Originally posted on 9/25/2008
We sit at the table of crisis but also at the table of opportunity. Clearly we must bail out the mistakes of "Wall Street". Let's fix it all for good.
One Trillion dollars for stabilizing the markets...why stop there?
How about printing TEN TRILLION DOLLARS and shipping all of those dollars to those that hold our National Debt?
The underlying problem is that the price of real estate is sliding. The solution to fixing this is to create inflation so that real estate stabilizes and rises.
Printing more money will create that inflation.
Paying off our National Debt will create 30% more available money in our National Budget and allow us to fix Social Security for good.
Most of the debt is held by foreign entities...if we ship actual "cash" overseas it will come back very slowly if ever. What it will do is establish the "dollar" as the global currency because so much of the trade that will occur overseas will be done in the "cash" dollars that we ship to pay off the debt. We limit visitors to our country to transporting no more than $10,000 in cash at any one time. With the Patriot Act we make it difficult to move money into the country... so this TRILLIONS of dollars would hit us slowly.
We deregulated everything. Now "Wall Street" has created derivatives on everything... this cannot continue. This needs to be fixed. "Margin Requirements" need to be placed upon every form of leverage... taking an asset and leveraging it 30 to 100 times its worth just isn't prudent. It is time that we get back to sound banking principles. We switched from the "Gold Standard" and replaced it with a "Real Estate" backed currency... it is time that we make this more than just implied. Merge Freddie and Fannie into one entity and clear the log jam by allowing a mortgage to any person or entity regardless of credit history as long as they put up 30% of the value of the property - 20% if there are solar panels on the roof contributing electricity to our power grid.
Now if we end our dependence on foreign oil over the next five years we will have surplus money to begin spending on building our failed infrastructure.
Michael Douglas Carlin is a filmmaker, author, and
journalist. American Federale is available on iTunes,
Amazon,
and GooglePlay.
Rise
a Knight is available on Amazon. Peaceful
Protests and A
Prescription For Peace is available on iTunes.
