This idea has already (within days) generated support. A petition addressed to the USA Senate and others - see below - has been drafted by a supporter.
This is a campaign for safer finances, safer house prices, and safer savings and pensions - in short, for financial services that everyone can trust and understand without constant visits to a financial adviser, and without constantly needing to worry about the wealth that we have saved, the cost of our mortgage, the way interest rates are going to change, and so forth what else may be going on that is beyond our control.
This is a campaign for safer finances, safer house prices, and safer savings and pensions - in short, for financial services that everyone can trust and understand without constant visits to a financial adviser, and without constantly needing to worry about the wealth that we have saved, the cost of our mortgage, the way interest rates are going to change, and so forth what else may be going on that is beyond our control.
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If you are familiar with the theory and you feel that it deserves to be heard then please consider drafting a better petition before it goes live.
Here is the first draft, written by Larry Bernstein, and the url which takes you to the current petition address:
He proposes a solution safe with some new financial services that protect wealth not money, designed for governments and businesses and people to borrow from savers and investors in bonds, making all parties safer in the process.
Edward is one of the best.
One top economist told me why they do not discuss my ideas - if they think outside the box they lose their jobs. ANOTHER AGREED AND SAID IF ANYONE THINKS OUTSIDE THE BOX THEY LOSE THEIR JOB.
A contact of mine, who tried to explain some of this new thinking to a professor at one of the world’s leading universities, was told ‘”It cannot work.” Asked why, the professor replied, “There are no losers”. Asked if that is what he was taught at university, he said “Yes”.
What this conversation comes down to is that economists are not trained in financial services but are tampering with the economy - like a doctor administering medication. Then there are always losers (side effects) - because all interventions distort the economy in some way.
THE WAY FORWARD
They have to appoint an official select committee of bankers and actuarial science, accountants, policy-makers, economists, and financial regulators to go through these ideas with Edward Ingram and his team.
1. Ask your friends to visit this or the main website. Add it to Facebook. Like it on Facebook. Tweet it.
Every visit is counted as you can see at the top of the page. It is the only way we know to get a million shouts, but if you have a better idea please let us know.
2. Ask every economist, every business editor, every financial person you know to have a look at the following websites.
For them, there is the science of savings and debt to be found here at
For actuaries:
http://ingram-school-illustrations.blogspot.com/
For others:
http://macro-economic-design.blogspot.com
3. Ask them to invite Edward and his team to make presentations at universities and international conferences.
Edward Ingram has made several presentations at universities. He gets invited back. Edward, together with some of his supporters are available NOW to present papers.
A MILLION SHOUTS
Who can argue with a million visits? Or now, with that many signatures to a petition of fewer from a petition of experts.
Return to this page for an update on that petition so that you can sign and pass it on to others to sign.
This is our target. How to help? Help us to get there.
If you are familiar with the theory and you feel that it deserves to be heard then please consider drafting a better petition before it goes live.
Here is the first draft, written by Larry Bernstein, and the url which takes you to the current petition address:
Hi,
Background
A concern for american families and businesses is substantially addressed in a macroeconomic design concept, so that financial services like housing, government, and business finance, savings and pensions, boosting confidence at every level giving everyone a better chance of success in planning their personal savings and lifetime and business finances. This should be politically attractive.
That's why I created a petition to The Connecticut State House, The Connecticut State Senate, Governor Dan Malloy, The United States House of Representatives, The United States Senate, and President Barack Obama, which says:
"To be delivered to: The United States House of Representatives, The United States Senate, President Barack Obama and Governor Dan Malloy I am writing to you to ask for your help in getting my friend Edward Ingram a hearing before the Senate, Congress, or a Treasury Committee.
Background
A concern for american families and businesses is substantially addressed in a macroeconomic design concept, so that financial services like housing, government, and business finance, savings and pensions, boosting confidence at every level giving everyone a better chance of success in planning their personal savings and lifetime and business finances. This should be politically attractive.
That's why I created a petition to The Connecticut State House, The Connecticut State Senate, Governor Dan Malloy, The United States House of Representatives, The United States Senate, and President Barack Obama, which says:
"To be delivered to: The United States House of Representatives, The United States Senate, President Barack Obama and Governor Dan Malloy I am writing to you to ask for your help in getting my friend Edward Ingram a hearing before the Senate, Congress, or a Treasury Committee.
He proposes a solution safe with some new financial services that protect wealth not money, designed for governments and businesses and people to borrow from savers and investors in bonds, making all parties safer in the process.
Edward is one of the best.
Please read:
http://macro-economic-design.
www.fin24.com
Will you sign my petition? Click here to add your name:
http://petitions.moveon.org/
Thanks!"
www.fin24.com
Will you sign my petition? Click here to add your name:
http://petitions.moveon.org/
Thanks!"
