Colleges & Universities do not teach this economic theory. It has been suppressed, and I'm going to change that right now!
Surely Logic & Rational thought demands, that in a free-market system, there is room for a Binary economic system, that will impact poverty, democratize access to capital ownership and evolve society.
There is currently $5 Trillion of economic capital ownership assets, not being utilized within our annual GDP.
Or, we can go on letting a small handful of people, control the economy and the money system
It's your choice, educate yourself.
Lets thoroughly debate, discuss and be informed on a Just Third Way, of practical economic thinking.
Understanding Binary Economics:
The Binary Economics of Louis Kelso (cesj.org)
A Practical Binary Economy is within reach, if LEADERS will embrace new ideas.
The War on Poverty federal government programs have failed.
It is not even a subject for debate. Use any metric and measurement. The Poverty rate in 1968 was 12.8%, in 2020 it was 11.4%.
Over 50 years of government programs/spending and all we accomplished is creating a dependent class for government money. That is NOT economic Freedom.
No building free-market opportunity for those at the low end, no value-wealth creation, no capital or property ownership. It is not rational, logical or PRACTICAL to keep using a War on Poverty government system, that was a relic the day it was signed into law.
36 million Americans are trapped in a government system of dependency.
This is not my opinion, not even my analysis; this is a fact. The government's own poverty numbers back up the failure of the federal government's policies.
It is time for Practical Binary economics, that allows the Private sector, the Federal Government and the Federal Reserve, to each contribute resources, that can impact poverty, through the Economic Democracy Act.
What follows is an economic plan put together in 1984 by the Center for Economic & Social Justice(CESJ).
Review everything that follows, as you have never seen anything like this before.
This is a complex plan, a BIG solution and it will take a team of Leaders to make it happen. This is how you solve a poverty problem within our economy. This is how you build wealth within the lower parts of our economy. It is not simple, it will not happen in 5 minutes.
I've already been a Leader on this and I'll continue to be.
Please note, I've worked as a volunteer project team member with the CESJ for 11 years.
I would not invest that much of my time, if I wasn't completely convinced this is a world-class economic policy.
There are other aspects to poverty, that must be worked on at all levels; this is the part I can and will work on.
Please work with me and I will work with you.
Binary Economics is a PRACTICAL Solution:
• The proposed Economic Democracy Act (EDA) would offer a private property and just, free market-oriented national policy to foster “capital self-sufficiency” as a supplement to wage incomes and as a basis for all Americans to achieve lifetime prosperity and economic independence.
• The EDA follows the precedent of Abraham Lincoln’s Homestead Act of 1862 that democratized the ownership of limited frontier land. The new economic policy would universalize access to asset-backed money in the form of insured capital credit. These loans would be repaid with “future savings” from each year’s profits from the new capital added that year. This 21st century equivalent of the 160 acres of land would be extended annually to every citizen and permanent resident. Every citizen would thus gain equal access to the means to accumulate over his or her lifetime an ownership stake in the ever-expanding technological frontier.
• The EDA would launch America as the first nation to promote the fundamental human right articulated in the “Universal Declaration of Human Rights” at the formation of the United Nations on December 10, 1948. Article 17 of the UDHR stated: (1) “Everyone has the right to own property alone as well as in association with others. (2) No one shall be arbitrarily deprived of his property.” This would encourage other countries, including those led by communists or monopoly capitalists, to adopt America’s “Just Third Way” model for a more democratic and prosperous future — and truly free, global market system — for every person.
• The Economic Democracy Act is based on four pillars of a free and just market economy — (1) expanded capital ownership, (2) limited economic power of the state, (3) restoration of free and open markets, and (4) restoration of the full rights of private property for every child, woman and man from birth until death. The EDA would strengthen the political constituency for linking supply-side with demand-side economic policies. It would add social justice and compassion to free market principles, and would reduce the political pressures for redistributive, anti-growth and protectionist policies.
• The Economic Democracy Act would introduce reforms into the monetary and tax systems geared toward maximizing sustainable private-sector growth without inflation, while systematically building a nation of citizenowners. Along with shifting from a debt-backed to an asset-backed currency, a simplified tax system would be introduced to encourage corporations to finance their growth more democratically.
