SHOCKING P700.6 BILLION DEBT SERVICING IN 2009 IN THE PHILIPPINES!

                                                         By Eric V.Encina

Under the present outmoded  financial, economic and banking system in tandem with the nasty-muddy and heavily corrupt politics, Philippines has more liabilities, shocking debt servicing due to growing budget deficit and additional horrendous  borrowings to IMF and WB.

The shocking amount of P700.6 BILLION  for 2009 for debt servicing is UNFORGIVABLE TREASON AGAINST THE FILIPINO PEOPLE IN THE CARNAGE OF ECONOMIC CRISIS, ACUTE MONEY CRISIS, HUNGER, STARVATION IN THE SAVAGE CRUELTY AND SPECTRE OF DEATH  IN THE COUNTRYSIDE.

The Philippine Government has raised the amount it will spend for DEBT SERVICING for 2009—from the original P681.5 Billion- to accordingly accommodate more liabilities that will eventually emerge as a result of endless budget deficit.

Under the silly system, the country’s debts to be settled in 2009 will be higher by 10% than the P636.1 Billion  worth of maturing debts to be paid in 2008. The original amount allocated for debt servicing in 2009 took into account a budget deficit of only P40 Billion.

Budget deficit has been adjusted by the Philippine Economic Managers following the dictation of the international bankers up  to P102 Billion due to current financial crisis that is expected to take its toll on tax collection, and the need to raise public spending for pump-priming the economy.

ENDLESS DEBT SERVICING INCREASE EVERY YEAR.  In 2009 debt servicing is composed of P384.8 Billion worth of principal obligations and P315.8 Billion worth of INTERESTS.

THE CRAZY GOVERNMENT OF CRAZY GOVERNMENT OFFICIALS AND ECONOMIC MANAGERS – endlessly on interest-bearing loans to commercial, foreign and international banks TO PAY OFF PRINCIPAL DEBTS AND INTEREST IN THE VICIOUS CYCLES. The tax revenues or tax monies  which are   internally generated funds  by forcing the Filipino people to comply, and the proceeds from the privatization and selling off Government assets – ARE ALMOST WHOLLY USED FOR INTEREST PAYMENTS.

It is a treason against the Filipino people that INTEREST PAYMENTS ARE AUTOMATICALLY APPROPRIATED BY PRESIDENTIAL DECREE, as the major part of the Philippine Government Annual Budget  when THOSE DEBTS AT INTEREST BOTH LEGITIMATE OR ODIOUS IN VICIOUS CYCLES HAVE  NOT BEEN FED DOWN TO THE POOR AND TO ECONOMIC AND SOCIAL WELFARE OF THE FILIPINO PEOPLE. It is silly! It is crazy! It is a savage cruelty.

High percentage of the budget is to siphon off the wealth of the Filipino who should be the one to benefit.

ANOTHER CRIME IS THAT GOVERNMENT HAS REJECTED THE ECONOMIC ALTERNATIVES OF DEBT-FREE MONEY CREATION FOR THE NEEDS OF THE FILIPINO PEOPLE WITHOUT DEBTS AND INTEREST.

The Philippine Government being mesmerized by the present international high finance capitalism system, has been religiously paying off its OBLIGATIONS AND INTEREST FOR ALMOST 30 YEARS  now,   but its obligation to Filipino people is very poor. The government has been trying to bring down the share of interest payment in the national budget but it would remain an illusion or a delusion under the present system. As a matter of fact, it is the opposite that is happening.

For sure, it remains to be extremely difficult for the Philippine Government to attain the goal of posting a balance budget by 2010 when budget deficit continues to grow.

Government is also more willing to bail out the banks in trouble and or to prevent them from collapse from the funds borrowed at interest from the IMF and WB.

This is all madness! This is all bullshit! This is a savage cruelty! Our people are hungry and starving both in material and in cash. Millions are suffering acute material and monetary crisis, unemployment and the epidemic of health crisis and perennially aggrieved by the debacles of natural calamities.

CREATE THE MONEY!  PRINT THE MONEY!  If not, both production, consumption and finance are down!

Eric V. Encina

Filipino Social Crediter/Monetary Reformer

ericencina@yahoo.com

G20 Summit & IMF as the GLOBAL CENTRAL BANK?

                         By Eric V.  Encina

As the G20 Summit started last Friday, November 14th, amid mounting divisions on how "to tackle the global financial crisis, to address the current crisis, and lay the foundation for reforms that will help prevent a similar crisis in the future", peoples all over the world are expecting for the best solutions to stop the crisis immediately. But could these G20 leaders be able to solve the problems?

G20 group club was  created in 1999, the group of 20 countries account  for 85% of the world economy and about two-thirds of its population.

The gathering of world leaders on financial crisis, however, has no quick fix seen since there is a lot of disagreements, divisions and heated debates.

GOOD PROPOSAL BUT WHAT IS NEW FINANCIAL SYSTEM?

French President   Nicolas Sarkozy stated that   it is "necessary to rebuild the entire global financial and monetary system from the bottom up, the way it was done at Bretton Woods after World War II, and to explain that the US dollar, which after the Second World War was the only currency in the world, can no longer claim to be the only currency in the world."

It has been reported that  European political and economic leaders seem  to impose upon us a newworld economic order like the one we imposed in 1944.

UK PRIME MINISTER PROPOSAL:

UK Prime Minister Gordon Brown spoke "we must have a new Bretton Woods -- building a new financial

architecture for the years ahead.” UK Prime Minister is surely aware the first Bretton Woods was a British humiliation, with London yielding place and submitting to Washington's dictation.

The  historic gathering of the G-20, which consists of the G-7 -- the United States, Canada, Britain, France, Germany, Italy and Japan -- plus the BRIC four, the rising economic powers of Brazil, Russia, India

and China, and other nine economic powers, like Saudi Arabia, South Korea and Mexico. Their major objective is tackle the present global financial crisis, to erect a firewall against any future financial crisis. Global leaders are under strain to what must be done to ease the worst financial crisis since the 1930’s Great Depression.

The U.S. dollar which is tied to gold has been  the world's reserve currency as the so-called world's mighty currency.  The pound, the franc and other currencies have been made  tied to the US  dollar at fixed rates of exchange.

WHAT CAN BE DONE TO IMF?

The purpose of the  establishment of IMF or  International Monetary

Fund was originally   to lend to nations  mostly to poor nations with balance of payment problems. However, unfortunately, or inevitably,  this   was obviously the beginning of the global endless financial crisis in terms of debt and endless financial crisis.  Likewise,  the creation  of  International Bank for Reconstruction and Development(World Bank) has of  similar objective  to provide loans for rebuilding war-torn Europe.

It has been proudly  admitted  that the United States of America has  provided most of the financing for the new institutions, BUT TAKE NOTE, MOSTLY IN THE FORMS OF DEBT through the so-called BILATERAL LOANS VIA US BANKS. Likewise,  US foreign aid has string attached of requiring recipient nations to subject to US foreign policies.  USA has  assumed the lion's share of control.

In the history of economics, the most famous economist of the age, J.M. Keynes, led the British delegation, his ideas -- for a new world central bank and new world currency -- but  were brushed aside by the Americans led  Harry White.

WHAT IF J.M. KEYNESS proposal to create WORLD CENTRAL BANK and the new world currency was the one implemented and at work right now? Would there have been no financial crisis like this?

The Bretton Woods system endured until Richard Nixon. With his

country hemorrhaging gold in 1971, Nixon slammed the gold window

shut, cut the dollar loose and let it float against other currencies. Nixon's was an act of necessity. The Europeans, with more dollars than they needed or wanted, were coming to cash them

in and clean out Fort Knox.

Americans resist the suggestions of European friends. It might be  suggested it was  a delusion if  Europeans possesesed  anything like the hegemonic power over America in 1944.  As Gideon Rachman writes in the Financial Times, "Bretton Woods II

holds promise of being a flop. Even in America's financial crisis, no one can dictate to the United States. Nor will rising nations like China, jealous of their sovereignty, accept proctorship from an effete and aging Europe."

IMF as the Global Central Bank?

UK Prime Minister Gordon Brown wants the IMF to become the "global central bank," the Fed of the world economy.  But it seems American is in no way to concede to that idea. It says that Americans are not going to fund

such a bank, nor cede it authority, nor abide by its dictates. America is not yet a third word nation and not dependent to IMF. But likely the outcomes is a strengthened role of the International Monetary Fund or IMF accordingly to help countries find their way out of the financial crisis.

But American economy is in major  meltdown with horrendous records of national debt at interest with the budget deficit of almost US$1.5 Trillion a year. It says that UNITED STATES WILL BE BORROWING OCEANS OF MONEY FROM OVERSEAS particularly from those members of G20 club.

