There are two ideas to this policy.
The first is to forgive the Federal Reserve Debt owed by the people to the Federal Reserve. In 2008, Banks were forgiven (bailed out) for their egregious financial follies in a move called ‘too big to fail’.
The largest financial system in the United States is the Federal Reserve, which is supposed to serve we the people. As citizens, we now owe the Federal Reserve so much, that we are nearing a point of no return on interest payments.
In fact, the interest payments are so high, that we are near to default, as our revenues are not nearly enough to keep up with our payments anymore. In fact, we are nearing insolvency.
As the US is too big to fail, it is clear that it is time to reset this debt, so that we, as a nation, do not default.
The primary benefactors in the financial system over the last 100 years has been the banks which have steered the Federal Reserve.
Inventing such concepts as Reverse Repurchase Agreements and myriad clever devices to keep banks alive, the Federal Reserve clearly does not serve the interest of the people, it serves the interest of the banks.
Therefore, the second facet of this policy is to institute a new type of capital gains tax on financial institutions. This is not limited to banks, but includes such entities as Hedge Funds and other players in the derivatives markets, which all profited nicely on the bailouts of 2008, inflation and subsequent financial incentives brought on by the Federal Reserve and it’s cohorts in Congress.
This new capital gains tax is specifically levied on purely financial institutions, excluding such community-focused financial instutitions, such as Credit Unions and other non-profit organizations which do not accrue assets and/or amass significant capital gains for the sole benefit of the institution.
By reversing 100 years of bad financial policy, the US can tax those institutions which have caused the transfer of wealth from the US Citizen, to the Financial Institution.
This will also have the effect of causing financial institutions to morph from controlling institutions to entities which exist for the sole benefit of the people.
In as much as there is a land tax, where a landowner pays an unconstitutional tax on the assessed value of their home each year, in the same way should financial institutions pay two taxes: the first on their existing value, at a reasonable tax rate (similar to land taxes) and the second, a tax on any increase in their monetary value which is accrued through financial transactions, such as buying any asset, financial or otherwise and selling those same.
This tax is to be used soley for the purpose of paying down foreign and domestic debts accrued specifically for the payment of interest payments introduced through the Federal Reserve system.