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Forum Post: Proposed Economic Agenda For OWS

Posted 12 years ago on Oct. 16, 2011, 12:39 p.m. EST by UnifiedVoice (53)
This content is user submitted and not an official statement

ECONOMIC AGENDA OF THE OWS MOVEMENT-Written by Michael Vilkin, and edited/presented by UnifiedVoice

  1. Create a Central Bank of the USA, owned by the federal government of USA. Assets of the Federal Reserve System should be nationalized with fair compensation to owners of the regional Federal Reserve Banks.

  2. The Central Bank of the USA should have effective tools to control our economy. At the present time the Federal Reserve can only buy Treasuries and other assets, increasing in the process reserves of the commercial banks, but the Federal Reserve can not force commercial banks to make loans.

  3. Commercial banks should not be allowed to own investment banks. Otherwise, commercial banks have incentives to cause a downturn in the economy. For example, Bank of America has incentives to cause economic depression so that Merrill Lynch will be able to buy financial and real assets at a deep discount with funds provided to Merrill Lynch by Bank of America.

  4. Require politicians to seek out economic advice before they pass laws influencing the economy. Politicians are debating economic problems, but most politicians have no training in economics and no experience in business. Politicians only say what their masters - the campaign donors - tell them to say. Members of the Congress and Senate should not be allowed to debate economic problems. The lawmakers must seek economic advice from economic experts from leading universities.

  5. Commercial banks must be obligated to provide construction loans on a steady basis to prevent booms and busts in the construction industry. If the biggest commercial banks do not accept such responsibility, the Central Bank of USA should create a commercial bank owned by the government of USA. The government-owned commercial bank will get it's capital from the Central Bank of USA to provide loans for large projects like construction of new communities or improvement of existing communities.

  6. The Federal government should sell some of the land owned in our western states to private developers for construction of new communities. It takes only land and financing from commercial banks, private or government-owned, to create millions of jobs in construction and related industries in a matter of months.

  7. Open an investigation into where the money from the sub-prime mortgage crisis went. Every firm on the Wall Street lost money in sub-prime mortgages. That is evidence of very creative accounting. If someone lost a dollar, someone else found that same dollar. Like energy, money does not disappear. Yet, hundreds of billions of dollars, lost by investors, disappeared in the Wall Street black hole without a trace. Congressional hearings are needed to determine who are the new owners of hundreds of billions of dollars that left their old owners but never arrived to the new owners.

  8. A prerequisite for running for office should be some knowledge of economics; at the very least some kind of introductory course.

  9. No Wall Street funding for campaigns. Both parties - Democrats and Republicans - are owned by the Wall Street. To reduce corrupting influence of the Wall Street, presidential nominees should not be allowed to take any money from Wall Street. The presidential campaign should be publicly funded, and the media must give both candidates equal time.

  10. Let's stop blaming China for affordable jeans and shoes we all need and enjoy. Our economic problems are located on the Wall Street, and not in China. Let's start construction of new modern cities with modern public transportation before the Chinese find a way to export them to the US. We can create millions of jobs and we can improve our standard of living and quality of life.

  11. Campaign transparency. Nonprofit and business funding for political campaigns should be freely released to the public, and trials should be opened if there is a question as to whether campaign funding from nonprofits or businesses is given with the intent to change the way a candidate will vote.

Please feel free to comment or add your thoughts. This is, after all, only a proposal, and will go nowhere if it is not capable of garnering support from the people.

54 Comments

54 Comments


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[-] 2 points by publicus1 (125) 12 years ago

Please join our Working Group which had it's first meeting at OWS on 10-15-11 following its announcement at the General Assembly. We need to concentrate our resources with the people in the Working Group so that they can report back to the General Assembly.

https://sites.google.com/site/the99percentdeclaration/

[-] 1 points by number2 (914) 12 years ago

This working group does not seem very non-partisan to me. I like many of the suggestions but I don't see why environmental issues are tagging along. A carbon tax will make our electric bills go up even further and those issues will make the 99% become the democrat party alone or 20 to 30%

[-] 1 points by cmt (1195) from Tolland, CT 12 years ago

Scientific literacy must be present in the group that included environmental issues. Life will be very much degraded if the environment is not protected, and the profit margin improves when costs are dumped onto people at large whenever poisoning the environment is cheaper. And - it's nearly always cheaper - for the corporation.