US bail-out to top American banks at the expense of taxpayers is a kind of crime against American people. It has been reported that US Treasury Department has already provided US$125 Billion bail-out in American taxpayer dollars  to NINE OF AMERICA'S  TOP BANKS to save them from the unprecedented calamity. IT HAS BEEN ALSO REPORTED THAT AMERICAN BANKS ARE SALTING WAY MONEY IN BILLIONNAIRE BONUS POOLS TO REWARD THEMSELVES OF THEIR PERFORMANCE.

It is outraging for the bankers to wantonly  waste AMERICAN PEOPLE'S TAX MONEY, HARD-EARNED TAX MONEY! The bankers who caused the crisis and didn't anticipate the subprime crisis -now intensifying and conflagrating all over the world.

The banks are prone to voracious methods of siphoning off money from the taxpayers - that usually turn to taxpayers for help when they in trouble, alas, leaving the American taxpayers holding an empty bag.

IMF  FINANCIAL PACKAGE IS, AGAIN, ANOTHER  FORM OF INTEREST BEARING  LOANS with usual conditions, REPORTEDLY ABOUT US$100 BILLION to countries needing emergency cash through a new, faster short-term lending programmes.

Both the IMF and its sister organization, the World Bank (WB) are heavily controlled by the United States and Europe.

IMF AND WB are in no way suggesting debt money creation method to those countries affected by the global financial crisis.

Globalists see the  worst of world financial crises since the

1930s what New Dealers saw in the Depression: an opportunity to

geometrically augment government power and impose their visions and monopoly  of credit and economy upon mankind.

 U.S. President-elect Barack Obama's chief of staff appears to entertain such thoughts. Said Rahm Emanuel Sunday, "The crisis we have today is an opportunity to finally deal with what Washington, for years, has

kicked down the road.'' Is Pres. Obama in favor of making IMF as the Global Central Bank?

Europen leaders such as UK Prime Minister Gordon  Brown and Nicolas Sarkozy may continue to  believe a new era of multilateralism is upon us, in which they will play great roles, as the bad old Bush era of American unilateralism ends. But should Obama begin to cede U.S. sovereignty? If so,  he might  find himself in the same firestorm that engulfed George Bush and John McCain when they sought amnesty for 12 million to 20 million illegal aliens.

Are the  European leaders  dreaming or correct  when they propose the new financial system?  Is it  nationalism,  or  globalism or multilateralism?  Recall: China, India and the United States rejected the Kyoto Protocols on global

warming. And even if Obama agrees to global climate change demands, Beijing will not.

Russia, too, is ready to use its veto in the Security Council to protect its perceived great power interests.

American unipolarity, which all professed to abhor, is indeed at an

end.

Let us see how the world likes the new multipolarity, with two,

three, many centers of power -- economic, political and military.

This looks less like 1944 than 1904, with the Brits in decline and half a dozen other great powers rising.

I welcome comments.

Eric V. Encina

Filipino Social Crediter/Monetary Reformer

ericencina@yahoo.com

2008 IN THE PHILIPPINES UNDER DEBT-BASED MONETARY SYSTEM

Philippine government has no any subsidy for agriculture or has cut down in the past due to pressures from WESTERN GOVERNMENTS THAT WANT US TO RELY ON THEM for our food needs, under the guise of "globalization". Philippines has once exported rice but now in dire need to import rice. Our government officials are so blinded by neocolonial patronage that they can't see the effects of imports just dollar revenues for payments of interest and for neglecting local farming and agriculture. So our Filipino people are starving. The debt money system is the major culprit and responsible for this worsening mess in the country. DEBT free money creation and the restoration to organic farming from the debt-free finance of the government are of the solutions to prevent hunger. Globalization and debt-fuelled economy are driving us crazy and hungry. THERE IS NO POINT TO PAY THE DEBTS TO IMF AND WB BOTH INTEREST AND THE CAPITAL. The country has paid more than too much. Better to kill us before doing that. - Eric Encina

THE CRUELTY OF POVERTY, FOOD CRISIS AND MONEY CRISIS IN 2008 IN THE PHILIPPINES UNDER DEBT-BASED MONETARY SYSTEM

By: Eric V. Encina

Philippines is in the acute food/rice and money crisis under the present debt money system in the Philippines .

Millions of poor Filipinos are now acutely suffering in the savage cruelty of poverty, food and money crisis in 2008 and within the span of 2 years time.

Imported rice is very expensive. Even there would be tons of imported rice, if the majority of the Filipino people are in the savage cruelty of poverty and acute money problems, they cannot afford to buy increasing prices of rice.

The shortage of local Filipino rice and the costly price of imported price of Vietnam and Thailand rice and lately the plan to import American rice, and the increasing cost production or price of bread, is devastating to poor Filipino families that get them deeper in the dungeon of poverty and despair.

Rice is imported from foreign countries paid from foreign loans from the bankers and financiers. Imported rice is expensive and most Filipino families below poverty threshold cannot afford.

For almost 2 months, the Philippine government has been negotiating to import or buy 1.5 MILLION tons of rice from Vietnam alone, and followed by imported rice from Thailand and under negotiation to import US Rice under debt finance program to US financiers, that is to meet the staple rice food shortfall in 2008.

Imported rice from Vietnam alone is costing around Philippine Peso 60 Billion or more or less US$1 Billion which is roughly equivalent of the 2008 total value of the Value Added Tax (E-VAT) collections for fuel which would put the Philippine government in a very tight spot of choosing between a "balanced budget or a balanced diet".

It is terrible enough that the Philippine GOVERNMENT NEEDS or is being pressed TO BORROW MONEY AT INTEREST TO FOREIGN US BANKS and financiers or lenders to buy rice imports or buy rice from USA and from other countries. Further borrowings overseas cannot solve the problems of food and money crisis in the Philippines .

This is another MAJOR PROBLEM HERE IS THAT THE MONEY TO BE USED TO PAY THE IMPORT OF RICE FROM VIETNAM WHICH IS MORE THAN THE BUDGET OF ANY GOVERNMENT DEPARTMENT IN 2008, WHICH IS SECOND TO PAYMENT OF INTEREST TO IMF AND WB, IS THE MONEY COMING FROM FOREIGN BORROWINGS AT INTEREST!

The balanced budget target of the Philippine government for 2008 would be more impossible and is a delusion when the payments of interest to foreign and international banks and the import of rice are of the priority items.

Poor Filipinos are without choice to eat the lowest quality NFA rice they buy lining up under the summer heat of the sun. Mostly are lining up for foods from government agency-based retail stores in most Philippine provinces but mostly in the capital region of Metro Manila there are over 7 million poor Filipinos. The problem is: NFA rice is without nutritive value and not even good and consumable to animals in the Western world. How come like this?

FOOD CRISIS AND MONEY CRISIS - are the two most fearful things of all. If ever there are available foods in the Philippines for sale locally produced in the national level or from imports, majority of Filipinos can hardly afford due to increasing prices and the losing value of Philippine peso money plus the problem of unemployment. THERE ARE ALREADY 10 MILLION FILLIPINOS SCATTERED IN 200 COUNTRIES ACROSS THE GLOBE FINDING FOR SURVIVAL AND working for a living and sending aid or money back to the Philippines for the survival of their poor relatives and families. Brain drain continues and 5,000 to 10,000 Filipinos alone applying for overseas daily for migration or immigration or employment purposes.

This is now very alarming to most of us that after years of exporting of Philippine best products to foreign lands as pressured by competitive globalization and of course by huge national domestic and foreign debts and the aims to get US$dollars and other major currency revenues from imports to SERVICE the foreign debts, Philippines is now in the very serious edge of food crisis in times of dry seasons. And in view of the worsening food crisis in the Philippines and fearfully all over the world, and as aggravated by deeply entrenched financial-economic crisis and nasty-muddy politics under the present debt money system, most poor Filipino families, men, women, fathers, mothers, children are in the most critical situation.

Food/Rice crisis would continue to ensue in the Philippines and reportedly would take to be resolved in 2 years time unless there would be some imported food aid or there would be a prioritized national agricultural development efforts.

Why it is happening in the Philippines ?

It is happening because the Philippine Government did not and does not prioritize the local economic development for sustainable living for the Filipino people. The Government has borrowed so much of Billions dollars, of yen, or Euros, or pounds sterling, etc. as it is a debt-addict in vicious cycles for the payments of interest and further borrowings again and again while billions of money from loans did not, do not feed down to the poor and the needy but for chicaneries, scamming and racketeering projects, for funding political ambitions, parties and maintaining power. THE GOVERNMENT, PRESSURED OR UNDER CONTROL OF THE FOREIGN, INTERNATIONAL FINANCIAL INSTITUTIONS, MULTINATIONAL CORPORATIONS for their own insatiable interest, greed and avarice, has intensified the IMPORTS OF OUR BEST PRODUCTS TO FOREIGN LANDS for foreign currency revenues as mandated by globalizations, but alas, to pay debts to foreign and international banks.

