In the Fall of 2008, in response to the banking crisis and housing market collapse, the Federal Reserve and U.S. government undertook extraordinary measures to re-liquify Wall Street’s financial sector (banks and insurers), including foreign financial institutions, automakers, and others.

The broad program categories for the trillions of dollars involved included:

The Troubled Asset Relief Program (TARP)                         

Federal Reserve Rescue Efforts (Fed “secret liquidity lifelines”) 

Federal Stimulus Programs 

American International Group (AIG)                                                 

FDIC Bank Takeovers                                                                

Other Financial Initiatives                                                         

Other Housing Initiatives

Source:  CNN’s Bailout Tracker

Note: The Public – Private Investment Program (PPIP) happens to be one of the programs funded under the TARP umbrella.  PIPP is a funneling mechanism for government (tax-payer) money to ‘reach’ Hedge funds –  to ‘encourage’ them to buy some of the non-investment grade (crap) mortgages out there, and get them off the books of the banks.

It was recently reported that the Federal Reserve also offered a special “carry trade” for banks and primary dealers – to generate buying on the front end of the yield curve (2-year and 3-year Treasuries) – using an “overnight repo” everyday at “zero.”  This amounts to another ‘free money’ program for the banks and PDs [Primary Dealers] – courtesy of the U.S. taxpayer.

And these revolving overnight “repos” reportedly do not show up on the Fed Balance sheet.

…………………………………..

The Federal government ‘central planning’ efforts have accomplished very little, despite the trillions of dollars the government has ‘shuttled’ out to the dozens of well-favored domestic and foreign financial oligarchs.

It is now time for American families to be to receive their own round of direct liquidity extensions, via a Citizens Credit Facility, from the Federal Reserve.

The Leviticus 25 Plan is a comprehensive economic acceleration program, delivering direct credit extensions to American families – $75,000 per U.S. citizen.  The debt relief benefits and productivity incentives at the family level would re-ignite economic vitality in America.

Government tax revenues (state, local, and federal) would quickly blossom into an explosive new growth pattern – without raising taxes.

The Leviticus 25 Plan will literally pay for itself over a 10-year window.  It will reverse America’s burgeoning debt load and provide long-term stability for the U.S. Dollar.

The Leviticus 25 Plan 2018 –  $75,000 per U.S. citizen

The Leviticus 25 Plan 2018 (2400)

U.S. citizens deserve nothing less than to be granted the same access to liquidity that Wall Street’s financial sector received during the great financial crisis (2008-2010) – to help restore them to “financial health.”

The Leviticus 25 Plan provides the mechanism for that liquidity access – a $75,000 credit extension for each U.S. citizen who wishes to participate – to help restore U.S. citizens to a state of “financial health.”

One of the ‘recapture’ provisions for participants in the plan is a required agreement to forego receiving all benefits from ‘Income Security’ social programs.  The Earned Income Tax Credit is (EITC) one of those programs.

And it has a long history of being riddled with fraud.

Excerpts from:  American Thinker — Henry Percy,  April 26, 2013:

“The [Earned Income Tax Credit] program has been plagued with “improper payments” for years — decades actually: “The General Accounting Office (GAO) verified the vast scale of the fraud, reporting that ‘…the IRS estimated [it is] between 27 and 32 percent of EITC dollars claimed.'”  And that was during the terror that was the reign of George W. Bush.

Have things gotten better under President Obama?  According to an inspector general’s report, at least, 21% of EITC payments in 2012 were “improper” ($11.6 billion), by far the highest fraud rate in any government entitlement program.

But in 2010 President Obama signed the Improper Payments Elimination Act, which “requires federal agencies to reduce erroneous payments to a rate of less than 10 percent.”  Ten percent fraud is surely a modest goal; what private business would be content with such a rate?  And how’s the IRS doing? In the two years since Obama signed the law, improper EITC payments have increased by 22%.

Oh, but the IRS wants to comply: “The reduction of improper payments is a top priority for the IRS, and we are making progress in this area.” Yes, a “top priority.” So a 22% increase in improper payments is “making progress.” One wonders what the IRS would deem a fail.

The IRS cannot possibly reduce its fraud rate below $11.6 billion, yet a cut of $669 million to the FAA’s budget forces the agency to furlough air traffic controllers in order to create 3 to 4 hour lines at airports. Talk about a rigid, inflexible, sclerotic bureaucracy.”

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The Leviticus 25 Plan sets America on course for ‘cleaning up’ the massive, fraud-riddled misallocation of capital by big-government.

