US Economy is a National Security Crisis: 'US Needs to Raise $6 Trillion and It is Simple,' Says Visionary William Glynn
Right now, China, Russia, India and Saudi Arabia basically own the United States. Our economy is the real target of terrorists and this is our potential downfall," says Glynn. His solution is transparent and uncomplicated... a 10% solution. "If we are to prevent another Great Depression we need to pass one simple law: All pension plans, endowments, 401(k)s and the like will be required to allocate 10% of their portfolios to buy back U.S. debt and currency.
Atlanta, GA (PRWEB) June 6, 2008 -- According to Bill Glynn, the founder and Managing Director of Collective IQ www.collectiveiq.com, ranked the #1 Corporate Venture Capital Platform in the world, and author of "Left on Red" www.billyg.net the real terrorist threat to America does not come in the form of a suicide bomber or from Islamic extremists. Rather, the Achilles Heel of the United States is our economy. According to Glynn, in the aftermath of September 11th almost a trillion dollars was wiped out of the economy, and we are still reeling as a result of it.
"Right now, China, Russia, India and Saudi Arabia basically own the United States. Our economy is the real target of terrorists and this is our potential downfall," says Glynn. His solution is transparent and uncomplicated... a 10% solution. "If we are to prevent another Great Depression we need to pass one simple law: All pension plans, endowments, 401(k)s and the like will be required to allocate 10% of their portfolios to buy back U.S. debt and currency."
With more than 40 trillion dollars currently invested in these types of accounts, Glynn asserts that some four trillion dollars could be freed up in a matter of days to wipe out the national debt, buy back the $1.6 trillion in U.S. debt currently owned by China and more. He suggests that approximately one trillion dollars go into a 10-year Zero Coupon Bond with the proceeds ultimately going back to the endowments and pension plans. "Rather than seeing this as simply giving money back to the government, it's really a 10-year interest-free loan that has incredible benefits," he explains.
He believes the immediate increase in world confidence with respect to the United States, the anticipated rise in the value of the U.S. dollar, as well as the boost to the overall economy would have far reaching and dramatic impact on equity prices. "In the very near term, the 10% allocation would almost undoubtedly be offset by a corresponding increase in the value of the remaining assets in these portfolios," Glynn continues.
If this law was enacted there would certainly be resistance at first. However, Glynn confidently predicts and openly challenges anyone to refute that there would be a massive uptick in U.S. and world markets if the National Debt were paid off. "It would cause one of the county's biggest celebrations: Liberation Day! The day the U.S. took back its economic leadership before it is squandered. This plan is so simple and powerful - I would be willing to debate any politician, pundit, talk show host or Presidential candidate on its validity," Glynn says.
Glynn believes that we should be a nation of savers, not borrowers. He is also calling for an increase in the minimum wage and for 5% of all wages (up to $50,000) to be placed into low-interest bearing "deficit or economy bonds." "This would create another account with a surplus of trillions of dollars that could be used to funnel money back into the economy for infrastructure, social security, health care and more. It would put America back into the hands of Americans... not foreign entities or governments," he concludes.
About Collective IQ:
Collective IQ is a Global Asset Management and Advisory Firm focused exclusively on Corporate Venture Capital. In 2007, CIQ was ranked the top corporate venture platform by the leadership of the Strategic Venture Association.
Collective IQ is supported by one of the world's largest asset management companies with US$ 600 billion under management. CIQ works on behalf of its investors and corporate partners to deliver superior returns and to commercialize disruptive technologies.
About the Book "Left on Red : How to Ignite, Leverage and Build Visionary Organizations"
Venture capitalist Bill Glynn (Billy G), ranked one of the world's top innovators by Information Week magazine, presents an insider's view of the way great businesses are built.
"Left on Red" www.amazon.com reveals how visionary thinkers and risk-takers build great companies. Bill Glynn provides an insider's view into some of the world's coolest deals in a refreshingly politically incorrect, intelligent manner. Google, Apple, and YouTube are the products of leaders who break the old rules of business to bring their radical ideas to life. Armed with a wealth of examples and innovative insights, Glynn shows entrepreneurs and executives how to navigate a business landscape often littered with great ideas and innovators who are unprepared to lead.
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