Pastor Ryan Bell tells the crowd why the Hollywood Adventist Church is divesting from Bank of America
Yesterday, the coalition of Southern California clergy leaders -LA Voice- representing 30,000 people from churches, synagogues, and mosques pledged to move $2 million and end a collective 200 years of business with Bank of America and Wells Fargo. LA Voice takes regular action for economic and social justice as part of the PICO National Network and The New Bottom Line. Joining LA Voice for the action was Van Jones, co-founder and president of Rebuild the Dream.
Yolanda Brown is Parish Life Director of Blessed Sacrament Church in Hollywood, an LA Voice coalition member. She's also a former-Senior Vice President at Union Bank. "We recognize that bottom line is important for financial institutions, but we have to recognize a new bottom line, which is the care of all of us,” Dr. Brown told the crowd.
"We the clergy and leaders of LA Voice stand here today, willing to lead by example," said Pastor Ryan Bell of the Hollywood Adventist Church, one of many LA Voice clergy leaders who are pulling out their congregation's money and organizing to pass a Responsible Banking Ordinance through the Los Angeles City Council.
Pastor Bell pointed out that in Cleveland and Philadelphia have passed similar ordinances that greatly helped the communities and cost the city next to nothing. Similar ordinances are being proposed in Seattle, San Jose, and San Francisco. Here more from Pastor Ryan Bell in a radio interview on Which Way L.A.?
Also taking action as part of LA Voice is Shakeel Saed and the Islamic Shura Council of Southern California, Father Jaime Edwards-Acton and St. Stephens Episcopal in Los Angeles, Father George Wanser and Most Holy Trinity in East San Jose, and Sister Karen Collier and Parish Life Director St Agatha Church in South LA.
The $2 million divestment pledge is a significant early addition to Move Our Money campaign's goal of moving $1 billion out of Bank of America, Chase, and Wells Fargo.
Below are photos of the action.
Van Jones of Rebuild the Dream speaks to the crowd
Pastor Lucy Kolin from Resurrection Lutheran Church in Oakland
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Showing 3 reactions
alan anisgard commented
2011-11-03 19:17:34 -0400
Folks who are underwater on their mortgages & who want to stop paying should do it on the same day, and bring the banks down to their knees..
We need New Bottom Line to start organizing that day.
We need New Bottom Line to start organizing that day.
C Basilovecchio commented
2011-11-03 12:56:35 -0400
“THE ALL INCLUSIVE SOLUTION. THE FEDERAL BANK OF AMERICA”
HOW DO YOU EAT A 80 CALORIE SANDWICH?
ANSWER:ONE BITE AT A TIME.
Please this is a little lenthy,but worth one bite at a time
PLEASE CORRECT, CHALLENGE, OR ENDORSE: POST. THE SANDWICH :
âWe the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.â
Our Peamble is being challenged .
If it were possible to sum up the single greatest flaw to the American form of democracy would it be :It allows for the âmost powerful force in the universeâ⦠to quote Einstein, compound interest to be used against that democracy ?
That would be something like âfree willâ, which can be used for or against the greater good.
this possible fatal flaw to the American Democracyâs economic and monetary policy, may be âthe use of the most powerful force in the universeâ â¦compound interest, being used by a group not for the betterment of all, rather for their own betterment only.
When money is acquired thru interest ,it is not new money, it is merely a redistribution. A lender of any amount could lend 100% with an interest of 7.2% over a period of 10 times, and actually double its money.The lender becomes the owner of the money and based upon the act of compounding at any rate within a long period of time become the sole owners of all the money.
The present system has to change .Private banks are lenders to the taxpayers who become borrowers.They are allowed to charge interest to taxpayers for the use of their own money.
They are allowed to âcreate moneyâ by fractionalizing money on hand and use that
newly created money to gain more money. A cycle that commands total money control or it must bust.The real kicker is that the borrower by todayâs system guarantees the lender they will not lose there money by covering any of their losses.The taxpayers are guarantors of their own servitude !
The solution;The Federal Bank of America.
