but a few governments are already doing the right thing; they are testing it, first.
Basic Income; High Expectations and a Boost for the Music Industry
Natalia Demetriou
194

There has been sufficient testing to demonstrate that getting money is a positive thing

Where you attempt to make a distinction between UBI and welfare ultimately fails, where the method of providing UBI is through single state welfare distribution schemes… government distributions

So note that this method of providing UBI also then relies on “red tape, corruption and the funding of expensive top-down programs,” simply because all these things are inherent in government programs

Well researched.. but note that all of these sources restrict consideration to single state welfare distribution schemes, ignoring the clear requirement for a globally equitable structure

“Free money”… this too ties the entire discussion to welfare.. free is unearned.. welfare

The Universal part is silly if the thing isn’t even global.. deceptive.. particularly when we consider the fact that the problem is global.. (the noted immigration concerns, off shoring jobs…)

The global economic system is based on debt, which is backed by the “full faith and credit” of the countries that functionally borrowed the money we have into existence… and if we each get paid an equal share of the interest paid on money that was created using our future cooperation as collateral, this is not free money, it is our reasonable income produced from our personal property

A structure to provide a basic income globally through economic enfranchisement is established with a rule for international banking..

..that sovereign debt shall be backed with Shares of a standardized global fiat credit, that may be claimed by each adult human on the planet, for deposit in trust with their local deposit bank, exclusively for the purchase of sovereign debt, as part of an actual social contract

So the rule simply allows each to accept an actual social contract, agreeing to cooperate with society, in exchange for the services and protections provided by government, and an equal Share of the fiat credit that backs our global currencies…

..each then owns a personal trust account that contains a right to loan money into existence to purchase secure sovereign debt, administered by local fiduciaries and actuaries, earning each an equal share of the interest paid on global sovereign debt as a basic income

This then also addresses the most obvious problem ignored; that there simply isn’t enough money…

Note that for each to receive a sustainable income of $1,000/month, there will need to exist a corresponding $1,000,000 of capital returning a sustainable 1.25%.. and that is eight to twenty times more than what currently exists (depending on the estimate)

By assigning that value to each Share of fiat credit though, we create the potential for sufficient money to exist…

..and by distributing the right to create money in this way we make $1,000,000 per capita available to finance secure sovereign investment, globally, proportional to population, at 1.25%

If we closely examine the suggested benefits of a UBI, we find they can not be fully realized if the benefit is not global

No group of single state welfare distribution schemes can create the amount of money we need to provide sufficient income, nor can they address the disenfranchisement of those denied access to sustainably priced fiat credit…

..while adopting the rule allows 100% of adult humans to claim their Share

In this way the funding of a global basic income is provided by sovereign entities simply paying the interest on their debts

The current level of sovereign debt will return about $20/month to each, globally, without any change to taxes, because the current debts are being paid…

..a token maybe, but significant in many parts of the world, enough to get clean water…

..as more money is borrowed into existence the basic income increases, and as more is spent on basic needs the cost of providing them decreases…

..at some point we reach a market based global basic income, that is paid to each as interest on owned property, from their bank

If you’re looking for a job advertising the staus quo friendly UBI, this is pretty good work..

…to actually address the existing problems though, we need global economic enfranchisement

thanks for your kind indulgence

Show your support

Clapping shows how much you appreciated stephenstillwell’s story.