Top Banner
VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program
29

VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

Dec 21, 2015

Download

Documents

Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
Page 1: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

VT COMMON ASSETS PERMANENT FUND

Dec. 7, 2004

G. Flomenhoft, adjunct facultyUVM MPA program

Page 2: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

COMMON ASSETS-NATURE

Page 3: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

COMMON ASSETS-SOCIAL

Page 4: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

ASSAULT ON THE COMMONS

Page 5: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

Common Assets Permanent Fund

Thomas Paine, Agrarian Justice 1797“Men did not make the earth...it is

the value of the improvements only, and not the earth itself, that is individual property...Every proprietor owes to the community a ground rent for the land which he holds.;...from this ground rent...I...propose to create a national fund, out of which there shall be paid to every person...a sum.”

Page 6: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

Alaska Model: Alaska Permanent Fund

(Share of the commonwealth)

Page 7: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

Alaska Model: Alaska Permanent Fund

Page 8: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

Sky-trust

Rent Loop

US Sky-Trust-CAP/TRADE PERMITS

Page 9: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

Sky-Trust

Page 10: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

Sky-Trust

Page 11: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

VT ASSETS-Natural

Page 12: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

Gemstones $1,000

Sand and gravel, construction

$21,200,000

Stone:

Crushed $22,800,000

Dimension $29,000,000

Talc, crude Not released

Total $73,000,000

Rent 10% $7,300,000

VT MINERALS-2003

“The meek shall inherit the earth, except for the mineral rights.” -J. Paul Getty

Page 13: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

VT FORESTS

FORESTS (cords-2002)

791,035

x $50/

Cord =

$39,551,750

x 10%=

$3,955,175

Public Forests

(2004)

$622,371

x10% =

$62,237

Page 14: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

VT WATER-2004

WATER

1C/GAL>100 GALS $87,831,410

Page 15: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

VT LAND-2004

VT LAND VALUE $14,928,311,688

RENT 1% $149,283,117

Page 16: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

VT ASSETS-Social

Page 17: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

VT Trust-US AIRWAVES

Page 18: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

VT Trust-US AIRWAVES

Page 19: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

VT Trust-US AIRWAVES

“They used to rob trains in the Old West.Now we rob spectrum.”Senator John McCain,Chairman, Senate Commerce Committee

Page 20: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

VT Trust-US AIRWAVES

TOTAL US SPECTRUM VALUE $771,000,000,000US population 294,712,028VT population 619,107ratio 0.21%VT Value $1,619,653,939

10% RATE 10%ANNUAL RENTAL VALUE $161,965,394

Page 21: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

International Exchange

Goods and Services

$30 Trillion/yr

Buying and selling of paper

$1.5-2 Trillion/day

=$500-700T/year

95% speculation in paper!

Page 22: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

VT TRUST-US financial Speculation

Current Trading Projected Tax Rate Revenue(Annual Rates) Volume AfterTax Volume (both sides) Stocks $11 trillion $7.3 trillion 0.5% $36.5 billionGovernment Bonds $41.6 trillion $27.7 trillion 0.1% $27.7 billionCorporate Bonds $22.1 trillion $14.7 trillion 0.1% $14.7 billionFutures Contracts $100 trillion $66.7 trillion 0.02% $13.3 billionCurrency $200 trillion $133.3 trillion 0.1% $33.3 billion

(worldwide) (U.S. share = 25%)Swaps $22 trillion $14.7 trillion 0.02% $2.9 billionOptions Not available NA 0.01% NA

Total US Revenue (.25% RATE) $128.4 billionx .21%

Vermont Revenue $268,891,964

Source: Taxing Financial Speculation: Shifting the Tax Burden From Wages to Wagersby Dean Baker. February 2000. Ctre for Economic & Policy Research

Page 23: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

WHO CREATES MONEY? (SEIGNORAGE)

GOVT

(CURRENCY)

$600 BILLION 7%

BANKS

(LOANS)

$8 TRILLION 93%

TOTAL $8.6 TRILLION

100%

Page 24: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

FRACTIONAL RESERVE ~3-5%

FED RESERVE BANKPRIVATE BANKING SYSTEM

$1000 DEPOSIT

$1000

(5% OF $20,000

“on reserve”)

LOANS

$20,000

$20,000

ASSETS

INTEREST

PLUS INTEREST!

How the Federal reserve system creates a private

banking monopoly cartel!

Page 25: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

VT MONEY CREATION

VT BANKS

(LOANS)

$3,574,450,000

1% RATE $35,744,500

Page 26: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

VT INTERNET ACCESS

WEB SERVERS AND EMAIL ACCOUNTS?

???????????????

Created by Public financing through DARPA.

Public deserves a return on their investment:

Share of access, not commerce:

Page 27: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

VT Common Assets Permanent Fund

Page 28: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

VT Common Assets TOTAL

MINERALS-10% $7,300,000

PUBLIC FORESTS $62,237WATER -1c/gallon) $87,831,410

LAND-1% $149,283,117

SPECTRUM-10% $161,965,394

SPECULATION-.25% $268,891,964

MONEY-1% $35,744,500

INTERNET ? ???????????

TOTAL $711,078,622Vermont pop 2004 621,394Dividend each $1144.32

Page 29: VT COMMON ASSETS PERMANENT FUND Dec. 7, 2004 G. Flomenhoft, adjunct faculty UVM MPA program.

COMMON ASSET DIVIDENDS