Adam Smithâs âInvisible Handâ guided by Sheila Blair (FDIC)and Edward DeMarco (FHFA) can restore the American financial system,and put America on the road to prosperity.As a settlement to the legal actions brought against Bank of America,both the FDIC and FHFA can agreed to Bank of Americaâs insolvency !(11-01-11. This could read JPM Chase,or both BAC and JPMC.OR ANY AND ALL BANKS ) Bank of America is to be placed along with Freddie,Frannie and Sallie,along with the FDIC, and FHFA, and the Federal Reserve into one new agency; âThe Federal Bank of Americaâ(FB of A).The Federal Reserve will no longer be needed as its mandate will be passed on to THE FEDERAL BANK OF AMERICA.Also the FDIC and FHFA as their mandates will no longer be required.Private banks will have to get their own insurance .
THE FEDERAL BANK OF AMERICA (FB OF A) will be a fully taxpayer owned bank.It will be operated by the people,of the people and for the people.
THE FEDERAL BANK OF AMERICA will be the source for the American borrower to acquire funds and the interest paid shall be revenue income for the funding of their government.
The first order of business will be securing of all deposits as allowed by the FDIC and the selling of these deposits along with all assets with the exception of any and all loans.All loans are to be retained by FB of A , as well as all offices and buildings as they will provide the brick and mortar for the new agency.
The shortfall,the amount of money needed to restore the loans to Fair Market Value could exceed $10 trillion.This includes the most recent transactions in derivatives and other market ventures,which an audit may show that are in an amount of over $80 trillion (Thatâs only Bank of Americaâs portion)(Worldwide it is said to be more than $800 trillion).
THE FEDERAL BANK OF AMERICA
The Federal Bank of America will be the maker of all loans,not guarantee them for others, they will be the maker of these loans and will retain all profits.Profits which by law will be turned over to the US Treasury,as funds for Congress for government expensiveâs.
The Federal Bank of America:
-Will no longer allow the paying of interest for the use of its own money.
-Will not take deposits from anyone other then the US Treasury.
-Will not be involved in any financial investment services.
The Federal Bank of America will be the sole lender of legal tender.Any financial institution that wishes to loan American Dollars must acquire any legal tender that it may need from the Federal Bank of America,as all loans must be backed with a 100% reserve (Either dollars on hand or borrowed from the FB of A)
The Federal Bank of America may raise or lower rates of interest to insure the quality and quantity of the American Dollar.
The Federal Bank of America shall be funded by the US Treasury which shall as mandated by Congress request the US Mint to produce a platinum âcoinâ with a DOLLAR VALUE of $100 TRILLION.This value will be electronically deposited to the account of the American people into the Federal Bank of America.The actual âcoinâ will be placed on display next to the US CONSTITUTION.
The board of directors shall be selected by a non-partisan vote.
THE SOLUTION:THE FEDERAL BANK OF AMERICA .
FB of A will purchase ALL residential and commercial loans outstanding at Fair Market Value.Any private lender may retain any loan it has by simply showing 100% reserve.The American people will be the lenders and no longer will they be the victims of private greed.No longer will they allow the banks that they have entrusted with their money to use that money to make profits for themselves .Profits will be made by the people,of the people, for the people. Taxpayers bailout for Taxpayers by Taxpayers paying compounded interest to Taxpayers .These loans would provide trillions of dollars as TAXPAYER PROFIT (REVENUE)! Compound interest will cause any amount to double over a certain period of time.(Rule of 72). A 4% compound yearly interest rate will double the base amount in 18 years. The taxpayers will be the direct lender and make the profit (interest).This doubling alone will provide an enormous income stream.If loans are made for $100 trillion,the incoming payments would exceed $5 trillion a year.What a magnificent way to fund a government.Pay off all old debt and never need to go in debt again because we the people would demand that there be a reserve.
As Einstein said,âMake it simple.â
TERMINATE THE STUPID PRACTICE OF PAYING INTEREST ON OUR OWN MONEY TO PRIVATE BANKS .A PRACTICE THAT CAN ONLY END WITH A FINANCIAL BUST !
