Please consider: The response to The global Financial crash, every where, has been to literally "print or keyboard" money estimated to be in the hundreds of trillion of dollars, in order to "rescue" the big Banks and financial institutions, those responsible for creating the crash, however, the correct response should have been "bankruptcy" for the financial gigolos, and implementation of my long-time proposal for THE UNIVERSAL ECONOMY. The main purpose of THE UNIVERSAL ECONOMY, is to create "Social" capital in order to eliminate Poverty; as you read you will understand that the rich and powerful already have their version of THE UNIVERSAL ECONOMY but it only serves those who need it least."Please now read and judge for yourselves; whereas bailing out the financial and banking institutions is certain to create hyper-inflation, money "printed" and spent into the grass-roots of domestic economies will not.Please read it all.
All Nations of the world must take back their Sovereign rights that enable them to create their own supply of domestic, Interest free, Debt free, Social Capital and to create a State Bank, to create and issue all Democratically mandated "Social Capital" ; one American State (North Dakota) does this and is free of the financial woes depressing the rest.
This first step eliminates untold quanta of inflation and Government debt.
Every Sovereign independent Nation, or co-operating group of Nations, will then use this Social Capital to totally eliminate Poverty and deprivation in their communities by issuing to all that need it a Social Wage, structured to provide a basic break even living standard, a wage that will continue until death. This forms the basis, the bed-rock of a stable, consistent, trickle-up economy.
The Government will finance all conceivable Public Support and Infrastructures, Health, Housing, Education, etc.
The Social Capital so created will be the sole means of financing the Nations Money Supply, it adjusts automatically to population levels. This will become a "trickle Up" economy, replacing the nonsense of trickle down.
No Capital or subsidy will go to Private Enterprise directly, for if it did it would cause serious inflation.Capital issued and "spent" into circulation, as described above, would not create inflation.
There would be no interference with Private Enterprise. The Private Sector could employ those in receipt of the Social Wage by offering wages and hours of employment capable of inducing people to do the work offered; the wage so earned would supplement the Social Wage, not replace it. Thus inducing mutually agreed conditions at much lower wage costs to employers.Will this not help negate the export of jobs to China etc.?
Thus far no or very little taxpayer money has been expended. The burden of support for the poor and the provision of social and community infrastructure has been lifted from the backs of Corporate enterprise and the wealthy.
Control of Social provision has passed out of the hands of those not willing to vote for higher taxation to facilitate it. Working people are no longer at the total mercy of Market force gambling, that all too often deprive them of livelihood and take away hard won assets such as homes and pension funds. Working people can more easily change employment to escape unsatisfactory masters and conditions.
Price and cost inflation will be substantially reduced by ceasing tax collections from wage and salary earners, to include abolition of any sales taxes, G.S.T., and V.A.T.. Instead individuals will pay tax only once, and that when they are deceased, when the taxman will be empowered to asses deceased estates for tax liability. Avoidance will place the whole estate in danger of confiscation. Is there a better, or more equitable, system or time to pay tax, other than when we are dead?
Corporations and all other commercial enterprise will pay an annual flat rate tax levied against total net profits. Avoidance and imaginative minimisation schemes will not be allowed. Tax allowances will be strictly limited to running, operating,overheads and development expenditures.
Government will not subsidise free enterprise, this great engine, by it's own rules, must stand or fall on it's own merits.
The value of Sovereign currencies, exchange rates, for international purposes will be decided by co-operating Governments, taking into account the requirements and relativities embedded by consent in trade agreements, indicated by Supply and Demand and moderated to avoid damaging competitive pressures or disruption to home markets. Exchange rates will be fixed, stable, out of the influences of manipulators and traders.
There is much more to be said in explanation, however your own knowledge and experience will enable you to foresee the many attributes such a system delivers. My title for it is "THE UNIVERSAL ECONOMY" for it will work anywhere and for every person, fairly and equitably.
A very small "coterie" of Bankers and money power people is holding the world to ransom, they spend untold quanta of money spreading lies about the evils of Social Capital, for their own narrow purposes, populations around the world are in mortal danger, somehow the money power must be defeated.This defeat will come about when we elect independent politicians who will change our system from being representative to being participatory, and we return the Economy to one operating on "sound money", circulating in THE UNIVERSAL ECONOMY. This formula, most importantly,takes care of the constantly increasing costs due to population growth and other demographics.
Have you read this far? then you have my thanks, your commentary would also be most appreciated.
Regards, Thomas W. Adams.