Central Banks opened up the liquidity floodgates during the 2007-2010 financial crisis, rescuing scores of major financial institutions and their ‘ultra-wealthy’ executives in the process.
Their efforts unfroze markets, filled massive ‘capital holes’ in the banking system, and provided short-term stability.
Their efforts did nothing, however, to provide longer-term health and stability to global economic systems. Global debt is snowballing. Debt service obligations are suffocating economic growth.
It is time for a change…
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‘Unelected Power’ Review: Monetary Mavericks – WSJ
The lesson of the past decade is that this promise is a lie.
The developed world’s four major central banks—the Fed, the Banks of England and Japan, and the European Central Bank—have executed a series of extraordinary policy maneuvers to rescue us from the 2008 financial panic, with debatable success. These include ultralow or negative interest rates; the purchase of sovereign debt in mind-boggling quantities; forays into commercial debt, equity and real-estate markets; and ventures into mortgages, small-business loans and other similar instruments.
Central banks have also taken on vast new supervisory powers over the financial system. Each of these measures has had profound effects on our economies: debtors win, savers lose; large, bond-issuing companies get credit, smaller firms don’t; owners of assets accumulate wealth, wage earners see their salaries endangered by inflation. Such distributional choices are normally left to elected leaders, but no one elects a central bank.
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The Central Banks ‘did what they thought they had to do’... to provide liquidity to rescue the global financial system – and restore global financial institutions to a state of “financial health.”
In the process Central Bank lifelines bailed out Wall Street Financial institutions that had engaged in reckless leveraged speculation. In other cases, certain institutions were engaging in rate fixing in the LIBOR and Foreign Exchange (FX) markets, at the same time they were being ‘transfused’ by the Central Banks. Various institutions were engaged in fraudulent mortgage application filings.
It is now time for the Fed to grant U.S. citizens – who did not engage in reckless leveraged speculation, or rate fixing in the LIBOR and Foreign Exchange (FX) markets, or fraudulent mortgage application filings – the same access to liquidity that was granted to Bank of America, Citigroup, Goldman Sachs, JP Morgan, State Street, Morgan Stanley, Wells Fargo, Lehman, Merrill Lynch, and financial behemoths like Deutsche Bank, UBS, Barclays, Royal Bank of Scotland… and many others.
Now is the time. The Leviticus 25 Plan – $75,000 per U.S. citizen.
The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens. It is a comprehensive plan with long-term economic and social benefits for citizens and government.
The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.
The Leviticus 25 Plan – An Economic Acceleration Plan for America
Leviticus 25 Plan 2018 (2844 downloads)