SYSTEM CORE  |  PROCESS - APPLICATIONS - AND CONCEPT OVERVIEW

The following applications will be detailed as we proceed. We begin with the Willit Monetary System and will conclude with the I-Amwe Community applications.

 

WILLIT MONETARY SYSTEM

The following concepts and departmental system applications will be reviewed: 

• Willit Monetary System
• Standard Needs Earned Equity System
• Compensation Caps
• Currency Conversion to Willits
• Reparations
• Global Debt Reconciliation
• Wealth Management

  

Willit

Your True Value has never been more clear

Real Money - Backed by the Will of the People

Benefits of the Willit Monetary System:

1. 1. Willits calculate an individual's energy output and ensure fair compensation regardless of nationality, race, or gender.
   2. You can never lose Willits nor have them stolen from you.
   3. Willits never deflate or inflate in value and ensure price stability for all products:
      Groceries, gas, clothing, luxury goods, and services.
   4. Willits are naturally produced and only exist as long as you do, thus preventing cross generational wealth concentration and unfair advantage.
   5. Willits are backed by your energy output and the energy output of all members of society, and cannot be arbitrarily created and distributed, thus ending fiat money.
   6. Willits have an auditable trail to ensure accurate accounting and reporting on the true state of our economic output and efficiencies.
   7. Not taxable!!! All the Standard Needs of society, including administration and governance are provided by the people through the Standard Needs Agreements; therefore, no taxes will ever be requested of you. The Willits you earn are yours to use as you please.
   8. Willits prevent slave labor, wage slavery, and unfair trade practices.            

The current methodology used for monetary creation and valuation has not changed since its inception. Currently, money has value only because of the faith and trust the people have in their systems and administrators, which is declining.

The value and quantity of money fluctuates based on perception, demand, and monetary and political policies which has resulted in economic instability and market collapses, as shown in Figure 2, a history of global monetary declines.

 

Figure 2

Tier Monetary and Exchange System

The Willit Monetary System is composed of a two tier compensation system, Willits and Earned Equity.  Both can be redeemed to acquire goods and services.

• Willits Monetary Compensation
  Redeemable Markets:  1) I-WAUT  or 2) Standard Needs Market (at True Cost)
  3) the Black Market
• Earned Equity Compensation
  Redeemable Market:  Standard Needs Market
• The 4^th exchange market is for administrative bodies. Requests for Willit allocation is submitted to the people for the production of goods and for the services they require for operation and governance.

 

Real Money

Willits are a living breathing currency that is literally backed by the will and energy expense of the people. Unlike money, Willits cannot be made from thin air, nor fractioned to create pseudo wealth. Willits are used to purchase goods and services and help to maintain price stability, and inspire ambition and competition.

 

Willit Creation Process

You can access the Willit Compensation Calculator directly at: willit.advancn.org

Select the tab labeled, ‘Your True Value’ to calculate your earnings as shown in Figure 3, page 54; or the enlarged image of the calculator following Figure 3.

Compensation Process  ( Interactive Model ):  

1. Enter your date of birth.
2. Leave the life expectancy field at 86.
3. Next, enter the typical number of hours you work in a week.
4. Work Levels are pre-assigned for each position when a corporation or production unit requests human resource allocation, and are approved by Global Labor Union and Guild members for each trade or profession (all professions will have a Union or Guild).
5. Next enter your Knowledge or Skill Level

• Each member’s knowledge level will be accessed from the iLearn - Academic and Certification System, and automatically inserted.
• CMS’s are Creation Master Specialists. This designation is bestowed upon individuals that a nation deems to be exceptional innovators. The People are responsible for bestowing this special compensation level to individuals requesting or nominated to the designation.

6. Now, enter your current position Hierarchy.

Select update to view your annual compensation.

Selecting the various work hardship, knowledge level, and position hierarchy will allow you to see the variable rates of compensation for your age, and approximate life span.

After you view your compensation, select the Maximum Compensation tab to view the maximum compensation you can potentially earn throughout your life time, as shown in Figure 5, page 58.

NOTE: It is important to note that positions in the iAct - Job allocation system will have various knowledge level requirements. Everyone will be required to meet the minimum knowledge level, and have the appropriate certifications for the position for which they will earn Willits or Standard Needs Equity. 

 

Figure 3 

 

Comparable Willit Compensation for various positions are listed in the comparable chart (Figure 4, page 69). Each worker segment has two age variables, and/or a factor within the red box which contributes to different compensation outcomes. For example, in column 1, the variation in age for a President of a production unit will affect the rate of Willit compensation.

 

Maximum Compensation

The Willit Compensation Calculation Standard is also used to determine the maximum compensation every person will receive over their lifetime.

