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Great Video already posted on this site. It raises some very sound and interesting questions for the future of Human evolution. I did my best to come up with a solution. It is laid out below.
Please provide that thoughtful feedback that Itulip is know for. I could use any refinements that you may have.
Thanks! (I wrote this on my Iphone4, sorry for the format)
Okay got it. Gotta have an alt e bubble first, it is a prereq. This only works after we have a stable energy price and secure alternative supply with excess energy! Commodity prices have to be allowed to rise at true market
rates during this period before the transition, no downward manipulation or supply will give out. We have to let them run to get the supply that we need to do this. Helps third world economic development of course. Hurts us initially, but otherwise we just end up up shit creek without a paddle. Other countries have to agree to this proposal. One more bubble then we all transition to the same economic model.
PM's are the reserve currency of the world after the transition, the standard by which all currencies are judged. Big inflation followed by permanently high pm prices. Chinese model of no tax on currency to pm to currency transactions.
Legal tender laws stay in place. You have to convert pm's to currency to use the purchasing power that they provide. Collect taxes in legal tender only, but no round trip tax burden on pm's( currency to pm and back to currency). every one has to agree, no cheating( cheaters will be put out of business in any case, so no need to worry, capital in the form of hard currency will flee any local that does not adhere to this construct.) Pm's are the store of value if the investment climate is poor and if national currencies are behaving poorly too. Currencies for spending and investing and paying taxes, pm's as store of value function and a check on misbehaving governments.
For the transition, it has to be quick and prearranged.
Too early to do it today, need energy infrastructure built up first, hence the need for a last bubble.
It has to be a market solution. Social credit has got to be the mechanism to transform the monetary system to the Friedman model of 100% reserves. This liquidates the debt and capitalizes banks. Banks have to offer competitive interest rates to attract deposits. They have demand checking deposit accounts and they also have shared equity savings accounts that are subject to market risk. These are two different types of accounts and have different risks, rewards and protections. Checking accounts become the utility function of banking and have FDIC insurance. Savings accounts are the equity finance arm of banking, subject to market risk and institutional failure no fdic insurance. The real bills doctrine in electronic form. Self clearing (covered debt only, no protection
For debt that is not marketable for what the issuer says it is)
Covered housing bonds.
Government provides initial influx of excess currency emission to each person equally which they use to purchase assets and then transitions to regular public credit payments to each adult person who is 18 or older or is independent of their parents. You can't pay people to have kids, you'll have a population boom. Once this influx is established and debt is liquidated through currency emission government receipts from taxes and tariffs provide operating revenue. Same thing for our foreign debt, it gets paid in cash to wipe it out. Currency emission is then fixed to the number of people in the population. Gov is the alpha and omega in the process. It creates the currency which people then spend. It extinguishes currency by paying out social credit and by spending on government purchases of goods and services. That part is really important or you will have a run away money supply. The social credit is payed out ( after the initial disbursement) as a dividend to citizens. It is collected and then distributed, NOT printed!!! the government has to run like a corporation we bill others for the global stability we provide. We get paid for the service we offer to other countries around the world. People have to pay for government goods and services that they want, I think the end version of the health care provisions plus the public option give enough choice on health care. It the gov does it better and cheaper than the private sector then for that role, the gov should rule the market. ( as decided by the consumer, a market remember). If the private sector rules a sector ( again, as decided by the consumer) then it should rule and gov should get out of the way. Consumer choice is the "decider" if you will.
The currency system forms a loop. There has to be initial excess money in the system when the process starts. Otherwise government would take in all the money available. The government can only add to the social credit available when a new citizen turns 18.
That last part I'd key, to keep the system from constantly inflating social credit must be paid out of government receipts.
The government must run a surplus, this surplus is the basis for the social credit. If the surplus is reduced either the budget must be cut or the surplus must be reduced or both. The converse is also true. It is imparative that this is gaap compatible.
Fixing government costs becomes imparitive and all costs have to brought onto the books. No off budget items.
I think that is it. That should be the stable model after the alt-e bubble.
I think my tax policy is already pretty clear.
Need carbon tax before transition but can't change other tax structures before, vat must come AFTER transition.
After transition
Carbon tax
No income tax or flat income tax only
Vat tax with pre refund for 60-75% of total amount, everyone must pay some taxes. Vat taxes must be shared with states based on how much revenue each state generates.
(Cali gets more than Oregon for example) it is proportional to revenue. No more state sales taxes.
No state income taxes, gone. Never disincentivize hard work!!
States keep property tax ability, but I would prefer a national property tax rate, that only goes to fund state and local government. I think it won't fly though, even though I think it Is the best solution.
You know how to find me if you need more, but this should be
Complete, concise, and correct.
There is a difference between
knowing the path, and walking
the path.
"May the Force be with you,
Always..."
