PROJECT CAMELOT: AN INTERVIEW WITH CATHERINE AUSTIN FITTS (Demo)

Hi Catherine, I hope you find the time to read this information.

0% Percent Act of Congress

Please take the time to read the entire post. (Thank You)

This “bail-out” requires no funding from the government.

This “bail-out” would also solve a major portion of the 1,500 Trillion dollars of derivatives that are based upon the underlying assets within the USA.

This “bail-out” would strengthen the bond market based in cities, counties and states within the USA.

Tax revenues would go up because of consumption taxes, and because there would be no ability to write off the interest from home loans, as all the payments would be principal reductions.

Consumer confidence would go higher.

The overall safety and security of ‘We the People’ of the USA would be greatly improved.

This 0% Act of Congress is a very simple solution, with very powerful and positive upside results for ‘We the People’ of the USA.

Thanks for taking the time to read it.

Zero Percent (0%) Solution

The Federal Reserve has since the beginning (4th Quarter 2007) of the current financial crisis lent trillions of dollars to their financial cohorts at zero percent to ½ percent interest rates.

The Federal Reserve has purchased and swapped financial paper assets increasing their balance sheet by trillions of dollars. With QE-Unlimited in place, the actual amount is in the 10’s of Trillions, perhaps the 100’s of Trillions.

The “bail-outs” have only helped the financial giants and Wall Street mega corporations.

Main Street USA is being lied to and systematically destroyed.

Proposed Solution

By an Act of Congress, (0% Act of Congress) declare that all loans within the United States of America be reset at zero percent (0%) including student loans, auto loans, credit card loans, HELOC loans, home loans, commercial loans.

Student loans would be reset at 0% for 20 years.
($4.17 per month per $1,000.00 of debt.)
Example: $25,000.00 of debt would have a monthly payment of $105.00 per month.

Auto loans would be reset at 0% for 7 years.
($11.91 per month per $1,000.00 of debt.)
Example: $20,000.00 of debt would have a monthly payment of $229.00 per month.

Credit Card loans would be reset at 0% for 15 years.
($5.56 per month per $1,000.00 of debt.)
Example: $25,000.00 of debt would have a monthly payment of $139.00 per month.

HELOC loans would be reset at 0% for 30 years.
($2.78 per month per $1,000.00 of debt.)
Example: $100,000.00 debt would have a monthly payment of $278.00 per month.

Home loans would be reset at 0% for 30 years.
($2.78 per month per $1,000.00 of debt.)
Example: $500,000.00 debt would have a monthly payment of $1,390.00 per month.

Commercial loans would be reset at 0% for 30 years.
($2.78 per month per $1,000.00 of debt.)
Example: $1,000,000.00 debt would have a monthly payment of $2,780.00 per month.

Equipment leases will be treated the same as commercial loans.

I.R.S. debts would be reset at 0% for 30 years.
($2.78 per month per $1,000.00 of debt.)
Example: $50,000.00 debt would have a monthly payment of $139.00 per month.

Note: No matter the age of the loan being reset, no matter the condition of the loan being reset. The reset time lines will be reset at the same time the interest rate is reset to 0%

This would be a one-time reset that would take place within a 30-day period. For example; the Act of Congress passes into law on July 1st 2015, and all loans would be reset during the month of July 2015.

Our country has a history of granting 0% loans to Vietnam immigrants, and special enterprise zones.

It is a proven fact that these 0% loans have a powerful influence on the success of the recipients.

We have bailed out Wall Street and International Banks, and Countries via the Federal Reserve. It is time to bail-out Main Street. (Remember; this will cost the government nothing, and bring massive new tax revenues in at the local, state, county, and federal levels. )

Very Important: Please note that this reset of loans to 0% does not reduce the principal amounts due. This does not forgive any balance owed. In fact by resetting all the loans to 0%, most all derivatives involving the underlying debts and assets would become worthless and simply be wiped out. Derivatives are basically bets that the underlying loans will default. Remove the primary reason loans default; that is the high cost of interest to maintain the loans, and the underlying securities would be worth 100% of their principal balance. This is far better than having to write down the securities’ value to just cents on the dollar.

This would immediately stop most if not all foreclosures.

This would immediately stop most if not all bankruptcies.

This would immediately enhance the value and payment ability upon most if not all bond issues, as the Municipal bond payments are made by the collection of tax receipts primarily from city, county and state tax revenues, and the Corporate bonds payments are made by corporate income primarily from retail sales.

The instant underlying safety of the United States of America’s citizenry, municipalities, and even the States themselves would be incredible. This could even be argued as necessary as a National Security issue.

We live in California, and having this 0% Act of Congress passed, California’s polarized economy would be pulled out of this 1% vs. 99% dilemma. (California should create a State Owned Bank based upon the State Owned Bank of North Dakota.)

All 50 States would gain in the same regard.
(All 50 States should create a State Owned Bank based upon the State Owned Bank of North Dakota.)

Tax revenues would increase instantly.

Unemployment would decrease instantly.

After the 0% Act of Congress is passed and implemented, all newly originated loans going forward in time would be at whatever the market rates are. This is a “HOT STOVE MOMENT” in time, this means that when a person places their hand upon a hot stove and is burned, that person will probably not ever do that again. The people will have very little want to go into new debts in the future, but will be able to save money to purchase meaningful and necessary items without going into debt.

Our country would be paying off all of our personal and business debts in a timely manner. Month by month, year by year, our country’s households and businesses would become stronger financially. Our political debate could then focus upon the important issue of the Federal Reserve System, and why our country uses Federal Reserve Notes issued by the Federal Reserve out of thin air, and then lent to our country at interest, thus creating the national debt in the first place.

This 0% Act of Congress could be written within just a few pages, and would be able to be read and understood by our Congress members, and our citizenry.

To review; This bail out would cost the government nothing, no funding appropriations needed, just simply reset all loans according to their type to determine the amount of years that would be reset, and reset the interest rate to 0% upon all the loans.

Remember; this will cost the government nothing, and bring massive new tax revenues in at the local, state, county, and federal levels.

Very Important; The United States Dollar is not collapsing; the Federal Reserve Note fiat currency is collapsing.

The reinstatement of the real United States Dollar issued without interest, as a credit dollar uttered into existence without debt by our Federal government needs to instantly replace the fraudulent Federal Reserve System’s “Federal Reserve Note”.

Begin your study; Google “The Money Masters” documentary produced by Bill Still, an award winning film maker. In addition, his recently released film; Jekyll Island, The Truth Behind The Federal Reserve.

Pass this simple solution on to your friends and families, and to your congressional / senate representatives.
There you have it; a simple, very balanced solution to the so-called complicated matter.