• The EDA would reduce the pressure of increasing Social Security and Medicare costs, leaving in place a social safety net for individuals whose capital and labor incomes are insufficient to meet their basic needs.
• The Federal Reserve would revive its existing powers under Section 13(2) of the Federal Reserve Act. This opens the discount windows of its twelve regional Federal Reserve banks to create through local commercial and cooperative banks sufficient asset-backed money and insured capital credit to finance the estimated $4.976 trillion needed annually for new plant and equipment, renewable energy, green technology, new rentable space, and new infrastructure. Rather than flowing only to the already wealthy, the new money and credit would be channeled through financing mechanisms such as individual Capital Ownership Accounts (COAs). Accessible to each citizen, these capital ownership mechanisms would systematically create new owners of the new wealth without violating property rights of current owners over their existing assets.
• Five central banking innovations would be introduced: (1) Qualified new industrial, commercial, and agricultural capital investment would be financed with newly created, private sector, asset-backed money and insured, nointerest (but not no-cost) self-liquidating credit extended through the commercial banking system and rediscounted at regional Federal Reserve Banks in ways that create new owners. (2) Monetization of government deficits and speculative securities would be phased out. (3) Open market operations would be limited to dealing in qualified private-sector securities once all government debt is retired. (4) 100% reserves would replace today’s fractional reserve banking by immediate rediscounting of all qualified new capital investment. (5) Private sector insurance and reinsurance companies would offer capital credit insurance and reinsurance to replace reliance on traditional forms of collateral
1. I will build a team and coalition of the following groups, people, corporations, think tanks, universities:
NOTE: Anyone who wants to work on this with me, will be welcome to do so. Please note, this means you will be publicly tied to this. There will be no 'hanger ons', no 'lip-service'. No photo ops. Everyone will do the hard work.
Center for Economic and Social Justice(CESJ):
Since this is their economic plan, they will be at the very center of pushing this forward.
I will ask them to set up weekly Zoom meetings for members of Congress, other public officials at other levels, and all the other groups, people , etc., that need to get educated by the CESJ staff on the EDA.
Every member of Congress will be given a full packet, on all the mechanics of the EDA.
I will work very closely with the Congressional Black Caucus.
I'll build a relationships with each member of the House Financial Services Committee.
This is the committee that will be scheduling hearings as it falls under their domain.
c1. I will personally make sure every member of this committee hears from as many supporters of this proposal as possible.
This is critical, so that it gets voted out of committee.
c2. Then heavy pressure on the Majority & Minority Whips and their assistant whips.
This is how you make sure it comes to a floor.
c3. There will be many other opportunities and I'll be looking for them.
c4. Huge media blitz. Constant media attention on the issue of Poverty. Relentless Action on this.
I will start a working dialogue with the following regional Federal Reserve Banks, as they will be addressing the needed changes under Section 13 of the Federal Reserve Act:
1. Federal Reserve Bank of Chicago
1a. Branch office in Detroit
2. Federal Reserve Bank of New York
3. Federal Reserve Bank of San Francisco
4. Federal Reserve Bank of Richmond
Governors and State Legislative leadership of every state.
The following think tanks, organizations, social activist groups:
Note: This is a basic list, to build support in Congress and help with a national appeal to work on Poverty. Any groups not on this list, can contact me as well. The ones listed here are a cross-section of Economic, social, political groups.
I intend to contact hundreds more.
1. Brookings Institute
3. Center for Constitutional Rights
4. Constitutional Accountability Center
5. American Freedom Foundation
6. UAW Solidarity House
7. 100 Black Men of Chicago (There are chapters in other cities as well. All will be invited)
