Summer 2017: Federal and State budgets in crisis, drowning in red ink. America’s powerful new economic acceleration plan – to the rescue…

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

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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)

Paul Bodsky, QB Asset Management, July 2012: Global debt load – “staggering.” When creditors fail, banks lose.

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

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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)

The answer to America’s liquidity problems: Grant U.S. citizens the same access to direct liquidity extensions that was provided to Wall Street’s financial sector 2008-2012. The Leviticus 25 Plan

Let’s do a brief review…
 
     During the peak of the housing boom, mortgage tranches were packaged and securitized as Mortgage Backed Securities (MBS)  –  and peddled as income-producing investments by major investment houses.  Participating parties like Goldman Sachs and others also purchased ‘insurance’ to hedge their risk profiles in the event of a housing market ‘swan dive’ – and a potential collapse of the underlying payment streams supporting the value of these MBS investments vehicles.
 
 The ‘insurance’ was purchased (primarily from AIG) in the form of Credit Default Swaps (CDS).  And, thanks to some nifty deregulation orchestrated by Robert Rubin (Treasury Chief under Clinton), AIG was not required to carry any meaningful level of reserves to back the Credit Default Swaps – to pay their counterparties if the Mortgage Backed Securities market… ‘went south.’ 
 
It did just that, and the rest is history.  Housing tanked.  MBS’ tanked.  And AIG had no reserves  with which to pay Goldman and others.  Had normal bankruptcy proceedings prevailed, Goldman Sachs would likely have received just pennies on the dollar in settlement – for placing a huge ‘blind bet’ on an investment that had no reserves backing it up.
 
But – the U.S. Government stepped in, and through an arbitration process, brokered a settlement of 100 cents on the dollar, amounting to a direct cash transfusion of a cool $12.9 trillion – from the U.S. taxpayer – to Goldman Sachs.  
 
And then the real ‘fun’ began.  The investment banking heavyweights, Goldman Sachs and J.P. Morgan, were ‘fast-tracked’ for “federal bank charters.’  Their newly acquired status as commercial banks allowed them to joined in with “Bank of America, Citigroup, J.P. Morgan Chase and other banking titans who could go to the Fed and borrow massive amounts of money” at near-zero percent interest. 
 
“The ability to go to the Fed and borrow big at next to no interest was what saved Goldman, Morgan Stanley and other banks from death in the fall of 2008.  “They had no other way to raise capital at that moment, meaning they were on the brink of insolvency,” says Nomi Prins, a former managing director at Goldman Sachs. “The Fed was the only shot.”
 
“In fact, the Fed became not just a source of emergency borrowing that enabled Goldman and Morgan Stanley to stave off disaster — it became a source of long-term guaranteed income. 
 
Borrowing at zero percent interest, banks like Goldman now had virtually infinite ways to make money. In one of the most common maneuvers, they simply took the money they borrowed from the government at zero percent and lent it back to the government by buying Treasury bills that paid interest of three or four percent. It was basically a license to print money — no different than attaching an ATM to the side of the Federal Reserve.”
 
“You’re borrowing at zero, putting it out there at two or three percent, with hundreds of billions of dollars — man, you can make a lot of money that way,” says the manager of one prominent hedge fund. “It’s free money.” 
(Source:  Wall Street’s Bail out Hustle – Matt Taibbi,  2-17-10)
 
And that is one of the primary justifications for the Leviticus 25 Plan  – granting U.S. citizens the same direct access to the Federal Reserve discount window – that was bestowed upon Goldman Sachs, J.P. Morgan, and certain other banking titans. 
 
After all, it is ‘our money.’  And granting U.S. citizens direct access to liquidity extensions from a Federal Reserve special “U.S. Citizens Credit Facility,”  would clean up liquidity issues at the family level: $75,000 per U.S. citizen at zero percent interest – with a specified  ‘recapture provision.’
 
The Leviticus 25 Plan pays for itself over a 10-15 year period.  It would generate $1.02 trillion budget surpluses each of the first five years.  It would reignite economic growth, providing family income earning jobs, eliminating massive tracts of debt at ground level, and restoring economic liberty in America.
 
America, currently, has no other viable option.

 

“He who will not apply new remedies must expect new evils.” – Sir Francis Bacon

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 (2341) 

     It would “strenghten the base” in America.

