First, the good news: Yes, some people has the ear of both Obama and his team.

Now, the bad news: All of them belong to the cunning cabal you mention in your excellent article.

So, back to square one. Please, find another solution.

You make a good point about the overwhelming. I’ve made it, if I can even get to it in 12 minutes, by talking about how, if the entire U.S. debt was monetized, our foreign creditors China, Japan and the wretched petro-tyrannies might have to back-flow capital to U.S. banks. They could put it into FDIC insured CD’s. I don’t want Dubai Ports World running our ports, but so long as we have klepto-capitalism, I foresee no problem with our foreign creditors, under strict regulation, recapitalizing Bank of America, Citi, and J.P. Morgan Chase with deposits, so long as they also bought enough stock to take control of executive appointment and compensation. my guess is that they’d be less reckless with ‘their own’ capital.

i look forward to reading your book.

Stimulate Without Debt!

We could have all the stimulus we need to revive the job market and lending without inflation and without encumbering a nickel more deficit, national debt and direct taxes! All we have to do is amend the Federal Reserve Act to allow the government to create government money without debt, like Continentals or greenbacks. They lost value when there was all-out civil war, real scarcity and one of two governments was going to lose (and its money become valueless.) That’s not true now.
“American Recovery Currency” could even be created without printing money by monetizing part or all of the national debt. That would happen if the government simply legislated that U.S. savings bonds, etc. were legal tender. If your savings bond was made legal tender, you would have principal plus interest to date. You could spend it, pay taxes with it, put it into an FDIC insured CD, or invest it. So could our foreign creditors, mainly the Chinese, Japanese and Arabs. They could back-flow: buy our zombie banks stock and re-capitalize them with deposits.
Since World War Two we rebuilt Europe, including Germany and Japan, and capitalized South Korea and China by consumer purchases, while neglecting our infrastructure and education. They shouldn’t run our ports, but if they recapitalized Bank of America, Citibank and JP Morgan Chase, and controlled their CEO pay, we’d all have more modest and prudent management.

Energy efficiency, solar thermal and electric, wind/tidal, and biomass are inherently diffuse energy resources that are difficult to centralize and redistribute at a profit. But when applied in a decentralized energy infrastructure where power production occurs direct at, or very close to the point source of consumption, this technolgy is very cost effective for the people actually paying the bills.

Unfortunately, consumers lack both the will and financial resources to capitalize the technolgy to create this decentralize energy infrastructure, even though they are actually paying more for the continued expansion of the existing centralized power infrasture we currently have. Corporate America is content to continue feeding the inefficent beast while reaping obscene profits at the expense and hardship of the ratepayers it is serving.

Large scale capitalization of small scale energy efficiency and alternative energy projects is the most effient path to true energy independence, yet that is not the path we are following.