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stepnharp
10-15-2008, 01:31 PM
Maybe we can help save the American economy. Only 56 individuals signed the Declaration of Independence, in the process all they did was change the world forever.

I have been working on a plan to save the American economy. I have created a website, http://www.changeb.com so that I will be able to receive feedback, support or criticism on my plan. If you like the plan, tell your friends and your state’s Senator and Congressman about it. If you don’t like it, I thank you for your time.

I value your input, so I am wondering if you would look it over and tell me what you think. Here is the link to the website http://www.changeb.com/

I would love to make it OUR PLAN (American Tax Payers), so please visit the site http://www.changeb.com/.

The Original Plan(s):

FED loans $1,000,000,000 to Financial Institutions to cover bad Mortgages
Government takes over Fanny Mae and Freddie Mac
Government takes over AIG
Government approves 300 Billion in Mortgage relief

Change A: since the Original Plan(s) failed
700 Billion Bailout of WoFMD Mortgages
Coordinated interest rate reduction by a dozen Central Banks.
Central Bank purchases stocks in large banks.

Change B: since the Original Plan(s) and Change A failed.
How to Protect Taxpayers Deposits Currently
Held in Financial Institutions Proposal

www.ChangeB.com

Thanks, Scott

Tenbatsu
10-15-2008, 02:00 PM
I briefly read through your idea and I did not see one item referring to our monetary policy or the federal reserve.

End fractional reserve banking and the federal reserve and you solve the problem. It's that simple. Will it be painful? Sure, but what you have proposed only prolongs the inevitable depression we need.

Our current monetary system requires the monetization of debt to survive. In other words, our monetary policy was built to fail from day one. You cannot have exponential deficit spending and growth without a crash; it's unsustainable. Fractional Reserve banking requires exponential amounts of lending and borrowing for there to be any money at all. Once the credit dries up the gig is over, the curtain comes up and everyone will see (hopefully) how corrupt the system was to begin with.

So far the best written solution to the problem I have seen is this:

http://www.themoneymasters.com/mra.htm

Now most Ron Paul supporters will not like this as it proposes a paper only currency. I have my reservations about this as well but you have to remember that almost all of our gold has been siphoned out of our country since 1933. There is not enough gold to back the currency currently not to mention the same people behind the Federal Reserve, IMF, and World Bank are the most likely owners of our gold. Once someone has cornered the market with a commodity it throws it out of balance. The bankers have cornered the market and in turn have made returning to a gold standard less attractive.

stepnharp
10-16-2008, 04:05 PM
Tenbatsu,

Thanks for the reply, I am going to read up on the Monetary Reform Act in order to learn more about it.

I have already modified my plan to include a part of the MRAct. I added a No Risk category.

Stepnharp

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Depositors will have the option of setting the amount of Risk in which their funds can be loaned out.

Any deposits (Saving, Checking, Money Market, CD, …etc) will be classified into 3 different groups:

No Risk
The funds deposited cannot be loaned out and can only be use for the banks reserves.

Safest Risk
Only individuals with a 720 or higher credit score or; companies with a Standard and Poor’s (Note: 1) AAA – BBB Credit Rating can borrow from this type of account.

Medium Risk
Only individuals with a 690 – 719 credit score or; companies with a Standard and Poor’s (Note: 1) BB – CCC Credit Rating can borrow from this type of account.

Highest Risk
Only individuals with a 689 or lower credit score or; companies with a Standard and Poor’s (Note: 1) CC - NR Credit Rating can borrow from this type of account.

Note to Financial Institutions: before you complain about having to create so many different accounts. I would like to remind you about the 100's of different (exotic) types of mortgages you came up with. So I have faith that you will be able to handle the different types of deposit accounts.