vt common assets permanent fund dec. 7, 2004 g. flomenhoft, adjunct faculty uvm mpa program
Post on 21-Dec-2015
218 views
TRANSCRIPT
VT COMMON ASSETS PERMANENT FUND
Dec. 7, 2004
G. Flomenhoft, adjunct facultyUVM MPA program
COMMON ASSETS-NATURE
COMMON ASSETS-SOCIAL
ASSAULT ON THE COMMONS
Common Assets Permanent Fund
Thomas Paine, Agrarian Justice 1797“Men did not make the earth...it is
the value of the improvements only, and not the earth itself, that is individual property...Every proprietor owes to the community a ground rent for the land which he holds.;...from this ground rent...I...propose to create a national fund, out of which there shall be paid to every person...a sum.”
Alaska Model: Alaska Permanent Fund
(Share of the commonwealth)
Alaska Model: Alaska Permanent Fund
Sky-trust
Rent Loop
US Sky-Trust-CAP/TRADE PERMITS
Sky-Trust
Sky-Trust
VT ASSETS-Natural
Gemstones $1,000
Sand and gravel, construction
$21,200,000
Stone:
Crushed $22,800,000
Dimension $29,000,000
Talc, crude Not released
Total $73,000,000
Rent 10% $7,300,000
VT MINERALS-2003
“The meek shall inherit the earth, except for the mineral rights.” -J. Paul Getty
VT FORESTS
FORESTS (cords-2002)
791,035
x $50/
Cord =
$39,551,750
x 10%=
$3,955,175
Public Forests
(2004)
$622,371
x10% =
$62,237
VT WATER-2004
WATER
1C/GAL>100 GALS $87,831,410
VT LAND-2004
VT LAND VALUE $14,928,311,688
RENT 1% $149,283,117
VT ASSETS-Social
VT Trust-US AIRWAVES
VT Trust-US AIRWAVES
VT Trust-US AIRWAVES
“They used to rob trains in the Old West.Now we rob spectrum.”Senator John McCain,Chairman, Senate Commerce Committee
VT Trust-US AIRWAVES
TOTAL US SPECTRUM VALUE $771,000,000,000US population 294,712,028VT population 619,107ratio 0.21%VT Value $1,619,653,939
10% RATE 10%ANNUAL RENTAL VALUE $161,965,394
International Exchange
Goods and Services
$30 Trillion/yr
Buying and selling of paper
$1.5-2 Trillion/day
=$500-700T/year
95% speculation in paper!
VT TRUST-US financial Speculation
Current Trading Projected Tax Rate Revenue(Annual Rates) Volume AfterTax Volume (both sides) Stocks $11 trillion $7.3 trillion 0.5% $36.5 billionGovernment Bonds $41.6 trillion $27.7 trillion 0.1% $27.7 billionCorporate Bonds $22.1 trillion $14.7 trillion 0.1% $14.7 billionFutures Contracts $100 trillion $66.7 trillion 0.02% $13.3 billionCurrency $200 trillion $133.3 trillion 0.1% $33.3 billion
(worldwide) (U.S. share = 25%)Swaps $22 trillion $14.7 trillion 0.02% $2.9 billionOptions Not available NA 0.01% NA
Total US Revenue (.25% RATE) $128.4 billionx .21%
Vermont Revenue $268,891,964
Source: Taxing Financial Speculation: Shifting the Tax Burden From Wages to Wagersby Dean Baker. February 2000. Ctre for Economic & Policy Research
WHO CREATES MONEY? (SEIGNORAGE)
GOVT
(CURRENCY)
$600 BILLION 7%
BANKS
(LOANS)
$8 TRILLION 93%
TOTAL $8.6 TRILLION
100%
FRACTIONAL RESERVE ~3-5%
FED RESERVE BANKPRIVATE BANKING SYSTEM
$1000 DEPOSIT
$1000
(5% OF $20,000
“on reserve”)
LOANS
$20,000
$20,000
ASSETS
INTEREST
PLUS INTEREST!
How the Federal reserve system creates a private
banking monopoly cartel!
VT MONEY CREATION
VT BANKS
(LOANS)
$3,574,450,000
1% RATE $35,744,500
VT INTERNET ACCESS
WEB SERVERS AND EMAIL ACCOUNTS?
???????????????
Created by Public financing through DARPA.
Public deserves a return on their investment:
Share of access, not commerce:
VT Common Assets Permanent Fund
VT Common Assets TOTAL
MINERALS-10% $7,300,000
PUBLIC FORESTS $62,237WATER -1c/gallon) $87,831,410
LAND-1% $149,283,117
SPECTRUM-10% $161,965,394
SPECULATION-.25% $268,891,964
MONEY-1% $35,744,500
INTERNET ? ???????????
TOTAL $711,078,622Vermont pop 2004 621,394Dividend each $1144.32
COMMON ASSET DIVIDENDS