State Banks are taxpayer owned and are for taxpayers to make and retain any profit.The Federal Reserve Bank as it stands now is a bank that is owned (shareholders) by other banks.This is the greatest banker fraud of all,and we know how Freddie and Fannie turned out.No more GSEâs.And because the Federal Reserve Bank is the bankers bank,they are using taxpayers dollars to HELP THEIR BANKS more than to help people.When the banks made federal guaranteed loans,the FEDS guaranteed the loans with taxpayer dollars.Now they are supplying the banks with almost free money.This is exactly what we the people should do-become the owners of our money,the owners of the fruits of our labors.
The next wave of stuff that will hit the fan may be the âCRISIS in the derivatives marketâ if you think stuff was âtoo big to failâ before,join me in sleepless nights knowing the derivatives market is more than $800 trillion ! ! Thatâs $800,000,000,000,000 !
Read: âWeb of Debtâ written by Ellen Brown ( Ellen Brown ,she turns her skills to an analysis of the Federal Reserve and âthe money trust.â She shows how this private cartel has usurped the power to create money from the people themselves, and how we the people can get it back).
Read: A state owned bank,The Bank of North Dakota makes and retains profit for its owners-the taxpayers of the state. The State Bank of NDâs Return on Investment to taxpayers was 19% this year.(Google âState owned bank THE BANK OF NORTH DAKOTA)
Could you imagine the profit (read income revenue) The Federal Bank of the United States of America would make? Taxpayers paying interest as revenue income for the taxpayers government.
Put the insolvent banks in receivership.
The next set of banks that are to go into receivership by the FDIC are to have all assets that are not loans sold off.(read just in case Bank of America is âtoo big to failâ or read just in case JPMC and CITI refuse to sell them out.).FDIC will sell all assets ( minus loans) and keep the offices and all its branches.The renamed bank will be called âTHE FEDERAL BANK OF AMERICA . It will be funded by the US TREASURY.
The Federal Bank of AMERICA will replace the Federal Reserve and will be mandated to preserve the quantity and quality of the US Dollar and to provide Congress with funding for the general welfare,life,liberty and the pursuit of happiness
Just like that ,we the people may just have solved our financial crisis , housing crisis,monetary crisis and started on to the path to a greater prosperity.
SOLUTION TO FINANCIAL,HOUSING, MONETARY CRISIS AND CREATION OF MILLIONS OF JOBS IMMEDIATELY AT NO COST TO THE TAXPAYERS;RATHER AT A PROFIT (READ INCOME) TO THE TAXPAYERS.
THE FEDERAL BANK OF AMERICA would be the only legal tender provider for all residential and commercial real estate loans,private personal and business loans.It would have branches in every state and territory.The FB of A shall control the money supply by setting terms and conditions for the loans,thereby fulfilling their mandate to control inflation,deflation,and stagnation. .Affordable loans at low rates and longer terms ( 2011 Private loans would be at 4% for 40 years as rates will be changed depending upon economic conditions .2011 Business loans would be at 2% for 6 (six) years with no payments for the first year.)This would create at least 4 million jobs immediately and may even reduce the unemployment to under 4% within that year by creating the jobs and homes and products needed for this new prosperity that would be a result of this new monetary policy.
The Federal Bank of AMERICA will replace the Federal Reserve and will be mandated to preserve the quantity and quality of the US Dollar and to provide Congress with funding for the general welfare,life,liberty and the pursuit of happiness
AMERICAN GOLD.
The American Dollar will be based upon THE AMERICAN TREASURE (âITS GOLDâ) !
That is the full faith and credit of the American people backed up by the US Constitution and all assets physical and intellectual..Americans shall and will pay all debts,foreign and domestic.The American people have tremendously more assets then the worlds gold.Why would we limit our future to only a single metal ?We have all the elements as assets that are greater and in more abundance than gold and intellectual assets that are limitless,why trade them for such a finite amount of gold,gold that is already owned by others?
We the people will create millions of jobs with commercial loans that will insure positive growth and employment.
We the people will have special terms and conditions for student loans that will insure the educational growth of all Americans .Extremely low rates, only used to cover losses. (read Ellen BrownâQE4- Jubeleeââ ).
Ben Franklin,Thomas Jefferson,and many more used this method ,the lending of taxpayers money , to start the colonies on the road to financial success.Then the lender banks took it away from the people by having legislators replace the practice allowing them to make the loans (make our money) and keep the interest for themselves,and at the same time guarantee that they the lenders get paid.We the people will no longer pay interest for the use of our own money,or guarantee lenders that they will be paid interest on our money for making loans.
