Developing Economic Reforms by Catherine Austin Fitts

I don't agree with all of this but it's good to get ideas out there.

>>>>


Obama has proposed restoring the PAYGO policy that prohibits increases in federal spending without a way to compensate for the lost revenue.

So what can a new Administration propose that would address our economic problems under the umbrella of PAYGO? Why not move away from the central banking / warfare model and decentralize the economy in a way that actually makes money for people?

Here are some initial ideas that could reduce the drain on the real economy and kickstart new growth. Please post your own ideas below…


1. Return the issuance of currency to the US Treasury and create an alternative depository function rather than using the NY Fed;

2. End the manipulation and suppression of the precious metals prices;

3. Reverse changes over the last decade that allow financial institutions and credit card companies to practice usury;

4. Implement compliance with laws related to audited financial statements for the US government and publish the federal budget and financials on a place-based basis so that voters can see the federal financial performance by congressional district and county;

5. Publish federal agency contract budgets, contracts and payments;

6. Publish totals for intelligence agency and national security budgets that are currently confidential;

7. Create a process for streamlined waivers whereby county and states may apply for an receive waivers of federal laws and regulations that permit reengineering of federal programs, credit, expenditures and rules within communities that are PAYGO neutral or positive and improve return on investment to taxpayers;

8. Encourage the creation and use of local currencies;

9. Direct the Securities and Exchange Commission to review and improve methods for non-accredited investors to invest locally;

10. Legislate a special tax on recipients of bonuses resulting in compensation in excess of that of the senior civil service for firms receiving bailout benefits;

11. Authorize and encourage federal agencies to engage in debt-for-equity swaps with municipalities and counties that wish to assume ownership and responsibility for local assets owned by the US government or any financial institutions in federal government conservatorship or financed by federal government bailouts and arrange for market makers in the resulting equity securities;

12. Encourage the prototyping and implementation of energy and healthcare technology and techniques; use enforcement agencies and offices to protect entrepreneurs and venture capitalists from dirty tricks by public and private parties attempting to prevent the application of energy-saving and life-saving knowledge;

13. End the chemtrails spraying program;

14. Require strict labelling for all genetically modified food, phase out its legality;

15. Promote self-sufficiency skills and financial literacy in both grade school and high school curriculums;

16. Pardon and release from prison non-violent offenders of drug use crimes;

17. Outlaw most financial derivatives and authorize the creation of exchanges and stocks that have the authority to prevent the creation of puts, options and derivatives related to their activity;

18. Encourage local government to use articipatory budgeting.

19. Authorize and fund a third party audit of the US gold reserves.

20. Determine and implement provisions to increase the ease with which funds in 401ks and IRAs can directed to local investment.

http://solari.com/blog/?p=1792#more-1792

...the underfround bunkers on Bush's property

<snip>
Derivatives: The Quadrillion Dollar Powder Keg
by BOB CHAPMAN (THE INTERNATIONAL FORECASTER)

(Oct 12, 2008) The heart of the current crisis is the quadrillion plus derivative market. Roughly half of these derivatives are listed on exchanges, but the other half are on the totally unregulated, totally opaque, poorly documented and mostly naked (no reserves or collateral given to secure performance) OTC derivatives market.

The subprime and Alt-A mortgage debacles, and the soon to be recognized prime mortgage debacle, are little more than a side show with what will become their one to two trillion in losses which the Phony-Fraudie nationalization and the Paulson Ponzi Plunder Plan are meant to address, albeit futilely.

However, the real estate derivative problems created by these debacles have been important catalysts leading to the loss of confidence that is preventing banks from lending to one another, because these problems, like a Zippo lighter on high flame, metaphorically speaking, have lit the fuse leading to the quadrillion dollar powder keg waiting to blow any day now, and Hanky Panky and Helicopter Ben are running around like raving, corporatist, fascist lunatics trying to stomp out the lit fuse before the whole world financial system goes up in a blaze of glory.

<cut>
It is only fitting that the credit-default swaps lie at the heart of the problem, which the fraudster banks now face. When you look at what has been done by these reprobates in the past, this is a most fitting fate for them. First, they had President Reagan pass an Executive Order in 1988 forming the President's Working Group on Financial Markets so they could manipulate markets 24/7 with the PPT. That was forced by the 1987 Stock Market Crash, an event orchestrated by the Illuminati to convince everyone that we had to have an interventional team to stop such extreme market gyrations.

Then Slick Willie does away with Glass-Steagall in 1999 to do away with the system of checks and balances that allowed banks to pass on paper that was falsely rated as AAA on to their patsy clients. Then for a double whammy, Slick Willie leaves OTC derivatives unregulated with the passage of the Commodity Futures Modernization Act in 2000, so Wall Street could write insurance policies called credit default swaps without having to comply with annoying, silly and burdensome rules requiring such things as loss reserves or an insurable interest. These were all passed to cover up the devastating losses our economy was suffering on account of free trade, globalization, off-shoring, outsourcing and both legal and illegal immigration.

The PPT moved our markets, contrary to what market fundamentals would indicate, to give the appearance of prosperity when we were really getting hammered by the free trade agenda. Our government chimed in with their deceitful and fraudulent economic statistics by use of hedonics.

Then credit default swaps were used to falsely suppress interest rates by insuring the risk of default for potential investors, and never mind that there were no loss reserves, collateral or requirement of an insurable interest. AAA credit was assigned to otherwise risky companies based on Ponzi scam bond insurers who were insuring bonds with little or nothing to back up their promises.
<MORE>

http://www.conspiracyplanet.com/channel.cfm?channelid=102&contentid=5462&page=1

http://www.conspiracyplanet.com/channel.cfm?channelid=102&contentid=5462&page=2

...also this short report:

<snip>
NOW: Worst Financial Crisis Since Great Depression
by BOB CHAPMAN

(Nov. 1, 2008) Three good reasons why gold is not performing as it should under the current circumstances: First reason: manipulation. Second reason: rampant manipulation. Third Reason: incessant, nonstop, unabated, fiendish manipulation.

Remember, these evil Illuminist miscreants know, by virtue of owning, via bribe and/or compromise, most, if not all, of the relevant market owners, managers and regulators, as well as most of the relevant judges and politicians who oversee these markets, the precise trading positions for every major player in the market, including, but not limited to, commercial banks, investment banks, hedge funds, sovereign wealth funds, insurance companies, pension funds and endowments.

Also remember, they are the ones that sold most of the toxic waste and credit risk insurance that now plagues the market, and, in fact, they are the ones who created it.

And, yes, despite what they tell you, they even know, to a degree, where many of the losses lie for subprime derivatives and credit default swaps, but they of course won't tell you that they know.

http://www.conspiracyplanet.com/channel.cfm?channelid=102&contentid=5509