[-] 1 points by number2 (914) 12 years ago

99% are not that concerned with it. I think it's a distraction

[-] 1 points by cmt (1195) from Tolland, CT 12 years ago

I guess we just disagree on the level of interest in the environment. I think people do care but feel hopeless about change, and are stressed by the current economic woes.

You think they aren't that interested. Time will tell... stay tuned...

[-] 1 points by number2 (914) 12 years ago

I'm more concerned with keeping this non-partisan and trying to get the most people involved as possible. That's generally a left-wing issue.

[-] 1 points by cmt (1195) from Tolland, CT 12 years ago

I know that it's that way among the professional politicians, but the polls show that many registered Republicans do care, depending on how the question is phrased.

I also hope we can work together on the issues where we actually overlap.

[-] 1 points by number2 (914) 12 years ago

I care about the environment too. I'm not interested in living anywhere close to Fukushima. But the carbon tax would cause more suffering to the poor.

We overlap on most of the issues, despite what the media says.

[-] 2 points by IndenturedNation (118) 12 years ago

Overall I am more in agreement with this set than any I have read so far. #2 would recommend instead creating a power to counterbalance the Fed. There are ideal ratios of valuations, GDP, aggregate debt and actual capital that are not currently understood by economists. The Fed does not have the correct incentives to optimize those ratios and a new power will inevitably become necessary to counterbalance Fed power, even if that is not generally understood right now just worrying about inflation is an oversimplification that is already creating problems. The real problem doesn't have to do with who owns the Fed. #5 is interesting. It would be like having a USPS, but with banks. How would this be different from Fannie Mae & Freddie Mac?

[-] 1 points by mikevilkin (6) from San Diego, CA 12 years ago

The Fed should be nationalized. Period. The Fed is a social club where banksters meet for small talk. If they share a view that the economy is weak and making loans is risky, orders to tight the credit will go down the chain, and the economy will become even worse. Bank of America actually has incentives to create an economic depression.

5 represents a very simple idea. Any loan increases M2 money supply. But a loan TO BUILD a house creates jobs, while a loan TO BUY a house only increases inflation.

It will be very different from Fannie Mae & Freddie Mac. Fannie Mae & Freddie Mac were BUYING loans, facilitating the BUYING process. The government-owned commercial bank will make loans TO BUILD, will keep the loans on its own books, and will not sell those loans to Fannie Mae & Freddie Mac. Sorry for the bold paragraph, I can not make it regular.

[-] 1 points by UnifiedVoice (53) 12 years ago

As I said, it is really Michael Vilkin who wrote these, so he would likely do a better job of answering your question than I would. With that said, what I believe this suggestion to mean is that the Central Bank of USA would have the power to deal directly with people, and could control loans to prevent fluctuations in markets like construction. This would make it different from Fannie Mae or Freddie Mac because these institutions mainly deal with other banks, and a direct link to the people would have more influence over the market. Like I said, as Michael wrote the specific points, he would likely have a better answer for you, and I'll be sure to ask him your question and will relate his answer to you once I have it.

[-] 1 points by 666isMONEY (348) 12 years ago

I like point number 7 but:

Problem is the wimpy "demands" and solutions being proposed are not radical enough to deal with global warming, 7-billion ppl on the planet, the funny-money games on Wall Street and peak oil. The only real solution is too abolish money but I don't see that happening.

http://666ismoney.com/MoneyQuotes.html

Time to get outta Babylon before it falls. Life as we're living it is not sustainable.

