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Rebuilding America - White House Debt Crisis Meeting

It is a common view that fiscal irresponsibility spiraled the United States and global economy into a crisis, that based on the size and scope, makes the Great Depression look like a mild recession.

 
 
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PRLog - Jul. 7, 2011 - Today, an emergency debt crisis meeting is taking place at the White House.

Stephen M. Apatow, Founder of Humanitarian Resource Institute and the United Nations Arts Initiative is requesting inclusion of the discussion points outlined in the overview "Rebuilding America - Solution Oriented Strategic Planning." [1]  As Director of Strategic Planning and Infrastructure Analysis for the Year 2000 Conversion, [2] his work in cooperation with FEMA was critical to remediation efforts in more than 3000 counties in all 50 states, and 192 United Nations member countries through the International Disaster Information Network. [3]

The Economic Emergency

It is a common view that fiscal irresponsibility spiraled the United States and global economy into a crisis, that based on the size and scope, makes the Great Depression look like a mild recession.  Why?  The safety net of reserve banks (established following the Great Depression) failed to protect the financial system, and instead became the liquidity access point for speculative trading and leverage in the financial system.  

Solution Oriented Strategic Planning for Resolution of the Debt Crisis

Key emergency action points:

1.  The repeal of Glass-Steagall in 1999 represents the root cause of this crisis.  The Banking Act of 1933 A.K.A. Glass-Steagall Act [4] was enacted because Wall Street investment banks had access to the reserve bank window, following the 1929 crash, fueling widespread speculative trading and hyperinflation.  The Banking Act of 1933 was enacted to stop these activities and protected the financial system for 70 years.  The 2008 collapse of the financial system is attributed to it's repeal in 1999.  

Note: Reserve bank emergency funds flow directly to investment banks and speculative trading, following 2008 global market crash:

Goldman Sachs, Lehman Brothers, and European banks RBS and UBS were the biggest beneficiaries of very short-term Federal Reserve loans extended at the height of the financial crisis, according to data released on Wednesday. -- Goldman took biggest loan in Fed emergency program: Reuters, 6 July 2011. [5]

Emergency Action Step 1:  Access to low cost reserve bank loans, by Wall Street Investment banks, must be shut down through the same emergency measures outlined in the Banking Act of 1933.  

2.  The concept of legitimate banking was eliminated when Over The Counter (OTC) Derivatives were deregulated through the Commodities Futures Modernization Act of 2000.[6]  Shadow banking or banking transactions executed outside of regulated exchanges, resulted in the greatest uncapitalized fraud in recorded history. [7] The scope is measured in hundred's of $Trillions, that resulted in algorithmic distortions, that cannot be addressed by conventional economic strategies.

Emergency Action Step 2:  Immediate comprehensive regulatory oversight of the entire OTC Derivatives Markets. This step would coincide with an accountancy review and audit of all OTC Derivatives from 1999-2011.  Examination under a financial crimes microscope, would establish the capitol based legitimacy of these instruments.  To the extent that fraud or financial crimes were committed, comes the need for containment and elimination from the system, with debt relief strategies proportional to the associated distortions.  

3.  The fiscal devastation caused by all unregulated activities from 1999-2011 are algorithmic in scope.  Budgets established on the municipal, state and federal levels, that were based on artificially inflated measures, must be readjusted.  This means that the distortions in the economic base, used for fiscal operations, at every level must be recalculated to a legitimate metric.

Emergency Action Step 3:  Municipal, state  to federal budgets must be adjusted to a non-OTC derivatives adjusted valuation.  All distortions that were caused by non-capitalized unregulated OTC Derivatives must be viewed in the light of financial crimes under the umbrella of fraud.  Therefore, contracts negotiated under the conditions of access to legitimate funds, must be reexamined and restructured to legitimate non-OTC derivatives based valuations.  

4.  These unregulated market activities were integrated into interconnected global markets, causing widespread proportional distortions and an insolvency crisis that has devastated the vast majority of 192 United Nations member countries.  In conjunction with this insolvency crisis is the most severe humanitarian emergency, oil shock and food crisis (caused by speculative trading with emergency reserve bank loans) that continues to spiral out of control.  This crisis requires an international emergency economic stabilization plan that applies Emergency Action Steps 1,2,3. [8]

References:

1. Rebuilding America - Solution Oriented Strategic Planning: Humanitarian Resource Institute, 6 July 2011. Url: www.humanitarian.net/idin/ref/752011IDIN.html
2. HRI: Year 2000 Conversion: Global infrastructure Analysis and Contingency Planning.  Url: www.humanitarian.net/contingency.html
3. HRI: International Disaster Information Network. Url: www.humanitarian.net/idin
4. Banking Act of 1933 A.K.A Glass-Steagall Act: Wickpedia. Url: en.wikipedia.org/wiki/Glass%E2%80%93Steagall_Act
5. Goldman took biggest loan in Fed emergency program: Reuters, 6 July 2011. Url: www.reuters.com/article/2011/07/06/us-usa-fed-banks-idUSTRE76556L20110706
6. Commodities Futures Modernization Act of 2000: Wickpedia. Url: en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000
7. Apatow: Jurisdiction Critical for Prosecution of Financial Crimes  - FINCEN - Interpol - IBA: HRI-ICC: HRI:UNArts Humanitarian Intervention Initiative, 22 April 2011. Url: www.unarts.org/H-II/ref/4222011OHCHR.html
8. UN Economic Emergency Contingency Discussions: HRI:UNArts Humanitarian Intervention Initiative, 19 June 2011. Url: www.unarts.org/H-II/ref/6142011IBAHRI.html

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