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What's the Inform Act?

 
Anonymous Coward
User ID: 42624102
Canada
12/23/2013 12:08 AM
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What's the Inform Act?
Something about 15 nobel econimists and congress.. what did they say? why is it important? why aren't we informed?
[link to theinformact.org]

They trying to push this for an IMF Global Currency Reset, via Christine Legarde of the IMF?

Seems maybe this is just a precursor to me, for justifying why Obama will soon say its a good thing that the American dollar will lose it global reserve currency status in 2014 (the Ides of march), and will be revalued lower. Then inflation will set in much higher as the months roll by, and pretty soon gas will skyrocket, followed by food.
Anonymous Coward (OP)
User ID: 42624102
Canada
12/23/2013 12:11 AM
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Re: What's the Inform Act?
Anonymous Coward (OP)
User ID: 42624102
Canada
12/23/2013 12:13 AM
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Re: What's the Inform Act?
I don't know about you guys, but I'm suspicious of any government that tries to do anything right... Trojan Horse?
Anonymous Coward (OP)
User ID: 42624102
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12/23/2013 12:14 AM
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Anonymous Coward (OP)
User ID: 42624102
Canada
12/23/2013 12:16 AM
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Re: What's the Inform Act?
Taxing Times. 2013. International Monetary Fund.
[link to www.imf.org]

Watch for the IMF doing a currency reset in 2014.
Anonymous Coward (OP)
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12/23/2013 12:22 AM
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Re: What's the Inform Act?
Well as usual I don't know what I'm talking about. Try connecting the dots? Probably not able to. LOL.

The Inform Act looks good, but..... It just feels like your doctor told you that your going to die in an hour. It doesn't exactly help, or does it?
Anonymous Coward (OP)
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12/23/2013 12:50 AM
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Re: What's the Inform Act?
Eric Sprott: Inform Act - Markets at a Glance - Dec 2013

Thanks to Boston University’s Larry Kotlikoff, it now seems like the U.S. might be getting closer to acknowledging that it has a serious fiscal problem; or at least this is what one might infer from the strong support from Congressmen and Senators from both sides of the aisle, as well as from fifteen Nobel Laureates in Economics (see Figure 2 for a complete list) and thousands of business leaders and economists from all stripes, for a new bill called the Intergenerational Financial Obligations Reform Act or “Inform Act”.

We find it appalling that, while some of the world’s brightest economists consider this an issue of paramount importance, notwithstanding its introduction to the Senate and the House, the “Inform Act” completely flew under the radar of the mainstream media. Hopefully, if this becomes law, it will not be possible for people to keep their head in the sand on fiscal responsibility.

The “Inform Act” is a bi-partisan bill that was introduced in the Senate and that will be introduced shortly in the House of Representatives that would require the “Congressional Budget Office (CBO), the General Accountability Office (GAO), and the Office of Management and Budget (OMB) to do fiscal gap accounting and generational accounting on an annual basis and, upon request by Congress, to use these accounting methods to evaluate major proposed changes in fiscal legislation.”1 In other words, it would require the U.S. government to evaluate its budget deficit by estimating the net present value of all its future payments and receipts, instead of arbitrarily deciding which items make it to the budget or not, as is currently the case. Thus, fiscal gap accounting would better represent the present and future liabilities of the government to its citizens and, as the thinking goes, allow for better decision making.

[link to www.sprottmoney.com] (supra)

Less than 50% of article posted. More like 25% or whatever.
Anonymous Coward (OP)
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12/23/2013 10:48 AM
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Re: What's the Inform Act?
I still cant figure it out.. what is it? Help!

angryface

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