[-] 1 points by TomHall (58) 12 years ago

“TOCSFAE” IS TOXIC TO THE BANKERS

From the beginning when our country was formed we face many challenges and many opposing views

Just like today however, the peoples voices have been silence by special interest groups as well as the over whelming power grab by the bankers. Your demands/petitions will never be heard or taken seriously unless lobbyist/corporate have bless it for greedy reasons or Co-Opt it.

It is time for a fair hearing!

Wouldn’t it be great if you can be heard, fairly and equally? Wouldn’t it be worth your time to know there is a petition list, worth signing rather then getting involved in so many other worthy causes? Can be a drain, especially knowing many of lists of issues will mostly not be look at or simply be voted downed.

It can also be time consuming.

This is were the 7’step plan an ever growing list known as the “TOCS FAE” doctrine helps just about every cause, the cause that helps almost all other causes should be supported. These step plans, solves many of the roots of all our problems we face.Whether you have protested at the gas pump or you are an Occupier and Tea Partier, for that matter any protest mover, make your protest have meaning, give it the teeth it needs beyond the gas pump and over the protest lines.

This petition will be a notification to congress of things yet to come and to properly prepare.

As of January 2012 we the people

We will not take the abuse anymore and neither should they walk around with there heads in the sand.

We will begin the process of phase one

Your petition will go to congress, informing them you support The “TOCS FAE” Doctrine and so should they, by making preparations for receiving and forwarding income Tax mail. Your petition will also go to the top corporations letting them know of our intentions and they too should support and act by sending their taxes directly to congress. They should also be informed if our demands are not met protests will be under way the likes they have never seen.

After this is achieved and we have broken the back of a few select Corporations we will move on to Step1 Taxes which may take months or up to a year

Step1) Send your TAXES to a trusted congressman or congresswoman which maybe hard to find in your state. Make a Petition with your neighbors. Phone, email, fax your congress your list and intentions. Prepare your taxes, made out to the I.R.S check and envelope, and a stamp. Fit it in inside of a bigger envelope, onto which you should write congress address, preferably your state congress.

Example

Washington, DC 203 Cannon House Office Building Washington, DC 20515 Phone Number: (202) 225-2831 Have congress unwrap the envelopes, state you want your taxes to be mailed to the I.R.S

If you are asking yourself, what will this achieve first it can be used as a bargain chip however, congress cannot spend it or over take the fed reserve and banks system over night, nonetheless this will indeed give teeth/meat, back to congress. You should include a sign return receipt so as to show proof you paid your taxes.

For the rest Click http://inkrumguardians.webs.com/

Occupy funny pix http://inkrumguardians.webs.com/apps/blog/

If you are interested in expressing this message to Occupy General Assembly you should present the "TOCFAE" Doctrine in David Ferola's name, and claim you are him, for solidarity purpose.

That includes woman and children

[-] 1 points by SparrowElle (4) from Riverside, CA 12 years ago

Some of these are pretty good, but 4 basically creates a new kind of mandatory lobbying system instead of opening the debate up more between leaders and the people. If all you need to do is get a piece of paper saying you're a teacher in order to FORCE a senator to talk to you and listen to your policy pitch, then you're going to start seeing a lot of corporate "teachers" who only ever hold classes on golf courses or in hotel bars. This would end up even further limiting access to politicians, though I agree that legislators should, as a part of their job, be required to listen to different perspectives by various economists from private, government, and academic backgrounds.

[-] 1 points by FRheannon (1) 12 years ago

There is overwhelming support (in the 70's%) for environmental protection. Without an healthy environment, there is no healthy economy. Period. And, speaking as an economics writers, I can assure you that environmental protection generates jobs, environmental regulation creates jobs, and the win-win is that focusing on EP would not only boost employment but also assure our and our children's future.

[-] 1 points by PublicCurrency (1387) 12 years ago

Revoke "fractional reserve lending," the enorrmous privilege of private banks to create our currency from thin air - via computer keystrokes. Yes 97% of our currency is actually a bank loan. Even our bills are loaned from the Federal Reserve.

We pay interest to private banks for the use of our own currency.