To insure the funding of this great society there could be three streams of income.
INCOME STREAM NUMBER ONE:
1. REVENUE FROM DOLLAR LOANS.
Lets use a start figure of $51 trillion in loans,that which is already in circulation.(guesstimate,hope it is more)It will go on the balance sheet as $51 trillion loan assets.This asset will double every 18 yearsâ¦.1 X 18 = 102 trillion,2 X 18 =204 trillion. Banks will be the only source for deposits and savings. Banks will no longer be allowed to do fractional banking .All loans will require 100% deposit backing..Banks may borrow from The Federal Bank of the United States of America and use that borrowed money for their own account for their own investing;at the prevailing rate and terms.NO MORE FREE RIDE !( Some say they may need over $200 trillion to unwind their derivatives.)
Good-bye income taxes as they are known today.
The Return on Investment could be $3 to $5 trillion a year.US TREASURY INCOME to be used to pay off debt,promote the general welfare .
Good-bye income taxes as they are known today.
THE SECOND INCOME STREAM:
2. A one line form, INCOME TAX :â 0-10-20 -25â³ . Annual income of up to $75,000,pays 0% taxes .Annual income of $75,001 up to $750,000 pays 10% taxes .Annual income over $750,000 up to $2,000,000 pays 20%,and the last category ;annual income over $2,000,000 pays 25%.There will be no need for any value added tax or consumer or sales tax.
THE THIRD INCOME STREAM:
3. A business tax.The business tax is also a one line item; ALL profit over a deduction of $100,000 per employee is taxed at 20%.
THREE INCOME STREAMS:
1-FEDERAL BANK LOANS:Taxpayers people and âpeopleâ(read corporations) paying interest
2-PERSONAL INCOME TAX: 0-10-20-25
3-BUSINESS PROFIT TAX: Profit @ 20% minus employees X $100,000
THESE THREE WHOULD AVERAGE OVER $5 TRILLION DOLLARS A YEAR.
We the people would demand the debt be paid off ,end the possible servitude of our heirs.
We the people would demand a balanced budget.
We the people would demand a real monetary reserve be left in THE FB of A.
We the people would demand the general welfare,life,liberty,pursuit of happiness
FOR ALL THE PEOPLE.
CAUTION: They will try FEAR tactics to keep US away from our rights.Remember ,âWe have nothing to fear but fear itselfâ
They will use the fear producing words,âinflation, hyperinflation, stagnationâ.
You can answer with the words,âI will not be enslaved by the most powerful force in the universe because we the people can use that most powerful force for the betterment of mankind and prosperity.â
âWe the people will deal with the present possible economic sunami,one tidal wave at a time .
We will eat this crisis -ONE BITE AT A TIMEâ
PERHAPS,WE NEED A MILLION CITIZEN MARCH ON WASHINGTON ORGANIZED FOR JUNE 2012 .
-WE NEED:
TO CHANGE OUR ELECTED CHOICES!
TO GET OUR CANDIDATES IN OFFICE!
TO GET THOSE ELECTED TO OFFICE AGREE TO THE ONE MOST IMPORTANT ITEM OF CHANGE;THEY WILL ENDORSE THE FORMATION OF âTHE FEDERAL BANK OF AMERICAâ
May God continue to bless America
justaluckyfool@aol
Please this is a little lenthy,but worth one bite at a time
PLEASE CORRECT, CHALLENGE, OR ENDORSE: POST. THE SANDWICH :
âWe the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.â
Our Peamble is being challenged .
If it were possible to sum up the single greatest flaw to the American form of democracy would it be :It allows for the âmost powerful force in the universeâ⦠to quote Einstein, compound interest to be used against that democracy ?
That would be something like âfree willâ, which can be used for or against the greater good.
this possible fatal flaw to the American Democracyâs economic and monetary policy, may be âthe use of the most powerful force in the universeâ â¦compound interest, being used by a group not for the betterment of all, rather for their own betterment only.
