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The International Institute of CPAs
Founded in 2003, incorporated in Delaware 2008 until October 2019, the Institute is operating solely as the International Institute of Certified Professional
Accountants Verein — association under Swiss law — promoting the general interests of international certified professional
accountants and the public interest in the relevance, reliability, timeliness, and faithfulness of financial repesentation under
IICPA SuperGAAP®, signifying dynamic forward-looking auditing and reporting standards, on this
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MONEY COUNT DOWN
- Monetary Improvement - Balanced Federal Budget - National Debt Redemption - Unconditional Basic Income - Venture Capital for the People -
Thomas Paine (1797) Agrarian Justice reproduced.
— The Wealth of Nations depends on systems. During the Global Financial Crisis of 2008 the Treasury with the Federal Reserve in tandem bailed out the banks but left the system unchanged.
The fallout from the Covid-19 pandemic of 2020 is an even greater challenge. But breakdown is also breakthrough. The author, who is an international banker, CPA, and a professor of
accounting and finance emeritus, proposes to put an end to discretionary bank lending and money creation by an Act of Congress to take back its constitutional money power, instruct the
Federal Reserve to redeem the national debt — the plan is inflation-neutral — balance the budget and make way for UBI - Unconditional Basic Income. Thomas Paine’s essay of 1797, “Agrarian
Justice,” is discussed and reproduced in the Appendix. — See IICPA Publications
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Equalization Consoles in lieu of the Old Bank Bailouts
— Open letter
to Christine Lagarde, President of the ECB European Central Bank — 12 April 2020.
"I disagree that the current Covid-19 pandemic requires bank bailouts exceeding the requirements of the GDF Global Financial Crisis of 2007-2008.
I disagree and point you to the solution found by the CDG Colm-Dodge-Goldsmith Plan of 1946 and the highly successful subsequent German Monetary Reform of June 1948.
I am enclosing a demonstrative example for the creation and use of Equalization Funds in the attachment, and the beneficial results on bank financial positions.
Liquidity is another matter, and the ECB has mechanisms in place to come to the banks' assistance in order to guarantee the functioning of the payment system.
Money today is only bookkeeping, and problems created by bookkeeping can be solved by bookkeeping, say accounting, not by complex financial plans created in the ivory towers of economists.
Underlying complexity is simplicity." —
More
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Disaggregation: Cities after coronavirus. How Covid-19 could radically alter urban life —
More.
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Covid-19 Warning. The unheeded lecture five years ago April 2015: "The next outbreak? We’re not ready" by
Bill Gates.
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UBI - Universal Basic Income. "Will coronavirus signal the end of capitalism? The peasants' revolt after the 14th-century plague saw off
feudalism. After COVID-19, will it be the turn of capitalism?" — By Paul Mason,
Journalist. — Excerpts:
"Even though most ordinary people do not understand how dangerous this is, the people in power do. That is why they have persuaded the central banks to effectively nationalise the bond markets.
This means that states are issuing debts to bail out people and companies — as with Trump's two-trillion-dollar deal — and those debts are being swallowed up by another part of the state itself —
the central bank.
"Left-wing economists [...] have been warning that, in the long term, stagnant growth and high debt were likely to lead to these three policies: States paying citizens a universal income as
automation makes well-paid work precarious and scarce; central banks lending directly to the state to keep it afloat; and large-scale public ownership of major corporations to maintain vital services that
cannot be run at a profit."
"As for the funding of state debts by central banks, this is seen as an admission of moral defeat by capitalism: It is entrepreneurship and competition that are supposed to drive
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growth, not the Bank of England or the Fed printing money and lending it to their treasuries. Therefore, a capitalism permanently reliant on these mechanisms is unthinkable to most traditional economists."
— By Paul Mason 03 April 2020 on
Aljazeera Studio B Unscripted —
Interview with Molly Crabapple on YouTube.
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Things Which Should Be Entered in the Books of the Merchants. —
Of all the cash that you might have, if it is your own-that is, that you might have earned at different times in the past, or which might have been bequeathed to you by your dead relatives or given you as
a gift from some Prince, you shall make yourself creditor (creditore te medesima), and make cash debitor. As to all jewelry or goods which might be your own-that is, that you may have got through business
or that might have been left you through a will or given to you as a present, you must value them in cash and make as many accounts as there are things and make each debitor by saying: For so many, etc.,
of which I find myself possessed on this day, so many denari, posted credit entry at such and such page; and then you make creditor your account (tuo conto), that is yourself (medesimo), with the amount
of each of these entries. But remember these entries should not be for less than ten ducats each, as small things of little value are not entered in the
Ledger... — Luca Pacioli (1494), "The Rules of Double Entry Bookkeeping. Particularis de computis et scripturis"
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Fra Luca Bartolomeo de Pacioli (sometimes refered to as Paccioli or Paciolo, 1445-1517 A.D.) was an Italian mathematician, Franciscan friar, collaborator with Leonardo da Vinci, and seminal contributor to the field now
known as accounting. Summa de arithmetica, geometria, proportioni et proportionalita (Venice 1494) is a textbook written for use in the schools of Northern Italy. It was a synthesis of the
mathematical knowledge of his time, including the first published description of the method of bookkeeping that Venetian merchants used during the Italian Renaissance known as the double-entry
accounting system.
Left: Portrait of Luca Pacioli and his assistant. Painting traditionally attributed to Jacopo de' Barbari 1495.
Order Book: Luca Pacioli (1494),
"The Rules of Double-Entry Bookkeeping. Particularis de computis et scripturis."
Translated by John B. Geijsbeek (1914). Republshed 2010 by IICPA Publications. Pbk. 108 pages, $6.75 -
Available for order worldwide from IICPA Publications pbk. or
Amazon pbk. US |
Amazon Camada |
Amazon pbk. UK |
Amazon pbk. DE|
Amazon pbk. FR |
Amazon pbk. IT |
Amazon pbk. ES |
Amazon pbk. IN
Amazon pbk. JP
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