Stay in touch until the best wording has been agreed - maybe your wording - email Edward and Larry here:
edward.ingram,2009@googlemai.com
larry.bernstein@gmail.com
The original draft which prompted Larry to try something was this:
The following draft letter from you to someone that you know may be of use:
Dear
I am writing to you to ask for your help in getting my friend
Edward Ingram a hearing before the Senate, Congress, or a Treasury Committee.
Edward has spent over a decade drafting a book, with the support and
encouragement of a high powered peer review group from banking, actuarial
science, economists, and others on the underlying causes of financial
instability. The effects will include a highly significant boost to the party
in power through making financial life easier for everyone in the land as well
as for governments and the economy. All of the benefits are for ever. Here is a
more detailed list of outcomes:
1. Safer financial services like housing, government, and business finance, savings and pensions, boosting confidence at every level and giving everyone a better chance of success in planning their personal savings and lifetime and business finances, which includes government borrowing, spending, budgeting, and housing.
2. A general feeling of confidence in all such things will significantly boost everyone’s spirits as well as the economy.
3. Risk reduction will significantly reduce the cost of borrowing trillions of dollars and reduce the need to pay down government debt, some of which can provide a safer place for retirement funds than anywhere else replacing fixed interest bonds with wealth bonds. See chapter 4 of the draft book.
4. Risk and volatility reduction will curb the opportunities for some unloved financial institutions to grab wealth off the rest of the world.
5. Adoption of the proposed new wealth bonds and ILS Mortgages and related business finance plans will enable policy-makers to plan a soft way out of QE tapering and rising interest rates. This could take away the volatility in the markets and save years of delay in full economic recovery.
Most finance related problems will simply disappear. That includes asset price bubbles. Economic growth will be more easily sustained and recovery much faster.
2. A general feeling of confidence in all such things will significantly boost everyone’s spirits as well as the economy.
3. Risk reduction will significantly reduce the cost of borrowing trillions of dollars and reduce the need to pay down government debt, some of which can provide a safer place for retirement funds than anywhere else replacing fixed interest bonds with wealth bonds. See chapter 4 of the draft book.
4. Risk and volatility reduction will curb the opportunities for some unloved financial institutions to grab wealth off the rest of the world.
5. Adoption of the proposed new wealth bonds and ILS Mortgages and related business finance plans will enable policy-makers to plan a soft way out of QE tapering and rising interest rates. This could take away the volatility in the markets and save years of delay in full economic recovery.
Most finance related problems will simply disappear. That includes asset price bubbles. Economic growth will be more easily sustained and recovery much faster.
The ideas are both practical and simple to introduce,
leaving most things almost unchanged or only slightly altered, making financial
institutions and banks more sustainable and more profitable. What prevents this
from going ahead is largely legislation and related regulations and traditional
thinking which is based around false concepts like ‘all interest is a transfer
of wealth’ which, with money changing in value all the time, is clearly not the
case.
Edward Ingram has already been very successful at changing a
number of ways in which financial institutions deliver their lending and
investment services in two nations, the most important being the UK. He has
been able to devote ceaseless energy to this project for over a decade since he
retired young, partly in order to do this. It takes a long time to make a
convincing, detailed, fully illustrated, simple, and practical plan. Hence the
time taken.
Peer reviews are ecstatic. He deserves a hearing. Can you
assist please?
He now writes for the premier on-line financial magazine in
Africa, www.fin24.com and his website has had over 20,000 page views already: http://macro-economic-design.blogspot.com
HIGH LEVEL SUPPORT FOR THESE INNOVATIONS
IS COMING FROM
The Board of IngramSure (UK) Ltd whose members include:
Graham Hollick, Fellow of the Institute of Bankers, and an ex President of the International Union for Housing Finance and ex CEO of Old Mutual Zimbabwe - he steered his building society through hyper-inflation.
Andrew Pampallis, Fellow of the Institute of Bankers and ex head of banking at the University of Johannesburg.
Others that have been and/or still are active supporters include:
Daniel Makina, Professor of Finance, Risk Management, and Banking, at UNISA who is happy to recommend others to look at these ideas - he says so publicly.
Roger Bevan, Fellow of the Institute of Actuaries in London, is impressed with the mathematics and wished Edward well in finding a commercial partner to bring the new model for mortgages to reality - but legislation is in the way. Banks are too busy to look at it.
An Actuarial Analyst wrote in 2008 that the ideas are academically sound and can be of use in resolving various financial crises which the world is faced with. On the same page readers can see that:
John Robertson, an economist, wrote a report summarising the findings of a high powered peer review committee saying that for the past century the mortgage model in use has created ever greater instability in economies and financial institutions alike, yet until now, until Edward Ingram did so, no one has sought to explain it.
THE REASON FOR SHOUTING
One top economist told me why they do not discuss my ideas - if they think outside the box they lose their jobs. ANOTHER AGREED AND SAID IF ANYONE THINKS OUTSIDE THE BOX THEY LOSE THEIR JOB.
