A New Economic System: Guide to Debt Elimination and Wealth Creation

About the Book

The masses of human-beings on earth are struggling and suffering with poverty because the financial system of Capitalism is a pyramidal structure based upon "divide and conquer" that permits the top 5% to become wealthy at the expense of 95% of the masses of people thereby creating a working poor middle class and a permanent underclass through trickledown economics and debt accumulation. Conversely, Karl Marx's financial system of Socialism (Communism) redistributes wealth equally among the members of Society and eradicates poverty, but puts a ceiling on the amount of Wealth and Prosperity of its citizens; and does not eliminate debt for all of humanity. Furthermore, the financial system of Capitalistic-Socialism permits certain members of Society to become Wealthy, yet some of this wealth is also distributed among the less fortunate through the taxation of the wealthy, but this still does not create total wealth and prosperity and elimination of debt for all of humanity.

About the Author

My name is Yusef Rashid DeLaine and I was born in Los Angeles-Hollywood, California of the United States of America. I am 47 years of age; and I grew up in New England Connecticut most of my life. I graduated from Trinity College of Hartford, Connecticut, in 1997 with a Bachelor’s of Arts degree in Philosophy/Legal Studies; and studied Philosophy at Oxford University, Trinity Term in 1996. Concurrently, my examination of money as it pertains to the Financial systems of the world has force me to question, how is it that very few in the world are wealthy and many are poor; yet the poor are saddled down with debt obligations and the wealthy have great abundance and surplus? My evaluation, given the limitations of a market-resource-value based economy based on supply and demand, is that one man’s debt is another man’s asset which substantiates the proverbial axiom “the borrower is the slave to the lender.” Consequently, if debt serves as both an asset and liability, then money and debt are two different sides of the same coin. Moreover, if you were to eliminate debt, logically you can conclude that the value of money would increase individually. However, as a Society, the value of money would actually decrease because one man’s debt is another man’s money. Be that as it may, if members of Society collectively pooled their money through compound interest, they can eliminate debt individually and create wealth collectively to offset debt individually. Ironically, this would place constraints on the viability of supply and demand of a market-resource-value based economy and create scarcity on some level. Hence, caveat; this will cause members of Society to create new markets of supply to meet the demands of the human species as we evolve and to sustain an operational financial system.