by Carmine Gorga, The Somist Institute
Current upheavals in the Stock Market make me wish I had made an even stronger appeal in the past for the creation of Interdependence Funds, for the systematic cancellation of debt every seven years, and for the general implementation of Concordian monetary policy, encapsulated as it is in an Internet petition defined as Mend the Fed. We would be much less worried these days about the dangerous behavior of the Stock Market. But I do not often flagellate myself. I do what I can, and then I am at peace. So, here is a closer look at the characteristics of interdependence funds especially as they are distinguished from all other investment funds.
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Interdependence Funds are tools of Concordian monetary policy. They help us decide how to use, for the common good, money that is in current circulation. They basically say:
Cash at least 10% of the value of your stocks and bonds; deposit the cash in your local banks; create an Interdependence Fund out of those funds.
A few days ago, Stuart Weeks and I put our heads together to identify some of the distinguishing features of three proposed types of Interdependence Funds and most other investment funds.
Here is what we came up with:
*See graph below.
Some Concluding Comments
Ideas are not implemented because they are “good,” but because good people fight very hard for their implementation.
Concordian monetary policy is no different. If good people gather together to implement its recommendations, ideally before a definite crash of the Stock Market occurs but certainly as soon as possible thereafter, the damage to the real economy will be greatly mitigated. Real or imaginary impediments will certainly be put in its way, but with strenuous goodwill, all obstacles will be overcome.
Concordian monetary policy is a call to a millenarian shift from “money controlling people to people controlling money” that has never occurred before – but will come about for it is All-American.