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Eyeball deep in the global debt ‘slop hole, Part 2: Corporate debt

Record debt levels are choking corporations in America.

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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

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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)

 

 

Eyeball deep in the global debt ‘slop hole,’ Part 3: Total Non-financial Debt

Debt is surging in the U.S.

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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.

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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)

America’s Socialism ‘Slayer:’ The Leviticus 25 Plan

“The inherent vice of capitalism is the unequal sharing of blessings;  the inherent virtue of socialism is the equal sharing of misery.”  -Winston Churchill

“Socialism means slavery.”  -Lord Acton

“Democracy and socialism have nothing in common, but one word, equality.  But notice the difference: while democracy seeks equality in liberty, socialism seeks equality in restraint and servitude.”  -Alexis de Tocqueville

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Why Politicians Win (And Workers Lose) Under Socialism

Authored by Hans-Hermann Hoppe via The Mises Institute,

ZeroHedge, Apr 20, 2017 – Excerpts:

Socialism leads to the politicization of society. Hardly anything can be worse for the production of wealth.

Socialism, at least its Marxist version, says its goal is complete equality. The Marxists observe that once you allow private property in the means of production, you allow differences. If I own resource A, then you do not own it and our relationship toward resource A becomes different and unequal. By abolishing private property in the means of production with one stroke, say the Marxists, everyone becomes co-owner of everything. This reflects everyone’s equal standing as a human being.

The reality is much different. Declaring everyone a co-owner of everything only nominally solves differences in ownership. It does not solve the real underlying problem:  there remain differences in the power to control what is done with resources.

In capitalism, the person who owns a resource can also control what is done with it. In a socialized economy, this isn’t true because there is no longer any owner. Nonetheless the problem of control remains. Who is going to decide what is to be done with what? Under socialism, there is only one way: people settle their disagreements over the control of property by superimposing one will upon another. As long as there are differences, people will settle them through political means.

If people want to improve their income under socialism they have to move toward a more highly valued position in the hierarchy of caretakers. That takes political talent.

Under such a system, people will have to spend less time and effort developing their productive skills and more time and effort improving their political talents.

As people shift out of their roles as producers and users of resources, we find that their personalities change. They no longer cultivate the ability to anticipate situations of scarcity to take up productive opportunities, to be aware of technological possibilities, to anticipate changes in consumer demand, and to develop strategies of marketing. They no longer have to be able to initiate, to work, and to respond to the needs of others.

Instead, people develop the ability to assemble public support for their own position and opinion through means of persuasion, demagoguery, and intrigue, through promises, bribes, and threats. Different people rise to the top under socialism than under capitalism. The higher on the socialist hierarchy you look, the more you will find people who are too incompetent to do the job they are supposed to do. It is no hindrance in a caretaker politician’s career to be dumb, indolent, inefficient, and uncaring. He only needs superior political skills. This too contributes to the impoverishment of society.

The United States is not fully socialized, but already we see the disastrous effects of a politicized society as our own politicians continue to encroach on the rights of private property owners. All the impoverishing effects of socialism are with us in the U.S.: reduced levels of investment and saving, the misallocation of resources, the over-utilization and vandalization of factors of production, and the inferior quality of products and services. And these are only tastes of life under total socialism.

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America’s plan for freedom and liberty:

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

The Leviticus 25 Plan 2018 (2272)

 

 

WSJ: “Give Medicaid Dollars Directly to Patients” – flawed. There is a much better plan: The U.S. Health Care Freedom Plan

The recent Wall Street Journal editorial by Justin Haskins and Michael Hamilton of the Heartland Institute was a step in the right direction.  At the same time, it was severely compromised by several major flaws…

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Give Medicaid Dollars Directly to Patients – WSJ

Apr 12, 2017

As Republicans take another crack at devising a plan to replace ObamaCare, here’s an idea they should consider: Give each Medicaid patient a health savings account—and put $7,000 in it every year.

Under ObamaCare, Medicaid has become the only option for millions of Americans. But that doesn’t mean much if the doctors in their communities don’t accept new patients through the program—and 30% of physicians don’t.

Full article accessed via Lux Llibertas:

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“Give Medicaid Dollars Directly to Patients” – flaws:

This plan does nothing to offer exemptions from ObamaCare.

This plan does nothing to benefit working families NOT on Medicaid.

It does nothing to untangle and change the complexion of other government health care programs like Medicare, VA, FEHB, TRICARE.

