Real Estate Investor · San Antonio, TX · Member since 2008 · 553 posts · 20 votes
17y
That's is precisely why that entity has served it's purpose.
"We the people" need to stop complaining about it and start a movement for it's replacement.
Now since the banks that we are giving all this bailout money too own the fed and we pay them interest on the money we get from the fed and interest on the money they then turn around and "loan" us. They are charging us interest on our own DAMN $$$
I propose we start a Sovereign Wealth Fund for the USA!
This fund will serve the purpose of controlling interest rates through it's influence over the market.
It will create revenues that we can use to pay for medicare,SS and all the other entitlement programs we have and it can do it with the money we are already paying in taxes.
How about it? Instead of just forking our cash over to uncle spend all my money. We put it into our Sovereign Wealth Fund and make that money work for us!
This is the idea I've been pitching on the Vanguard forums and I'm finding that Norway, France and Saudi Arabia already have such funds. So it's not like it's some far out their unobtainable idea.
Of course we will need to balance our budget fix the broken banking system and turn our economy away from these vapor paper trends and invest in infrastructure, sustainable energy and the like but,