It re-incentivizes work and industriousness by citizens.  And the plan pays for itself over a 10-15 year period.

There is no plan in place right now in America that takes even one positive step in that direction.

The Leviticus 25 Plan 2018 –  $75,000 per U.S. citizen

The Leviticus 25 Plan 2018 (2398)

The national debt, at $19.97 trillion and climbing, does not tell the real story behind America’s true national debt, which is properly identified as the “fiscal gap.”

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The Fiscal Gap Jumped 30% – and Nobody Noticed

Investors Business Daily, March 10, 2017 – Excerpts:

Given the tumultuous news cycle of the past month I’d understand if you haven’t had a chance to read the Treasury Department’s latest 266-page Financial Report of the United States Government (FRUSG)….

The fiscal gap is a key snapshot of the government’s financial health that estimates the tax increases and spending cuts required to maintain the current ratio of national debt to GDP. That’s a more meaningful number than the national debt alone because it also takes into account money coming into the government’s coffers, and the implications on future public policy. If the government were an individual, that would be akin to comparing a person’s credit card bill with their pay stub.

The two chief culprits responsible for the rising fiscal gap are Social Security and Medicare. For years, politicians have promised these politically popular benefits without increasing the taxes necessary to fund them. Not increasing taxes correspondingly has led to massive underfunding.

Social Security and Medicare expenses continue to rise year after year at the same time that less money is flowing into the system, which increases the fiscal gap. Entitlement programs represent the federal government’s largest expense (far exceeding defense spending), but for political expediency their costs are not accounted for in the national debt.

If entitlement obligations were counted, the true national debt figure would actually be around $100 trillion, as opposed to the government’s current $20 trillion figure. The more holistic $100 trillion number breaks down to a $308,000 burden for every American taxpayer. These bills are real, and they’ll come due one day.

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And how are individual states faring on the fiscal front…?

“From Horrific To Catastrophic”: Court Ruling Sends Illinois Into Financial Abyss

“Friday’s ruling by the U.S. District Court takes the state’s finances from horrific to catastrophic,” Comptroller Susana Mendoza, a Democrat, said in an emailed statement after the ruling. “Payments to the state’s pension funds; state payroll including legislator pay; General State Aid to schools and payments to local governments will likely have to be cut.”  ZeroHedge – July 1, 2017

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Chris Christie Announces New Jersey Government Shutdown, Orders State Of Emergency

Illinois, Maine, Connecticut: the end of the old fiscal year and the failure of numerous states to enter the new one with a budget, means that some of America’s most populous states have seen their local governments grind to a halt overnight until some spending agreement is reached. Now we can also add New Jersey to this list.               ZeroHedge – July 1, 2017

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Connecticut Gov. Signs Exec. Order Taking Over Spending After State Fails To Pass Budget

Connecticut’s General Assembly failed to pass a version of the state budget on Friday, forcing Democratic Gov. Daniel P. Malloy to sign an executive order to take control of state spending.  ZeroHedge – June 30, 2017

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Maine To Begin Shutdown After Gov. LePage Says He Won’t Sign Budget Bill

The first U.S. state to shut down heading into the new fiscal year may not be Illinois, not Connecticut, but… Maine.  ZeroHedge – June 30, 2017
……………………………

Add to this growing list of states with growing budget shortfalls: Massachusetts, Kansas…

____________________________

Does our Federal Government have any credible plan to deal with our massive debt overhang?  Answer:  No

Do any of our problem states have any type of credible plan to restore fiscal health?  Answer: No

Is there a credible solution for this gargantuan debt dilemma?  Answer:  Yes.

$1.02 trillion annual budget surpluses yearly 2017-2021: The Leviticus 25 Plan

And massive tax revenue gains and reduced entitlement costs for state governments.

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 2018 –  $75,000 per U.S. citizen

The Leviticus 25 Plan 2018 (2390)

A LOOK BACK – July 2012:

Globally, there is approximately “$100 trillion in bank assets” (bank assets are primarily comprised of their loan base).  And for the U.S. those bank assets (loans)are about “$20 trillion held in the U.S. and abroad.”

The “Base Money” (which is “currency in circulation plus bank reserves held at Central banks”) behind those massive loan levels amounts to a mere “$8.5 to $9 trillion dollars.”  This degree of leverage in the global banking system means that currently, “We are in a baseless monetary system,” according to Brodsky.

More from Brodsky:  “The marketplace forces deleveraging, and there are two ways to deleverage. One is to let credit deteriorate on its own in the marketplace. And the other is to manufacture new currency or bank reserves. Those are the only two ways to deleverage a balance sheet.