This plan is an ongoing, open-ended cash-based subsidy.

There is a better way.

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.

Benefits:                                                                                 

Lower health care costs – With the elimination of millions of minor insurance claims across the nation over the course of each month, system-wide efficiency would improve, medical costs would drop significantly, and the direct patient-provider relationship would be restored. Medical professionals would not have to answer to HMOs, insurance companies, or government agencies in providing basic day-to-day healthcare access for their patients.

Scoring – if 300 million U.S. citizens were to participate in the plan, the total dollar transfer into family-based Medical Savings Accounts (MSAs) would amount to $7.5 trillion.

The potential cost savings from the $5,000 deductible provision for the approximate 150 million people currently enrolled in Medicare (55 million), Medicaid (72 million), VA (6.16 million), TRICARE (9.5 million), and FEHB (8.2 million) would amount to just  under $3.75 trillion over the first 5 years (or, one-half the $7.5 trillion initial roll out cost).

Summary:

This plan would generate trillions of dollars in cost savings from streamlining, vastly improved efficiency, and reductions in waste and fraud.

This plan would improve quality and ease of access to health care for all participating Americans.

 For patients: It would dramatically lower the cost of health care, while improving quality and access for all who chose to participate.

 For providers:  It would restore the patient-provider relationship and significantly reduce massive cost and time burdens imposed by a centralized system.

 The U.S. Health Care Freedom Plan an integral part of a larger, comprehensive economic plan:

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

The Leviticus 25 Plan 2018 (2267)

U.S. Fed paying $22 billion annually Interest on Excess Reserves (IOER) to world’s largest banks. The big winners: foreign banks.

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.

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   (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)

 

 

WSJ: Health Care Plans: Something Must Be Done

The Wall Street Journal (Letters, March 21, 2017) published a letter from a New Jersey physician which included this excerpt on-target excerpt:

“If costs of delivering world-class health care are driven downward, then government mandates, overregulation and new taxes may not be necessary. Those of us who provide medical and surgical services each day know what it takes to stop the bleeding.  All the politicians need to do is ask.

Lack of price transparency, drug advertising hype, defensive medicine, self-referrals, pre-approved hurdles, insurance billing labyrinths high overhead,  big patient subsidies, discontinuity of care, electronic data keeping, specialty fee disparities, top-down decision-making, emerging hospital cartels, and case work overload are some of the systemic flaws that must be addressed sooner rather than later.”  – Jonathan L. Fox, M.D. Orthopedic Surgery and Sports Medicine, Northfield, N.J.

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And here is how to address those “systemic flaws,” and gain immediate control of skyrocketing premiums, runaway government health care spending, unfriendly and complicated access mechanisms, and the diminishment of freedom:

The U.S. Health Care Freedom Plan offers a powerful new access strategy for patients receiving medical and pharmaceutical services, home medical equipment, and home care services.

It is as simple as renting a movie.

The Plan grants citizens the freedom to pay directly, in person, for their week-to-week health care purchases. It cuts out layers of bureaucracy and middlemen … simplifies access to health care and restores genuine ‘patient-provider’ relationships.

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.

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

 

ObamaCare replacement bill fails. Solution: The U.S. Health Care Freedom Plan.

The ObamaCare replacement plan sailed into some stiff headwinds in the U.S. House on Friday over a number of significant concerns:

1. 14 million Americans would lose insurance by 2018, rising up to 24 million losing coverage by 2026.

2. The new ObamaCare replacement plan remained ‘mandate-heavy.’

3. It was too costly and inefficient, with the already high ObamaCare premiums spiking another 15-20% in 2018-19.

Meet the comprehensive health care plan that overcomes these objections: The U.S. Health Care Freedom Plan.

Number of Americans that will lose coverage: 0

If you like your ObamaCare you can keep your ObamaCare.  All others who wish to be granted an exemption, along with a $25,000 HSA deposit per citizen (see plan for further details).

Mandates: 0

Citizens may choose their providers and insurance plans, and allocate their health care resources in the manner that suite fulfills their needs and desires.

Efficiency: 99%

The U.S. Health Care Freedom Plan eliminates government red tape and enormous amounts of ‘middle-man’ cost and interference.

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

A part of America’s dynamic, comprehensive economic acceleration plan:

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

The Leviticus 25 Plan 2018 (2192)