53 - Debt Forgiveness Clears the Way for a New Banking System

Aug 2009

Page Three of Nine Pages

Debt Forgiveness Clears the Way for

A New Public-Service Banking System

Summary

What Is: The present banking system is obsolete, fundamentally flawed, consistently dysfunctional, grossly unfair, managed in secret, filled with ethically questionable loan practices, riddled with conflicts of interest, owned by the super-wealthy, run for the super-wealthy, and managed by excessively self-centered and arrogant multi-millionaires who don't give a damn about the people, their plight, their rights, the truth, or the environment.

The banking system is focused exclusively on money and profits for it's owners. It charges its customers hard-earned, interest money (money created with blood, sweat and tears) for the use of non-existent, make-believe money that they (the bankers) simply pluck from the air. With regard to serving the public, as it's presently being run, the American banking system is all but dead.

What Can Be: In sharp contrast, there is a relatively simple, far cheaper, incredible more effective alternative plan that will rapidly produce results -- results that will begin to show up in a matter of a few days after the plan is implemented.

We have four choices: 1) Continue flushing billons of taxpayer dollars down the present, financial and banking sewer, 2) Use the NCW Win-Win Business Structure to redesign the banking management structure and eliminate the conflict of interest between providing fair-priced, banking services to the public and making a profit, 3) Set up network of non-profit foundations to replace that portion of the existing banking system that directly services the public. 4) Institute an across-the-board, homeowner debt forgiveness.

The section below outlines the four major options available for responding the financial crisis and then directs readers to a detailed discussion of each of the options.

Attachment to the Letter to Politicians

The demise of the banking system,
as it's currently being managed, is inevitable.

There are four possible ways of responding to this financial crisis.

1) Continue Denying the Truth:

Continue futile gesturing. Continue pumping billons of taxpayer dollars into the present, financial and banking sewer. Ignore the core banking problem. (That core problem is the serious conflicts of interest between serving the public and making a profit.) Don't demand that the banks stop their home foreclosures. Delay dealing with Global Warming until it passes the point of becoming unstoppable and as a result, allow your children and grandchildren to die under the deadly ravages of Global Climate Change. ^***

Time Required: That's anybody's guess. Estimates from the so-called experts say that their plan will take from two to ten years to produce results, with no guarantees of success and with much evidence pointing toward failure.

References:

http://www.Money-God-Money.info/conflicts-of-interest.html#55 ²

http://www.HowToReverseGlobalWarming.info#NaturesDoomsdayMachine ²

2) Use the NCW Win-Win
Business Management Structure

A simple change in the management structure of the financial institutions can easily be implemented that will completely revise the economic system. It centers around inspiring existing profit-oriented corporations to partner themselves with their own, independently managed, non-profit foundation. When banks run their business using The New Corporate World Foundation's Win-Win Business Structure, corporate employees, corporate customers, and the environment will have equal priority with making a profit.

Time Required: How fast the results show up depends upon the degree of commitment of the corporations. It could take a few month to two years for the collective impact of this shift to show up in the economy.

Reference:

http://www.New-Corporate-World.info#39 ²

3) Split the Banking System into Two Parts:

The part that handles multi-million dollar loans stays similar to the way it is except it gets no government bailouts for bad management. The part that handles public service loans (homeowner loans, auto loans, student loans, small business loans, etc.) is turned over to a network of independent, non profit foundations -- a foundation in every county in the entire country. Initial funding comes directly from the U.S. Treasury (bypassing the Federal Reserve ^**fb2) and future profits return the loan and then fund county and local governments.

Time Required: Foreclosures could be stopped immediately. Completing the transition would take a few months.

Reference: How to End the Home Foreclosure Crisis

http://www.EconomicSanity101.com/

bo-3-how-to-end-home-forelcosure-crisis.html#83 ²

4) An across-the-board,
homeowner debt forgiveness

We are in the middle of spending multiple billions of taxpayer dollars for the purpose of forgiving leaders of the financial industry for their ignorance and for their trespasses. The spending of billions will soon turn into spending trillions of dollars for the purpose of forgiving leaders of the financial industry for their ignorance and for their trespasses.

A very compelling argument can be made for shifting the focus of that forgiveness and to simply forgive every home owner's mortgage debt. ^**msc1

The Quid Pro Quo ---The bankers forgive all homeowner mortgage debts and we, the people, forgive the super-wealthy bankers for almost a hundred years of fraudulently charging us and our parents and grandparents trillions of dollars in interest on the use of make-believe money. **m2

We could even be generous and say that the multiple-billions of taxpayer dollars that they have recently received as our contribution to their well-being.

Time Required: The results would show up immediately. The home foreclosure problem would end immediately

http://www.Learn-From-History.com/debt-forgiveness.html#53 ²

http://www.Learn-From-History.com/debt-forgiveness-story.html#53 ²

Rating the Options ...

Rating Each of the Above Four Options

In terms of it's ability to avoid or
eliminate these negative side effects:

To avoid a social morass of grief, misery, fear, and poverty

To, as much as possible, avoid lives lost and/or destroyed

To minimize the amount of time, effort, money, resources wasted, and labor misdirected

To significantly reduce environmental damage, and species extinction.

To reverse global warming before it becomes unstoppable.

To avoid the loss of personal, social, and political freedom

To avoid stifling freedom of speech

To avoid the loss of heath, joy, and safety

To avoid the loss of consistency, dependability, convenience. etc.

In terms of it's ability to produce these positive results:

To rapidly resolves the home foreclosure crisis.

To transform all (or almost all) of the banker's toxic assets into what they really are -- the American working-class-people's personal homes.

To end the home foreclosure crisis in a matter of days not years.