[-] 1 points by ClaireVoyant2 (2) 12 years ago

The corruption of our government by monied interests cannot be looked at in a narrow 'banking' context without also considering long-corrupted policies of trade, taxation, and the war machine.

Ignorance and corruption cannot be addressed by requiring politicians to seek advice of leading professors or take Economics courses (#4) and (#8). All too easy to find ideologically-motivated junk economics and economists whose theories persist although discredited by evidence of history. Much more practical to require pols to take history classes on the economic and social causes of revolution. Not sure that many of them would have the wit to comprehend the material.

Consider the following proposal:

1) Separate lending from casino speculative operations; re-instate Glass-Steagal. No ZIRP/ infinite access to M1,M2 or M3 for casino operations masquerading as investment houses.

2) Raise margins on speculation, prohibit speculation by hedge funds and investment houses on essential commodities such as wheat, oil, and gas. No bailouts from taxpayer money for speculative operations.

3) Consider the Fed as culpable in the crash, and set about reforming it. Number 1 on this agenda is to nationalize it (the Fed is now a private institution). Seen in its true role of a private institution serving private interests, the Fed's historical role in causing and encouraging economic and speculative bubbles will at last be laid bare to the scalpel of reform operations.

4) Demand an immediate and orderly global writedown of all public and private debt. Debt is a claim on future goods and services. Recognize that given state, national and world GDPs, public and private debts are unpayable for many generations. The bondholders must take a haircut.

5) Institute usury laws.

6) Institute Fair Wage laws with severe tax penalties for those in violation.

7) Set tax policies according to guidelines for Fair Wages that limit executive compensation, including non-cash benefits, to a multiple of the company's lowest-paid employee, anywhere in the world.

8) Companies must pay for fair access to the US market. Tarriffs for goods and services produced abroad to eliminate the tilted playing field produced by currency manipulation, violation of Fair Wage, and violation of the environment.

9) Recognize that all natural resources, including clean air, potable water, mineral rights, timber, geothermal, etc. are public property and part of our inalienable right to life,liberty and pursuit of happiness. Companies must pay for the right to bid, and proceeds of these bids and payments must be distributed to the people, either in the form of resource replacement (re-planting), subsidies of renewables (investment in solar, geothermal or wind in exchange for oil or gas pumped), or tax relief. Payments must be distributed within 2 years of receipt.

10) Void the leases on geothermal now held by oil interests, which keep geothermal energy from becoming a reality in the interests of pumping up their profits from oil and gas. Invest money from non-renewable oil and gas bids in geothermal, which will be run as a non-profit utility.

11) All wars must be paid for by special tax. War spending must be considered as a separate category, and revenues from the general purse must not be used for war spending or undeclared military adventures.

12) Withdraw from the Bank of International Settlements and the IMF, whose policies serve to siphon wealth from citizens around the world and transfer it to the pockets of the ruling elites.

13) Steeply progressive tax rates to prevent the accumulation of wealth at the top. Favorable tax treatment for earned income (wages, stock held by company's founders, early investors and employees). Stock cashed in by founders' descendents will be subject to steeply progressive tax rates, again to prevent accumulation of wealth at the top.

14) No fiat currency, which is subject to manipulation by the Fed, banks, and unscrupulous trade partners. Link the value of currency capital (fictitious capital) to real capital (labor, enhanced by education and inventions that aid the production of goods and services). Do not count war products toward these goods and services.