What policy makers do not want to see is bank asset deterioration. That would lead to all sorts of bad things. You would see banks fail. You would see bank systems fail. You would see debtors fail and it would just feed on itself in an accelerating fashion. And so monetary policy makers have no choice but to deleverage in the other way, which is to colloquially print money; to manufacture electronic credits and call them bank reserves.

And to the degree that that extends into the private sector where debtors begin to fail en masse, that would increase failures of the bank assets in turn. And it would end the mortgage bond securities market, for example, and the leveraged loan markets, and end the private sector shadow banking system. So it does not work for anybody to have credit deteriorate. The only way to deleverage an economy is as we are saying: to create new base money with which to do it.”

Brodsky Summary:  “What policy makers do not want to see is bank asset deterioration. That would lead to all sorts of bad things. You would see banks fail. You would see bank systems fail. You would see debtors fail and it would just feed on itself in an accelerating fashion. And so monetary policy makers have no choice but to deleverage in the other way, which is to colloquially print money; to manufacture electronic credits and call them bank reserves.

And to the degree that that extends into the private sector where debtors begin to fail en masse, that would increase failures of the bank assets in turn. And it would end the mortgage bond securities market, for example, and the leveraged loan markets, and end the private sector shadow banking system. So it does not work for anybody to have credit deteriorate. The only way to deleverage an economy is as we are saying: to create new base money with which to do it.

The point here is you can either monetize debt or you can monetize (sell) assets. Or you revalue an asset on the balance sheet already of the Treasury or the Fed. And obviously that asset, we think, is gold. And that is the monetary asset that they have always reverted in the past. And that is the one we think that currencies, currently baseless currencies will be devalued against.

And so that we think is the mechanism that is ultimately going to play out whether in the marketplace or through some policy administered devaluation. Currencies are going to be devalued and that is where we sit right now. Timing this is impossible. We think the amount it would have to be devalued by, getting back to your original question, has got to be the amount of or something close to the amount of the gap (tens of US$ trillions) between bank assets and bank reserves. So it is a significant number.”

Full article / podcast from Peak Prosperity:  http://www.peakprosperity.com/podcast/79208/paul-brodsky-central-banks-are-nearing-inflate-or-die-stage?utm_campaign=weekly_newsletter_3&utm_source=newsletter_2012-07-07&utm_medium=email_newsletter&utm_content=node_title_79208

__________________

Meet America’s great debt neutralizer, offering massive debt reduction in both public and private sectors.

The Leviticus 25 Plan 2018 –  $75,000 per U.S. citizen

The Leviticus 25 Plan 2018 (2355)

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Record debt levels are choking corporations in America.

…………………………………………..

Corporate Debt To EBITDA Hits All Time High

“When using the aggregated data, both gross and net corporate debt/EBITDA are at or near record leverage levels, well above prior cycle peaks.” – Morgan Stanley  Apr 21, 2017

__________________________

America is drowning in debt.  We need re-targeted liquidity, and here is the solution:

The Leviticus 25 Plan 2018 –  $75,000 per U.S. citizen

The Leviticus 25 Plan 2018 (2279)

Debt is surging in the U.S.

…………………………………………………..

Hoisington Quarterly Review and Outlook, Q1 2017

By Lacy Hunt and Van Hoisington

Excerpts:

Debt. Total domestic nonfinancial debt, excluding off balance sheet liabilities such as leases and unfunded pension liabilities, surged to a record 254.8% of GDP in 2016, 5.6% greater than in 2009 when Lehman Brothers failed (Chart 2). Total debt, which includes domestic nonfinancial, foreign and bank debt, amounted to 372.5% of GDP in 2016, compared with 251.9% of GDP in 2006, the final year of previous tightening cycle, which, in turn, was greater than in any earlier time from 1870 through 2006.

First, in the initial quarter of 2017, the year-over-year change in the monetary base was -4.8%. This comes after sharp contractions in each of the previous four quarters, the largest such decreases since the end of World War II (Chart 3). Some argue that this unprecedented weakness in the monetary base is not relevant since the depository institutions still hold $2.1 trillion of excess reserves (defined as the difference between total reserves and required reserves). The textbook writers emphasize that excess reserves are the key to money and credit expansion. But, the multiple expansion of bank reserves so diligently explained in the textbooks was written for a regulatory environment that no longer exists, which is the second different condition.

______________________________

America is drowning in debt.

