WE THE PEOPLE…
CHAPTER 15
IT CAN NOT HAPPEN TO ME. GUESS WHAT? IT WILL!!!
The following message is for every citizen of every country that has the right to choose their own elected officials.
Come July 1, 2012 the world is in financial agony. A tsunami of easy credit has flooded our shores. The blame game has erupted with all its fury as nations pockmark each other with vicious language to placate their voters.
The real culprit is us – the voter. We voted them into office. We are to blame. There have been and will be many important elections this year and WE THE PEOPLE must take control of our destinies. Elected officials fear us and have been buying us off with various entitlements for decades. If it did not work, then they just, made it larger. So today, as our bankers joyfully watch and estimate their future net worth, we are slowly falling into an abyss with a stench of sulfur.
Considering these elections, one’s party affiliations do not matter, because it is the candidate’s beliefs that are of the utmost importance now.
Which candidate favors reinstating the USURY LAW where the maximum interest rate should be limited to 8%. The Rule of 72 is what bankers live by. All one has to do is to take 72 and divide it by 8 the answer is how many years it will take the bank to double its investment in you. The Usury law was dropped in the mid 1970’s because interest rates were 14% and everyone was maxing out their credit cards (that is borrowing the most they could) and buying a US Government bond at 14%. Then they would pay of the credit card and net 6%. This is called disintermediation and not very healthy long term. So congress was forced to drop the law. But they also failed to reinstate it when the danger expired. It is my suspicion that some members on key committees received special favors.
If you have a 30 year mortgage on your home and you are paying 8% to the bank; the bank will make 3.33 times on helping you on your mortgage by providing the necessary funds. This is where they provide an important function in your community. The higher rate you pay the quicker they double their money. This is why past legislators legalized as max rate – to protect you from unscrupulous bankers. Remember bankers have the moral obligation to protect our deposits for our advantage not theirs. Dividends should come from earnings before bonuses are distributed. Public trust comes before employees looting.
Credit cards are a bastard. They are figured in months not years. This is legalized extortion. Pure and simple.
Enacting or reinstating the USURY LAW will benefit the individual and corporations while reducing the bankers’ bonuses.
A candidate must be willing to petition the Federal Reserve to raise margin rates across the board to 100% for 3 to 6 months worldwide. This will stop all the abuses going on in the market place and make it safe for honest investors. This will halt high frequency trades that are computer driven and benefit a few while harming millions. Hedge funds that use easy credit to skirt regulations will be halted. Best of all derivatives and collateralized debt instruments will go the way of the dinosaur.
Stop Quantitative Easing (QE) dead in its tracks. Go for Quantitative Giving (QG). QE goes to the largest corporation and unions where the money trickles down through the officers and union leaders before long term good is completed.
With QG the Fed must raise fed funds to the 1-2% range so banks restart increasing their savings account rates. This will encourage investors to increase their debt from short term to longer term because they have more confidence in the future.
QG is giving a large stipend to everyUScitizen over the age of 21($50,000 -$100,000) to use as he or she sees fit. Pay down debts etc. with the proviso that at least 10% should be used to purchase a new product. This will getAmericagoing again create jobs and new businesses. The public knows best- not bureaucrats inWashingtonD.C.