To prevent millions of homes from being seriously damaged or destroyed by the home foreclosure process.

To prevent the financial devastation of millions of families.

To keep millions of families in their homes

To significantly re-empower the working class.

To shift the cost of resolving the home foreclosure crisis from the taxpayer to the bankers and financial speculators.

To solve the problem with the least expensive over all financial cost.

To create a system that has a high probability of success.

To create a system that takes care of people first.

To instill confidence in the political and economic system system and faith in the American Dream?

To in and of itself be a powerful, positive economic stimulus package.

To create a system that is paid for by the super-wealthy and not by taxpayers.

Each option is rated on a scale of
one to one-hundred.

Please see the Editor's Note below

1) Continue Pumping Billions of dollars
into the financial sewer:

A -- Eliminate (above listed) negative side effects ------	Rating: 00
B -- Produce (above listed) positive result ---------------	Rating: 00
C -- Probability of success at elimination the home foreclosure crisis --------------------------	Rating: 00
D -- Probability of success at elimination the over all financial crisis ---------------------------	Rating: 00
E -- Ability to trigger a basic restructuring of the entire financial system --------------------------	Rating: 00
Total Score -----------------------------------------	00

2) Use the NCW Win-Win Business
Management Structure by itself:

A -- Eliminate (above listed) negative side effects ------	Rating: 20
B -- Produce (above listed) positive result ---------------	Rating: 30
C -- Probability of success at elimination the home foreclosure crisis --------------------------	Rating: 30
E -- Probability of success at elimination the over all financial crisis ---------------------------	Rating: 30
F -- Ability to trigger a basic restructuring of the entire financial system --------------------------	Rating: 100
Total Score -----------------------------------------	210

3) Split the Banking System into Two Parts:

A -- Eliminate (above listed) negative side effects ------	Rating: 60
B -- Produce (above listed) positive result ---------------	Rating: 60
C -- Probability of success at elimination the home foreclosure crisis --------------------------	Rating: 90
E -- Probability of success at elimination the over all financial crisis ---------------------------	Rating: 70
F -- Ability to trigger a basic restructuring of the entire financial system --------------------------	Rating: 1 00
Total Score -----------------------------------------	380

4) An across-the-board,
homeowner debt forgiveness

A -- Eliminate (above listed) negative side effects ------	Rating: 100
B -- Produce (above listed) positive result ---------------	Rating: 100
C -- Probability of success at elimination the home foreclosure crisis --------------------------	Rating: 100
E -- Probability of success at elimination the over all financial crisis ---------------------------	Rating: 100
F -- Ability to trigger a basic restructuring of the entire financial system --------------------------	Rating: 1 00
Total Score -----------------------------------------	500

One of the major differences between options two, three, and four is the speed at which they can be effectively implemented.

Option two would take at least a years to have a significant impact.

Option three would take a few months to set up and implement.

Option four will show up in a matter of days.

The best results will come by beginning with option four and then following up immediately with both options two and three.

Editor's Note: The numbers in the above charts are estimates. They are approximations based this author's assessment of the circumstance and the available evidence. They are not exact numbers and are not intended to be exact numbers. The goal is not statistical perfection, rather it is to give readers a sense of the vast differences between the above four choices. Even if the numbers are significantly inaccurate, they still show us the vast differences among the four choices.

Notes and References

Why Taking Action Is Urgent

The financial crisis must be solved immediately so that we can turn our attention to saving what's left of the environment. Human overpopulation and human activity have turned on Nature's Doomsday Machine. All of our children and our grandchildren's lives are on the line, including those of the super-wealthy.

If the environmental problem is not resolved, Global Climate Change will soon reach the point of becoming unstoppable. This will result in billions of people suffering and dying under the deadly ravages of major environmental disasters. If we allow Global Climate Change to continue unchecked, everything else that humans do, financially or otherwise, will be irrelevant.

Reference: Nature's Doomsday Machine

http://www.HowToReverseGlobalWarming.info#NaturesDoomsdayMachine

^**msc1 **msc1 We are not suggesting that real estate speculators be included, here, but only the primary residence a person owns, even if he or she does not live in that house. We suggest this because some home owners rent their own homes and live in a rented home. They use the difference between the rent they receive and the rent they pay as part of their financial support.

**m2 **m2 Fiat Money: Fiat money is a gloried form of "Monopoly" money. It's make-believe money. It's nothing more than bookkeeping ledger entries or paper money which the Federal Reserve creates on their printing presses with absolutely no supervision. The real value in this money is zero, zip, nada, nothing. It steals its value from the money already in the economy -- from the money in your wallet, in your bank accounts, and in your retirement investments.

The Finance industry then charges its customers hard-earned, interest money (money created with blood, sweat and tears) for the use of this non-existent, make-believe money that they (the bankers) simply plucked from the air or printed on the Federal Reserve's counterfeit-money printing presses. With this make-believe money, the bankers control, dominate, and milk the people for real money.

Here's how the scam works: You and I, small business owners, and the general public borrow their money. We work diligently to produce goods and services and then we give/pay some of our real goods and services to the lenders (in the form of money) as payment for the use of their non-existent money. Then while we struggle to survive, the super-wealthy then live extravagant lifestyles using this stolen wealth. This technique for milking the public for money has been going on for so many years that it's considered normal and almost nobody questions the validity of the system.

http://www.Money-God-Money.info/money-defined.html#FiatMoney

http://www.EconomicSanity101.com/small-business-funding.html#WhatIsMoney ²

^**fb2 **fb2 The Federal Reserve: -- Theft disguised as service.
http://www.Money-God-Money.info/federal-reserve.html#55

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