8. Center for Responsive Politics
9. Unite America
10. American Political Science Association
12. National Association of Colored Women's Clubs, Inc
13. Black Women's Agenda
14. National Association of Black Social Workers
15. Manufacturing Day
16. The American Petroleum Institute
17. National Association of Home Builders
18. National Association of REALTORS
19. National Association of Hispanic Nurses
20. League of Women Voters of the U.S.
21. National Organization for Women (NOW)
23. The National Action Network
24. The King Center
25. Farmers Association
26. Organic Farmers Association
27. Independent Voters Association IVA
28. Independent Voters of America
29. Political Moderates
30. NITIC - National Independent Truckers Insurance Company, RRG.
31. Fair Fight Action
32. When We All Vote
33. National Military Spouse Network
34. National Military Family Association
35. Retired Military Association
36. Veterans of Foreign Wars VFW
37. The American Legion National Headquarters
38. Democracy Found
39. The Institute for Political Innovation
40. She Should Run
41. Vote, Run, Lead
42. Center for American Women and Politics
43. Race Forward
44. Alliance for Justice
45. Disabled American Veterans
46. AMVETS National Headquarters
48. Sons of The American Legion
49. Patriots United
50. Defense of Freedom
51. All Lives Matter
53. Legal Association for Women
54. Community Justice inc.
55. Chattanooga Libertarian Party
56. Huntsville Tea Party
57. Alabama Tea Party Network
58. Red Blue Divide
59. People for the Sovereign Individuals of America
60. People fed up with Politicians
61. PRAY FOR AMERICA
62. Proud Praying Americans
63. Fair Tax & Term Limits
64. Poor People Campaign: A national call for moral review
65. Indigenous Rising Media
66. Indigenous Action
67. Working Class History
68. Independent Politics
69. End the Two Party System
70. Abolish the Two Party System
71. Say no to the democrat and republican Zombies
2. How I will sell this to everyone involved:
This part is simple, but very complex. I'm selling this for what it truly is, a Legitimate and original plan, for impacting the economic component of Poverty.
EVERY elected official in America who has ever said one word about wanting to work on poverty, will be hearing from me.
Specifically, the CH Act should be launched it the following high poverty areas:
A. Wayne County, MI.
B. Baltimore & Cumberland, MD.
C. St. Louis, MO.
D. East St. Louis, IL.
E. Chicago, IL.
F. Los Angeles, CA.
G. Washington, D.C.
H. New York, NY.
2a. Constant media interviews. I'll do any media interview, to talk on this and explain it.
3. As a member of Congress, from the Constitution Party, I will be working with the entire party membership. Every member, within their District, will be encouraged to get directly involved and convince their Democratic or Republican member of The House, to get onboard with my legislative proposal.
4. If you, as an individual citizen, would like to help at the grass-roots level; send me an E-mail.
A 25 - 50 member street-level group of volunteers from our District, will help a lot.
This is your chance to be directly involved with legislation that you care about.
5. Take a moment and let this sink in. If I win our District, I will become the first candidate to defeat the Dingell Family Empire in 90 years.
This will give me immediate national stature, and of course; huge enemies in Congress.
It will also give me people in DC who will be falling all over themselves, to hook their train to mine. I know this for a fact. All of that I will use to benefit the Constitution.
It will also offer me an opportunity, to have a one-on-one meeting with the President, and push my fundamental issues forward.
Yes, this is the way things really work. I understand how to use the levers of power, that will be at my disposal.
I'll have a national platform and I wull be using the media to the actual Advantage of Constitutional issues. What a difference that will be.
I put all of this into point 5, so that you understand, that I've spent a lot of time figuring out how I will use each aspect of the office I'll hold.
The Economic Democracy Act/Capital Homestead Act is a comprehensive national economic strategy for empowering every American citizen, including the poorest of the poor, with the means to acquire, control and enjoy the fruits of productive corporate assets.
This long-range agenda involves major restructuring of our tax system and our Federal Reserve policies to lift unjust artificial barriers to more equitable distribution of future corporate capital and faster growth rates of private sector investment. It would shift primary national income maintenance policies from inflationary wage and unproductive income redistribution expedients to market-based ownership sharing and dividend incomes.
The Capital Homestead Act’s central focus is the democratization of capital (productive) credit. By universalizing citizen access to direct capital ownership through access to interest-free productive credit, it would close the power and opportunity gap between today’s haves and have-nots, without taking away property from today’s owners.
As summarized below, the Economic Democracy Act is designed to:
1) Generate millions of new private sector jobs by lifting ownership-concentrating Federal Reserve credit barriers in order to accelerate private sector growth linked to expanded ownership opportunities, at a zero rate of inflation.
