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

COMMON ASSETS-NATURE

COMMON ASSETS-SOCIAL

ASSAULT ON THE COMMONS

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.”

Alaska Model: Alaska Permanent Fund (Share of the commonwealth)

Alaska Model: Alaska Permanent Fund

Sky-trust Rent Loop US Sky-Trust-CAP/TRADE PERMITS

Sky-Trust

VT ASSETS-Natural

Gemstones $1,000 Sand and gravel, construction $21,200,000 Stone: Crushed$22,800,000 Dimension$29,000,000 Talc, crudeNot 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

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

VT WATER-2004 WATER 1C/GAL>100 GALS $87,831,410

VT LAND-2004 VT LAND VALUE $14,928,311,688 RENT 1% $149,283,117

VT ASSETS-Social

VT Trust-US AIRWAVES

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

VT Trust-US AIRWAVES

International Exchange Goods and Services $30 Trillion/yr Buying and selling of paper $1.5-2 Trillion/day =$ T/year 95% speculation in paper!

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 billion Government Bonds $41.6 trillion $27.7 trillion 0.1% $27.7 billion Corporate Bonds $22.1 trillion $14.7 trillion 0.1% $14.7 billion Futures Contracts $100 trillion $66.7 trillion 0.02% $13.3 billion Currency $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 billion Options Not available NA 0.01% NA Total US Revenue(.25% RATE)$128.4 billion x.21% Vermont Revenue $268,891,964 Source: Taxing Financial Speculation: Shifting the Tax Burden From Wages to Wagers by Dean Baker. February Ctre for Economic & Policy Research

WHO CREATES MONEY? (SEIGNORAGE) GOVT (CURRENCY) $600 BILLION7% BANKS (LOANS) $8 TRILLION93% TOTAL$8.6 TRILLION 100%

FRACTIONAL RESERVE ~3-5% FED RESERVE BANKPRIVATE BANKING SYSTEM $1000 DEPOSIT $1000 (5% OF $20,000 “on reserve”) LOANS $20,000 ASSETS INTEREST PLUS INTEREST! How the Federal reserve system creates a private banking monopoly cartel!

VT MONEY CREATION VT BANKS (LOANS) $3,574,450,000 1% RATE$35,744,500

VT INTERNET ACCESS WEB SERVERS AND ACCOUNTS? ??????????????? Created by Public financing through DARPA. Public deserves a return on their investment: Share of access, not commerce:

VT Common Assets Permanent Fund

VT Common Assets TOTAL MINERALS-10%$7,300,000 PUBLIC FORESTS $62,237 WATER -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 $711,078,622 Vermont pop ,394 Dividend each $

COMMON ASSET DIVIDENDS