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Nov 15 09 9:05 AM
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Nov 15 09 9:31 AM
I double-counted the FICC numbers, Here's the revised:
Nov 15 09 11:09 AM
From the looks of some of the systems laid out in this chart, and their sophistication, I doubt it would be much of a programming exercise to set up a
In fact, like the Federal Reserve does with checks and FedWire, they charge a per-item fee. I think CHIPS is much more sophisticated, since they aggregate
payments and send net amounts, rather than the fedwire's more primitive methods.
That the Federal Reserve is already engaged in much of this movement of money is only fitting, and that CHIPS is owned by a few large banks is,
It would seem a small price to pay for these institutions, in light of the mess they've made of the economy. I never liked the APT proposal's
phases, but if phase-in were necessary, we could start at the Fed and with CHIPS.
And then there's DTCC, which handled 1.88 quadrillion in securities last year, and 139 trillion in foreign exchange.
So I would phase in by getting a fee going at these centers, and work out towards the little guys. I would guess that my little chart captures most of the
transactional base the fee seeks, and shows that the largest volumes of these transactions flow through central locations.
No doubt there would be screams of bloody murder from these corporations, but so long as the fee is uniform, I see no problem. I'm sure they would
claim that many transactions would flee, but DTCC, for instance, which is privately held, only made a billion dollars last year, and looking at its annual
reports, it seems more interested in providing a framework for the sort of high-frequency trading that has become a hallmark of the big money players.
at: http://www.dtcc.com/about...ss/value_proposition.php I find that per-share fees
are incredibly low, and hundreds of times lower than European counterparts. This tells me that DTCC is dang good at what they do, and would find little
trouble with such a simple addition to their framework.
I would even support grants to these sorts of clearinghouse operations to help offset any costs of implementing such a plan. I don't know much about
all this. I'm just guessing. But I would doubt DTCC has any real competition in this country. These sort of natural monopolies end up being easy
targets. But since their effective tax rate ended up being about 10% (104 million), perhaps a huge tax break would be a good enough reason?
As the base grows, the necessary rate decreases. Even with the added fee, it looks like these clearinghouse-type operations would be priced well below
similar services elsewhere in the world. With the structural efficiencies that the likes of DTCC brings to American markets, I don't see a whole lot of
reason to expect much of a decrease in any but the most marginal trades. And those really just tend to clog the system, and provide unnecessary
Nov 15 09 6:25 PM
Nov 22 09 1:23 PM
One gap that I've been watching close is how close the poverty line is compared to the federal budget.
Say a perfectly conservative estimation of $2Q base. Take an arbitrary poverty rate of poverty of $12K per year.
The 2008-2009 poverty threshold was measured according to the HHS Poverty Guidelines which are illustrated in the table below.Persons in Family Unit 48
Contiguous States and D.C. Alaska Hawaii
1 $10,830 $13,530 $12,460
2 $14,570 $18,210 $16,760
3 $18,310 $22,890 $21,060
4 $22,050 $27,570 $25,360
5 $25,790 $32,250 $29,660
6 $29,530 $36,930 $38,260
7 $33,270 $41,610 $42,560
8 $37,010 $46,290 $40,940
For each additional person, add $3,740 $4,680 $4,300
SOURCE: Federal Register, Vol. 74, No. 14, January 23, 2009, pp. 4199-4201
Seems plenty high. That's a grand a month, or 250 a wk. 250/40 == $6/hr full time.
$12/hr part time 20.
$2Quad * 0.5% == $10 Trillion
300M people * $12K = $3.6 Trillion Life Support
Current Fed Budget: about $3.5 Trillion in further life support and all that killingry and tear-assing around in armored SUV's and hassling the natives
and getting them to submit, whether it just be forms or whatever.
So that leaves about $3 Trillion that could be handily used to retire the national debt. Without any more borrowing, and with the population well cared
for, and within three years of the debt being totally retired, the credit of the people being fully restored, the ceremony of the perpetualized 0.5% limit on
government, and cutting the rate back to a floating rate that is based solely on a life-support basket.
I guess we could throw the almost $1Trillion of state and local taxes in, and pay off the debt in 5 years instead of 3.
I'm looking for a money supply where the currency is not created by some bankster letting a sucker sign away his soul and his house, but is created when
each individual spends money to sustain a decent standard of living. The creation of all money must be a function of the people themselves. Rather than dump
more debt on a slaving public, anyone who doesn't have enough can be allowed to leverage up against guaranteed future public dividend income.
