Another letter to Economics
If it may interest you, I’ve been suggesting an ethical correction for the global money creation process.
The result of including each human being on the planet equally in a globally standard process of money creation, is a global basic income, without additional cost or administration.
A rule for international banking regulation:
All sovereign debt, money creation, shall be financed with equal quantum Shares of global fiat credit, that may be claimed by each adult human being on the planet, held in trust with local deposit banks, administered by local fiduciaries and actuaries exclusively for secure sovereign investment at a fixed and sustainable rate, as part of an actual local social contract.
Looking at a Share valuation of $1,000,000 and a sovereign rate of 1.25%
That fixes a sufficient, per capita, maximum to global money creation, makes $1,000,000 per capita of 1.25% credit available for secure investment, locally, globally, and we each earn an equal share of the 1.25% fees collected, on all existing money, permanently.
Since the fees paid to create and maintain the existence of money are paid to each of us as Basic Income, automatically, through our sovereign trust accounts, there’s no additional cost to States.
Since it’s international banking, State sovereignty is still subordinate, but not affected. Any political structure may be expressed as a local social contract, so all existing States retain what sovereignty they are bestowed, or sufffered, by their citizens.
Each citizen though, is included structurally as equal financier of our shared global economic system. (major positive psychological perspective change, and assured basic income for life)
The existing system is funtionally unaffected, beyond the source of credit, and who gets paid.
Deposit banks still make loans, but loans creating money must conform to the rule, and money will be drawn from our Shares in trust. Central Banks will borrow State money into treasury from our Shares in trust, and manage State accounts, without the unnecessary, and unstable complications of bond and money markets. Or the theft of our option fees.
Appears the revolution can be largely administrative.
Deposit banks create products that include sovereign trust accounts, and communities draft local social contracts based on ubiquitous access to 1.25% money, existing, and new law, pretty much as part of normal business, so it doesn’t cost much to implement.
Wealth doesn’t lose any property, only the coercive property of money.
Ideal money is a fixed unit of cost for planning, stable store of value for saving, with global acceptance for maximum utility, and nothing else.
Simply fixing the cost of creation and maintenance establishes a stable unit of cost, and store.
Global acceptance is ethically provided with express agreement, and compensation, of each individual human being on the planet, by social contracts.
I’ve been asking, Economists: “Can you provide a moral and ethical justification for the current process of money creation?”
As yet, none have justified the fact that Wealth may borrow money into existence from Bank, buy sovereign debt for a profit, and have State force humanity to make the payments on money for Wealth. Instead of borrowing it from us.
Karl Widerquist actually told me the question was incoherent.
The rule appears to provide moral and ethical justification for the corrected process.
I also haven’t encountered logical argument against our equal inclusion, after more than a decade of soliciting.
That’s kinda confusing, and unsettling.
I’d appreciate any illumination you could provide.
Thanks for your kind indulgence,
I hope they get more effective
Maybe a couple thousand more…