Poor Filipino farmers have been neglected around 20 million all over the Philippines . Agricultural or farming land are idled. Local farming industry has been neglected and even destroyed by the interest of the multinational corporations promoting GMO and chemically-based farming and being pressured by debt-financed that these poor farmers get hooked to chemicals and un-repayable debts.

Organic farming has been totally neglected and even discouraged. There has been no any subsidy for real for the poor Filipino farmers. My grandparents died as poor Filipino farmers without any subsidy from the government. Most of my family members in the villages and in the provinces are in poverty. Farming is not sustainable.

Even the efforts to initiate for change is a great challenge. Natural fertility of the soil is damaged. However, I believe there is a solution coming forth.

What we need to reform the money system to make more workable for the people and thus would provide economic security towards self-sustainability and right livelihood without pressures from debt finance. Second is to promote the naturally-organic methods of food growing for survival and livelihood.

THE CRUELTY OF EATING LESS: Involuntary Fasting?

The Philippine government is now directing poor Filipinos to eat less rice or just eat any wild yam or any root crops – which of course be of help for short-term but not for the long-term. Government officials say Filipinos should eat less and less in the face of rice food shortage. This is not acceptable. If we could re-read the history of French Revolution, and prior to that, the French Queen, known for her unbridled extravagance, asked an official why the people were rioting. The official answered, "BECAUSE THEY LACK BREAD." Queen Mari Antoinette rejoined. " IF THEY DON'T HAVE BREAD, LET THEM EAT CAKE."

But these government officials and bankers, economists are well-fed. We are told to eat root-crops only. Can we survive only on root crops daily? Rice is our staple food. Steaks, poultry and fish fillets are simply beyond the reach of many poor Filipinos. Even vegetables from chemically-based farming are expensive; besides they don't stave off hunger for long. WHO showed that 33% of Filipino children are stunted and more than 20% are underweight because of under nutrition. Only 2.4 % of the children are overweight, giving us an idea of the portion of rich Filipino families in relation to total starving Filipino population.

HOW THE POOR FILIPINOS EAT AND SURVIVE?

The poor kind of fancy foods without nutritive value and are contaminated by life and health-destroying or killing chemicals and preservatives usually eaten in most Filipino poor family dining tables, the worn-out and nasty houses lived in the detestably shanty and squatter areas by the great multitude of poor Filipinos, the scarcity or very little availability of local, regional and national employment, the deteriorating health conditions and the problems of expensive education under racketeering systems, the huge indebtedness of the government, of the businesses, individuals, families, the super-chaotic political problems and lies, rampant and notorious violence and heinous crimes everywhere, the pestiferous rebellion-insurgency problems in the countryside, millions of poor farmers suffering dire poverty, diseases and loss of income, hundreds of thousands of prostitutes scattered here and abroad under the syndicated profit-making and racketeering trade flesh and pornography, millions of suffering children victimized by child hard labor, physical and sexual abuses, millions of unborn and born children, mothers and their families victimized by Western imperialism of life-destroying and killing well-funded artificial population control and vaccination programs, and finally the declining spirituality and morality of Filipino people are the indeed the real reflection of the anti-life/family economic system and policies in the country. The present Philippine situation can tell the real story about the economic health of the Filipino people.

Because of the debt-based-fueled economic system and policies and the savage cruelty of never-ending monetary injustice of the present financial system, 64% to 80% of Filipino people in our enormously debt-ridden nation are perpetually under the vicious atrocities of dreadful poverty and long-standing financial hemorrhage. The worst common indicators of our unhealthy economy and lack of human and social development under the present system are the increasing desperate colonies of slums even along trash dumps, the squatters almost everywhere, dangerous dwellings along heavily polluted and frequently flooded river banks and areas, over dirty canals, along dangerous rails and under steps and bridges.

The typical or most employed Filipinos in the Philippine Government here complain bitterly working 8 hours a day at P250 to P300 daily or $5 to $6 daily but they have to pay 10 % WITHOLDING TAX, then when they buy groceries in increasing prices, the GOVERNMENT TAKES another 10% to 12% of Expanded Value Added Tax or E-VAT away plus 12% E-VAT to other basic needs like medicines and services like hospitalizations, electric/light/water and to some telephone bills.

When they pay their income taxes, there is still more cash out because the Philippine government takes at least 1/3 of an employees yearly salary. UNDER THE PRESENT SYSTEM, IT IS VERY CLEAR, IT'S LEGALISED HIGHWAY ROBBERY! Taxation is a legalized robbery, and is the bitter fruit of the present outmoded financial-economic system based on debt.

There is a never-ending rat-race between earning and spending because of the unfair system of finance. It is a race that we seem we can't win. We are in the race trap, in poverty trap and in debt trap, beggary trap under the system. Hunger, and starvation of poor families too rampant in the villages, in the provinces and in the countryside.

This is the crazy system of debt finance. We are being killed slowly.

It is my proposal that debts be totally cancelled and interest payments scrapped or stopped. Most debts are odious and the country paid more than too much at the cost of human life. We are starving our children because of the dictatorial demands of the IMF and WB.

Philippine Government must create debt free money in Philippine Peso and provide security to every one in the form of extra basic income or dividend or supplementary basic income for survival of the inhabitants, to emancipate and prevent poverty traps, money needed for the improvement and development of the Philippine villages to sustainability, for the alternative education, and even for the consideration of the payment of legitimate debts overseas by converting debt-free Philippine money peso created into US$ value than borrowing further expensive US dollars to pay for US$ debts.

THE PROGRAMME THAT PHILIPPINES CAN ONLY BUY RICE FROM USA by borrowing money at interest to US financiers is another trap.

That program cannot solve the problem but can potentially aggravate further. This is a kind of manipulation and intimidation. In other words, Philippines can only be qualified to a program if it would borrow money from the US lenders.

The nasty-muddy politics and debt-based-fuelled financial-economic system have also divided the Filipino people in the last two generations. Political parties with their vested interest under the economic and financial manipulators create tremendous division among our peoples. The country is disastrously divided into as many interests, oftentimes conflicting, ambitions destructive to others, bickering groups as there are political groups in nemesis today and organizations promoting the culture of death and vested interest for their own insatiable interest and profits. Profit or money-making is now the primary thing in the mind of trading individuals or corporations mostly private banking institutions, usurious lending agencies and individuals, national and multinational corporations being hi-jacked by the tycoons and global manipulators for controlling money and the population. Immoral profit is now the most important motivator and regulator of the life of our economy and business, without any pity, heart and conscience in skinning alive the poorest of the poor and in perpetually victimizing the innocents.

Chaotic and divisive Philippine politics and debt-based/anti-life economic system have been the most obstructive elements to progress and prosperity in the Philippine society, local and national. Crooked systems and policies have corrupted the Filipino people and almost affecting the next generations.

Our Christian culture, per se, Catholic culture, has been severely damaged by wicked systems, crazy reforms and unjust policies. Moral corruption has seeped into behavior and values of our people where once our ancestors have treasured.

Filipinos are faced with insurmountable problems and challenges. Are we capable of meeting such terrible situations? How can we liberate ourselves from the savage cruelty of poverty and economic miseries, not just daily hunger? How can we rectify the wrong systems and policies? How can we change the hearts of men for the better?

All these are seemed to be despairing but there is always HOPE in the Lord of Life. Our survival and freedom from evil systems and policies and liberation from poverty are a possibility for all in the Philippines . It is our very serious obligation. Our Holy Father Pope John Paul II taught that those who heed the cry of the poor, and who help the poor to meet their needs are the APOSTLES OF GENUINE DEVELOPMENT which is found in an economy adjusted to the welfare of the human person (especially the poor mothers, children and families victimized by poverty and injustice) and in the daily sustenance provided for all.

Survival and improvement of the poorest and most neglected in our nation is at the very heart of Christian Evangelization. This is the mission of all Christians especially Catholics. This is our serious task with everlasting dimension.

GIVE AND SHARE FOR LIFE AND SOUL – is the heart of the Gospel of Jesus Christ. This is a certain way to Heaven. ‘Amen, amen I say to you, so long as you did it to the least of these, my little ones, you did it to Me.’

