the debt realignment initiative

the debt realignment initiativethe debt realignment initiativethe debt realignment initiativethe debt realignment initiative

the debt realignment initiative

the debt realignment initiativethe debt realignment initiativethe debt realignment initiative

Together we can.

Together we can.Together we can.Together we can.

A CALL for a Global Summit to realign world debt

“THE SIGNIFICANT PROBLEMS WE FACE CANNOT BE SOLVED AT THE SAME LEVEL OF THINKING WE WERE AT WHEN WE CREATED THEM." ALBERT EINSTEIN

“THE SIGNIFICANT PROBLEMS WE FACE CANNOT BE SOLVED AT THE SAME LEVEL OF THINKING WE WERE AT WHEN WE CREATED THEM." ALBERT EINSTEIN

“THE SIGNIFICANT PROBLEMS WE FACE CANNOT BE SOLVED AT THE SAME LEVEL OF THINKING WE WERE AT WHEN WE CREATED THEM." ALBERT EINSTEIN

The present debt of sovereign nations deters governments from fully funding the battle against the pandemic.

“THE SIGNIFICANT PROBLEMS WE FACE CANNOT BE SOLVED AT THE SAME LEVEL OF THINKING WE WERE AT WHEN WE CREATED THEM." ALBERT EINSTEIN

“THE SIGNIFICANT PROBLEMS WE FACE CANNOT BE SOLVED AT THE SAME LEVEL OF THINKING WE WERE AT WHEN WE CREATED THEM." ALBERT EINSTEIN

We cannot open up the economies of the world until we  control the pandemic.


Cooperation among the nations is imperative for success.  The United States of America is well suited to handle the pandemic leadership.

The enormity of the debt must be understood in light of reality and the present global pandemic.

“THE SIGNIFICANT PROBLEMS WE FACE CANNOT BE SOLVED AT THE SAME LEVEL OF THINKING WE WERE AT WHEN WE CREATED THEM." ALBERT EINSTEIN

The enormity of the debt must be understood in light of reality and the present global pandemic.

The global debt cannot be handled with traditional financial methods. The debt is just too large.  We must understand the debt, America's and the world's.

  

"Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it's worth it in the end because once you get there, you can move mountains."                                             Steve Jobs

The Lack of situational Awareness

  

Each day – barring significant upheavals, natural catastrophes, pestilence, or war – the number of people on Earth grows slightly, and the natural resources are slightly depleted. Populations grow. Natural resources shrink. We use numbers as symbols to express these and as a means to understand reality and to monitor changes and exchanges. Each country has its own economy reflective of its peoples, its culture, its physical assets, and its relationship with other countries. Combined we have the world economy, hurting at the moment. Hurting because of the pandemic, but also because of the enormous global debt that has resulted from the lives of creative, destructive, and industrious humans blessed by innovative financial instruments, but bridled by nonviable methodologies.  

UNERSTANDING THE NUMBERS, WHAT THEY ARE, WHAT THEY MEAN.

The World Debt is accepted to be above 250 trillion dollars.  And growing.  U.S. debt is over 27 trillion dollars.  But what does this mean?   

To put it into perspective, let us consider a million, billion, and trillion:


A million seconds equals 11.5 days. 

A billion seconds equals 32 years. 

A trillion seconds equals 32,000 years, 31,688 years to be exact.  

The deficits and the gross debt scares policy makers. they should.

It is estimated that if things do not change the United States of America will only be able to pay the interest on its debt in 8 years. This is unacceptable and unsustainable.  If the world's richest nation is in such dire financial straits, what of the rest of the world?  Many other countries are in similar serious fiscal peril.  None are immune. All are affected.  In America the Republicans worry about funding saying the budget must be balanced.  It is a futile attempt, an ignorant attempt.  But the Republicans are not alone. The Republicans and Democrats are like two NFL teams.  They play the same game.  Ignorance is a wet blanket on progress.  


Ignorance causes governments to hesitate spending when spending is absolutely imperative.  The world is at war with the pandemic. To win, we must finance people staying at home, businesses in hibernation, and governments at the national, state, and local levels.  We must be free to have a paid full lock-down NOW that vaccines are ready with $2,000 per month to all now eligible for payments.  With the advent of vaccinations this should take 3-6 months, with constant appraisal - if we vaccinate the whole world, which for our own safety we must.  This is costly.  We must fully fund it. Global debt realignment allows this and more. 


