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.

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“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

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The present debt of sovereign nations is deterring 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.


We cannot adequately control the pandemic using past outmoded economic practices.


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

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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 methods. Austerity programs are short-term "feel-good" fixes, harm people - and the economy - and cannot make a dent in the debt. Raising taxes hurts people and businesses and is not viable.  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 failure to understand the situation.

  

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, but bridled by innovative financial instruments and methodologies.  We must not only think about this, we must do something; or, indeed, we are a backward species.  

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. It 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.  No one is immune. All are affected.  


This causes governments to hesitate spending when spending is absolutely imperative.  The world is at war with the pandemic. To win, we must finance 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 until the vaccines are ready   


The U.S. continues to set new daily record highs of coronavirus cases. 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.  


A doctor on President-elect 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 squabble about $600 per week, Congress takes a break and lets the stimulus package expire, evictions loom, states and municipalities are contemplating layoffs in essential services.  And, yet, many believe the whole thing is a hoax.  It is no hoax. We have Americans dying every day, 7 days a week. 


People are dying around the world.   


We need a plan to fight the pandemic and we need to be free to fund such a plan fully.  


We need a global plan.  We need to reboot the world economy and fund a worldwide lock-down wherever needed.

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 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 with the debt realignment event date being accomplished at the beginning of 2021. 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 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 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.
Have credit available for massive building projects such as infrastructure.

Restore solvency to Social Security in the U.S.  

Realign and eliminate student debt.
Assist depressed countries.
Put 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.

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

Allow us time to solve some of Earth's problems, 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.

  •  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 of an important decision. May God Grant us the wisdom to use the numbers wisely by realigning them and rebooting the world economy.  

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