2) Radically overhaul and simplify the Federal tax system to eliminate budget deficits and ownership-concentrating tax barriers through a single rate tax on all individual incomes from all sources above basic subsistence levels. Its tax reforms would:
a) eliminate payroll taxes on working Americans and their employers;
b) integrate corporate and personal income taxes; and
c) exempt from taxation the basic incomes of all citizens up to a level that allows them to meet their own subsistence needs and living expenses, while providing “safety net” vouchers for the poor.
3) Restructure inheritance and gift taxes (“death taxes”) to discourage transfers from one generation to the next, of “excessive” concentrations of wealth (i.e., when the income generated by one’s capital far outstrips one’s capacity to consume the goods and services of others, and where one’s unconsumed income is simply reinvested in more capital acquisitions, resulting eventually in the monopolization of future capital ownership opportunities by the already wealthy). In order to promote individual initiative, capital self-sufficiency and limited economic power of the state, inheritance policy should encourage the broadest possible distribution of private property ownership in income-producing assets.
The “Capital Homestead Account” or “CHA” is the primary tax-sheltered vehicle for the democratization of capital credit through local banks. It would enable every man, woman and child to accumulate wealth and receive dividend incomes from newly issued shares in new and growing companies, without being taxed on the accumulations (including property and shares gained through inheritance, savings, and arrangements like ESOPs, CSOPs and CLBs). In addition to serving as a source of capital credit for corporate workers, CHAs would also provide an ownership-building account for individuals who do not work for profit-making enterprises, such as school teachers, civil servants, military personnel, police, and health workers, and for individuals who have no remunerative employment, such as the disabled, the unemployed, homemakers and children.
The “Citizens Land Bank” or “CLB” [also known as the for-profit Citizens Land Cooperative (CLC) or Community Investment Corporation (CIC)] allows residents of a community to share in the control and profits associated with land planning and development. The CLB would encourage governments at all levels (from the community to the highest governmental level) as well as non-profit entities, to distribute the ownership of land and natural resources free to all citizens. This would encourage citizens to participate in development so they can share in planning, governance and lease incomes from the use of land and natural resources.
The “Employee Stock Ownership Plan” or “ESOP” channels low-cost credit for financing the needs of business corporations (such as expansion, capitalization and ownership transfers), and links private sector workers to ownership shares and dividend incomes in the companies for which they work. Shares acquired on credit by worker-owners are paid for out of the future corporate profits they help to generate.
The “Consumer or Customer Stock Ownership Plan” or “CSOP” lets customers of utilities share in the governance and profitability of “natural monopolies,” like telecommunications, water and power companies, mass-transit and cable television.
To meet Social Security and Medicare entitlements, and provide for their eventual phasing out as the mainstay of retirement income for most Americans, and to shift the Federal Government’s role from today’s income redistribution policies to the more limited and healthy role of encouraging economic justice through free enterprise growth, a Capital Homestead program would:
Promote Private Sector Growth Linked to Broadened Ownership. Recreate in the 21st Century the conditions that resulted from the first Homestead Act of 1862, including full employment, declining prices, and widespread, individual and effective ownership of income generating assets. Set a realistic long-term target, based on the nation’s industrial growth potential, to achieve a minimum Capital Homestead stake for every American family. As an initial measure, this could be geared conservatively toward an equity accumulation of, for example, $150,000 over the next 20 years.
Stimulate Maximum Growth, with a Balanced Budget and Zero Inflation Rate. Remove barriers to maximum rates of sustainable and environmentally sound, private sector growth to achieve a balanced Federal budget and a zero inflation rate under the Capital Homestead program.
Establish a Tax System That Stimulates Economic Growth and Jobs, and is More Accountable to Taxpayers. Re-write and radically simplify the existing Federal tax system to automatically balance the budget. Keep more money in the pockets of taxpayers from their initial earnings to cover their own health, education, housing and other basic household living expenses. Make Congress more directly accountable and responsive to all taxpayers. Eliminate all tax provisions, personal deductions, tax credits, and exemptions (except for the front-end exemptions for adults and dependents) that unjustly discriminate against or discourage property accumulations and investment incomes for poor and non-rich families.
