Bankrupt the City of London - “Clarity, Equity and One Set of Books!” - Flat Tax - Payroll Credit - No Odious Debt

Abel Danger suggests studying the text/links below and let us begin to bankrupt the City of London by repudiating all Odious Debt and predatory credit-default swaps in its $64 trillion Carbon Disclosure Project.
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Source: National Post

Ontario's odious obligations

Lawrence Solomon, Financial Post
Saturday, Dec. 18, 2010

Obligations that are odious should not be honoured. So says the Doctrine of Odious Debts, a theory first postulated by Russian legal scholar Alexander Sack in 1927 that is now increasingly accepted by international bodies such as the United Nations and the International Monetary Fund, as well as by today's legal scholars.

That doctrine, to date, has been applied chiefly in undemocratic settings, where tyrants callously rack up debts that a hostage citizenry is then expected to repay. It may soon be applied more broadly in democratic states where elected leaders fail in their fiduciary duties, wrongly saddling current taxpayers as well as their children with dubious obligations that do not benefit them, and that they didn't request.

In the United States, governments at the state, county and municipal levels are beginning to roll back pension obligations that previous governments had negotiated with civil service unions, arguing that the pensions are unreasonably rich and unaffordable. These odious-debt-type cases between unions and successor governments are expected to ultimately be settled by the U.S. Supreme Court.

For Canada, let me offer as a test case my province of Ontario, where the government of Premier Dalton McGuinty has embarked on a spending spree in the name of creating green energy jobs. Under McGuinty's plan, the province will replace its fleet of coal plants -- among the cleanest, most reliable and most economical in the continent -- with renewable power contracted from developers at windfall rates -- as much as 20 times the cost of power from coal plants. Some of the contracts are flipped after signing -- the contracts are so ridiculously generous that the same one can generate quick profits for multiple players.
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For references, here is a non-partisan platform designed to work everywhere ...

“Clarity, Equity and One Set of Books!”Flat Tax - Payroll Credit - No Odious Debt

REPLACE taxes described by 9 million words of the USA Revenue Code with a flat tax on consumption (c.f. Hall-Rabushka) by taxing income and excluding investment. Support States' business tax on gross receipts with a sales tax included in sales price. Use employee payroll credit to stimulate value-added, sustainable and diversified local jobs.

RECONCILE $55 trillion of assets in Carbon Disclosure Project with money apparently stolen from federal, state or local employee pension funds. Stop debt fraud by law firm, hedge fund and private equity groups. Use online balance sheet to control tax and spend.

REPUDIATE odious debt and any carbon tax or cap and trade transactions driven by the Environmental Protection Agency's treatment of CO2 fertilizer gas as pollutant. Sue law firm, brokers and hedge-fund groups gaming pensions on Chicago Climate Exchange.

RECOVER custody of public equity in Carbon Disclosure Project by issuing Letters of Marque and Reprisal. File civil claims against law firms, consultants, NGOs and private-placement agents engaged in CO2e insider trading, insurance and hedge-fund frauds.

RESTRUCTURE and rebalance the federal government. Separate Legislative, Executive and Judicial powers. Combine online tools for an informed public to re-establish Grand Juries. Use favored nation trading status to force allies to deal with government corruption and RICO (racketeering-influenced and corrupt organization) crime offenses.

REINFORCE life, liberty and security and property rights. A Reform T Congress will enforce remedies against wrongful deaths and ensure that no murders are left unsolved, including murders linked to the Waco, Murrah Building and 9/11 crime scenes. Reform T candidates will take the Founders' view of the Constitution and reject donations from corporate and labor unions during election campaigns. A Reform T Congress will purge government of odious debt, credit-default swaps and catastrophe-bond insurance frauds.

So we ask for everyone to think hard; do what is right; start by treating the City of London as a racketeering influenced and corrupt organization (RICO) engaged in a criminal common purpose to extort control over 108 supply chains in the custody of the 108 City Livery Companies.

http://en.wikipedia.org/wiki/Livery_Company
http://www.abeldanger.net/
http://www.captainsherlock.com/