There is one dynamic solution:  Grant U.S. citizens the same access to liquidity that was provided to Wall Street’s financial sector during 2008-2010 – to help them unwind their debt profiles and return to ‘financial stability.’

It is time to unwind debt at ground level – and pump up America’s Monetary Base.

It is time to restore economic liberty for American families and set them on course for long-term ‘financial health.’

The Leviticus 25 Plan 2018 –  $75,000 per U.S. citizen

The Leviticus 25 Plan 2018 (2276)

The Fed is giving ‘free money’ to the world’s largest banks, and the big winners, according to the Wall Street Journal, are foreign banks.  The latest report: $22 billion annually.

………………………………………….

   (FROM THE WALL STREET JOURNAL 12/24/15) 
   By Katy Burne 

Some of the biggest beneficiaries of the Federal Reserve’s recent interest-rate increase will be foreign banks.

Units of foreign banks this year [2015] received nearly half the roughly $6.25 billion in interest the Fed paid banks on the money, called reserves, they park with the Fed, the central bank’s data show. Those institutions control just about 15% of all bank assets in the U.S.

The Fed’s interest payments to banks are likely to roughly double next year because in mid-December it raised the rate it pays on reserves to 0.50% from 0.25%. The amounts could rise even more in coming years if the central bank continues lifting the rate, called the interest on excess reserves rate, or IOER.

Foreign banks receive a disproportionate share of the interest payments because they own an outsize share of total reserves.

[snip]

U.S.-chartered banks, including those owned by foreign banking companies, pay premiums to the Federal Deposit Insurance Corp. — ranging from 0.05% to 0.35% — based on their assets, including reserves but minus other capital measures. But U.S. lenders that don’t take deposits, and firms incorporated overseas whose U.S. operations don’t take deposits, don’t have to pay FDIC fees.

Both foreign and domestic banks can borrow money overnight at low short-term rates and park them at the Fed at a higher rate, earning a profit or “spread.” But for some foreign firms, the spread can be larger because they often don’t have to pay the FDIC fees.

To illustrate: Before the Fed’s rate increase, banks paid about 0.13% to borrow overnight in the federal-funds market and earned 0.25% on their reserves — a difference of 0.12 percentage point. A foreign bank could get a spread of 0.12%. Domestic banks that paid FDIC fees of about 0.07% on average on their insured deposits would be left with a spread of about 0.05%.

After the rate increase, both types of banks could pay about 0.35% to borrow overnight and get 0.50% on their reserves. That is a 0.15% spread for some foreign banks. But domestic banks, after paying the FDIC fees, get a roughly 0.08% spread.

The New York branches of Deutsche Bank AG and Credit Suisse Group AG each had about $40 billion in reserves at the Fed as of June 30, earning about $100 million in interest.

[snip]

Raising the IOER rate to 0.50% from 0.25% will increase the Fed’s interest payments to banks to about $13 billion annually, assuming reserves stay at the same level, said Karen Petrou of Federal Financial Analytics Inc.

The Fed is subsidizing both U.S. and foreign banks, said Joseph Gagnon, a former Fed economist now at the Peterson Institute for International Economics, and the latter have a proportionately larger advantage. “I’m surprised it hasn’t gotten more attention,” Mr. Gagnon said.

[snip]

The Fed started paying interest on reserves in 2008. It plans to use the IOER rate as its primary lever for controlling short-term rates, in part because its postcrisis stimulus policies left markets awash in money, rendering its old tools less effective.

Still, some Fed officials have expressed concern about how it looks to have the central bank making big interest payments to banks.

James Bullard, president of the Federal Reserve Bank of St. Louis, said in an August radio interview that if Congress isn’t comfortable with the size of payments to banks, in particular foreign ones, “They should definitely tell us right now, because . . . we would need to change our exit strategy dramatically if we cannot rely on the interest on excess reserves as being a tool of monetary policy.”

_________________________

So the U.S. Federal Reserve is doling out billions of dollars annually in free money handouts to the world’s largest banks, the very banks whose leveraged speculation strategies precipitated the great financial crisis.  The very banks that foreclosed on millions of American home owners.  The very banks that engaged in blatantly criminal FX and LIBOR rate manipulation, mortgage fraud and predatory lending.

And meanwhile, U.S. citizens are scraping along, neck deep in debt, stalled out with stagnant real median household income growth, lathered up in suffocating social welfarism…?

And Congress is sitting their heads up their ‘rear ends’… and no plan whatsoever to change anything related to the economic mess we are sitting in.