For example, a single tax rate on all sources of labor or capital income over exemptions would be automatically set to meet all Federal entitlement and other programs, and to pay down past deficits. To meet personal living costs the basic incomes of all taxpayers up to $30,000 per adult and $20,000 per dependent (or $100,000 for a family of four) would be free from any income or payroll taxes. To increase taxable income incomes for all citizens, corporations could escape from the multiple tax on corporate incomes by deducting dividend payouts.
Keep Social Security and Medicare Promises. Keep existing promises and reduce the unsustainable burden on the Social Security and Medicare Systems, by enabling every American to accumulate sufficient wealth-producing assets to provide each person with an adequate and secure taxable income from property, independent of Social Security and Medicare benefits and incomes from other sources. Based on conservative projections of U.S. growth potential, by age 65 a child born today could accumulate a capital estate of nearly $500,000, generating $1.6 million in after-tax dividends over that period.
Inheritance and Gift Tax Reforms. To create a more just and balanced free market economy and discourage monopolies, super-rich individuals should be encouraged to democratize their enormous accumulations from one generation to another. Gift and estate taxes should not be imposed on the donor or his estate. Rather, taxation should be based on the size of the recipient’s total accumulations after receiving the gift or bequest. If the value of the recipient’s asset accumulations (other than one’s primary home) after receiving the gift or bequest makes the recipient richer than, for example, $1 million, the recipient would pay a gift tax on the excess accumulations.
Restructure the Credit and Tax Systems to Encourage Universal Health Care through the Private Sector. Capital Homestead reforms, supplemented by health care vouchers for the poor, would provide a sustainable way to finance the health care system. These reforms would empower each citizen and family with the means to enjoy and pay for affordable, quality health coverage of their choice. Through market-disciplined, comprehensive health care enterprises that are owned and controlled by health care providers and health care subscribers (patients), the doctor-patient relationship could be restored, while providing greater insurance portability, accountability and lower administrative overhead costs throughout the system.
Solve the Home Foreclosure Crisis and Make Home Ownership Accessible to all Citizens. Starting in communities with homes whose market values are deflated due to the subprime mortgage crisis, resident-owned Homeowners’ Equity Corporations (HECs) could receive interest-free credit to buy up the foreclosed properties. As occupants of the homes in default pay the HEC their monthly rents (which could be supplemented with housing vouchers for the poor), these would be applied toward debt service, using pre-tax dollars to pay off the loans that the HEC used to purchase the foreclosed properties. As they make their regular monthly lease payments, these renters would become full owners of HEC shares and their dwellings.
Stop Federal Reserve Monetization of Government Debt. Terminate use of the Federal Reserve’s powers to create debt-backed money, to support foreign currencies, or to buy and sell primary or secondary Treasury securities. This would reduce excessive Government spending and improve accountability. It would force Government to borrow for deficits directly from savers in the open markets.
Stabilize the Value of the Currency. Require the Federal Reserve to create a stable, asset-backed currency to encourage ownership by all citizens of productive private sector assets rather than non-productive public sector debt or future ownership monopolies.***
*** Ideal for Trade-Coin.
Reduce Dependency on Past Savings for Financing Growth. Require the Federal Reserve to distinguish between “productive” and “non-productive” uses of credit, by providing interest-free money to expand bank credit to enable every American to become an owner of a viable accumulation of new income-producing assets. This would reduce America’s dependency on past savings, corporate retained earnings, or foreign government wealth funds advantaged by America’s growing trade imbalances.
Require the Federal Reserve System to supply sufficient money and credit through local banks to meet the liquidity and broadened ownership needs of an expanding market-disciplined economy. Such “Fed monetized” loans would be subject to appropriate feasibility standards administered by the banks and limited only by the goal of maintaining a stable value for the dollar.
Unsound uses of credit, such as the speculative credit that created subprime home mortgages and the global financial meltdown, would be financed from the accumulations of those wealthy Americans and foreigners who could afford the risks.
Democratize Ownership of the Federal Reserve. Provide every citizen a single, lifetime, non-transferable voting share in the nation’s central bank and in one of the 12 regional Federal Reserve banks. This will ensure that the Fed’s board of governors is broadly representative of all groups affected by Fed policy, and that power over future money creation is spread widely among all citizens.