When money is acquired thru interest ,it is not new money, it is merely a redistribution. A lender of any amount could lend 100% with an interest of 7.2% over a period of 10 times, and actually double its money.The lender becomes the owner of the money and based upon the act of compounding at any rate within a long period of time become the sole owners of all the money.
The present system has to change .Private banks are lenders to the taxpayers who become borrowers.They are allowed to charge interest to taxpayers for the use of their own money.
They are allowed to âcreate moneyâ by fractionalizing money on hand and use that
newly created money to gain more money. A cycle that commands total money control or it must bust.The real kicker is that the borrower by todayâs system guarantees the lender they will not lose there money by covering any of their losses.The taxpayers are guarantors of their own servitude !
The solution;The Federal Bank of America.
Adam Smithâs âInvisible Handâ guided by Sheila Blair (FDIC)and Edward DeMarco (FHFA) can restore the American financial system,and put America on the road to prosperity.As a settlement to the legal actions brought against Bank of America,both the FDIC and FHFA can agreed to Bank of Americaâs insolvency !(11-01-11. This could read JPM Chase,or both BAC and JPMC.OR ANY AND ALL BANKS ) Bank of America is to be placed along with Freddie,Frannie and Sallie,along with the FDIC, and FHFA, and the Federal Reserve into one new agency; âThe Federal Bank of Americaâ(FB of A).The Federal Reserve will no longer be needed as its mandate will be passed on to THE FEDERAL BANK OF AMERICA.Also the FDIC and FHFA as their mandates will no longer be required.Private banks will have to get their own insurance .
THE FEDERAL BANK OF AMERICA (FB OF A) will be a fully taxpayer owned bank.It will be operated by the people,of the people and for the people.
THE FEDERAL BANK OF AMERICA will be the source for the American borrower to acquire funds and the interest paid shall be revenue income for the funding of their government.
The first order of business will be securing of all deposits as allowed by the FDIC and the selling of these deposits along with all assets with the exception of any and all loans.All loans are to be retained by FB of A , as well as all offices and buildings as they will provide the brick and mortar for the new agency.
The shortfall,the amount of money needed to restore the loans to Fair Market Value could exceed $10 trillion.This includes the most recent transactions in derivatives and other market ventures,which an audit may show that are in an amount of over $80 trillion (Thatâs only Bank of Americaâs portion)(Worldwide it is said to be more than $800 trillion).
THE FEDERAL BANK OF AMERICA
The Federal Bank of America will be the maker of all loans,not guarantee them for others, they will be the maker of these loans and will retain all profits.Profits which by law will be turned over to the US Treasury,as funds for Congress for government expensiveâs.
The Federal Bank of America:
-Will no longer allow the paying of interest for the use of its own money.
-Will not take deposits from anyone other then the US Treasury.
-Will not be involved in any financial investment services.
The Federal Bank of America will be the sole lender of legal tender.Any financial institution that wishes to loan American Dollars must acquire any legal tender that it may need from the Federal Bank of America,as all loans must be backed with a 100% reserve (Either dollars on hand or borrowed from the FB of A)
The Federal Bank of America may raise or lower rates of interest to insure the quality and quantity of the American Dollar.
The Federal Bank of America shall be funded by the US Treasury which shall as mandated by Congress request the US Mint to produce a platinum âcoinâ with a DOLLAR VALUE of $100 TRILLION.This value will be electronically deposited to the account of the American people into the Federal Bank of America.The actual âcoinâ will be placed on display next to the US CONSTITUTION.
The board of directors shall be selected by a non-partisan vote.
THE SOLUTION:THE FEDERAL BANK OF AMERICA .
FB of A will purchase ALL residential and commercial loans outstanding at Fair Market Value.Any private lender may retain any loan it has by simply showing 100% reserve.The American people will be the lenders and no longer will they be the victims of private greed.No longer will they allow the banks that they have entrusted with their money to use that money to make profits for themselves .Profits will be made by the people,of the people, for the people. Taxpayers bailout for Taxpayers by Taxpayers paying compounded interest to Taxpayers .These loans would provide trillions of dollars as TAXPAYER PROFIT (REVENUE)! Compound interest will cause any amount to double over a certain period of time.(Rule of 72). A 4% compound yearly interest rate will double the base amount in 18 years. The taxpayers will be the direct lender and make the profit (interest).This doubling alone will provide an enormous income stream.If loans are made for $100 trillion,the incoming payments would exceed $5 trillion a year.What a magnificent way to fund a government.Pay off all old debt and never need to go in debt again because we the people would demand that there be a reserve.
