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/ Contact -- Martin R. Carbone / 5123 Don Rodolfo Drive / Carlsbad, CA 92010 / 760-603-1910 / martycarbone@yahoo.com
Supplemental material to the "silver bullet" plan
This plan is necessary for the following reasons A to D
A) The present system is in violation of the Constitution because it does not provide for Congress having the power to "coin money and regulate the value thereof" as specified at Article 1 / Section 8.
B) The present regulation of the money supply by the Federal Reserve System, a privately owned entity, costs the Federal Government and the taxpayers about 400 billion dollars interest every year. Saving that money will be an enormous stimulus to the economy.
C) The present system almost always results in an unbalanced federal budget.
D) The existing Federal Reserve System has no checks and balances. The Fed reports to Congress, but Congress does not have any practical power to efficiently control the Federal Reserve System.
PRIMARY GOALS OF THE PLAN:
A) The proposed plan will balance the Federal Budget in all years after its implementation.
B) The proposed plan will provide for the checks and balances implied by the Constitution by putting all monetary functions in the hands of Congress or the Executive Branch of government, both of which are automatically subject to the checks and balances inherent in the Constitution.
C) The plan will prevent Investment bankers from getting their hands on regular home mortgages and turning them into strange financial instruments that nobody understands and which may yet destroy our economic system.
D) Our government will never borrow money again -- thus saving $400 Billion / year in interest payments at a minimum.
E) Local governments will open State-chartered community banks that will focus on 4% home mortgages. Those mortgages will generate a gross profit (don't shrink from that word) of 40% on the invested capital and will, by efficient operation of the banks, bring more than 30% profit to the bottom line that can be used in programs that will benefit all the people.
Use the "contact" link above to send us your ideas. If you agree with any or all of the above plan -- let us know. If you agree with everything, allow us to list you as an endorser. If you have a plan of your own -- send it to us -- perhaps we can publicize it.