National Endowment Proposal For Canada

On Sunday, May 15, 2011, I attended a COMER (Committee On Monetary and Economic Reform) meeting hosted by the COMER Chapter in Kingston, Ontario.

One topic that was addressed was a “National Endowment Proposal.” Don Findlay whose website is: http://www.monetaryreform.com brought forth the idea of a one-time, national (cash) endowment payable to every individual at the suggested age of 25 years.

According to Don Findlay’s proposal this national endowment could be considered as a usuryfree line of credit in the amount of $250,000. The idea would be that the recipient would use this national endowment - which would be usuryfree, tax free and non-repayable - to consolidate all debts and pay them off in full and any remaining amount would be available for the individual to spend a s/he determines. As I understand this “National Endowment Proposal” it would be issued and authorized by the Bank of Canada.

Don Findlay has authored an article titled “A Good First Step” and posted it at his website at this url: http://www.monetaryreform.com/MR/firstStep.htm

I invite you to read Don Findlay’s article and then offer your comments/improvements and ideas of how to improve and/or implement such an idea as the “National Endowment Proposal.”

At the end of the article Don writes: "We may need to start a new political party." Obviously, he knows that none of the current duly registered political parties will take up the challenge to make a real difference! Maybe one of the so-called “fringe political parties” would be open to the idea?
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A Good First Step
By Don Findlay

“At the end of 2007, the total value of all shares listed on all global stock exchanges was $64.47 Trillion US. By the end of 2008, that same global share had dropped to just $33.73 Trillion. In one year, $30.74 Trillion of paper wealth vanished into thin air. $30.74 Trillion is more than five times Canada’s total net worth in 2008 ($6.07 Trillion). In just one year, the value of 5 Canadas just disappeared.

We’re in deep trouble here folks. Speculative financial gaming has created a worldwide bubble machine and in 2008 about half of our retirement savings burst into nothing. The global financial system is out of control and governments around the world appear to be in cahoots with the crooks who scammed us.

So if all this paper wealth is just smoke and mirrors, what then is real wealth? If you look at Canada’s National Balance Sheet Accounts, you will see that Canada’s non-financial assets (non-paper wealth) amounted to $6.1 Trillion in 2008.

This figure includes all of our land, buildings, machinery and equipment, inventories and durable consumer goods (goods of significant value like cars, boats, major appliances etc.) So if you are looking to sell our country to someone and wanted to establish a fair asking price, $6.1 Trillion is it. According to Statistics Canada, after paying off all of our financial liabilities with all of our financial assets, $6.1 Trillion is all Canada is worth.

But wait a minute, the two most valuable assets we have aren’t even listed on our National Balance Sheet. Surely our human resources and material resources are our two greatest treasures. All of the assets that are listed are simply a byproduct of bringing human and natural resources together. So why aren’t these resources included in our accounting system? Herein lies the solution to our problems of usury and debt.” (snip) ...

Read this complete article “A Good First Step” at Don Findlay’s website at this url:
http://www.monetaryreform.com/MR/firstStep.htm