Great Video already posted on this site. It raises some very sound and interesting questions for the future of Human evolution. I did my best to come up with a solution. It is laid out below.
Please provide that thoughtful feedback that Itulip is know for. I could use any refinements that you may have.
Thanks! (I wrote this on my Iphone4, sorry for the format)
Okay got it. Gotta have an alt e bubble first, it is a prereq. This only works after we have a stable energy price and secure alternative supply with excess energy! Commodity prices have to be allowed to rise at true market
rates during this period before the transition, no downward manipulation or supply will give out. We have to let them run to get the supply that we need to do this. Helps third world economic development of course. Hurts us initially, but otherwise we just end up up shit creek without a paddle. Other countries have to agree to this proposal. One more bubble then we all transition to the same economic model.
PM's are the reserve currency of the world after the transition, the standard by which all currencies are judged. Big inflation followed by permanently high pm prices. Chinese model of no tax on currency to pm to currency transactions.
Legal tender laws stay in place. You have to convert pm's to currency to use the purchasing power that they provide. Collect taxes in legal tender only, but no round trip tax burden on pm's( currency to pm and back to currency). every one has to agree, no cheating( cheaters will be put out of business in any case, so no need to worry, capital in the form of hard currency will flee any local that does not adhere to this construct.) Pm's are the store of value if the investment climate is poor and if national currencies are behaving poorly too. Currencies for spending and investing and paying taxes, pm's as store of value function and a check on misbehaving governments.
For the transition, it has to be quick and prearranged.
Too early to do it today, need energy infrastructure built up first, hence the need for a last bubble.
It has to be a market solution. Social credit has got to be the mechanism to transform the monetary system to the Friedman model of 100% reserves. This liquidates the debt and capitalizes banks. Banks have to offer competitive interest rates to attract deposits. They have demand checking deposit accounts and they also have shared equity savings accounts that are subject to market risk. These are two different types of accounts and have different risks, rewards and protections. Checking accounts become the utility function of banking and have FDIC insurance. Savings accounts are the equity finance arm of banking, subject to market risk and institutional failure no fdic insurance. The real bills doctrine in electronic form. Self clearing (covered debt only, no protection
For debt that is not marketable for what the issuer says it is)
Covered housing bonds.
Government provides initial influx of excess currency emission to each person equally which they use to purchase assets and then transitions to regular public credit payments to each adult person who is 18 or older or is independent of their parents. You can't pay people to have kids, you'll have a population boom. Once this influx is established and debt is liquidated through currency emission government receipts from taxes and tariffs provide operating revenue. Same thing for our foreign debt, it gets paid in cash to wipe it out. Currency emission is then fixed to the number of people in the population. Gov is the alpha and omega in the process. It creates the currency which people then spend. It extinguishes currency by paying out social credit and by spending on government purchases of goods and services. That part is really important or you will have a run away money supply. The social credit is payed out ( after the initial disbursement) as a dividend to citizens. It is collected and then distributed, NOT printed!!! the government has to run like a corporation we bill others for the global stability we provide. We get paid for the service we offer to other countries around the world. People have to pay for government goods and services that they want, I think the end version of the health care provisions plus the public option give enough choice on health care. It the gov does it better and cheaper than the private sector then for that role, the gov should rule the market. ( as decided by the consumer, a market remember). If the private sector rules a sector ( again, as decided by the consumer) then it should rule and gov should get out of the way. Consumer choice is the "decider" if you will.
The currency system forms a loop. There has to be initial excess money in the system when the process starts. Otherwise government would take in all the money available. The government can only add to the social credit available when a new citizen turns 18.
That last part I'd key, to keep the system from constantly inflating social credit must be paid out of government receipts.
The government must run a surplus, this surplus is the basis for the social credit. If the surplus is reduced either the budget must be cut or the surplus must be reduced or both. The converse is also true. It is imparative that this is gaap compatible.
Fixing government costs becomes imparitive and all costs have to brought onto the books. No off budget items.
I think that is it. That should be the stable model after the alt-e bubble.
I think my tax policy is already pretty clear.
Need carbon tax before transition but can't change other tax structures before, vat must come AFTER transition.
After transition
Carbon tax
No income tax or flat income tax only
Vat tax with pre refund for 60-75% of total amount, everyone must pay some taxes. Vat taxes must be shared with states based on how much revenue each state generates.
(Cali gets more than Oregon for example) it is proportional to revenue. No more state sales taxes.
No state income taxes, gone. Never disincentivize hard work!!
States keep property tax ability, but I would prefer a national property tax rate, that only goes to fund state and local government. I think it won't fly though, even though I think it Is the best solution.
You know how to find me if you need more, but this should be
Complete, concise, and correct.
There is a difference between
knowing the path, and walking
the path.
"May the Force be with you,
Always..."
?
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