As many of my readers know, I have been speaking of a novel construction within an economic and legal framework called General Federalism which is itself called the “Public Trust”. It’s a way of capturing the best of free market ecnonomics and planned economies, while discarding their negatives.
I have also been promoting it to the kinds of people with the influence to do something with it. I have been lamenting to people how we are wasting valuable time by not implementing principles of General Federalism globally, even if done incrementally (I generally don’t like incrementalism).
I am relieved and happy to see that it has paid off. My “friends” over at the CFR are finally beginning to see things clearly. They have proposed a “Public Trust” for the purpose of backing rule of law. Ironically, this will have the effect of doing exactly what I recommended some months ago: any incremental step involving currencies must simultaneously bring with it a legal entity and framework to give it the full faith and credit policy makers need to manage the economy and prevent financial diasters such as the one that recently occurred in the EU. They’ve called it “Memorandum 26” and it is a seminal event in the history of the management of human society, imo.
My discussion of the Public Trust under General Federalism can be found below.
And the legal entity backing it can be found here
A Constitution for A General Federation
Memorandum 26 is here:
And the CFR article on the Memorandum can be found here.