THE SOLUTION

For many years of my mission for economic/monetary reform and justice in the Philippines, I have been clamorously, consistently and insistently campaigning for major solutions to poverty but alas I have been smugly ignored by the Philippine government officials, politicians and economists, discouraged by the Catholic Church officials and religious leaders and unsupported by fellow laypeople, muted by fellow Catholic, Christian and Non-Sectarian activists, other campaigners and missionaries, adroitly conspired by the financiers, and contradicted by the population controllers and rich peoples.

In this article, I must repeat the major solutions to cure poverty by monetary reform policies and economic alternatives or let me say the new science of economics--of liberation and economic democracy.

1. Philippine Government must create its own money debt and interest free. Stop borrowing money at interest to private/foreign/international banks. Write off the debts since the government, by the increasing taxes of the Filipinos, has already paid the bankers more than enough. Payment of interest and debt at the cost of life of the poor and the innocent children is a crime against Heaven and humanity itself. Philippine national debt comprising of domestic and foreign is almost closed to US$200 Billion and in fact increasing monthly or annually with US$7-10 Billion of interest payment annually causing tremendous vicious cycles of inflationary pressures, economic depression, devaluation of Philippine currency, bankruptcy, corruptions, exorbitant taxes, financial hemorrhage, savage cruelty of monetary and material poverty and unnamed horrors of death of the poor Filipino families and children usually unreported in the countryside.

Every five year, Philippine government is pressured by the IMF to pay membership subscription renewal payment of US$500 Million more or less at to be precise, this year end of around P13 Billion. Membership renewal payment is mandatory to all IMF-members to stay in memberships in borrowing money. The government is pressured to look for money to pay the membership dues by issuance of bonds or promissory notes. One of the reasons why government is contracting bilateral debts to other foreign and international banks and finding ways to collect more taxes from the people to satisfy the conditions and prescriptions of the IMF and other global bankers. Debt is evil under the present anti-life/family financial-economic system – indeed a ravaging disease in the so-called civilized human economy of the first world nations, dreadfully contaminating the poor nations with hundreds of millions of people in untold miseries and casualties more than any natural calamities, wars and terrorism attacks combined in the world. Debt is a wicked instrument of evil one to control peoples and money. And because of debt-related problems, poor Filipino families and children are dying in dreadful poverty, hunger, illnesses and violence. And what is also ironic is that loans of rich nations under the supervision and management of IMF and WB have string-attached of conditionality, immoral and potentially life-destroying-killing population control program using so many deceptive and adroit strategies and soft words to pressure Filipino government and the people to legalize abortion, same-sex marriage, euthanasia and divorce and it is also aggravated by the mandatory vaccination program to poor mothers and children with tremendous side-effects and death.

Stop borrowing money at interest to private and international banks. Create our own money debt and interest free. This is the solution. The Holy Father himself wrote in his Bull Incarnationis Mysterium that: “THE HUMAN RACE IS FACING FORMS OF SLAVERY (DEBT SLAVERY) WHICH ARE NEW AND MORE SUBTLE THAN THOSE OF THE PAST; AND FOR TOO MANY PEOPLE FREEDOM REMAINS A WORD WITHOUT MEANING. SOME NATIONS, ESPECIALLY THE POORER ONES, ARE OPPRESSED BY A DEBT SO HUGE THAT REPAYMENT IS PRACTICALLY IMPOSSIBLE”. And because of debt, the Holy Father wrote further that: “EXTREME POVERTY IS A SOURCE OF VIOLENCE, BITTERNESS AND SCANDAL; AND TO ERADICATE IT, IS TO DO THE WORK OF JUSTICE (write-off the debt) AND THEREFORE THE WORK OF PEACE.” The Holy Father repeatedly calls for the cancellation of debts of the poor nations but this call remains muted, ignored and disdained by the world financial authorities.

Stop Life-wasting-killing, soul-destroying and financially-crazy-wasting, health-destroying population control programs in the Philippines . Millions to billions of money for many years for immoral and life-killing population control program have been a colossal wastage of money, a form of outstanding and pernicious financial insanity. Money could be used otherwise to save millions (15 Million) identified poor Filipino families, children, sick, aged, disabled and homeless Filipinos in the countryside groaning and moaning in poverty and financial hemorrhage daily. And what is also ironic is that rich-nations are munificently funding population control programs in the Philippines just like in other third world nations, and certainly by the methods of contraceptives and abortion, they are killing the innocent unborn children and the poor mothers, and if alive, suffering tremendous side-effects in lifetime miseries. Money, as willed by God, must be used for life and for good as one of the surest ways to curing poverty in the Philippines and in the whole world. Abortion and contraception are twin evils. Stop it all! Poverty cannot be remedied by killing the unborn and by artificially controlling the population. Culture of death and injustice are about miseries and reaching out to hell. STOP ABORTION! STOP POPULATION CONTROL PROGRAM! STOP WASTAGE OF MONEY! STOP FINANCIAL-ECONOMIC INJUSTICE TO THE POOR AND THE NEEDY! PROMOTE LIFE, TRUTH, CHARITY, JUSTICE, PEACE, AND ABOVE ALL REMAIN IN THE DIVINE GRACE OF GOD FOR OUR EVERLASTING DESTINY. Bear in mind that “GOD IS THE ONE WHO MADE ALL THINGS, AND ALL THINGS ARE FOR HIS GLORY. HE WANTED TO HAVE MANY CHILDREN SHARE HIS GLORY.” Hebrews 2:10a (NCV). And “SEE HOW VERY MUCH OUR HEAVENLY FATHER LOVES US, FOR HE ALLOWS US TO BE CALLED HIS CHILDREN, AND WE REALLY ARE!” – 1 John 3:1 (NLT)

Financial – Economic Security Or Financial – Economic Bill of Rights For The Poor Filipino families In The Form of Supplementary Basic Income/Financial Family Subsidy/Permanent Tax Credit/Family’s Extra Income or Family’s Pension or Family Dividend Program.

ANOTHER PRAGMATIC SOLUTIONS:

TO SOLVE THE PROBLEM OF HUNGER AND FOOD SHORTAGE IN THE PHILIPPINES , I have the following proposals before it could be totally catastrophic.

1. STOP PAYMENT OF INTEREST to foreign debts

2. Stop borrowing

3. Create our own money debt free

4. Distribute extra basic income or supplementary basic income or citizen's income to every citizen

5. Stop excessive exportation of Philippine products

6. Prioritize agricultural or farming development in the villages and in the countryside

7. Provide annual subsidy to the poor farming families for local development

8. Allow groups of families or communities or assist them to have their own local community currency without any barriers or hindrances

9. The national peso currency must be raise its value and prices of basic needs down.

10. Reduce if not abolish too much political parties that divide peoples.

11. Filipinos must unite for the common good.

12. Reduce the level of brain drain.

Filipino Family Poverty is a long-standing cruelty and financial hemorrhage, a disaster. This kind of poverty in the sense of family destitution is not the will of God. Family life should not be miserable caused by the present financial-economic/anti-life system and policies and the heavy-duty evils of population control program. But there is a solution to rebuild and strengthen the family life in support to Church’s spiritual and moral support. Above all, family needs spiritual and moral life as well as education but it must be secured by financial-economic-social security for temporal survival. And here I propose for almost 10 years now that FAMILY SUPPLEMENTARY BASIC INCOME or Financial Family Subsidy to help save poor families and prevent further poverty . In this present world where money is a necessity for survival, having no money means death of the family like what is presently happening in the Philippine countryside without any aid from the National Government or local government nor any assistance from the global economy. The only insane assistance being presently distributed to the Filipino families is CONTRACEPTIVES AND ABORTIFACIENTS-that only disastrously aggravate the family dismal situation leading to terrible side-effects of diseases and death.

“IMMEDIATELY WE ARE CONFRONTED BY THE GREAT POVERTY OF MOST FILIPINO FAMILIES, UNABLE TO GAIN ACCESS TO THE BENEFITS OF DEVELOPMENTS SUCH AS HEALTH AND EDUCATION. BECAUSE OF POVERTY FAMILIES BREAK UP, AS MEMBERS LOOK FOR WORK IN OTHER COUNTRIES (7 Million Filipinos working overseas and more than 5,000 Filipinos are going abroad everyday in search of work and fortune for the survival of their families in the Philippines ). WOMEN AND CHILDREN ARE FORCED BY POVERTY TO WORK BEYOND THEIR PHYSICAL CAPABILITIES AND EVEN ENTER THE DARK DENS OF FLESH TRADE.” (cf. Pope John Paul II, Message of Lent, 1994. “INJUSTICE IN OUR ECONOMIC STRUCTURES THAT FAVOR THE BETTER OFF SECTORS OF SOCIETY CAUSE MUCH OF THIS POVERTY.” (PCP II, pp. 276-277).