As Einstein said,âMake it simple.â
TERMINATE THE STUPID PRACTICE OF PAYING INTEREST ON OUR OWN MONEY TO PRIVATE BANKS .A PRACTICE THAT CAN ONLY END WITH A FINANCIAL BUST !
State Banks are taxpayer owned and are for taxpayers to make and retain any profit.The Federal Reserve Bank as it stands now is a bank that is owned (shareholders) by other banks.This is the greatest banker fraud of all,and we know how Freddie and Fannie turned out.No more GSEâs.And because the Federal Reserve Bank is the bankers bank,they are using taxpayers dollars to HELP THEIR BANKS more than to help people.When the banks made federal guaranteed loans,the FEDS guaranteed the loans with taxpayer dollars.Now they are supplying the banks with almost free money.This is exactly what we the people should do-become the owners of our money,the owners of the fruits of our labors.
The next wave of stuff that will hit the fan may be the âCRISIS in the derivatives marketâ if you think stuff was âtoo big to failâ before,join me in sleepless nights knowing the derivatives market is more than $800 trillion ! ! Thatâs $800,000,000,000,000 !
Read: âWeb of Debtâ written by Ellen Brown ( Ellen Brown ,she turns her skills to an analysis of the Federal Reserve and âthe money trust.â She shows how this private cartel has usurped the power to create money from the people themselves, and how we the people can get it back).
Read: A state owned bank,The Bank of North Dakota makes and retains profit for its owners-the taxpayers of the state. The State Bank of NDâs Return on Investment to taxpayers was 19% this year.(Google âState owned bank THE BANK OF NORTH DAKOTA)
Could you imagine the profit (read income revenue) The Federal Bank of the United States of America would make? Taxpayers paying interest as revenue income for the taxpayers government.
Put the insolvent banks in receivership.
The next set of banks that are to go into receivership by the FDIC are to have all assets that are not loans sold off.(read just in case Bank of America is âtoo big to failâ or read just in case JPMC and CITI refuse to sell them out.).FDIC will sell all assets ( minus loans) and keep the offices and all its branches.The renamed bank will be called âTHE FEDERAL BANK OF AMERICA . It will be funded by the US TREASURY.
The Federal Bank of AMERICA will replace the Federal Reserve and will be mandated to preserve the quantity and quality of the US Dollar and to provide Congress with funding for the general welfare,life,liberty and the pursuit of happiness
Just like that ,we the people may just have solved our financial crisis , housing crisis,monetary crisis and started on to the path to a greater prosperity.
SOLUTION TO FINANCIAL,HOUSING, MONETARY CRISIS AND CREATION OF MILLIONS OF JOBS IMMEDIATELY AT NO COST TO THE TAXPAYERS;RATHER AT A PROFIT (READ INCOME) TO THE TAXPAYERS.
THE FEDERAL BANK OF AMERICA would be the only legal tender provider for all residential and commercial real estate loans,private personal and business loans.It would have branches in every state and territory.The FB of A shall control the money supply by setting terms and conditions for the loans,thereby fulfilling their mandate to control inflation,deflation,and stagnation. .Affordable loans at low rates and longer terms ( 2011 Private loans would be at 4% for 40 years as rates will be changed depending upon economic conditions .2011 Business loans would be at 2% for 6 (six) years with no payments for the first year.)This would create at least 4 million jobs immediately and may even reduce the unemployment to under 4% within that year by creating the jobs and homes and products needed for this new prosperity that would be a result of this new monetary policy.
The Federal Bank of AMERICA will replace the Federal Reserve and will be mandated to preserve the quantity and quality of the US Dollar and to provide Congress with funding for the general welfare,life,liberty and the pursuit of happiness
AMERICAN GOLD.
The American Dollar will be based upon THE AMERICAN TREASURE (âITS GOLDâ) !
