Reverse the Global Economic Recession

Abstract

The global economic recession can be successfully checked and reversed if this new and common economic system, solely operated by banks, is adopted and implemented by all nations. The availability of resources and capital flows, needed for economic recovery, is the self-priming character of this new economic system without Government’s fiscal stimulus packages. This new economic system involves a new tax system (TOP Tax system, a new monetary system, a new money supply system, a new banking finance system and a new fiscal policy.

This new economic system shall be operated by banks at minimum operating cost with limited paper currency (0.4%) and dematerialised money (99.6%) of the total money available in the economy in the particular country, thereby totally eliminating black money, tax evasion, fake currency, corruption and extortions

Keywords: Reverse the recession, reverse the economic recession, new economic system, new tax system

JEL Classification: E4, E5, H2, H21, H25 H26