Therefore, the only solution to help save Filipino poor families is to demand Family Subsidy or Tax Credit or Supplementary Family Income in the amount of $200 (P10,000 more or less) per month a form of financial-economic security. This is urgent to save poor families and children in the jaws of death of poverty. Family Tax Credit must be without discrimination, unconditional or without means test to the poor families. It should not be interpreted as a kind of dole-out but it is a right, a share of the abundance of the country’s progress as every family or every member of the family is a co-heir, co-capitalist and co-contributor of the country progress. And therefore must have a share of the wealth of the nation in the form of family tax credit not only because of citizenship but a human being created in the image and likeness of God. God gives the abundance of this earth for free for us to use and share according to His Commandments. And to apply this basic principle in the modern world where poverty and economic injustice, per se, monetary injustice exist in the paradox of plenty, there must be money as economic security guaranteed for life to all poor Filipino families.

THE PROBLEM: NO MONEY FOR SUCH FILIPINO SUBSIDY?

This is an outmoded question. The Philippine resources are more than enough to feed the entire Filipino population if only there is enough purchasing power. The problem is not the lack of good, is not the lack of Divine Providence , but the lack of justice and charity or some quarter, the absence of justice and charity. There is no any valid reason for any Filipino family to go hungry in the Philippines . Globally there is no shortage of money nor locally only if money is not controlled by the banking system. The government says no money for the poor families. Many economists and people say there is no money for the poor families. Then, why is it millions to billions of money for years are wasted for life-killing population control programs? Why is it BILLIONS OF DOLLARS are prioritized to pay interest to International Bankers on which the country has paid more than enough for many cruel years at the cost of human life and destruction of our morality, culture and environment? MUST WE ALLOW THE DEATH OF THE FILIPINO FAMILIES AND STARVATION OF OUR CHILDREN JUST TO SATISFY PAYMENTS OF INTEREST TO GLOBAL FINANCIAL MAFIA AND MANIPULATORS? Hundreds to billions to trillions of money are circulating daily in the whole world but only for the benefit of the bankers, multinational corporations, tycoons and for evil purposes like pornography, drug and sex trafficking in the world.

Why do UNPFA and USAID and other organizations, agencies and individuals have plenty of money for abortion industry, for controlling the population by means of chemical methods? And yet there is no any money provided for the poor families in the quagmire of dreadful poverty.

Philippine government has no any subsidy for agriculture or has cut down in the past due to pressures from WESTERN GOVERNMENTS THAT WANT US TO RELY ON THEM for our food needs, under the guise of "globalization". Philippines has once exported rice but now in dire need to import rice. Our government officials are so blinded by neocolonial patronage that they can't see the effects of imports just dollar revenues for payments of interest and for neglecting local farming and agriculture. So our Filipino people are starving.

The debt money system is the major culprit and responsible for this worsening mess in the country. DEBT free money creation and the restoration to organic farming from the debt-free finance of the government are of the solutions to prevent hunger. Globalization and debt-fuelled economy are driving us crazy and hungry.

THERE IS NO POINT TO PAY THE DEBTS TO IMF AND WB BOTH INTEREST AND THE CAPITAL. The country has paid more than too much. Better to kill us before doing that.

ANIMAL SUBSIDY BUT NOTHING FOR POOR HUMAN FAMILIES

It looks like unfair that US and EU subsidize their cows at $2 per day, more than what human being in the Philippines and in many parts of the world earn in a day. In a newspaper reports of an article by Hamish McRae wrote that EU subsidy for each of its cows is $913.00-which is greater than the average income per head of the most Filipino families. The Japanese subsidy is $2,700.00 per cow. And reportedly to support the US American cotton farmers, the US government spends $4 BILLION a year of subsidies, which is greater than the value of the cotton itself.

Well, I am not also unfair and I do not say that we should not at all subsidize the animals as animals are also created and provided by God for our good. But the logic is that if animal subsidy is possible financially, WHY FAMILY SUBSDIDY FOR THE POOR IS NOT ALSO POSSIBLE LIKEWISE? Why is it that permanent US tax credit to family and children in the US is not also possible? And why Filipino Family Subsidy is not possible when there are plenty of money for contraceptives and abortion, for payments of interest and corruptions? It might be good that in US and EU have subsidy to the farmers and to animals but there should be for life and for the family. I have read that in Alaska, a US territory, the residents receive a Citizen’s Income, that is, dividend to every Alaskan member of the Family annually and also in Holland where pensioners received a Citizen’s Pension and in Romania where there is a Government Family Subsidy to low-income Romanian families. And reportedly this economic security to the citizens is intended to prevent and even gradually cure poverty. In the UK , there are also so-called Family Supplemental Income and in the Republic of Ireland as well and probably in other countries having similar policy existing for the better financial-economic security of poor families.

Family subsidy or supplementary basic income to family can reduce and even replace all other unnecessary subsidies-that do not work for the citizens. In the Philippines , there is no any form of subsidy to the poor Filipino farmers and their families. All over the Philippines , farming without any assistance from the government is dying as a way of modern life; many farms are untilled, awaiting conversions to non-agricultural uses. It is good in EU and US, farmers are organized well to mount a strong lobby to defend and protect their interests. Rich nations continue to support the costly operations of their farmers through huge price-distorting subsidies and tariff walls against cheaper imports. In the Philippines , the situation is the opposite. More than 20 Million Filipino farmers and their families are suffering terrible poverty, disabilities, injustice and hunger. WTO is not for the poor farmers in the poor countries for the protection of agricultural products of the rich nations. There is injustice in this trade liberalization disastrously affecting the poor farmers and their families especially the innocent children.

Eric V. Encina

Filipino Social Crediter/Monetary Reformer

ericencina@yahoo.c

Food Crisis And The Financial System

Because of the worsening food crisis in the Philippines and as aggravated by deeply entrenched financial-economic crisis and nasty-muddy politics under the present debt money system, poor Filipino families, men, women, fathers, mothers, children are lining up for foods  from  government small subsidy in most Philippine provinces and mostly in the capital region of Metro Manila.

The shortage of local Filipino rice and the costly price of imported price of Vietnam and Thailand rice, and the increasing cost production or price of bread, is devastating to poor Filipino families that gets them deeper in the dungeon of poverty and despair.

This is the Penalty and or a repercussion of the prioritizing the payment of interest to IMF and WB for 33 years; a penalty for neglecting the Philippine agricultural or farming system and for giving priority to GMO multinational's chemically-based farming. This is also the penalty of EXPORTING rice and best food products of the country to foreign markets and or to world markets to earn FOREIGN CURRENCIES particularly in US$ to pay interest to foreign/bilateral and multilateral debts that are mostly odious and unrepayable. We have come to the point that the country has paid more than too much that nations debts  in now in TRILLION OF PESOS and going on at the cost of human life, simultaneously life-soul-destroying for successive generations including the unborn.

TO SOLVE THE PROBLEM OF HUNGER AND FOOD SHORTAGE IN THE PHILIPPINES, I have the following proposals before it could be totally catastrophic.

1. STOP PAYMENT OF INTEREST to foreign debts

2. Stop borrowing

3. Create our own money debt free

4. Distribute extra basic income or supplementary basic income or citizen's income to every citizen

5. Stop excessive exportation of Philippine products

6. Prioritize agricultural or farming development in the villages and in the countryside

7. Provide annual subsidy to the poor farming families for local development

8. Allow groups of families or communities or assist them to have their own local community currency without any barriers or hindrances

9. The national peso currency must be raise its value and prices of basic needs down.

10. Reduce if not abolish too much political parties that divide peoples.

11. Filipinos must unite for the common good.

12. Reduce the level of brain drain.

Things are so serious and we have to think constructively and positively for our country.

We need to be more well-able to address the problems if we will introduce, legislate and implement  Monetary Reform Scheme, Basic income or citizen's income  policy and proposal for monetary reform in the Philippines, then we can save Filipinos suffering hunger, poverty and insecurity.

I welcome comments.

Thank you.

                                           THE US AND THE IMF

                             Eric V. Encina

In the history of the foundation of the IMF, from its inception, it has been dominated by the interest and wishes of its largest member, the United States of America . In fact, there was an absolute dominance since then until 1956,  that decisions were made in favor of the US interest, effectively, by the US Secretary of the Treasury even to the point that the IMF's staff had no authority to negotiate conditions for drawing rights.

Even the European states or nations and Japan have become  more economically powerful in the 1980's, though the American dominance has declined relatively, but still there are no major decisions are taken againt the interest or strong wish of the United States . It is assumed that any official of the IMF who is not in line with the US foreign economic policies will be eventually forced to resign like what happened to the resignation, among others, of Piere-Paul Schweitzer as IMF Managing Director when the US Government said it did not have confidence anymore on him.