You have got to be kidding me..(!)

It is time for U.S. citizens to be granted the same access to liquidity that the Fed has provided, through various funding facilities, to Wall Street’s financial sector and continues to provide via IOER payments.

The Leviticus 25 Plan 2018 –  $75,000 per U.S. citizen

The Leviticus 25 Plan 2018 (2260)

The GOP’s new Patient Care Act is a big step in the right direction as an ObamaCare replacement strategy, but it is hitting some choppy water...

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“It’s A Train Wreck”: Conservative Groups Savage GOP Healthcare Plan

As discussed earlier, the Obamacare repeal and replace effort, derisively called by some either “Obamacare Lite”, “RyanCare”, “ObamaCare 2.0″,  and even Trumpcare”. is running into major hurdles as prominent conservative groups threaten to derail Trump’s broader economic agenda.  ZeroHedge – Mar 7, 2017

________________________

There is a very simple answer to all of this –

Dear Republican Party: 

Be bold. Think outside the box.

What American families need is a powerful, new replacement strategy for ObamaCare that is citizen-centered, putting people back in charge and allocating resources themselves for their week to week health care needs.

And here it is:

America’s dynamic new health care strategy:

The U.S. Health Care Freedom Plan 2017: America’s clean and affordable alternative to ObamaCare. Ready to launch.

The U.S. Health Care Freedom Plan is the only comprehensive, citizen-centered health care plan in America.  It ‘resets’ the health care industry to present a clean, efficient and responsible system.  Most importantly, this plan restores individual freedom and liberty for all participating Americans.

The Plan:

1. The U.S. Health Care Freedom Plan is available to each and every U.S. citizen – with no coverage mandates. Each U.S. citizen who wishes to participate will be granted a full and complete exemption from the ACA.
2. This plan offers freedom of choice and equal justice for all. Those Americans who might wish to stay with the ACA may stay (‘If you like your ObamaCare, you can keep your ObamaCare’).
3. Each participating U.S. citizen shall receive a credit extension, through a special Federal Reserve Citizens Credit Facility, of $25,000, electronically deposited into a Medical Savings Account (MSA) – for direct allocation toward family health care needs.
4. Private insurance – Families shall be allowed to enroll in high-deductible ($10,000 – $15,000) major medical plans, to include basic, ‘no frills’ medical plans which best suit their individual needs and desires. These streamlined plans would lower premium costs for employees and employers, encouraging employers to cost-share savings with employees through incentive-based employer MSA contributions.
5. Policies would not be automatically loaded with expensive government healthcare mandates.
6. Those with extraordinary medical issues may be included in a high-risk category, with such plans being eligible for a government subsidy (similar to current Medicare Advantage).
7. Federal / state programs – Individuals enrolled in Medicare / Medicaid / VA / TRICARE / FEHB programs would maintain their covered status, with an annual deductible of $5,000 per year per enrolled family member, for a period of five years for those benefits. The dedicated MSA funds would fully fund the offset for the higher ($5,000) deductible feature for that five-year period. MSA funds could also be used to pay Medicare supplement premiums and other potential co-pay obligations.
8. Where health care services paid by patients directly with MSA funds, providers would not be bound by federal / state rules pertaining to Electronic Medical Records (EMRs), and other unnecessary administrative burdens.

Continue:  The U.S. Health Care Freedom Plan 2017: America’s clean and affordable alternative to ObamaCare. Ready to launch.

The Leviticus 25 Plan 2018 –  $75,000 per U.S.

The Leviticus 25 Plan 2018 (2131)

Round 2.  Wall Street Banks and Insurers are overexposed in the arena of risky debt holdings, with hedging strategies that involve meaningful counter-party vulnerabilities.

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U..S Quietly Drops Bombshell: Wall Street Banks Have $2 Trillion European Exposure

Wall Street on Parade / By Pam Martens and Russ Martens: January 3, 2017  
Excerpts:

According to a report quietly released by the U.S. Treasury’s Office of Financial Research less than two weeks before Christmas, another financial implosion on Wall Street can’t be ruled out.

The Office of Financial Research (OFR)….. Its 2016 Financial Stability Report, released on December 13, indicates that Wall Street banks have been allowed by their “regulators” to take on unfathomable risks and that dark corners remain in the U.S. financial system that are impenetrable to even this Federal agency that has been tasked with peering into them.

