Money Market Reform
End financial market practices and government fiscal policy that allows global corporatism to concentrate wealth and power.
Read in relation to Reform 9, Reform 10 and Reform 11
Key Components
- Corporations will only be able to form for specific purposes and a specific time period, with none of the rights in law attached to individual citizens.
- No one company shall have more than a 10% share in any one market.
- Neo-liberal practices that take advantage of low cost structures in other parts of the world at the expense of their country of origin will be discouraged with suitable disincentives.
- Speculation on currencies, money market insurances, futures and ‘derivative products’ will be banned.
- Central bank quantitative easing will be ended. Governments will not engage in deficit spending.
- Excessive profit taking will be regulated.
- Free market processes will replace government central planning.
- Stocks or shares will have a life limited to 7 trades before being cancelled.
- No corporation will be considered to big to fail. No bailouts.
Major effects and benefits
- Political and economic power enjoyed by private corporations over the will and rights of the people will be ended. Neo-liberalism will be no more.
- Accumulating wealth through unproductive speculation will end.
- Economic volatility caused by money markets will end.
- The share market will only be used to fund business ventures.
- Government deficit spending will not be possible.
- Vast wealth disparities will no longer be possible.