Anchorage Daily News Letter to the Editor, September 17, 2012

The current presidential election campaigns are so dishonest that I now believe the only possible strategy for starting a national discussion about how to end the onrushing world depression is for state governments to demand changes to federal policy.

The root of the problem is that massive worldwide financial derivatives gambling debts continue to lead the world economy into a horrific depression. The straightforward American System solutions for state governments to discuss are contained in the following list:

Reinstate the 1933 Glass-Steagall Act and 1936 Commodities Exchange Acts to separate commercial from investment banking and recriminalize financial derivatives.

Create a science- and infrastructure-led recovery by requiring our Federal Reserve to extract all illegal financial derivatives and purchase state government bonds.

Require a full 1 percent Wall Street financial transactions sales tax with an exemption for personal retirement accounts to fully fund state and federal budgets.

Alaska’s suggested contribution will be to demand federal dollars for building a plasma-physics institute at the University of Alaska Anchorage to introduce advanced industrial technologies to the world economy.

— Charles E. Duncan

Anchorage

https://www.adn.com/2012/09/15/2626379/state-governments-must-push-for.html