To view maximum compensation rates, select the Maximum Compensation tab, shown in Figure 5, page 70.

To increase maximum compensation one must work more hours, increase their skills or education level, or obtain a higher position within the production unit they select to contribute their energy to. Individuals may also create their own company or production unit and request human and material resource allocation. Details for production unit approval are provided in the iAct and iPresent segments.

 

Willit Purchasing Power

At this point, it is difficult to establish the True Cost of luxury goods because the true cost of production for products, based on current monetary inequalities, prohibits accurate calculations.

Based on True Cost established by Willit Compensation Standards (throughout the production channel), one could estimate products will be more expensive. However, mechanical production should reduce cost, and the high cost of goods will aid in resource conservation and product sharing, which will reduce personal expenses for Standard Needs and products. But more importantly, abuse of the Labor Force will end, and resource conservation/sharing will be common place. 

 

 

 

 

Figure 5

Bonuses

Bonuses up to 20 percent of an individual’s compensation are paid each quarter for: efficient production, providing excellent service, good health, and acceptable social interaction for those who work in the Standard Needs Earned Equity System.

Bonus Willits are not used to determine a products true value nor Base Energy Expense (BEE).

Taking the time to interact with the Willit Calculator will give you a better understanding of how compensation is determined, and the variable factors that affect rates of compensation.

 

Natural annual Compensation Rate Increase

You will notice when viewing the Maximum Compensation Calculator shown in Figure 5, each year the compensation rate increases.

The logic behind the calculation method is, as we grow older, we have less expendable life force and our work experience increases our level of expertise. The Willit Compensation Calculation ensures life force usage and experience is taken into consideration.

 

Willit Value

The value of Willits does not fluctuate over time due to transparency, standardization, and retirement of Willit accounts at the end of life cycle for every individual (regardless of holdings). 

• Willits are a true measure of one’s own accomplishments
• Wealth cannot be concentrated in a few hands; nor will the Willit Monetary System have the capability of collapse because of debt, inflation, or devaluation.
• Willits are a living, breathing currency, and based on fundamental elements of creation:
  Life, energy, force, knowledge, and time.

Value Example: The value of a Willit for the United States will have the same value as a Willit from any other country, and will end income disparity between nations. 

Income disparity between nations has led to record profits and economic advantages for corporations, but wage slavery for developing countries that cannot compete to gain access to international resources, including skilled labor. The migration of skilled workers to nations that are monetarily dominant decreases wages worldwide, and leads to the enslavement of individuals without wealth advantage. Wage disparity leads to more social decline.

Technologically advanced nations will have lower true cost due to efficiency and the automation of production, resulting in less work hours for its population and potentially higher standards of living (depending on natural resources). However, the more intelligent a population is the higher the true cost for goods and services.

The Willit monetary system would diminish International trade with exception to natural material resource exchange, as the cost of transporting produced goods would be cost prohibitive.  Each country would deem it mandatory to be self-sufficient. Thus, homeland employment opportunities would increase, and migration to procure employment minimized.

Knowledge and information sharing would continue, as well as travel and tourism. Education and innovation will be essential to obtaining wealth. People would have more leisure time and expendable income to travel. Travel will help foster understanding between people and nations and strengthen international relations based on the pursuit of knowledge, not predatory competition, nor economically forced integration. 

The following figure (Figure 6) displays a few examples of international wage rates disparity.
Source: http://en.wikipedia.org/wiki/List_of_minimum_wages_by_country 2011

 

 

Figure 6

Monthly/Hourly  Wage Rates                                                          Annual Wage Rate

 

Grant of Willits and Equity Compensation 

Multi-Payment Job Positions

Some positions may require the payment of both equity and Willit compensation for positions that are vital for society that may be dangerous or undesirable.

Examples: Police Officers, Fire Fighters, Mine and Oil Rig Workers, Teachers and Professors, Independent Investigators, Local Rights Administrators, Medical Doctors, and Mental Health Professionals.

Willit and Equity (WE) designated positions earn automatic equity, and the payment of Willit Compensation may be issued.

 

 

Payment of Willit Compensation 

Employers never pay wages. Once a production agreement is confirmed, all resources including human resources are allocated to Producers and Service Providers at no cost.

The Willit rate is the global minimum one can be paid. Skills and expertise vary greatly; therefore one can be paid more than the minimum, but not less.  All compensation received is applied toward maximum compensation levels.

Willit Compensation for work performed is issued by the Willit Administration  (GCTA) after work is confirmed by Production Unit Management and processed by the on-site Willit Administrator.

Willits will be of digital format, electronic, will not have a physical essence, and are not printable. Paper checks and credit slips, written against one’s account will be acceptable forms of payment only if electronic payment processing problems occur.