At a time when international business headlines are filled with reports of a massive banking bailout in Italy and the potential for systemic risks from Germany’s struggling giant, Deutsche Bank, the OFR report delivers this chilling statement:

“U.S. global systemically important banks (G-SIBs) have more than $2 trillion in total exposures to Europe. Roughly half of those exposures are off-balance-sheet…U.S. G-SIBs have sold more than $800 billion notional in credit derivatives referencing entities domiciled in the EU.”

When a Wall Street bank buys a credit derivative, it is buying protection against a default on its debts by the referenced entity like a European bank or European corporation. But when a Wall Street bank sells credit derivative protection, it is on the hook for the losses if the referenced entity defaults. Regulators will not release to the public the specifics on which Wall Street banks are selling protection on which European banks but just the idea that regulators would allow this buildup of systemic risk in banks holding trillions of dollars in insured deposits after the cataclysmic results of similar hubris in 2008 shows just how little has been accomplished in terms of meaningful U.S. financial reform.

Adding to the potential for another epic crash on Wall Street taking down the entire U.S. economy is data within the OFR report showing how interconnected the big Wall Street banks have become to the largest U.S. insurers through derivatives. This has been allowed to happen despite the fact that the giant insurer, AIG, required a government backstop of $182 billion following the 2008 crash because it had sold credit default protection via derivatives to the big Wall Street banks.

The OFR report includes the following data on life insurers:

“At the end of 2015, U.S. life insurers’ derivatives exposure, as reported in statutory filings, totaled $2 trillion in notional value. This $2 trillion does not include derivative contracts held in affiliated reinsurers, non-insurance affiliates, and parent companies that do not have to file statutory statements. Details on these entities’ derivatives positions are not publicly available.”

Just who is backstopping this $2 trillion in risk? The answer is mind-numbing. The counterparties to the life insurers are the same behemoth Wall Street banks who have their own potential nightmare scenario if there are major European bank defaults. The OFR report indicates the following:

“According to statutory data on insurance company legal entities, nine large U.S. and European banks are counterparties to about 60 percent of U.S. life insurers’ $2 trillion in notional derivatives. These data show that despite central clearing, derivatives interconnectedness between the U.S. life insurance industry and banks remains substantial.”

An accompanying chart shows (in order of magnitude) the following Wall Street banks with the greatest interconnectedness via derivatives to U.S. life insurers: Goldman Sachs, Deutsche Bank, Bank of America, Citigroup, Credit Suisse, Morgan Stanley, Barclays, JPMorgan Chase, and Wells Fargo.

It is impossible to overstate the dangers of this daisy chain of interconnectedness. The Wall Street banks that created the greatest financial collapse since the Great Depression in 2008 have now metastasized their failed derivatives model throughout the life insurance industry of the U.S. – raising the very real specter that in the next crash both massive banks and massive life insurers would require a taxpayer bailout.

Five of the largest U.S. banks that show up on the derivatives counterparty list to the U.S. life insurers, also show up on another list. The OFR report notes:

“The Basel Committee methodology measures banks’ complexity in part by looking at data on notional derivatives positions. These data reflect the nominal value of underlying derivatives contracts. They have been volatile since 2012 but remain highly concentrated among the five largest banks. As with OFR findings on insurance (see Section 2.5), OFR analysis suggests higher derivatives exposures for banks are associated with greater systemic risk.”

The five banks referenced above are: JPMorgan Chase, Citigroup, Goldman Sachs, Bank of America and Morgan Stanley.

The OFR report also indicates that regulators still do not have access to adequate data from the biggest banks and insurers to assess the dangers in real time. The report notes:

“Deficiencies in data and data management remain a critical vulnerability. Data needs remain unfilled, particularly in shadow banking markets. Many of the new data are not ready or available for analysis. Despite progress, the probability remains high that data deficiencies will again prevent risk managers and regulators from assessing risks before it is too late.”

__________________________________

Solution: In a world where the global economic system is fragile, and European economic stability is deteriorating at an accelerating rate (Italy, Greece… and now Germany), U.S. Global – Systemically Important Banks (G-SIBs) will be sucked in to the vacuum when the default wave begins to roll in and counter-parties collapse.

And so, now would be the right time to insulate U.S. citizens by granting liquidity access through a Citizens Credit Facility – to eliminate vast tracts of deb at ground level.

Properly targeted liquidity infusions will help protect American families from losing their homes and businesses.  It will help keep main street America ‘humming’ during the next hard bank-driven financial downturn, protect jobs, and avoid major credit market dislocation.

The Leviticus 25 Plan 2018 –  $75,000 per U.S. citizen

The Leviticus 25 Plan 2018 (2069)