IMF controls third world nations but it is the major policies of the powerful rich nations that impose the structural economic policies that the IMF officials are constrained to implement lest they are in trouble with the government officials and leaders of these rich nation-investors.

As we know, the IMF Managing Director is by agreement and tradition always a European, and the President of teh WB is always an American. But the IMF's Deputy Managing Director has been an American since the Fund was created in 1949.

The IMF is managed or rather controledd by the member-nations paying annual subscriptions, and thus controlled  in proportion to the size of the member-nation quotas. PHILIPPINES IS PAYING US$500 Million subscription payment to IMF every 5th year. In reality despite of theoretical belief that IMF is controlled by all member-nations, it is rather and actually controlled firmly by the rich-nation members.

US QUOTA

When the IMF was inaugurated, the US quota was reportedly by far the largest and amounted to about 36% of the total, although it has declined to 23% through the periodic re-adjustments of quotas which have been made since then. The quota adjustment is decided by 80% majority but the US has the formal veto power over decisions.

The EU nations have been given a collective veto only by a new requirement of an 85% voting majority only for certain types of decisions but must be in line witht he US decisions, in terms of finance and economy, thus the quotas of the original six amount collectively to about 16% of the total.

In the past few years, the five members with the largest quotas were USA , UK , France , Germany and India - but not Japan . Each five member has appointed an executive director. Accordingly, the two countries whose currency has been most drawn from the IMF in the previous year has also have the right to appoint a director, if they are not already in the 'big five'.  The rest of the twenty-member Board are elected by combinations of countries and their votes are weighed according to the total of the countries electing them. Formal votes are usually avoided in the Executive Board, but everyone concerned has a good idea of each director's voting power, and how a vote, if taken, would turn out.

What is a paradox is that formal voting power is a less important factor in the IMF membership, but the US being recognized in economic and military powers and by virtue of the key role of the dollar and the sheer size of the country as importer and exporter obviously controls the voting power of the IMF major decisions.

The past international monetary crisis has shown that the IMF has no any power to impose any discipline on the US since the IMF is under US foreign economic policies and it has become only a reduced to a mere forum for negotiations.

The US Executive Director of IMF cannot cast his vote at his own discretion, but he is bound by law to accept instructions from the Secretary of Treasury. The IMF's subserviency to the US interest and wishes is underlined by the location of its headquarters in Washington, D.C., just a nearby place and just a phone call away from the top American officials monitoring and watching the move of the IMF.

ANOTHER PARADOX THE REPELS THE MIND OF HUMANITY:

The US is now the major debt country of the world, although it has benefitted massively from the IMF's resources, both through stand-by arrangements and by other means. But USA has never been subjected to any type of dictation of IMF which is imposed on the smaller indebted countries even including the UK . It seems to show that what is happening the world finance is a kind of tricky collusion of the USA to use IMF as a tool to get the world in debt while as a camouflage to make USA in debt likewise at the expenses of AMERICAN TAXPAYERS, but has the power of debt absorption and liquidation or even self-cancellation of debt while most member-nations are not permitted too by the signed protocols or cannot do so. This is a kind of self-inflicting economic tactic as a form of camouflage but his remains to be a sort of racketeering monetary tactics to keep the poor nation-members in the bondage of debt and DEPENDENCY to US foreign economic policies.

CONCLUSION  

The US is both a tricky creditor in camouflage, being the dominant member of the IMF, and the at the same time, as a debtor nation.

But the truth is: IMF HAS BEEN A MAJOR SOURCE OF FINANCE FOR THE US DEFICITS BOTH BUDGET AND TRADE DEFICITS. Based on the records or 1960 to 1967, the IMF financed 10% of the US deficit. In fact in 1964, the IMF has deliberately bent its rules which specified which currencies could be used in re-purchasing drawings, that is, in order to PROVIDE ADDITIONAL FINANCE TO THE US DEFICIT.

US is using monetary tactic gimmick through IMF facilities for its own advantage. It is a lie that IMF was set up to provide an international reserve of money to help nations with big deficits, bail out is not a kind of help, but a loan at interest that pressures poor nations. Hence, the truth is: the international reserve of money is US$ only goes to finance budget deficits for the benefits, not of the American citizens, but of the powerful US Federal Reserve System - of privately owned banks. So in practice, IMF methods make the matters worse: to make nations in calamitous debts.

But of course other rich-member-nations benefit likewise from the IMF, from the interest payments collected in HUNDREDS OF BILLIONS OF $ DOLLARS from the impoverished taxpaying peoples of the third world. Large of the IMF loans to third world nations flow back to the economies of the US and the wealtheir nations in the form of interest.

The most tricly thing is: IMF loans are money CREATED OUT OF NOTHING, called to be international fractional reserved system,  based on cash reserved pool from the membership subscription payments of many nation, around 180 nations,  and is primarilly provided by the Western rich nations, per se, currently, G-8 nations, that, also by camouflage and trickery, also go into debt to provide it, however in order to cover up the DEBT MONEY SYSTEM.

The repayment obligation including interest payments remains with the debtor nations of mostly poor nations but USA and the other rich countries though also hugely indebted have the power of making decisions to be absolved from debts. Most of the central banks of these rich nations under BIS in Switzerland are in collusion with the IMF in line with the economic policies of the USA .

The third world nations remains in the HORRORS OF DEBT and likewise the populations are suffering in acute financial-economic crisis, increasing taxes like the 12% EXPANDED VALUED ADDED TAX IN THE PHILIPPINES IMPOSED BY THE IMF, and actually covertly imposed by the US government, and now suffering deficits, inflationary pressures, devaluation of currency endlessly, dire poverty, hunger, malnutrition and unemployment of the poor inhabitants, breakdown of the family and social services, chaos, violence, bankruptcies and instigating rebellion.

The poor countries are pressured to export more products even at teh destruction of teh environmetn just to meet the interest payments t5o IMF, to WB and to other foreign and international banks in collusion thereby. 

The sums paid in interest over the years far exceed the amounts of the original loans themselves. IMPOVERISHED THIRD NATIONS AND POPULATIONS ALIKE have paid more than enough - and now in the VERITABLE ABYSS OF HUMAN AND THIRD DEGRADATION. 

It is proven that IMF and WB act as handmaiden of mainly US interest and wishes, and partly of the Western rich nations at the terrible expenses of the poor nations and inhabitants.

The only radica solution is to abolish IMF and WB. Each country must create its own money debt and interest free according to the proposals of MONETARY REFORM, and all economic freedom in turn will follow with justice to all humanity without the bondage of debt and interest, without monopoly, and in the economic democracy climate, there would be FINANCIAL-ECONOMIC SECURITY TO ALL from the cradle to the grave in the form of supplementary basic income.

We need debt free money creation for each nation, not membership to the IMF's tricky fund and policies manuevered and imposed by the US foreign policies.

Any comments, suggestions, criticism, opinions are welcome.

Eric V. Encina

ericencina@yahoo.com

Do you have any comments about the Puposes of the IMF?

Please let me know. Thanks.

The purposes of the International Monetary Fund are:

1. To promote international monetary cooperation through the permanent institution which provides for consultation and collaboration on international problems.

2. To facilitate the expression and balanced growth of international trade and to contribute thereby to the promotion and maintenance of high levels of employment and real income and the development of the productive resources of all members as primary objectivs of economic policy.

3. To promote exchange stability, to maintain orderly exchange arrangements among members and to avoid competitive exchange depreciation.

4. To assist in the establishment of a multilateral systm of payments in respect of current transactions between members and the elimination of foreign exchange restrictions which hamper the growth of world trade.

5. To give confidence to members bymaking the Fund's resources available to them under adequate safeguards, thus providing them with the opportunity to correct mal-adjustments in their balance of payments without resorting to measure destructive of national or international prosperity.

6. In accordance with the above to shorten the duration and lessen the degreee of disequilibrium in the international balances of payments of members.

(Martin Honeywell, E. A. Brett,Robert Carty, R. Andrew Nickson, Winston James, James Paionter, The Poverty Brokers: The IMF and Latin America (Great Britain, Russel Press, 1983) p. 17.

                                DRUG TRAFFICKING AND THE FINANCIERS

                                                         By Eric V. Encina

The governments in the world in fact is indeed wasting huge taxpayers' money to a campaign against drug trafficking that never likely ends, for this unproductive effort. Yes, here in the Philippines , according to the statistics there are almost 5 million Filipinos already hooked to illegal drug uses and addictions from marijuana to shabu to other non-prescribed drugs. And accordingly the total profits annually here in the Philippines are around P100 Billion or around US$2 Billion. In USA , I have read that drug addicts there are around 10 million Americans with the total profits of around US$500 Billion. Terrible indeed, the drug traffickers are earning so enormously, hair-raising for the destruction of human life, of young peoples, or our society.

