New Book from Global Research: "The Global Economic Crisis: The Great Depression of the XXI Century"
A new book is available from Global Research with a chapter by Richard C. Cook on “Democratization of the Monetary System.” ORDER HERE
Challenger Disaster
In January 1986 Cook became the first NASA official to testify publicly on the space agency's prior knowledge of flaws in the solid rocket booster O-ring joints that destroyed Challenger and took the lives of its seven astronauts. He told his story in the book Challenger Revealed, published in 2007. Publisher's Weekly wrote of the book: "Easily the most informative and important book on the disaster."
The Cook Plan
What I am calling the 'Cook Plan' is to pay each resident of the U.S. a dividend, by means of vouchers for the necessities of life, in the amount of $1,000 per month per capita starting immediately as our fair share of the resources of the earth and the productivity of the modern industrial economy. The money would then be deposited in a new network of community savings banks to capitalize lending for consumers, small businesses, and family farming.Omna Last
The Lite in the Heart can be experienced when there is enough Love awareness and a strong enough energy field for consciousness to enter deep within the Heart to the place where the Atma lives, shining more brightly than a million Suns.
Hi,
I enjoyed watching the series.
I like the dividend idea but feels it needs some work. Currently the 3 trillion in bank money that is (was) added each year is removed through principal, interest payments and taxes, limiting the inflationary effect of issuing too much currency. $ 12,000/ per citizen / per year would require some sort of similar removal scheme during inflationary times, either through taxes, interest payments or savings vehicles that could automatically be varied.
Warren Mosler has proposed issuing ‘dividends’ on a per capita basis, directly to the states. Politically the conflict over resource allocation between Governors and Senators would likely keep this from happening. In addition he supports an ELR program would work to automatically add ;additional money into the system by giving paid work to the unemployed. Less unemployed, less money, more unemployed, more money.
It isn’t hard to argue that we are already headed in the direction of Greenbacks as the long-term interest rate falls towards zero. All government issued liabilities in Japan pay near 0% already.
Your solution does a better job of getting newly minted money into the ‘right’ hands but it still needs some form of automatic tuning.
Comment by Winslow R. on May 17, 2010