alajac

The Bottomless Money Pit

What the `bailout of the bastards` is trying to do is add layers to the top of an ice cream cake that is losing layers on the bottom faster than they can be added on top because the cake is sitting on a very hot oven. What is heating the oven is the ongoing destruction of credit. (In other words, the destruction of the additional debt-money that banks were able to create from making loans based upon new reserves originally created by these now-bad loans.) This ongoing `destruction of credit` is resulting from masses of people becoming unable to make their debt payments. When a few people run into trouble they can willfully be left by the bankers to die by the side of the road, no problem, but when the masses start defaulting, the bankers` cake melts. Rather than fight reality (as the bastard bailout is attempting to do), the first thing we need to do is to GET THE OVEN COOLED OFF. We need to get money into the hands of the people who need it and are going to spend it, not into the vaults of people who don`t need it and who can afford to save it. This is what the HOW TO FIX THE ECONOMY plan does `IN SPADES`. We could do the same thing using Federal Reserve money, except that would be fricking stupid, resulting in us owing trillions of dollars (plus interest) to the bankers for helping them out of the hole into which they put themselves. How long are we going to continue to be fricking stupid?

the short version of HOW TO FIX THE ECONOMY

- Create a modern and national equivalent of the most stable currency America ever had, Colonial Scrip (paper fiat currency, backed by nothing).

- Put it into circulation via $1000 monthly distributions to every legal US resident
(similar to what was done with the 2008 Economic Stimulus Rebate money). (Distributions for minors to be held in trust.)

- Replace the Federal Income Tax with a small debit tax on electronic transfers, equally applied to all including foundations, trusts, and churches (avoidable by use of cash or barter). Adjust as necessary to deter inflation. Use Fed dollar proceeds to reduce the national debt.

- End any and all other Government-sponsored Personal and Corporate subsidies, especially including any Federal Minimum Wage laws as well as FDIC and any other form of risk insurance. All risk needs to be personalized, not socialized.