A People's Bail Out

[Blue Meany]

Things are have gone so far down the wrong path, I have been trying to think about what it would take to set things right. This is the idea that I am working with:

First, we take back the Fed's right to create money. We can't abolish the Fed since it's a private organization, but we can take back monetary sovereignty. We create a govt. controlled central bank to fill this function.

Then we launch a new currency controlled by the govt. Everyone has a right to trade in up to but more than a certain amount, say a million dollars, of existing legal tender. And everyone automatically gets a $100,000 or so of the new currency.

This would help under-water home owners, provide a incredible stimulus, and even the playing field a little bit.

Of course the 1% would still be super-rich, since most of their assets are not in currency. And it's still a pie-in-the-sky idea. But I'm just trying to think about what it would take to give everybody a second chance--sort of like folding up the Monopoly board and starting a new game.

[itsallhappening]

1. And what do you think instant, free $100,000 x 300,000,000 would do to prices?

[Vincardog]

2. Better to institute a minimum income for everyone financed by a financial transaction tax of 1% That

would be 1% of the face value of the instrument.
Say a 1 Billion derivative was sold by a parasitic financial master of the universe.
They would owe 10 million for the tax.
This would put a quick end to a lot of the financial shenanigans.

[a simple pattern]

3. But they would weasel out of it as they control the mechanisms of collection

[Vincardog]

4. Then their financial instrument would be invalid. Unenforceable in our or anyone's court