: gender, religious, human, or ethnic, are active or likely. Repressive and military governments and martial law governments will not qualify for participation in this program, nor will any nation, regardless of its size, which is not fully participating and cooperating in the worldwide elimination of: armaments of war, nuclear weapons, terrorism, and illicit drugs.
We emphasize that chits will only go to democracies or nations evolving toward democracy because historical evidence indicates that true democracies do not wage war against each other; true democracies do not even prepare for war with one another.(1)
The development proposals submitted to the U.N. by developing nations are carefully evaluated, in terms of the proposed societal, cultural, economic, and environmental impact, and protection against abuse and corruption. Is the nation verifiably moving toward true but self-defined and equitable nondiscriminatory constitutional democracy? Does the proposal truly represent the desires of a great majority of the people? Will minority rights be protected? What proof, what evidence, what tests support the proposal? The U.N. may wish to reject certain proposals or return the proposals for corrective improvement.
When a proposal is accepted and to be funded, the U.N. awards the amount in "Developed World credit chits" for peacetime goods and services. The chits must make their way back to their origin nation within two years of issue, and may pass through several nations; all must be on the approved list of democratic nations which abide by the U.N. Charter and all Covenants.
Example: Tanzania, satisfying the requirement of an adequate democracy, wishes to further expand its agriculture and tourism by improved water supplies, farm machinery, construction of tourist villages on the Mwambani Bay coast and near Ruvu Bay, and small hospital clinics in some remote areas. It has found that all the materials and consultants for this development can be obtained at a good price from India, Taiwan, and Finland. Tanzania exchanges its credit chits for those goods and services from those nations. It uses chits originally from Finland, but India and Taiwan have chosen chits which originated in the U.S. and Canada. So far no money has gone anywhere. The Finnish industries that supplied the goods and services take the chits they received and exchange them in the Finnish Government treasury for cash, to pay their workers and replenish their supply of raw materials. No money left Finland. India and Taiwan exchange their chits with industries in the U.S. and Canada who in turn exchange the chits at their government treasuries to pay their workers and continue their industry's growth. (India ordered 25 Cray computers. Taiwan bought very sophisticated medical equipment. Some chits were to go to Israel but it has not yet met the specified conditions for participation; they hope to soon.) (One of the next projects: India and Bangladesh will cooperatively work on flood control projects to control the Ganges, Brahmaputra, and Megha rivers, supplying adequate water for the fertile delta but also channeling excess water into some of the arid regions of India.) Everyone is working. No money has left any nation.
Developing nations which abide by the U.N. Charter and all Covenants, and which receive credit chits, can expect constant on-site verification and audit by U.N. inspectors, comptrollers, and visitors who will have the responsibility to see that the credit chits are used exactly as originally proposed.
Preference in the allocation of development credit chits will be given to those nations: 1) which are able to demonstrate a continuing reduction or lack of "war armament," 2) which are part of a multination cooperative regional development, and 3) which have instituted U.N. recommended educational programs designed to lead their nations through the 21st Century, rather than indoctrinating for the furtherance of international disputes and terrors.
When the chits arrive back in the nation of origin they do not go to the national treasury. They go to the nation's suppliers of peacetime goods and services, thence cashed in at the treasury, thus enhancing productivity and employment in the original nation of chit origin. Everyone works.
Each Developed Nation annually deposits "credit chits" with the U.N.; the money actually remains in the Developed Nation's treasury, until payout is due to the nation's industries. There will be great advantages to all nations who make payments into this program, and considerable disadvantages to those who can, but do not. The more chits deposited, the greater economic value accrues to the depositor; it should be obvious.