Implement Econguru’s “Debt for Equity” swap before we reach financial Armageddon! 30+ trillion dollars of common stock equity can be raised in ONE day and all federal debt can be erased in a matter of minutes through a simple series of wire transfers!
The Standard and Poor’s 500 companies can issue new secondary stock offering of Class A non-voting of stock, equal to 1.33x of their present capitalization and thus raise 30 trillion dollars of stock equity. These shares will be swapped for the present government debt and the National Debt is gone forever!
7 trillion dollars of common stock equity is now available to fund Social Security in perpetuity, forgive all federal student loans, balance the Federal Budget, bail out debt-laden states like California, preserving their public pension funds, especially those of California’s, retired teachers! Get on with it, before we see the financial ruin of the United States!
Ask TheEcon Guru
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Hamilton Marshall Smith, Chief Economist