Page 3 of 3 FirstFirst 123
Results 21 to 25 of 25

Thread: The Congressional Order 101 initiative

  1. #21
    Quote Originally Posted by David Merrill View Post
    Go for it. Think of it as already done.
    Congress, when they draft the legislation, may do it... the Order only stipulates the valuation of the individual assets is to be "accounted for at no amount less tha[n] the total cost to provide students the education the educational document evidences" [see: 2(c)]... nothing limits their ability to develop or use other methods of valuation.. this is just a common cost based valuation method... the valuation of intellectual property is not the innovation of this solution, just an element of it.

    I intentionally left the the initiative very mercurial, both for sake of simplicity and because people love to discuss & make things better than they found them!

    I advocate people send an "Addendum" with their Orders if they want to propose how the details should be worked out... I was only concerned with the broad strokes...

  2. #22
    Quote Originally Posted by David Merrill View Post
    China buys up 20% of the National Debt. Then they sell a bunch of bonds but certainly are not happy with a bunch of paper.
    In my youth (25+ years ago), one of my younger brother's friends took a job in China and was getting paid ~$30.00/hour. He was about 19 at the time. He had no college degree and was hired as a teacher, teaching English to younger children (basically, he was getting paid to talk in English to their students). I had considered doing this my self because of the opportunity to travel & the good pay, but was never able to meet with his friend to find out how I could sign up for this. I was already doing much travelling in America in the "On the Road" style of Jack Kerouac -- a type of Dharma Bum -- and we never crossed paths in our travels.

    This is an example of exporting part of this knowledge & education. The Chinese may not be happy with a bunch of paper, but if they can give it (or transfer credits on account), to actual degree holding teachers from the USA, and teachers are happy accepting it and getting to see the world doing what they love... it sounds like a good deal for everyone: Accord & Satisfaction.

    Kindly forgive the lateness of this response, to that post.

    As we reduce the "language free of time" to written word & pictographs, not all responses can be provided, there is just so much to say.

    As I reviewed the thread however, this caught my eye (again), and I feel this response is important to the discussion because of a need for recognition of the fact that these forms of intellectual property are already being imported and exported all the time, ergo, the currency proposed to be created representing it is already seen as valuable because the underlying asset is already seen as valuable... Universally valuable.. like gold & silver.

    Teachers are the new international merchants of the Information Age... and everyone has something to teach! :-D

    While I am not directly related to Cecil John RHODES (he had no children), perhaps my current efforts are in some way related to clearing the FAMILY name. A "family karma," if it could be called such.

    I have occasionally thought it was a real bummer that I did not have a default spot at Oxford waiting for me as a RHODES Scholar... that Trust, as far as I know, didn't bother to include the whole family... perhaps because it is such an old family, and somewhat large, dating back to it's origins found in the myths surrounding the Isle of Rhodes -- Poseidon copulating with nymphs creating the original people of RHODES.

    I am not sure if my work would constitute an entire economic discipline like Keynesian or Marxism, but rather Rhodian economics as a derivative of the Austrian or Neoclassical schools of thought(?) has the potential to make it possible for everyone to have a "RHODES Scholarship" to any schools they would like to study at and are accepted to.

    Fortunately for the world, I am not looking to bring the world under the rule of any Nation or the UN, but rather, under the Rule of We, the People of Earth... second only to God.

  3. #23
    Thank you! That is worth pondering.

    One thing that stands out is my perception that debt and substance cannot occupy the same mental state; while you say they already are. - That both can be backing various currencies in the world. While I must maintain the central banking code prevails. Except for rumors about Isle of Mann etc. That there are domains outside the IMF...

    It looks like you admit though, these assets do not yet show up on the official reports. So I will retain my notions about SDR's for now.

    I find this thread very productive and again, thank you.

  4. #24
    Quote Originally Posted by David Merrill View Post
    Thank you! That is worth pondering.

    One thing that stands out is my perception that debt and substance cannot occupy the same mental state; while you say they already are. - That both can be backing various currencies in the world. While I must maintain the central banking code prevails. Except for rumors about Isle of Mann etc. That there are domains outside the IMF...

    I believe I may be guilty of speaking loosely, kindly forgive that as I clarify it:

    It's not actually debt that is being monetized, it is the debt instruments (aka Securities). These contracts promising some form of future performance are being presumed to have value (even though it is based on a future event). The full faith that these contracts will be honoured by the borrower, gives rise to credit on an account of the borrower and the debt is recorded in a separate account of the borrower - full faith & credit.

