If we do not get Pension Reform done right, we will be losing tens of millions of Canadians, Americans and Europeans over 40 years of age to starvation and healthcare Death Panels. Depressions are caused by the accumulation of Unpayable Debts through fractional reserve banking and the charging of interest on money created out of nothing by bankers. There are three ways out of a Depression. One is by Hyperinflation (Weimar Republic). Another is bankruptcy and default on bad debts (US 1930s). A third way is to systematically cancel bad debts on a scientific basis. If we choose systematic worldwide Debt Cancellation over a Lost Decade, we could save the lives of more than a hundred million people over 40.
I have written of Debt Cancellation before. Today I want to emphasize pension reform. It will take power from Wall Street and generate growth.
The United States has spent hundreds of billions of dollars on secret scientific research since the death of Nicola Tesla in January of 1943. Tesla invented alternating current generators. When he died, the US government seized 155 crates and trunks of his scientific research. The US has planes that fly 40,000 mph (64,384 kmh). There is evidence that the Secret government has what I would call a Universal Vaccine. It seems to have been used to improve the health of select wealthy individuals including people with AIDS. If you smelt metals in the zero gravity of space, you get new and unusual properties. Glass becomes as strong as steel. This is according to a former editor at Popular Mechanics. Suppose you had the ability to create a superconductor. What would that do when combined with 70 years of heavily funded secret research to produce free energy? Years ago I read about the B2 bomber not having sufficient thrust to fly and that the plane must be using anti-gravity to help lift it off the ground.
I want all of those patents from the Secret government to be given to new corporations. Each corporation is to be given a billion dollars or more in credit to create new industries. I would want 100% of all shares to be given to adult non-custodial American citizens. A typical citizen under retirement age might receive one share of stock in each of a dozen corporations. Current retirees might not benefit from growth stocks and would have to be content with assets seized from Financial Criminals. For the benefit of new readers I favor the invasion of Lichtenstein, the Cayman Islands and other banking havens to seize the tens of trillions of dollars stolen from us.
I would select a group of scientific managers to run these corporations. Most of the value of a new company is given away at the time of the IPO (Initial Public Offering) and afterwards through stock compensations offered to key executives. A case in point would be Microsoft which started at a par value of $10 and went to almost $50 on the first day. That means nearly 80% of the par value was stolen by Wall Street on day one. Max Keiser said he used IPOs to compensate clients whose accounts he had looted. After the 7th stock split the value of Bill Gates shares went to $95 billion. Paul Allen had $20 billion in Microsoft stock. And that was for Microsoft corporation which never delivered a product without a few thousand bugs. Imagine what would happen to the value of shares in companies that actually had products everyone in the world wanted.
For the mathematically challenged, I should point out that if a stock splits 7 times, it has increased 2 to to the 7th power in value. That is 128 times its par value. If you do not let Wall Street and Inside Executives to siphon off most of the value, your holdings will increase 200-fold.
Clearly, under the current regime the majority of an IPO’s stock value is stolen. Since these are our retirement funds, we cannot allow such theft in the future. Hopefully, a typical retiree in 20 years would have a share in ten different corporations that would increase 200 times from its par value of $100. That would be $200,000. Twice that for a married couple. Some of my other reforms would cut utility bills by 2/3rds. I would also eliminate property taxes on owner occupied homes. Contrast that to the present reality facing retirees which is a nightmare.
I would give each of these new companies a billion to three billion dollars in a zero interest credits. And I would not require any payments until two years after the new plant and equipment is up and running. Of course I would not give credits to anyone who builds new plants overseas. We will never get out of debt until we create tens of millions of high paying jobs.
Think of prices as a ratio of the Money Supply to the total output or GDP. If we increase output at 5% a year, we can increase the Money Supply by 5% and have a constant ratio of Money to GDP so we will have stable prices. Inflation would no longer transfer wealth from us to the bankers. We can spend that money into circulation. I would spend $200 billion a year on infrastructure. I would give $100 billion a year to the 50 states based on population. A state with 6 million people or 2% of America’s 300 million citizens would get $2 billion a year to spend on infrastructure including schools. I would match that with $100 billion in federal grants for the 50 states. America needs to spend $4 trillion on roads, bridges, dams, levees, schools, water projects and sewers to keep the United States from becoming a Third World country.
If we combined this with a cancellation of federal, state and local debt, we can see that it is possible that we could repeal property taxes on owner occupied homes.
I should emphasize something I have written about before on Pension Reform. I want to make pensions or the promise to pay you something at a future date illegal. What I propose is that any such retirement payment be given you today in its present value into an account in your name at a cooperative trust association. Nobody from either Wall Street or the government should be allowed to touch your retirement funds.
No politician would pay attention to billionaires after the trust funds have trillions of dollars. This will permanently shift power away from the bankers and the lawyers.
My regular readers know that I favor worldwide Debt Cancellation. I would give every adult American citizen $20,000 to cancel their debts. Some couples might want to use their $40,000 as a down payment on a new home or debt reduction from the principal of an existing home. Removing their property taxes and cutting utilities by 2/3rds will make both home ownership almost universal.
I would also pass a Homestead Act for abandoned homes. Instead of allowing real estate developers to grab all the profits, I would have each city or county sell off abandoned homes for taxes owed to people who will repair and occupy them. This will turn around neighborhoods.
We could give married couples zero interest credits to buy homes or to re-finance existing mortgages. If we ended fractional reserve banking, we would lend depositors money at 5% and blend that with 90% federally created credits. The interest rate charged homeowners would be around 1%. 90% of the payments homeowners make would go to pay off Social Security.
This would not be as inflationary as you think. If you had a $100,000 on a loan at 4%, you would cancel that loan and get a new loan for the same amount at 1%. The total Money Supply would remain unchanged. The only difference would be that your monthly payment would go down.
Another area of interest is the dwindling number of family farms. The average age of a farmer in America is 57. I would give zero interest loans to small farms. I would finance aquaponics and hot houses to give us safe food to replace what we might otherwise lose to radioactive fallout from Fukushima.
For the benefit of new readers I should say that our problems began when bankers were given the right to charge us interest on money they created out of nothing. We need to issue a non-interest bearing currency like Lincoln’s Greenbacks. We also need to cancel all government debt everywhere. And we need to cancel substantial amounts of personal and corporate debts. I would fund a lot of Debt Cancellation by seizing the assets of the Uber Rich War Criminals in the Cayman Islands, Lichtenstein and other banking havens. America also has tens of trillions in hidden government assets that can be used to pay off pensions and to cancel government debts. (See http://www.CAFR1.com.) I would also seize all real estate, stocks and bonds owned by Financial Criminals.
There is a path out of this current Depression that does not require the genocidal killing of half of the people over 40.
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