A contact of mine, who tried to explain some of this new thinking to a professor at one of the world’s leading universities, was told ‘”It cannot work.” Asked why, the professor replied, “There are no losers”. Asked if that is what he was taught at university, he said “Yes”.
Well in my experience,
if you take your car in because there is something wrong with it, the only
loser is your cost of repair. Everyone else wins.
What this conversation comes down to is that economists are not trained in financial services but are tampering with the economy - like a doctor administering medication. Then there are always losers (side effects) - because all interventions distort the economy in some way.
THE WAY FORWARD
They have to appoint an official select committee of bankers and actuarial science, accountants, policy-makers, economists, and financial regulators to go through these ideas with Edward Ingram and his team.
FOUR THINGS YOU CAN DO
1. Ask your friends to visit this or the main website. Add it to Facebook. Like it on Facebook. Tweet it.
Every visit is counted as you can see at the top of the page. It is the only way we know to get a million shouts, but if you have a better idea please let us know.
2. Ask every economist, every business editor, every financial person you know to have a look at the following websites.
For them, there is the science of savings and debt to be found here at
For actuaries:
http://ingram-school-illustrations.blogspot.com/
For others:
http://macro-economic-design.blogspot.com
3. Ask them to invite Edward and his team to make presentations at universities and international conferences.
Edward Ingram has made several presentations at universities. He gets invited back. Edward, together with some of his supporters are available NOW to present papers.
Alternatively you can donate any small amount. Even ten pounds will help.
With a little more we can distribute leaflets in the street with that money. With more we can do more. We can organise conferences. We can hire a PR company to help. See details on the DONATE page.
With a little more we can distribute leaflets in the street with that money. With more we can do more. We can organise conferences. We can hire a PR company to help. See details on the DONATE page.
At present there are zero funds - this campaign has taken half of Edward's Retirement Funds simply because he could have found work when he retired in 1992 at the age of 52. But he wanted to get this done and so he just retired on his savings.
Who can argue with a million visits? Or now, with that many signatures to a petition of fewer from a petition of experts.
Return to this page for an update on that petition so that you can sign and pass it on to others to sign.
This is our target. How to help? Help us to get there.
Great idea, Edward. This public advocacy site is badly needed. It could have spared untold thousands of families the path to financial ruin because they were unaware of how they were being duped by bankers, appraisers, media, unions, watchdogs, and government officials. I wrote a book on many of the same goals/aspirations of Shout. In the public interest I tried to provide the electronic version free of charge. Amazon refused but allows the price to be the min $3.00.
ReplyDeleteThe book is "American Betrayal: A whistleblower’s account to expose how the government and its watchdog cheerleaders caused the financial crisis and why the public needs to fight back." On Amazon, B&N.
It is about my ill-fated attempt as a government whistleblower who tried to protect the public and prevent the financial crisis. It provides a shocking account why the financial catastrophe of 2008 – 2009 would not have occurred if top officials had not been “captured regulators” by the largest banks.
Like nearly all other government whistleblowers, I was ignored at first, and then silenced by the FDIC until stripped of all of my relevant duties after warning repeatedly in 2006 that a “crisis of our own design” would lead to the bank failures that subsequently occurred.
American Betrayal shows the public why recently enhanced whistleblower protection laws are woefully inadequate and merely offer a “plastic shield” to whistleblowers who attempt to go up against the government, due to our highly dysfunctional regulatory and legal system.
The only ones who benefit by government neglect are lawyers, non-government watchdog organizations, and public sector employee unions. One finds a clear account of this in my book, American Betrayal. The government and its cronies have purposely betrayed the public to retain the status quo where those in power, prosper, and the common folks are left far behind.
I know how the journalism profession, like the banking profession, regulatory profession, etc., is not immune to having a “blind spot” and is definitely not immune from acting in herd behavior patterns which prevents sound judgment. In 2004 I formally proposed to my senior managers at the FDIC to provide on the web to the public, a mortgage calculator to show monthly payments and percentage of their disposable income given various loan terms. My proposal was rejected with the reason the FDIC's mission was not to "protect the public in that manner." Absurd, we now know.
There have been so many stories heralded by the media and politicians about improper actions by bankers and regulators, let’s face it; the public has built up a shell of resistance. “How much more of the story can possibly be known” is what most people think at this point. Any more information regarding the financial crisis and advent of the crisis is no longer interesting or “news.” Somehow, Shout will have to solve this problem.
The public, including journalists, needs to become more active advocates of public rights and whistleblower rights and help formulate a better worldview of understanding what truly matters to society. We need to emphasize a new kind of philosophy of humanity, philosophy, psychology, science and mathematics that emphasizes openness, connectivity, fairness, and creativity -- if we truly want a whistleblower type framework that is effective by protecting the public.
I also write about this on my blog at http://govwhistleblower.wordpress.com/about/
Of course, any and all of my information on the blog or in the book is available to be freely used or reposted in Shout or other public interest forums.