The State Treasurer decides what to do with Vermont’s money.
All of it.
And, no one tells the State Treasurer what to do.
The incumbent State Treasurer is both a Republican and a Democrat. He has the tacit approval of both parties, revealing the absence of distinction between these two parties regarding fiscal policy (what the State of Vermont does with our money).
Foxes in the Chicken house?
The incumbent State Treasurer is proud that Vermont has a triple A bond rating on Wall Street. The State Treasurer does not handle the investments himself. He hires money managers from Wall Street and directs them, or gives permission on our behalf, to seek the path of highest return, regardless of ethical consequence or environmental implication. The State of Vermont does not have a socially responsible investment policy.
The State of Vermont does not have its own investment policy. The State Treasurer directs his money managers to invest our money to the benefit of mega-corporations.
Collapse of the Priesthood of Money
The U.S. economy operates in a paradigm of infinite growth. Infinite growth cannot be sustained without infinite energy and energy is finite. We have passed the tipping point of peak oil.Two major ongoing unconstitutional wars, requiring an unimaginable amount of energy and financial resource to continue, cannot obtain their actual goal of creating and securing more energy. There is no money for small-scale, productive business, medical care, education, housing, or civilian infrastructure.
There is always money for the necessary war. Why? The Federal Reserve is a consortium of private mega-banks, not a federal or governmental institution. The U.S. Government long ago relinquished its prerogative under the U.S. Constitution to print money and turned it over to the Federal Reserve. The Federal Reserve prints money and loans it to the U.S. Government. The U.S. Government is in debt to the Federal Reserve and this debt is compounded with interest.
Our federal income taxes service the interest on the U.S. government debt to the Federal Reserve. When the income tax collected is insufficient to pay the interest on the debt to the Federal Reserve the U.S. Government is in default and the economy collapses.
This is “the economy” in as few words as possible. Is it any wonder that there are no meaningful jobs to find in the marketplace?
What to do?
VOTE FOR AN ALTERNATIVE TO THE INCUMBENT TREASURER!
Please consider Murray Ngoima – Liberty Union candidate for State Treasurer P.O. Box 39, South Pomfret, VT 05067, firstname.lastname@example.org
Petitition the State Treasurer to move the funds the State of Vermont has invested in Wall Street to community development banks, local community banks and credit unions in Vermont and advocate the establishment of a publicly owned Bank of Vermont to issue low-interest loans and foster in every way possible the health of in-state economy for mutual benefit of all who live here.
Petition the State Treasurer to hire money managers who do not work for Wall Street and who are prescient in their thinking about the way that money and all the resources engaged in its creation are to be invested for the public good.
Murray Ngoima’s Position Statement:
The premise of unlimited economic growth is untenable, evidenced by the ongoing collapse of federal financial systems. We need to shift public focus to the structural causes of this collapse and to redefine the mission of economic policy. We need to value public good rather than personal and corporate profit. We need to recognize that future human well being in Vermont and in the world must be grounded in a paradigm of sharing.
Management of State Funds:
a. The State Treasurer must move the funds the State of Vermont has invested in Wall Street to community development banks, community banks and credit unions in Vermont. These funds include state tax revenue, pension funds and unclaimed property.
b. The State Treasurer must advocate the establishment of a publicly owned Bank of Vermont to issue low-interest loans and foster in every way possible the health of in-state economy for mutual benefit of all who live here.
c. The State Treasurer must insure that unclaimed property can be returned to its rightful owners. Unclaimed property must not be used to cover state budget deficits. The State Treasurer must direct that all the funds from this source, which have been loaned to the State of Vermont, be repaid and due diligence applied to reconnect this property with its owners.
a. Vermont must continue to develop systems of local food production and distribution with a goal of achieving sustainable independence from all products and bi-products of agribusiness. The State Treasurer must advocate the investment of state funds in every stage of this process and the removal of regulations prohibitive to the economic health of small farms and local foodprocessing businesses.
b. Adequate facilities to process meat and milk must be made available inside the state and regulated by the state. The State Treasurer should advocate the investment of state funds towards this goal. I advocate the legalization of the sale and distribution of raw milk, raw dairy products, and farm-slaughtered animals and meat processed on farms in Vermont.
The State of Vermont must shift from its reliance on fossil fuel and centralized electrical generation towards small scale, local and diversified production of energy. Electrical energy must no longer be generated by means that require more energy to produce than the energy that results. Electrical energy must no longer be generated by means that create waste that threatens the well-being of future generations. Vermont Yankee must be closed immediately.
Entrusting the Commons:
The State Treasurer has a particular role to play in insuring that the common wealth and resources of Vermont are shared to provide a materially secure life for all who live here with an understanding that future generations depend upon wise stewardship in the present.
Beating Wall Street (Part 1 here and Part 2 here), by Gary Flomenhoft of UVM, published in the Vermont Commons.
Collapse by Michael Ruppert, or see the movie, Collapse, Trailer here, available on iTunes & Netflix. (Collapse Clip: On Food)