53 - Phase 1 - The Magic Power of Forgiveness

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Nov 2011

A Four-Phase Approach to

Creating a Public-Service Banking System

Phase One

The Magic Power of Forgiving

Phase one has four pages. This is page two of four pages

The Magic Power of Forgiving

Magic Power of Forgiveness . . . March 2009

The Magic Power of Forgiveness

Perhaps a little bit of across-the-board-forgiveness is in order today. Forgiveness is, after all, at the heart of our moral, cultural, and religious values. We certainly have Biblical support for forgiveness. We find forgiveness at the very heart of Christianity. Here's a quote from Jesus while the Roman soldiers were nailing his body to the cross: "Forgive them Father, they know not what they do." And then there's the core, Christian prayer (the Lord's Prayer) also at the heart of Christianity, which in part says, ". . . Forgive us our trespasses as we forgive those who trespass against us. . . "

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.

What if we refocused that forgiveness and, instead, forgive all loans to private individuals for their private use, including 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

What Would This Accomplish

It would eliminate all (or almost all) of those toxic assets (the bad home loans) that the bankers and the government bureaucrats seem to be so concerned about. Reference: Seeing the Ignored Face of "Toxic Assets."

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

It would prevent millions of homes from being seriously damaged or destroyed during the foreclosure process.

It would prevent the financial devastation of millions of families.

It would significantly re-empower the working class.

It would shift the cost of resolving the home foreclosure crisis from the taxpayer to the bankers and financial speculators who were responsible for creating both the overall financial disaster and specifically, the home foreclosure crisis.

It would be infinitely cheaper than the present proposed solutions.

It would be much faster than the present proposed solutions.

In sharp contrast to the very questionable results of taxing the public to reward the multi-billionaires for their wild speculation spree, home-loan-debt forgiveness would actually work. The proof of this action would show up immediately in numerous ways, such as no more home foreclosures.

It would be the people taking care of the people.

The result would be a re-emergence of both confidence in the political and economic system system and faith in the American Dream.

Forgiving all personal and debt would also be the ultimate economic stimulus package -- a stimulus package that wasn't simply taking taxpayer money out of one pocket and putting it in another. (See the section below titled: Let's Talk Numbers.)

Lets Talk Numbers

Editor's Note: This section uses home loans as its example. Forgiving other personal loans would significantly increase the positive results shown here.

The numbers below are not exact, they are approximations based upon Internet searches. The goal is not statistical perfection, rather it is to give readers a sense of the vast amounts of the money that is regularly being transferred from the pockets of the people into the vaults of the money lenders under highly unethical circumstances.

According to WikiAnswers.com, there are approximately 75 million home owners in the United states. The average home loan is $225,000, and the average monthly payment is $1,780 per month. Regarding the average interest rate, we found a wide range of rates. To avoid being accused or exaggerating, for our purposes we will make an estimate that is at the low end of the scale and use five percent.

75 million homes X $225,ooo per loan = about 17 trillion dollar in outstanding home loans.

At five percent interest rate, that's about 85 billion dollars per year in interest payments being transferred from American home owners to the banks and other home mortgage lenders. ^**msc2 Each month those 75 million homeowners each pay an average of $1,780 to the bankers -- that's about 133 billion dollars per month (just under 1.6 trillion dollars per year) being transferred from the pockets of the American home owners to the money vaults of the banks and other home mortgage lenders.

Now let's ask that tough question: Who has 17 trillion dollars to loan to home owners? NOBODY! Then, where did all that loan money come from?

Charging Money for the Use of an Illusion

The financial industry is unique in that it's the only industry that has succeeded in lending/selling customers a non-existent product and charging its customers rent (interest) on the use of its product.

Lenders have been lending make-believe money. The money that the bankers have been, and still are, lending their customers is non-existent money. Do you recall the child's game called "Monopoly." Well, the bankers have been lending you a glorified version of Monopoly money. They call it fiat money.

Borrowers are paying their hard-earned money (transferring some of their goods and services) to the super-wealthy money lenders for the use of this non-existent (fiat) money. **m2

Now let's take this one step farther. Suppose the bankers forgive all homeowner mortgage debts and we, the people, forgive the super-wealthy bankers for almost a hundred years of charging us and our parents and grandparents trillions of dollars in interest on the use of make-believe money.

What would be the result? It would create the ultimate economic stimulus package! 75 million homeowners would have an average of $1,780 each to spend each month for goods and service. That's about a 133 billion dollars economic stimulus package inserted into the economy each and every month. The home foreclosure problem would be stopped dead in its tracks. The so-called toxic bank assets would simply disappear. The results would show up in a matter of days not years. It would cause zero inflation. It would cost the taxpayers zero dollars. It would dramatically stimulate the economy.

We could then focus on the ever-growing threat to all humanity -- Nature's Doomsday Machine. (See the section below titled: Additional Factors to Consider)

What Would Happen to the Banks?

The story presently being peddled to the public that

we need to keep the offending, financial-industry executives in place and reward their wild excesses with multi-billion-dollar bonuses

would be exposed for what it is -- a diversionary tactic designed to distract attention from the core truth. The core truth is that the banking industry is ripping off the public by peddling non-existent money and charging the public "blood, sweat, and tears" for the privilege of using their illusion.

Forgiving every home owner's mortgage debt would trigger a much needed overhaul of the banking system. Several pages on this website offer positive, easy-to-implement ways to re-design the banking system.

This is the end of -- The Magic Power of Forgiveness.

Take me to the next section

Phase One continued ........ A Debt-Forgiveness Story .

Section Content

Home Page

Setting the Context .

Phase One -- Debt Forgiveness

.......... Debt-Forgiveness .

.......... The Magic Power of Forgiving <-- You are here.

.......... A Debt-Forgiveness Story -- Twice Upon a Time

.......... Additional Factors to Consider

Phase Two -- Banking System Redesign

.......... Split Banking System into Two Parts

.......... Create Corporate-Foundation Partnerships

Phase Three -- Fund Government Social Services

.......... Profits Fund City and County Governments

.......... Profits Fund State Governments

.......... Fund Federal Government

Phase Four -- Wake up Call / Reality Check

.......... Exposing Common illusions

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....

Notes and References

^**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 elsewhere.

^**msc2 **msc2

In 1992, interest rates were as high as 8.98% for a thirty-year fixed loan. An average rate over the last seventeen years would more accurately be in the range of 6.5% making the interest payments going to the banks more like 110 billion dollars per year.

**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

^**mc7 **mc7

Here are some question that we invite the the super-wealthy bank owners to consider answering for themselves:

Do I have money, of does money have me?

What about my health, my family life?

Am I sexually fulfilled?

Do I have peace of mind?

If money were your physical body, you would be considered obese. What are really hungry for? You already have more than enough money to last several lifetimes, so striving for more money is a false goal. Perhaps it's time to take a break from making money and ask that tough question: "What is it that I am really hungry for?"