That is the full faith and credit of the American people backed up by the US Constitution and all assets physical and intellectual..Americans shall and will pay all debts,foreign and domestic.The American people have tremendously more assets then the worlds gold.Why would we limit our future to only a single metal ?We have all the elements as assets that are greater and in more abundance than gold and intellectual assets that are limitless,why trade them for such a finite amount of gold,gold that is already owned by others?
We the people will create millions of jobs with commercial loans that will insure positive growth and employment.
We the people will have special terms and conditions for student loans that will insure the educational growth of all Americans .Extremely low rates, only used to cover losses. (read Ellen BrownâQE4- Jubeleeââ ).
Ben Franklin,Thomas Jefferson,and many more used this method ,the lending of taxpayers money , to start the colonies on the road to financial success.Then the lender banks took it away from the people by having legislators replace the practice allowing them to make the loans (make our money) and keep the interest for themselves,and at the same time guarantee that they the lenders get paid.We the people will no longer pay interest for the use of our own money,or guarantee lenders that they will be paid interest on our money for making loans.
To insure the funding of this great society there could be three streams of income.
INCOME STREAM NUMBER ONE:
1. REVENUE FROM DOLLAR LOANS.
Lets use a start figure of $51 trillion in loans,that which is already in circulation.(guesstimate,hope it is more)It will go on the balance sheet as $51 trillion loan assets.This asset will double every 18 yearsâ¦.1 X 18 = 102 trillion,2 X 18 =204 trillion. Banks will be the only source for deposits and savings. Banks will no longer be allowed to do fractional banking .All loans will require 100% deposit backing..Banks may borrow from The Federal Bank of the United States of America and use that borrowed money for their own account for their own investing;at the prevailing rate and terms.NO MORE FREE RIDE !( Some say they may need over $200 trillion to unwind their derivatives.)
Good-bye income taxes as they are known today.
The Return on Investment could be $3 to $5 trillion a year.US TREASURY INCOME to be used to pay off debt,promote the general welfare .
Good-bye income taxes as they are known today.
THE SECOND INCOME STREAM:
2. A one line form, INCOME TAX :â 0-10-20 -25â³ . Annual income of up to $75,000,pays 0% taxes .Annual income of $75,001 up to $750,000 pays 10% taxes .Annual income over $750,000 up to $2,000,000 pays 20%,and the last category ;annual income over $2,000,000 pays 25%.There will be no need for any value added tax or consumer or sales tax.
THE THIRD INCOME STREAM:
3. A business tax.The business tax is also a one line item; ALL profit over a deduction of $100,000 per employee is taxed at 20%.
THREE INCOME STREAMS:
1-FEDERAL BANK LOANS:Taxpayers people and âpeopleâ(read corporations) paying interest
2-PERSONAL INCOME TAX: 0-10-20-25
3-BUSINESS PROFIT TAX: Profit @ 20% minus employees X $100,000
THESE THREE WHOULD AVERAGE OVER $5 TRILLION DOLLARS A YEAR.
We the people would demand the debt be paid off ,end the possible servitude of our heirs.
We the people would demand a balanced budget.
We the people would demand a real monetary reserve be left in THE FB of A.
We the people would demand the general welfare,life,liberty,pursuit of happiness
FOR ALL THE PEOPLE.
CAUTION: They will try FEAR tactics to keep US away from our rights.Remember ,âWe have nothing to fear but fear itselfâ
They will use the fear producing words,âinflation, hyperinflation, stagnationâ.
You can answer with the words,âI will not be enslaved by the most powerful force in the universe because we the people can use that most powerful force for the betterment of mankind and prosperity.â
âWe the people will deal with the present possible economic sunami,one tidal wave at a time .
We will eat this crisis -ONE BITE AT A TIMEâ
PERHAPS,WE NEED A MILLION CITIZEN MARCH ON WASHINGTON ORGANIZED FOR JUNE 2012 .
-WE NEED:
TO CHANGE OUR ELECTED CHOICES!
TO GET OUR CANDIDATES IN OFFICE!
TO GET THOSE ELECTED TO OFFICE AGREE TO THE ONE MOST IMPORTANT ITEM OF CHANGE;THEY WILL ENDORSE THE FORMATION OF âTHE FEDERAL BANK OF AMERICAâ
May God continue to bless America
justaluckyfool@aol
