Federal Credit Receipt

To get a handle on the total debt market, one must consider how to de-couple USD from debt AND allow retirement of the debt. To that end:

If the Social Security Administration were to turn in a few of their bonds to the Treasury, the Treasury could issue them a "Federal Credit Receipt" (FCR). That FCR represents an obligation on the part of the Treasury/Federal Government and is an asset owned by SSA, in the custody of the Treasury.

What that does, is allows the Treasury, Federal Reserve, and potentially Congress to set terms on the redemption of the FCR.

For example, the Federal Reserve economists might determine that a Texas Stock Market is beneficial to Texas in distribution of capital and its economy. So, the FCR might be redeemed for ownership in a Texas Stock Market. The FCR would then be off the books of Federal obligations and SSA would hold beneficial ownership in an income-producing asset.

This plan shores up Social Security, while allowing a way out of the debt, and provides resources to economic development and infrastructure throughout the United States.

Fixing money

Money can be fixed by simply keeping accurate track of a person's transactions.  Reputation.  It doesn't matter which currency: USD to seashells.

It's that simple.  The formal structure for that ledger is below.

How to eliminate the "national debt"

Retire each existing Treasury bond, in exchange for a new monetary instrument called a "Federal Credit Receipt" (FCR).  The FCR is essentially an IOU that is non-interest bearing.  

This allows economic control over the bonds and where the value is directed.  Rather than China selling $2 trillion in bonds, receiving dollars, and then spending them, the Fed & Treasury can decide what can be purchased and define the terms.


Example: Social Security can turn in some of their Treasury bonds for a Federal Credit Receipt. The FCR can be used to purchase a Texas Stock Market, with Fed oversight.

This controls inflation and gets the US out of debt, while rebuilding the economy.

Money is accounting and the corruption is underestimated.

What is needed is a common language to describe financial transactions. I solved this 8 years ago. It's a structured form of contract law.

Lawyers, IT, and finance can't screw it up. Nor can it be misrepresented by other languages or cultures.