Friday, May 20, 2016

Turning the national debt into a spendable asset

The Robin Hood legislation is designed to retire Treasury bonds and redeem them for other assets via a "Federal Credit Receipt" (FCR).  The redemption goes through channels (State & local Commissions), rather than financial predators swapping assets for USD and creating inflation.

The legislation has 3 parts:
1. State legislation to create a "Credit Review Commission" as part of the State Treasury.
2. Federal legislation to define a "Federal Credit Receipt" and a division of the US Treasury.
3. Constitutional Amendment separating money creation from Federal authority.

The good:
- $19 trillion to spend on the economy and infrastructure
- Provide an outlet for retiring the national debt
- Maintains the bond and derivatives market
- Prevents inflation and allows Treasury and Federal Reserve oversight
- Protects against financial predators
- Maintains the value of the dollar
- Creates jobs around the country
- Supports the military's need for financing

The bad:
- facing the psychological denial of being in debt

The "Credit Receipt" applies to all debt instruments, so $200+ trillion.  This would work to solve Puerto Rico's recent debt crisis.  I am hoping Texas can catch up as it can become a clearing house for $200 trillion as we transition from debt-based currencies on planet earth.  We are currently in a slow-motion Venezuelan Bolivar situation, and I am trying to warn and provide the solution.

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