Like mineral rights to a landowner, This is the money rights of a free and powerful nation. It shows our collective will to keep everyone in this country
healthy, strong and able to compete, save, lend, invest, and create to their heart's content, without worrying whether they'll be able to afford
life's necessities. Of course it is a no-brainer. That's the biggest problem is getting anyone to believe such obvious sorts of solutions are totally
viable and with modern technology would be as simple to implement as a late fee on a credit card.
This is my trickle-up version of a free economy, where everyone gets to participate to the degree they can. And once the budget is largely the transfer
into citizen dividend accounts, which can accrue on a daily basis. Once there is a little historical data on the way it operates, the rate may actually be
able to find it's ideal level. If other countries were in contention with their own T-Fee or lack thereof, there would be competition to drive the rate as
low as it could be, but scaring off all the big and evil money interests might not be such a bad thing, if they are really interested in throwing a big fit
about massive tax cuts. Especially if the people of the world chase them to the ends of the earth. Let them rot on their desert islands, regular people have
work to do, mouths to feed, and hospitals to run, fires to put out and music and movies to make about a brave, new world.
I know I'm crazy to believe that when you let people decide for themselves, they usually make pretty decent decisions, but if you leave the capacity to
support the lives and happiness of your family and community in the hands of federal and global controllers, they have little reason or desire to make
decisions that are based on supporting peoples' lives and promoting their happiness. Not if you aren't in their money club. And once you've
bought into the money-club fraud, you've sold your soul to the starvers and industry-destroyers and the bankrupters and the usurers and confiscators and
believe that the proper use of money is to give it to the slave-masters who might toss some scraps, if things are going alright for HIM.
Anyway. Thanks for reading.
Nov 27 09 5:30 PM
Nov 28 09 9:23 PM
Well, as the Tobin Tax gets flirted with on a regular basis, and has even been implemented in certain places, the international bankers have already
anointed a transaction-based tax for themselves. Of course these tend to mainly be as a backstop, an insurance policy, or whatever. They get that they may
not be able to get the bailout they need next time around, so are looking to this sort of scheme to provide the sort of globalized, high-stakes economic
playground they all like to frolic in that is currently insured only by the people. They are looking to the magic of a transaction tax, but not to help anyone
but themselves, and to fend off likely regulation that is bubbling up on the anger of the populations that are being devastated by the recklessness of the
banksters and the total lack of solutions viable within the current system.
As the internet has taught me perhaps better than any proverb is that there is nothing new under the sun, or however that goes.
I found APT Tax some years back as the closest to what I had envisioned, and armed with the knowledge that I wasn't totally crazy, and that the numbers
actually worked, I set about recreating a monetary system for kicks.
It is actually genuinely amazing to me that there is not more variety and creativity when it comes to money. I always expected to be overwhelmed by the
various ideas I would be sure to discover with regards to systems of money and taxation and the like. Especially given the possibilities of the modern,
But that was never the case. But I can say that the fundamental ideas and ideals that I had in mind, and from which I attempted to conjure up less evil
variants than what we have suffered our whole lives, there have been recent signs that those with a mind towards innovation have started to plant similar
I have been developing the idea of a debt-free currency based on life support, a homage to what I consider the fundamental value, as well as to R.
Buckminster Fuller, who suggested governments concern themselves with life support, or "livingry" over "killingry" maybe most succinctly in
Grunch of Giants.
Since no money or property has any value without life to enjoy it or be supported by it, I have been looking for any others who have had a concept of money
whose value is based on its ability to support life.
I notice that Richard C. Cooke, who I am not familiar with yet, has called for dividend accounts that are very close to what I had in mind. Similar to what
Alaska does, paying its inhabitants a dividend derived from the mineral wealth of the state.
I keep searching for these sparse mentions of honest-to-goodness reforms that can turn the tide. Because although the frustrated energy for fundamental,
revolutionary reform is very alive amongst the people, there are very few banners they are able to rally under which signify a bona fide plan of action beyond
tearing down the current regimes, and that sort of tearing down of current systems without a clear way beyond to me seems an old recipe for potentially even
The general ignorance of the mechanisms of the current system, which is a nothing but a well-guarded mystery cult, may prevent all reasonable reforms from
finding easy sale. Only recently has there been any discussion as to the true nature of this last century-old version. A hundred years of deception and
institutionalization and brain-washing will not likely even much but blanch at a little sunlight, as a Fed audit may bring to bear. And it seems that just now
that the people are starting to understand the slavery bred by such a system, the Fed has expanded its programs to include a dozen new esoteric funds and
windows and such. Looks like we might get to audit the Fed, but I have no confidence that such an act will bring an overthrow of that system or its priests,
but viable alternatives expand the theater of war against the central, international controllers, and so every coherent and reasonable alternative must be
brought, especially from those who are NOT within the priesthood.
Aug 8 10 8:35 PM
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