Discourage Monopolies and Monopolistic Ownership. Link all economic reforms to methods that discourage privileged access to monopolistic accumulations of private property ownership of the means of production. Enforce anti-trust laws by providing access to interest-free capital credit to encourage broadly owned new competitors to enhance and sustain market-oriented growth.
Introduce a Market-Driven Wage and Price System. Gradually eliminate rigid, artificially-protected wage and price levels and other restrictions on free trade that afford special privileges to some industries, businesses and workers at the expense of American and foreign customers of US products. Replace subsidies with interest-free credit incentives to farmers who wish to associate voluntarily in cooperatives and in enterprises jointly owned by farmers and workers, including integrated agribusinesses. The income generated by farmer-owned enterprises would supplement farm incomes and reduce the need for subsidies.
Restore Property Rights in Corporate Equity. Restore the original rights of “private property” to all owners of corporate equity, particularly with respect to the right to profits and in the sharing of control over corporate policies. Preserve traditional powers of professional managers held accountable by Justice-Based Management corporate governance structures.
Offer a More Just Social Contract for Workers. A top priority during the next decade would be developing a more just “social contract” for persons employed in the private sector. This would be geared toward establishing maximum ownership incentives. Instead of inflationary “wage system” increases, employees would begin to earn future increases in income through production bonuses, equity accumulations, and profit earnings. These “bottom-line” rewards would be linked to workers’ individual contributions, and to the productivity and success of their work team and the enterprise for which they work.
Encourage More Harmonious Worker-Management Relations. Promote the right of non-management workers to form democratic unions and other voluntary associations. Instead of promoting the traditional “conflict model” of industrial relations, however, “labor” unions would be encouraged to transform themselves into democratic “ownership unions.” These ownership unions could become society’s primary institutions for promoting a free market version of economic justice, while continuing to negotiate and advance workers’ economic interests, including worker ownership rights and Justice-Based Management policies.
Under Capital Homesteading, unions could expand their role in a free market system by educating and expanding their membership to include all citizen-shareholders. Ownership unions would enhance the property rights of all shareholders by enhancing management accountability and transparency, and protecting against unjust executive compensation schemes.
Promote a Life-Enhancing Physical and Cultural Environment. Encourage special ownership incentives for those engaged in research and development, especially in the search for new and sustainable sources of energy, ecological restoration and labor-saving technologies. Provide sufficient low-cost credit and royalty-free licensing for enterprises capable of commercializing life-enhancing technologies developed for the military and space programs. Subsidize the development of new methods of conserving and recycling non-replenishable and limited natural resources that are vital to civilization’s long-term survival, at least until suitable substitutes can be discovered and developed. Promote the teaching at all levels of education of universal principles of personal morality and social morality that are based on the inherent dignity and sovereignty of every human person within all institutions of a just social order, including the State.
Reduce Public Sector Costs. Provide America’s military, policemen and firemen, teachers, and other public-sector workers with a growing and more direct equity stake in the free enterprise system, both as a supplement to their costly pension plans and so that they will better understand and defend the institution of private property. Whenever feasible, transform government-owned enterprises and services into competitive private sector companies, by offering their workers (and customers and other stakeholders in capital-intensive operations like TVA) opportunities to participate in ownership, governance and profits.
Establish Workable Demonstrations of Capital Homesteading at the Community, State, Regional and Global Levels. Launch several Capital Homesteading demonstrations. These would be most effective in areas of high unemployment, such as the for-profit Citizens Land Bank now being proposed in Cleveland, Ohio, Harris Neck, Georgia, and East St. Louis, Illinois. Similar projects could be developed on Native American reservations. A major objective would be to evaluate ownership-broadening Federal Reserve reforms, innovative broadened ownership mechanisms, advanced concepts of worker participation in decision-making, and servant leadership developments like Justice-Based Management.
Encourage State and local governments and other countries to promote widespread capital ownership as a basic “Just Third Way” framework for building a sound market economy.
