By James Rink
The following scenario applies for citizens of the United States but theoretically can also be used in any other country in the world. Most of the money from the prosperity programs should be released in the form of public works projects this would help stimulate the economy and give people an incentive to build a better world and not just hyper inflate the money supply into oblivion. A small pension should also be provided to all American’s which would cover basic food and shelter expenses so that no one will have to suffer. Once free energy technologies are released the cost of living expense will drop 80% so this won’t cost as much as you think.
In order to release the free energy technology anyone in the current dinosaur energy production will need to be paid off so that they can transition without hardship. The bill for this should also be included in a Marshall styled plan along with rebuilding massive public works projects.
When the prosperity programs are released most of the unused funds should be placed into an investment account held by the Bank of the United States owned by the people of the United States with each citizen having ownership of one share of stock.
This bank would allow the average person to make a 0% interest loans in exchange for a portion of new businesses generated in this new economy. This would stimulate ingenuity, creativity, and financial abundance by allowing capital to flow into the hands of those who have talent to full fill a need.
Even though most businesses fail, the ones that succeed can easily surpass the difference in the losses. The good news is now that banks can’t make money off foreclosure they will have an incentive to make loans only to viable businesses.
As the businesses mature they will eventually start making dividend payment s. The Bank of the United States would then collect these dividends on the portion of the businesses they own. You could call it a Tax but unlike tax where businesses are trying to hide money, now businesses have an incentive to work with the government as both mutually benefit.
Graphical Chart based on theoretical new financial system
Proposed Prosperity Fund X $1 quadrillion dollars
Deposited with the Bank of the United States
Owned equally by all US citizens, each citizen at birth receives one share of stock which cannot be sold.
Think of this as a giant Credit Union.
The CEO and top management of the Bank of US should be voted into office just like with proxy votes in corporations.
All Private Banks will be abolished in the United States (Bought out and nationalized by the Bank of US)
Money is backed by labor (not bullion) of U.S. citizens just like it was prior to the revolutionary war.
50% public work projects
50% Private 0% Interest Rate Loans
Current US GDP $25 Trillion (adding public and government GDP together roughly comes to 25 trillion)
Projected Annual GDP GROWTH RATE 200% for the first few years.
Funding should grow on par with GDP growth rate
Cash infusion should match Annual GDP growth rate on a 1:1 basis to eliminate hyperinflation.
This means $50 trillion released from Prosperity Fund X in year one
This $50 trillion dollars should be spent accordingly
Public works projects will help create jobs, stimulate the economy, and increase the efficiency of business which due to enhanced GDP growth would counteract inflationary measures. These public work projects could also be set up like corporations but be 90% government owned.
Private Loans, the 0% loan model is based on Islamic banking where the bank receives a portion of the business. This prevents the banks from charging usury and causing inflationary measures which eventually strip the poor of their wealth. Bankers would also have an incentive to make loans to business models which work otherwise they lose all their money.
Investing activities should only be allowed for us citizens and businesses based in the US only this would significantly reduce the offshoring phenomena.
Of the income generated by the Bank of the United States
1. Portion should be used to self-fund both local, state and federal governments; and further public works projects on par with GDP growth rate; eliminating the need of taxation. This is based on Walter Burien’s CAFR1.com idea of TRF funds, except instead of the government owning these companies the bank owns it which in turn is owned by the people. This adds an additional layer of protection to limit cronyism in the government, so that government can go back to what it does helping people. Current excess cash flows generated from investing accounts, pensions, etc held by governments must be placed into the budget report. If this money was repatriated, governments would show they currently have enough money to eliminate 2/3 of taxation again see cafr1.com.
2. Another portion of this income stream can then be fractionally lent upon on a 1 to 10 ratio to create more 0% interest rate loans allowing even greater cash infusions as more and more people line up with more business investment opportunities, again US businesses only.
3. Bank of the United States would pay out a dividend to all its shareholders who are the people so that no one will ever have to worry about going hungry or not having a shelter over their head ever again. This model isn’t exactly socialism as the dividend payment will only cover basic expenses. That way people will still have an incentive to work and innovate yet not have to worry about starving or not having a place to live. And as the economy grows so does this dividend leading us into a marvelous new age which will surpass the likes of Atlantis and Lemuria.