    Is the presumption that the borrower is going to be guilty of defaulting in honour of the doctrine of a "presumption of innocence?"

    Full faith & credit.. until proven otherwise.. and collateral remains in the hands of borrowers.. unless they default.

    This use of doubte-entry bookkeeping, in brief: As the bank "monetizes" these debt instruments, they actually create 2 accounts... one for the debt and one for the credit, so, you are absolutely right: The asset and the liability do not occupy the same space on the same account on the ledger. But both are occupying space in the same ledger, in separate accounts.

    It's inaccurate to say the banks are "creating money out of thin air" though. It's as technically erroneous as my loose statements that debt is the asset backing portions of the money supply. The banks are not just creating credit entries on the account without these contracts in hand. They are not allowed to and I suppose I should find the laws that make this a crime -- if I cared to prove this kind of ledger fraud is unlawful.

    Anyway.. I am not here to debate the fine points of the Federal Reserve System or the UCC, it's merits or lack of them... it is undeniable that using these debt instruments as the assets (debt based assets) backing portions of the money supply has problems, and the only reason I mention this, is to illustrate that there was not a complete break from the principles of natural laws of economy that requires something of value to be represented by the mediums of exchange.

    The US Treasury Balance Sheet, in the Assets section, shows the assets backing BOTH the money of account and those $300 million US Notes/Coins in circulation (money of exchange) -- Both back Dollars (can we presume this is true of all UN Members?):

    In the main Assets section, there are both debt-free (or non-debt based) assets and debt based assets being reflected.

    For example, SDRs are debt based assets -- Note 2. - paragraph 5 of the Cash and Other Monetary Assets section -- "The SDR is an international reserve asset created by the IMF to supplement the existing reserve assets of its members. These interest-bearing assets can be obtained by IMF allocations, transactions with IMF member countries, or in the form of interest earnings on SDR holdings and reserve positions in the IMF. U.S. SDR holdings are an interest-bearing asset of Treasury’s Exchange Stabilization Fund (ESF). The total amount of SDR holdings of the United States was the equivalent of $50.1 billion and $50.3 billion as of September 30, 2016, and 2015, respectively."

    In that same section, gold and silver are debt free assets (or non-debt based) assets.

    Quote Originally Posted by David Merrill View Post
    It looks like you admit though, these assets do not yet show up on the official reports.
    The assets, being proposed for monetization in the initiative, certainly are not being accounted for on the US Treasury Balance Sheet.

    Until the majority of the People command their public servants via the Order to start accounting for them (like we are doing with gold & silver assets), OR the Congress acts on it's previously delegated powers and treats the Order like a petition for a redress (which doesn't require a Majority), these assets won't be accounted for.

    If the majority of people want to take the position the money supply doesn't represent assets or that the particular asset being proposed to be used to back the creation of lawful public money is worthless, then maybe I am actually wrong about knowledge & education having any value at all... but since they pay for it all the time.. it's hard to ignore that everyone has already recognized these measured amount of knowledge & education.

    I dare say, even though people have not actually signed the Order physically by putting pen to paper, they have signed it in thought, word and deed. But I don't like operating on presumptions of social contract. I want people to actually put pen to paper... but I will press the issue because of the indenture of the next 460 years of people being a form of slavery. The doctrine of necessity justifying this Treason is nullified, in fact.

    I drafted the Order in recognition of what is already held to be relatively true by the Majority.. people have just never combined these relative truths in the way they are combined in the Order:

    Valuable assets back the money supply.
    Measured amounts of knowledge & education are valuable assets.
    These assets are not being used to back the money supply yet.
    The US Treasury creates money.
    Congress writes law.
    People can unite as a Majority and write law directly, or direct their public servants to do so.
    The works of authors and inventors are valuable assets, and this one is of universal value to the world.
    etc.. etc..

  5. #25
    I make the presumption that the next 460 years of people are not willing to pay the debts of those acting on that presumption:

    It Could Take 460 Years to Eliminate the National Debt, Warns Senator

    To be born into, and obligated either directly or constructively to pay other people's debt, is a form of slavery long recognized by the population of this planet.

    Who has the fiduciary duty to abolish this form of slavery?

    Since the Order will eliminate the public debt with out default, can the -- roughly 2.5 billion -- people that are going to be born be presumed to have signed the Order?

    Can I act as the fiduciary in this instance and sign on their behalf?

    If not me, then who?

    Who is failing in their fiduciary duty?

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts