Ecuador came up with an idea to save it’s rain forest from oil drilling. It asked for international funds to support the country, so they wouldn’t have to drill for oil in their rain forests. That idea has not worked. But the CBA, community bank account, idea might work here. Let’s take a look
There is a way to end poverty here and around the world, without spending a penny. Here goes:
Set up a CBA, which stands for community bank account – in this case one for the country of Ecuador. Donors put money in the account (other countries, people, Ecuador itself). This money cannot be spent. But the interest on the money can.
1. The interest on the money comes in every month forever. Ecuador uses the money to end poverty.
2. The money must also be put in Ecuador banks, with the proviso that those banks can only loan to people in Ecuador.
3. The interest spent must be used to fight poverty. Ecuador sets up a budget that tells where the money will be spent.
CBA advantages are many that include. Empower Ecuador with funds to fight poverty. The money comes in every month. The capital is not spent – not one penny ever – and it may be taken back whenever the donors wish. The interest money never stops coming in. Ecuador banks have funds to loan to support their economy in a 2nd way. There are checks and balances. There is very little administration costs. This works here or anywhere. It is not charity, and it doesn’t cost one penny.