[-] 1 points by sweetprablrouzr (1) 12 years ago

Suggestions for conditions in some of the above points: #3 - Commercial banks and investment banks should be completely separated. Something needs to be done about banks receiving government money but not loaning that money to businesses for expansion/improvements/hiring. Regarding #4. Lobbyists should be excluded from giving any economic advice to any legislators at any time for any reason. Any bill or proposal affecting economics should be analyzed by CBO, GAO, or other, similar organization even before it is introduced. Full disclosure must be made to the American public prior to introduction in Congress with enough time for public comment on the merits. And in seeking economic advice, it must come from an equal number of economists on both sides of the political spectrum to gain a balanced consensus. Regarding #6, EPA studies should be made on any government land being sold and full disclosure of existing environmental hazards must be disclosed to the public prior to sale. Environmental hazards and deficiencies must be cured and certified prior to sale. Additionally, private developers and employees will be prevented from giving any campaign donations should #6 be implemented. Any developer granted a contract or involved in these sales at any point of the transaction must pay prevailing wages or at least 1.5 times the minimum wage for entry level positions, whichever is higher, with proportional increases according to skill levels, education, and/or training for other positions. For #10, currency discrepancies must be addressed in order to balance the trade deficit. Along with modern cities and transportation, we must increase manufacturing plants to sustain jobs after the building is completed. On #11, in documents elsewhere within the OWS scope/community, it has been suggested that only individuals may be allowed to donate to campaigns in amounts up to $1,000. In addition, no employer or other entity with control over any aspect of a citizen's life will be allowed to exert any pressure of any kind or coercion, overt or covert, to force any individual to donate to that authority entity's choice of candidate or political party. Strict enforcement/scrutiny of this should be in place.

One other item to address is that of wages. Any business or corporation which creates a situation, such as part time work or low pay or reduction or lack of benefits such that employees qualify for government programs should be taxed in the same amount equal to the total of any government benefits their employees receive which are necessary to afford all the basics for as long as those employees receive those benefits. If the business or corporation wants to avoid those taxes, those employers can simply pay their employees enough that they can afford to pay their own bills from their own earnings - after taxes. No more indirect corporate subsidies. The intent here is not only to bring wages back up to parity, but to incentivize businesses to create full time jobs rather than parsing them into part time jobs that only contribute to poverty and government budget deficits.

Stop government subsidies to any businesses or corporations which show overall profits between U.S.-based and foreign-based subsidiaries, satellites, and/or branches. (This might require eliminating the foreign earnings tax breaks.)

[-] 1 points by Keithoc (24) 12 years ago

Occupy call your neighbors, friends, families, and anyone you know who uses the big banks. Tell them to take their deposits out and put them in a local credit union or small bank Oct. 29th 2011.

That's the start date of the G8 meeting. The G20 meets Oct 23. We can try for that date if we act fast enough!!! (finance ministers and central bankers of the world’s twenty richest nations, called the G20 [eight richest called the G8])

If you want to get 6% interest on your savings up to $50,000 deposit the funds in Inter National Bank's savings account here: https://www.mangomoney.com/

When it asks for a referral code during the signup process use 6304504154

[-] 1 points by jown (1) 12 years ago

Great proposals, here are some others for consideration from Warren Mosler (http://moslereconomics.com/)

"MMT proposals for the 99%

Posted by WARREN MOSLER on October 16th, 2011

  1. A full FICA suspension to end that highly regressive, punishing tax and restore sales, output, and jobs.
  2. $150 billion in federal revenue sharing for the state goverments on a per capita basis to sustain essential services.
  3. An $8/hr federally funded transition job for anyone willing and able to work to facilitate the transition from unemployment to private sector employment.
  4. See my universal health care proposals on this website (Health Care Proposal).
  5. See my proposals for narrow banking, the Fed, the Treasury and the FDIC on this website (Banking Proposal).
  6. See my proposal’s to take away the financial sector’s ‘food supply’ by banning pension funds from buying equities, banning the Tsy from issuing anything longer than 3 month bills, and many others.
  7. Universal Social Security at age 62 at a minimum level of support that makes us proud to be Americans.
  8. Fill the Medicare ‘donut hole’ and other inequities.
  9. Enact my housing proposals on this website (Housing proposal).
  10. Don’t vote for anyone who wants to balance the federal budget!!!!"

NB: MMT stands for Modern Money Theory (find out more about MMT at http://neweconomicperspectives.blogspot.com/)

[-] 1 points by iwantmygoldback1933 (64) 12 years ago

Good demands, good post

[-] 1 points by UnifiedVoice (53) 12 years ago

Thank you. I wish I could take credit, but almost all of the work was done by Michael.