I am also afraid to say that no matter how we do in educational campaign and awareness as long as there are FINANCIERS, and manufactures of drugs, and MAFIAMEN involved within the institutions, as oftentimes reported, and the laxity of the global government and international agencies like the United Nations’ Security Council where the rich nations are on the seats, we cannot totally eradicate this diabolic menace. It’s not enough to provide the budget and say words but we must have strong POLITICAL WILL with strong, uncompromised PUBLIC OUTCRY AND SUPPORT without rhetorical mumbo-jumbo political, military styles, WITHOUT PERSONAL INTEREST AND CHICANERIES OR ANY HIDDEN AGENDA. The major question is: HOW LONG MUST WE SUFFER UNDER THE CULTURE OF DEATH OF DRUG MENACE IN OUR SOCIETY? Must we wait that our children and will become bloodline of addicts before we will take concrete action? Where is our conscience? Are we insane or the system makes us insane?, I MUST TELL YOU THAT IT IS ALSO INDEED OBVIOUS THAT THE PRESENT defective FINANCIAL-ECONOMIC SYSTEM WHICH WE EMBRACE, PERPETUATES THE IMPERIALISM OF DRUG INDUSTRY. And sadly, the governments – their politicians and economists, businessmen and companies and even educational institutions are directly and indirectly or to some inadvertently responsible for this seemed to be everlasting problem on drug.

Eric V. Encina

IDEAS AND SKILLS FOR SURVIVAL UNDER CRAZY  CONDITIONS

                                                      By Eric V. Encina

We must    continue  to search for  ideas and skills to survive and thrive  even  under the crazy conditions we  have here today - if in fact that is physically and creatively  possible  we   must  continue to  discuss, campaign and present     how the community or our country  could be run more intelligently  through the introduction, legislation and implementation of monetary reform  proposals.  We  can’t do it alone. We  need help in the process.

The key to it all is that the "orthodox" economists  being advised, of course, by the greedy  bankers who are insatiably  making their money out of it,  cannot therefore  see  any way of creating the credit or money  on which the whole economy depends other than by borrowing more "imaginary" money at interest from the unjust  banking system - even when the banking system has to be propped up by a promise of funds which the government will have to borrow from that same banking system and then try and take from the taxpayers at increasing rate that cause inflationary pressures, constant  devaluation of currency and endless fiscal crisis or budgetary deficit.

Filipino people are suffering acute shortage of money in front of the increasing prices of basic needs and services. Large percentage of Filipino families are suffering hunger and in the quagmire of poverty in the countryside.

  Crazy indeed  - except for the bankers who only think profit without corresponding solidarity with the people in misery.

The answer is simply "That the nation that can print a Philippine Peso  bond can also  print a  Philippine Peso  bill." If it does, it doesn't have to pay interest or increase its national debt, and there will be money with the government so that taxes can be substantially  reduced, and Filipino  people will be able to buy anything they are  able to produce and so set the economy in good  motion and in balance.

 US Pres.  Abraham Lincoln did it  with Greenbacks. Venice did it for 600 years with "Giro money" contained in  account books by a state bank that had actually gone bankrupt.

There would have to be some control of the process, of course, so that we don't end up with the sort of inflation they have in Zimbabwe in Africa.

MY PROPOSAL TO  PHILIPPINE GOVERNMENT:

1. A Philippine  National Credit Office, to certify what is a desirable quantity of credit or money or Philippine Peso   to be created debt free and  in circulation at any time in the Philippines.

2. A State Bank of Issue or THE BANGKO CENTRAL NG PILIPINAS or Central Bank of the Philippines in collaboration with the Dept. of Finance with the endorsement of the Philippine President, Senate and the Congress , to create the money DEBT FREE  that the Philippine  economy  needs.

3. Control of private/foreign  banks, so that these pay the community for the use of  the public credit if they "create money out of thin air". This could be done by some form of taxation on such bank money creation, in return for a government guarantee against bank failure.

4. Philippine debts to international lenders/international banks  will be repaid in Philippine currency through debt free money creation convertible to US $ dollars or to other foreign currencies by banking mechanism. However, "Odious debts" must  be totally  repudiated because these are unnecessary burden.

5. Possibly a "new deal" of a basic amount of new money or Peso Cash  to every Filipino  citizen or family regularly or monthly or annually given like in Alaska or Kuwait and to other countries,  and also similar to the new currencies introduced in Germany and Belgium following World War II.

THE POWERFUL  INSTITUTIONS THAT ENCROACH AND PREVENT THIS PROPOSAL  TO HAPPEN:

I am aware that IMF, WB, BIS and other international banks that Philippines is in huge  debt put all the encroaching and preventive measures not make the PORPOSALS  possible.

But if monetary reform proposal   is given the chance  to be legislated and implemented in the Philippines, I think,  likely and progressively,   this  would give a basic new beginning or re-building  to Philippine Economy and to Filipino people for sustainable living survival with financial security  without being dependent to foreign debt and aid.

Eric V. Encina

Filipino Social Crediter/Monetary Reformer

ericencina@yahoo.com

MY NEW PROJECT FOR January 2009 under study:

Entrepreneurial Growth Strategy and Sustainability Program

(ENGROSS)

Enterprise Plan Format

(Subject For Revision)

BUSINESS PLAN OF ERIC V. ENCINA

FOR SUBMISSION ON  NOVEMBER 29, 2008

1. Overview / Summary

A.      Type of Business:   Corporation

B.        Name of Enterprise/Company:  FILIPINO   CREDIT UNION, INC. (FIL-CRED)

A BRIGHTER FUTURE THROUGH INNOVATIVE ECONOMIC DEVELOPMENT AND BUSINESS SUSTAINABILITY FOR ALL FILIPINO ENTREPRENEURS.

Motto:”FIL-CRED  is a transparent  window to the future of alternative business  paradigm of unique  financial architecture   that allows Filipino  people particularly those engaged in business  to become creative and credible entrepreneurs,  to be economically and  financially empowered and accountable, to effectively  control, manage, regulate and monetize  our  own credit (money)  for economic democracy and sustainable living,  security and prosperity”. – Eric V. Encina – Founder/Chairman/President/Director

C.      Product / Service: Filipino Profitable Company of   Small-based Savings and  Low-Interest loans  To  Members With  Self-help And  Initiatives With Convertibility To Local/Alternative/Complementary  Currency Scheme: Manila Peso/Manila Dollar (MP/M$.

D.    Objectives of FIL-CRED: To set up the system for alternative and ethical  capitalism for Filipino entrepreneurs using variable or conventional and alternative   currencies from debt free sources  that would lead us to achieve fully-fledged solution and thus give us economic security and business progress with inflation-proof and safety nets.    The major  problem of  today is not of the lack of basic or major  products and or services  in the present  age of plenty as evidences  through technological efficiency and productivity increasing exponentially,  but evidently  the lack or dearth  of money, lack of reliable  credit or lack of financial resources, bereft of enough consumer credits,  and notably the restriction of bank credits, and aggravated by  the lack of the value of money and fluctuation of our national currency  in front of the rising prices of basic needs and services. We identified the real problems  and this is the general  solution.  This is the right time to set up and establish this kind of credit union with convertibility to local/alternative/complementary currency scheme,  to have available funds from the investment contributions of the members in formal and business  mutual agreement.  The major objective of the  FILIPINO CREDIT UNION, INC.(FIL-CRED)  is to serve, empower, shore up,  and augment  the  financial needs of its individual Filipino  members: professionals and non-professionals working at the white and blue collar jobs to become financial product entrepreneurs,  and to be able build financial structure(s)  with safety nets and alternatives for the long-term with ongoing advancement and improvement.   It  will be formally  organized  on a democratic basis, with power of ultimate decisions residing in the membership. Our company is  based on certain fundamental principles; among them: solidarity, compassionate  service, equality,  democracy, transparency and brotherhood.  We are  having a common bond to be  created for the purpose of promoting thriftiness  and austerity  through convenient systematic savings, and provide a quick, economical source of dignified and confidential credit. 

FIL-CRED   will do its best to maintain its status as a  debt-free,  modestly profit-based company  to any   bank loans or to any government lending institutions. The company shall have  resourced-intensive tools to thrive and survive without loans from the financial elites.   The company may or shall avail services or forge any protocol  from any government institutions that offer strategic, technical, innovative and other alternative trainings in line with our mission and objectives,  projects and operation for the improvement and success of the company and the members.