Study the feasibility of a national and global citizen-owned “Land and Natural Resources Bank” to plan development of Nature’s resources, receive rentals for use of land and natural resources, and distribute citizen dividends among the population. With the leadership of the United States, urge the United Nations and other international agencies to encourage the use of such economic development vehicles in order to bring about “peace through justice” in such conflict-torn countries as Iraq, Afghanistan, Pakistan, the Sudan, Kashmir, the Democratic Republic of Congo, Somalia, Burma, Sri Lanka, etc. Such an approach could provide a model “Abraham Federation” solution for resolving the conflict between the Palestinians and Israelis.
Initiate New Challenges for Multinationals. Provide special encouragement to US-based multinational corporations and global financial institutions to become instruments of peace and a more just world economic order, by broadening access to their ownership base to all citizens of the world community. Encourage businesses to open up future ownership opportunities as they begin harnessing the resources of the sea, the airways and other planets.
Promote a New Global Monetary System. Encourage the convening of a second “Bretton Woods Conference” to consider the implications of the Kelsonian binary economic model on global currency standards, the feasibility of a single global currency, and more just foreign exchange rates. The new policy should seek to reform global financial markets to address the challenge of global poverty and sustainable development, as well as leveling the playing field among nations for global free and open trade.*
For more detail on Capital Homesteading reforms, see Capital Homesteading for Every Citizen: A Just Free Market Solution for Saving Social Security, by Norman G. Kurland, Dawn K. Brohawn and Michael D. Greaney, published by Economic Justice Media, 2004.
* This is the ideal setting for implementing Trade-Coin as the currency vehicle. It allows for: Digital crypto-curency, controlled at a local and individual levels; that is asset backed and a transparent ledger system.
From CESJ- Communications Director, Dawn Brohawn:
Just in time for Independence Day (July 4th), we in CESJ are delighted to share with you an historic advance for the Just Third Way movement!
As reported in the email I am forwarding to you, we received from the Chief of Staff of Missouri State Senator Karla May (D-St. Louis) news that Republican Governor Mike Parson signed into law today a bill containing SB 772/ HB2400, which Senator May had introduced over a year ago and re-introduced this year. It calls for the creation of a commission to facilitate the creation of Citizens Land Development Cooperatives in the State of Missouri.
The Citizens Land Development Cooperative would, on behalf of every citizen in the defined geographical area, acquire title to land and infrastructure now owned by the government, and could later purchase land from private owners in order to develop it.
What makes this entity different from typical Community Land Trusts and similar non-profit community development vehicles, is that it would be for-profit and professionally managed and would make every permanent resident from birth to death a shareholder with an equal voting, dividend payout share. The citizen-owned CLDC could work in urban and rural communities as well as on land owned by Native American nations.
Another unique feature is that the CLDC would have access through local commercial banks to the discount window of its regional Federal Reserve Bank (such as the St. Louis Fed). Rather than relying on taxpayer funding or tax credits for billions of dollars needed for land and infrastructure development, the CLDC would be able to monetize future profits to be generated from leasing, using the existing powers of the regional Federal Reserve Banks.
The CLDC concept was developed by CESJ based on the ideas of lawyer-economist Louis Kelso. Similar legislation was first passed in the State of Illinois by Rep. Wyvetter Younge, who managed to get her bill passed 114-0 in the State House of Representatives, but sadly died before getting it passed in the Illinois Senate.
Thanks to the work of our strategic partner, Gene Gordon, founder and Executive Director of Descendants of American Slaves for Economic and Social Justice ( Descendants of American Slaves for Social and Economic Justice (das4esj.org) ) in St. Louis, we were able to find a champion in Senator May to introduce this piece of legislation in the Missouri Senate. Added as an amendment to HB 2400, this legislation was passed in the legislature earlier this year and awaited signature (or veto) by the Governor.
I am attaching the language that was included in the bill signed by Governor Parson. We intend for this to be replicated in all 50 states and in all 12 Federal Reserve Districts. (As a 501(c)(3) non-profit, CESJ is not allowed to lobby for any specific piece of legislation, but we can educate and disseminate information about it.)
Please feel free to share this with others and to send us your comments, questions, and suggestions.
We are grateful to have you in our network.
Own or be Owned,
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