[-] 1 points by UnifiedVoice (53) 12 years ago

I wanted to add this, from the user ProvidenceRhodeIsland, as I feel it's very well written and serves to explain our modern situation: Most upwellings have at the core an injury, wrong or grievance. Across four centuries now (18th, 19th, 20th, 21st) America has made a Grand Bargain with her people... if you worked hard, played by the rules, then you could be successful and prosperous... you could raise your children knowing that you would bequeath to them a better America. But, America also made a great gambit at the height of the Cold War... America bet that the developing world would follow in its footsteps, in the path of enlightened representative government and free markets and open society. The gambit paid off well. But, in way, America now has to rebuild, having won the Cold War.... Just like Great Britain had to re-build after the Napoleanic War (1815-1835). I know it sounds strange, but in a way we are living with the after-shock of having won the Cold War. Think about it: median wage income has been stagnant since approximately 1980, or earlier. This was no ordinary recession. This was as Rogoff calls it: The Great Contraction.

[-] 1 points by an0n (764) 12 years ago

6 & 10 are crap.

[-] 1 points by IndenturedNation (118) 12 years ago

One thing that would make sense to privatize anyway, is the USPS. Probably worth at least $100B. That could be used to pay down the debt by about 0.67% ! WOW (are we in bad shape or what?) !

[-] 1 points by IndenturedNation (118) 12 years ago

6 is kind of funny, at least. They'll probably already pretty much give you land if you are willing to invest in building a town there. Lots of people already declare mineral rights on federal land and build vacation cabins there. They have to mine a little just to show they are doing something, but they can keep it indefinitely pretty much for free. Maybe sell land to people for vacation homes in the mountains in the west...that might work. I don't think there would be much interest for land in the deserts. #6 is kind of funny, but harmless.

[-] 1 points by NotHuman (4) 12 years ago

Having ideas for laws is one thing. That is not a plan, but part of a plan.

Do you have a realistic plan to implement change - to make new laws?

Do you have any idea of the evil that rules the 3 worlds?

People want a fair honest shake that is good for life.

The .001% that rule are evil beyond imagination... however they dress well and smile. They smile, 99% suffer.

with no plan - plan to fail. Are there any websites with a complete plan?

[-] 1 points by Lefty48197 (117) 12 years ago

We're talking about a movement on behalf of 99% of America's 350 million residents. Nationalizing the banking industry may be supported by some of us, but when you make it the first tenant of your agenda, then you've effectively separated yourself from the movement. This movement is about economic justice and changing the corporate culture in America forcing a sense of economic nationalism upon them. Forcing them to stop selling out America's middle class in the name of more profits. It's not about one or two industries. It's about all of them.

[-] 1 points by UnifiedVoice (53) 12 years ago

So, are you advising that more points be added to deal with problems in other industries, or that the two points about a central bank be removed?

[-] 1 points by Lefty48197 (117) 12 years ago

I think the focus should be far more general than the points posted.

[-] 1 points by ashcroft79 (1) from Staten Island, NY 12 years ago

I support increased taxes for all individuals with an income of more than $1,000,000/year.

[-] 1 points by madeinusa (393) 12 years ago

Let's stop blaming China for affordable jeans and shoes we all need and enjoy. Our economic problems are located on the Wall Street, and not in China. Let's start construction of new modern cities with modern public transportation before the Chinese find a way to export them to the US. We can create millions of jobs and we can improve our standard of living and quality of life.---we should blame wall street and corps for sending the jobs overseas (China) for cheap slave wage labor. We need factories and jobs here again. We need those jeans and shoes made here with quality and fair trade/treatment. Some of us don't want cheap stuff from China that breaks quickly and costs you more money than the american equivalent.