E.     Background of FIL-CRED:     This  profit-based  credit union Filipino company with the unique  approach to progress to new science of business economics and future local/alternative/complementary currency scheme    would focus on sustainable ways and means for the long-term  to providing financial services to individual members in a unique and innovative way which   is based on a philosophy of "People Helping People”.  FIL-CRED  members will  pool  their savings plus back up capital from grants or loans from individuals or organizations or foundations or companies  to provide low interest  loans to members and distressed member- consumers  being constantly   hurt by  financial-economic crisis, instability,  insolvency or bankruptcy.  This scheme will help  the members to find alternative financial resources in such a way  to   avoid paying the high rates and penalties  being charged by despotic  loan sharks,  unethically and   greedy financial institutions  and the commercial banks in the country.

Filipino  Credit Union, Inc.  (FIL-CRED)  member-investors will be  part-owners of our company. We shall have to follow the general  principle of "once a member, always a member," that means, any individual member cannot be dismembered against his/her will without due process and legitimate reasons.

However, if an individual  member voluntarily terminates at his/her own will and personal reasons,   his/her  membership to our company, he/she may or may not be eligible to rejoin,  but depending on official decision or general members’ decision  or as voted by the majority or any mutually agreed  policies and or  (government regulations – optional).

 Each member has one vote regardless of their account size or investment. Since our  credit union  is  democratically controlled,  our members can or may  run for election to the volunteer board of directors or trustees  having direct input on credit union operations.

We share or will  share common bonds and common interests and objectives.  We must  have common bonds based mostly on  blue or white collar jobs and occupations, government service, associations, churches or service providers.  This credit union shall not be directly controlled by the Government institutions. FIL-CRED members are law-abiding citizens but with freedom of speech and rights to protect our company from any forms  of political, economic and financial imposition,   intimidation, blackmail, speculation  and harassment. 

2. Market

A.      What Product/s / Service to Sell/Provide:  Savings & Lending Scheme/Manila Peso or Manila Dollar Local/Alternative/Complementary Currency (MP/M$).

B.        Target Market:

Ø  Target Area of coverage:  Only in  Metro Manila with the target nationwide coverage operations in the future subject to members decision and discretion through the formal act of board resolution.

Ø  Target Consumers / Customers: Blue and White collar workers,  community and  home-based  business men and women, investors, organic farmers (no chemically-based farmers),  inter-faith church members and other self-employed peoples. Under-employed or unemployed shall be also accepted at the discretion of the officers and members. The unemployed and or under-employed members  can be also potentially successful  once they are given chance to provide loans either or both local/alternative/complementary currency or national currency at their own option and possibility   based on their  one-time-off investment contribution.

Ø   

C.      Demand and Supply Study:

Ø  Potential demand of Product / Service:  In view of the present and almost endless financial crisis and the perennial  credit crunch, lack of financial capital for entrepreneurial activities and lack of financial-economic  security, there will be a great demand for union both in local/alternative/complementary currency and the national Peso currency , peoples  will join to FIL-CRED  to save money and borrow money at low interest rate without hard assets  collateral, in a innovative way and scheme.

Ø  Identified Competitors: Loan sharks, financial and commercial  banking institutions and individual lenders. The company discourages cut-throat competition. We do not need too much competition but only cooperation.

Ø   

D.       Projected Sales/Memberships per Month: Monthly Qouta   Twenty (20) members per month to invest P20,000 (Twenty Thousand Pesos  each)or $500   convertible to Local/Alternative/Complementary Currency. This is on process for designing a mechanism for simultaneous implementation.

Computation:

Objective To Find Member-Investors: Every Month = 20 investor-members:  20 x P20,000 = P400,000

Foreign Currency computations:

                                                                 20 x $500      = $   10,000

Ø  In Pesos:   P400,000 (Four Hundred Thousand Pesos) or $10,000  Memberships Pooled Capital monthly

Ø  In Volume:  P4,800,000.00  (Four Million & Eight Hundred Thousands) or   $120,000.

Annual Computation:

12 Months x 20 member-investors = 240 member-investors.

240 member-investors x P20,000 = P4,800,000.000 or $120,000

Foreign Currency Computation:

240 member-investors x $500 = $120,000.0

E.        Selling Strategy:

Ø  how you intend to sell your product / service:

Ø   

Filipino  Credit Union, Inc. (FIL-CRED) potential  members after seminars or presentation and  upon filling out the Membership and Account Application Form with Terms and Conditions   will therefore  pledge a membership fund of prudently   one-time-off  capital amount  of   P20,000 (Twenty Thousand Pesos) or $500, also as individual savings investment  to start  the credit union operation.

There are three  kinds of Membership Option For Investments:

1. First Class Membership with the investment of one-time-off P20,000 or $500

2. Second Class Membership with the one-time-off investment of P500 or $10

3. Third Class Membership in the form of material contribution, in kinds, tangible properties convertible to money both in the national currency or in local currency.

(Option: FIL-CRED Membership has the option of   a one-time entrance fee of P500 or  $10  and at least one share at a par value of P500 or  $10, for a total cost of P1,000 or  $20.

Each FIL-CRED member has the initiative to invite for potential members. The more we invite others to join, the more we can pool financial resources for revolving operations and the more we can establish strength and security.

FIL-CREDIT may be  chartered in the possible  future, depending upon the decision of the majority members  to  the APPROPRIATE Philippine  GOVERNMENT AGENCY, however, to a very limited  extent.  We will be insured to Philippine Deposit Insurance Corporation or PDIC and we must have  our own  certificate of insurance for the security of the members and the  investors.

Each contribution  would be put    to savings  in a reputable ethically and environmentally-based  banking institution like GREEN BANK  and then use the  money that is convertible to local/alternative/complementary currency: Manila Peso or Manila Dollar in a revolving scheme  to  provide loans to each other at  agreeable  low interest rates at official agreed and at certain period of time.   When individual  members save and borrow,  the members will  do so with the confidence that our  credit union operates only for our own  benefit, that all earnings that will  derive from our  credit union services and operation will be returned to us  in higher dividends to be distributed monthly or annually, lower loan costs, and better benefits and for the good of the community.

F.        Marketing / Advertising / Promotion Expense: Professional and honest  person to person talks, Invite Right peoples for Potential Members among the neighborhoods in the communities within Metro Manila only but may  also  be open to other Filipinos in the provinces with residential houses in Metro Manila. Hold seminar, people’s forum, seminars,  and presentation  to educate the peoples about the advantages of the credit union membership to their  survival and livelihoods as alternative methods.  Use the communication tools such as directories for sending  promo information via  postal  mails and or sending  electronic mails promo information and  if possible with well constructed  website in English and in Filipino language or dialects  for others to join by filling out online form and by directly sending their membership  capital to our  accounts with automatic printable receipts for the new members.  There shall also be a provision of online log-in with user I.D. and their own passwords   to check members capital and their borrowings, news and updates,  etc. Also use local/national radio and television networks for promotion and campaigns.

3. Operations

A.      Technical Product/Service  Description:   Each member shall have records of transactions with their receipt of  investment membership, with free  online check.  Upon and when joining, any potential member The new members will  fill-in the  format of the application form  to enter the  membership and account information with complete  signatures. The board of directors shall be assigned to look after the general policy of the company. The credit committee or the credit union lending and approval department/team shall also be assigned to approve loans, and a supervisory committee to examine the books regularly and see that all was in order. We might need some sort of structure of that type for comprehensive operation. We will have one secretary and one treasurer who will receive a honorarium for his/her work, and will keep the books, but most of the rest of the work will be done by voluntary labor for the time being. There is one selling point we might develop – the opportunity of member-investors to trade products and exchange services with each other, without having to make use of “official” money, that is our national currency, Philippine Peso. We can have our own LOCAL CURRENCY MANILA PESO OR MANILA DOLLAR. This might permit some useful and necessary tax avoidance, not because we will not actually pay taxes due to the government but we have to be sustainable and secured first before we prioritize the financial needs of the government. Money is put to wastage by the government because of misused of funds, corruptions and the general bondage of interest payments to foreign loans. There are also various exchange systems already in use on the Internet that we can take a look for reference. By trying into these, we might give more scope for the use of our credit, funds, investments by members. We have outlined this proposal, hopefully, worthy of discussion. The question will always be, how the initial set-up costs can be covered? It can be amazing how much can be achieved by motivated members and investors and volunteers without much expenditures of funds. We can likely find suitable accounting software available for free on the internet or buy one for our useful and profitable reference.

Office Hours:

Monday-Friday 8:00 A.M. – 4:30 P.M.Saturday & Sunday  CLOSED