Countries grapple with the thoughts of lock-downs or partial lock-downs. But the specter of the debt disables everyone from taking the needed action.  We must be bold and think big as the new Secretary of the Treasury Yellin has stated.  This can be a slam dunk, if the present administration will think big and bold.  


A doctor on President Joe Biden’s coronavirus task force floated the idea of shutting down businesses in a lockdown that could last four to six weeks to control the spread of the pandemic. 


Dr. Michael Osterholm, who currently serves as director of the Center of Infectious Disease Research and Policy at the University of Minnesota, said:


“We could pay for a package right now to cover all of the lost wages for individual workers, for losses to small companies, to medium-sized companies or city, state, county governments. We could do all of that.” 


Of course we can:   


Fed Chairman Jerome Powell has said:


"As a central bank, we have the ability to create money digitally. And we do that by buying Treasury Bills or bonds for other government guaranteed securities. And that actually increases the money supply.  We also print actual currency and we distribute that through the Federal Reserve banks." 


So, even though we can do it, we don’t.  We squabbled about $600 per week, Congress takes a break and lets the stimulus package expire, evictions loom, states and municipalities contemplate layoffs in essential services.     


We need a global plan to fight the pandemic and we need to be free to fund such a plan fully.  We need to reboot the world economy and fund a worldwide lock-down wherever needed.  Pay people to stay home.  Pay them well.  

The Process of Debt Realignment

  • It is proposed that a worldwide economic summit be called among the nations of the world as soon as possible given the urgency of the pandemic and diverse economic challenges. At this summit, with agreement among all national chief executives, legislatures, and central banks, to wit, it shall be ordered by all governments that instituted in all ledgers, all balance sheets, all accounts in the servers and computers around the world, and on the books of all central banks and lending institutions worldwide all debt, debits, be transferred as an asset, as a credit, to all creditor's accounts in their respective banks, either in real terms, or as a ratio to be determined, to get all on an even playing field and end the debt impasse to progress and prosperity while allowing full funding to fight the pandemic. Currencies can also be negotiated and adjusted at this point.  The specifics shall be determined by the various experts of different countries, the executive branches, and the central banks at the summit.  With a new Joe Biden administration in the White House this is the perfect time to institute a fully cooperative effort.
  • With modern technology this can be accomplished in a relatively short-time with the realization that technological means allows this to be, in fact, also, relatively an easy action.  It is vastly superior to what is presently being done or have been proposed. Debt forgiveness helps the debtor but harms the creditor. Trillion dollar coins are akin to Dutch Tulips. Mere debt relief is a loss for the lending institution, and only results in more lending. The ancient practice of the year of the Jubilee is not practical or moral in today's world. And while Bono is to be applauded for his efforts with debt forgiveness, there is a more progressive way, progressive in the sense of making progress. 
  • The goal is zero global debt to free the world's peoples and resources to fight the pandemic, sustain, and rebuild. The summit should occur as soon as possible.  The sooner the better. It takes vision. It takes courage. It takes effort. It takes leadership. There must be a global plan that will work, not worn-out old piecemeal ideas of austerity, taxation, and more borrowing. 
  • The Fed, the World Bank, and the International Monetary Fund are urged to share this idea - and do it. 

The Results


Allow governments to fully engage in fighting the pandemic.

Allow people to remain home and get paid until the pandemic is controlled.

Provide funds for businesses, large and small.

Provide financial assistance to every government, every state, every municipality, and every locality.
Fund all essential projects. FUND ALL ESSENTIAL PROJECTS.
Provide increased liquidity to every market.
Strengthen all countries.

Fund infrastructure.
Restore solvency to Social Security in the U.S.

Fix Health Care in America.

Realign/eliminate student debt.
Assist depressed countries.
Put hundreds of millions of people to work.
Fund research and development in renewable energy technologies.
Fund research and development in worldwide climate change.
Build schools.

Build hospitals.

Fund health care research.

Rebuild the cities.
Enable financial markets to fully function.
Strengthen the world and individual economies.

Allow us time to solve some of Earth's problems, like climate, first that of the pandemic.
Set up emergency provisions funds for subsequent problems.

End the curse of global debt on peoples and countries, giving people a fresh start, particularly useful after the pandemic.

Rethink the whole.

  •  Albert Einstein referred to numbers as they described the architecture of the Universe as "the workings of God's Mind." We can use numbers for good or not. We can use numbers or we can allow the numbers to use us. The world stands at the crossroads. May God Grant us the wisdom to use the numbers wisely by realigning them and rebooting the world economy.  

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