[-] 1 points by UnifiedVoice (53) 12 years ago

I would actually support that, but here's the way I see it. Products made in China may not be made as well as American products, but the better quality would not be equal to the increase in price. Plus, the way I see it, why would Americans want to go back to producing cheap goods such as plastic toys. Remember that Japan used to make goods like that after WWII, and now they make expensive products like cars and electronics. Would they choose to return to manufacturing cheap goods? No, so why would Americans want to?

[-] 1 points by madeinusa (393) 12 years ago

I think its better for all of us (jobs and economy) if we did it ourselves here. Lets keep our money here like it was before the 1990's. The 1930's-1970's were the best period for the 99% of the country. During this time, we did not overindulge buying cheap not necessary products like we do today at Walmart. Buying qulaity american made products actually cost less over the long run because you will not have to replace them consistently like chinese products. Take tools for instance. Since I started buying only Made in USA products, life has been easier for me with less down time and frustration with products breaking and much less expensive. I am saving so much more money now and it feels good to know I am supporting my fellow americans jobs.

[-] 1 points by Tujay (20) 12 years ago

I do agree with the direction of number 3 but am not sure what is possible or best. Regulation of the investment industry is part of the financial reform that needs to made in order to better serve the majority, not the minority.

[-] 1 points by Tujay (20) 12 years ago

I do like campaign reform and any attempt to overturn or amend Citizen's United. (For example, bringing a nonprofit who publicly supports a political candidate to trial to open it up).

[-] 1 points by UnifiedVoice (53) 12 years ago

Interesting points. The part about looking into nonprofit campaign funding sounds promising, and more transparency in elections couldn't hurt. I'll look into either adding that to one of the points, or making a new point to address that.

[-] 1 points by Tujay (20) 12 years ago

I'm not big into centralization of power. A central bank would become that; its power could become hard to control. It doesn't really matter if the centralization of power is in the hands of the government or a private entity; it usually means an unfair advantage and many will try to gain and keep that edge.

[-] 1 points by mikevilkin (6) from San Diego, CA 12 years ago

We don't need to control power of a government-owned Central Bank. A private central bank like the Fed can be easily controlled by big banks. Do you really believe that Greenspan was independent, or Bernanke is? Do you believe that Greenspan did not see the wild speculation in real estate a few years ago? Do you think that the banking system can not make loans to build new housing while sitting on, probably, trillions of dollars of reserves? The whole system must be blown up, and a new system must be put in place. If the big private banks can not make construction loans, we should create a government-owned commercial bank.

[-] 1 points by Tujay (20) 12 years ago

I think we believe the same things. My point is that centralization of power in the hands of the few should be avoided.

[-] 1 points by mikevilkin (6) from San Diego, CA 12 years ago

I agree with you. Right now the centralization of power is in the hands of CEO's of just a few biggest banks. If they start making loans, economy will be fine. If they decide to cause an economic depression and to buy assets pennies on a dollar, they can easily do it by tightening the bank credit. Right now they will gladly give you a credit card loan, but will not give a construction loan. Looking at the M2 chart, you see that money supply is just fine, but if you dig deeper, you will see that it's all consumption loans, and not investment loans. It's loans to buy things, and not to make things. The result will be stagnation and inflation. They will increase interest rates "to fight inflation" and cause economic depression. And that is what they want. They are not more stupid than I am. Most likely, they are much smarter. They are not paid millions of dollars for nothing. The whole system is just a giant bloodsucking operation, and that is why we need a government-owned Central Bank. And, yes, the regional Federal Reserve Banks should be eliminated.

[-] 1 points by atki4564 (1259) from Lake Placid, FL 12 years ago

Better to create your own banks. In this, just as you have done above, many more people will come to your side when you are proactive (for “new” Business & Government solutions), instead of reactive (against “old” Business & Government solutions), which is why what we most immediately need is a comprehensive “new” strategy that implements all our various socioeconomic demands at the same time, regardless of party, and although I'm all in favor of taking down today's ineffective and inefficient Top 10% Management System of Business & Government, there's only one way to do it – by fighting bankers as bankers ourselves; that is, using a Focused Direct Democracy organized according to our current Occupations & Generations. Consequently, I have posted a 1-page Summary of the Strategically Weighted Policies, Organizational Operating Structures, and Tactical Investment Procedures necessary to do this at:

http://getsatisfaction.com/americanselect/topics/on_strategic_legal_policy_organizational_operational_structures_tactical_investment_procedures

Join

http://finance.groups.yahoo.com/group/StrategicInternationalSystems/

because we need 100,000 “support clicks” at AmericansElect.org to support a Presidential Candidate -- such as any given political opportunist you'd like to draft -- in support of the above bank-focused platform.

Most importantly, remember, as cited in the first link, that as Bank Owner-Voters in your 1 of 48 "new" Business Investment Groups (or "new" Congressional Committees) you become the "new" Congress replacing the "old" Congress according to your current Occupation & Generation, called a Focused Direct Democracy.

Therefore, any Candidate (or Leader) therein, regardless of party, is a straw man, a puppet; it's the STRATEGY – the sequence of steps – that the people organize themselves under, in Military Internet Formation of their Individual Purchasing & Group Investment Power, that's important. In this, sequence is key.

Why? Because there are Natural Social Laws – in mathematical sequence – that are just like Natural Physical Laws, such as the Law of Gravity. You must follow those Natural Social Laws or the result will be Injustice, War, etc.

The FIRST step in Natural Social Law is to CONTROL the Banks as Bank Owner-Voters. If you do not, you will inevitably be UNJUSTLY EXPLOITED by the Top 10% Management Group of Business & Government who have a Legitimate Profit Motive, just like you, to do so.

Consequently, you have no choice but to become Candidates (or Leaders) yourselves as Bank Owner-Voters according to your current Occupation & Generation.

So please JOIN the 2nd link so we can make our support clicks at AmericansElect.org when called for, at exactly the right time, by an e-mail from that group, in support of the above the bank-focused platform. If so, then you will see and feel how your goals can be accomplished within the above strategy as a “new” Candidate (or Leader) of your current Occupation & Generation.

[-] 1 points by mikevilkin (6) from San Diego, CA 12 years ago

"The FIRST step in Natural Social Law is to CONTROL the Banks as Bank Owner-Voters." Your first step is totally wrong. Bank Owner-Voters are uneducated, or public-school educated, people. They don't know anything about economics. They don't know M1 money supply from M2 money supply. God forbid to give them control of anything. I'd rather agree to keep the control strings with the present financial mafia.

[-] 1 points by atki4564 (1259) from Lake Placid, FL 12 years ago

First, you obviously didn't read the 1st link because if you had, you'd know that the THIRD step is for those Bank Owner-Voters to elect 12 Inside Bank Directors (with MANDATORY FEDERAL APPROVAL of their banking experience) who advise you, similar to today's politicians, on the 12 Economic Sectors of your Bank, as follows: (1) Wholesale, (2) Vehicles, (3) Services, (4) Education, (5) Retail, (6) Housing, (7) Commodities, (8) Technology, (9) Manufacturing, (10) Insurance, (11) Justice, and (12) Banking.

Second, as for the Bottom 90% of Workers having to know things like M1 & M2, I absolutely agree; that is, before being allowed to make ANY socioeconomic decisions about ANYTHING, especially Business Loans in their Occupation & Generation, each "new" Bank Owner-Voter MUST pass a very extensive National Bankers Examination with a grade of 100% -- no exceptions -- and I'd leave it to the Fed to decide exactly what people MUST know in order to be Bank Owner-Voters as per their current education site, for Bank Directors, at http://www.bankdirectorsdesktop.org/ . Of course, I didn't say this in my summary because it would have made a long summary too long, but such Banking Education, as Sophisticated Investors & Officers, is a CRUCIAL and NON-NEGOTIABLE requirement for each "new" Bank Owner-Voter under our Tactical Investment Procedures.

Third, don't trust EVERYTHING you hear in economics class, for they are the ones that lead us into this mess in the first place, right?