”Human Resource Processes and Functions are removed from the control of businesses, corporations, and Production Units with the exception of the right to terminate employment of an individual based solely on the individual’s lack of job performance and skill requirements."

Equitable Compensation

• Employee Team Members are tracked and assessed based on their efficiency, abilities, and production and service yields for their department, if required. For example, an individual working as a Human Resource Director would not have a yield requirement, but they are responsible for ensuring all the tasks of their department are completed based on the task management system’s time and date specifications.
• Every task is measured by time. Each person acknowledges their energy expense by the completion of tasks confirming their right to compensation or equity.
• Tasks may also have alternate compensation levels (such as hardship levels); that will override the position’s compensation levels and thus the individual will be compensated for the completion of the task at the task’s Willit rate, as long as the task’s Willit rate is no lower than the individual’s confirmed permanent position compensation level. The individual will be compensated at the task level only for the duration of time they are performing the task.
• Once a production cycle is completed, a product is assigned a True Cost rate and entered into the virtual market for tracking. Based on the product’s Market Status, it is then placed either in the iWAUT Market or the Standard Needs 
• After a production cycle is completed, rates of efficiency and waste are established and reported to Management and Employee Team Members. The established measures are used as a gauge for production and service efficiency quarterly bonuses – paid by the Willit Administration (GCTA), but excluded from product BEE 
• Employees that do not meet personal efficiency,as well as other standards required for quarterly bonuses, are excluded from bonus payments.
• Equitable Compensation is based on the Willit standard compensation rates. However, some job are exempt from bonus payments such as:  inventors, creatives, and artists.
  • CREATIVE COMPENSATION: ARTIST, AUTHOR, AND FILM MAKERS
    Creatives can set their own pricing for art, books, and films. Funds will be issued to them based on their yearly compensation cap. Income from additional sales that exceed their annual cap will be placed in their escrow account for future distribution – to ensure no individual can dominate nor monopolize resources.
  • INVENTOR COMPENSATION
    Inventors will be compensated based on their Willit compensation calculation for as long as their original and registered invention or idea is in use.

 

Executive Compensation

Private corporations incur labor costs, as well as the true cost of operation and maintenance. However, all members of society are compensated for work through the GCTA regardless if the corporation is private or public.

Independent Production and Service Provider Agreements
Executive Management Teams (EMTs), receive compensation after the sale of a good or service. Funds in excess of BEE (Base Energy Equity) will be distributed to the EMT’s allocated accounts. The Profits may be distributed to the Executive Management Team based on Executive Team Agreement. However, the distribution of earnings cannot exceed annual compensation caps. 

Management teams set pricing rates for production above the BEE, but, their energy investment is not calculated in the BEE. Management is, therefore, compensated based on their success at retaining employees, efficient production, and market development.

The GCTA also issues compensation to non-management personnel, supervisors, and managers at or above their Willit Standard Rate, after the purchased product is received by the purchaser.  

 

Illness and Injury

Should an individual become sick, temporarily ill, or unable to work for an extended period, the Standard Needs Earned Equity System should ensure their care. Their equity requirement would be suspended until they can return to work. They must have access to medical services, the expenses covered by the Global Compensation and Transaction Administration, perhaps through an Earned Equity - Disability Care Coverage Act.

All expenses paid in an individual’s behalf should be recorded in an itemized health care account to determine the amount of equity and Willits required for care. When the citizen is well, and not found to be at fault for self-injury, they will have the opportunity but not the obligation to work extra hours in the Standard Needs Earned Equity or iWAUT Markets to decrease their Care Coverage escrow.

If one’s disability is the fault of another individual, the escrow account will be used to determine their financial obligation for care and applicable legal expenses.

 

Vacation and Leave of Absence

Each individual will determine their amount and duration of vacation. Permission to take leave or vacation is not required from iWAUT producers. However, the right or date to return to work must be agreed upon by both parties prior to vacation or a leave of absence. Unions and guilds, by confirmation vote of its members, and agreement by production and administrant units, will have the right to determine work hours, and agreements for sickness and injury, vacation, and leave of absence for the Standard Needs Earned Equity as well as the IWAUT employment markets; and must take into consideration the physical and mental wellbeing of its members, and employment/recruitment rates to ensure efficient production and service provision. See the i-Act System for additional Union and Guild rights and obligations.

 

Financial & Price Stability

The standard factors used to determine Willit Compensation will stabilize costs for goods and services, which will directly affect price strategies. The Base Energy Expense (BEE – Production/Service Cost) will be listed for all products and services.

Global Trade Analysts will attempt to mitigate Bear Market motivation (what the market will bear) during shortages for raw resources and food supplies. But some goods and services may be subject to allocation priority levels.

National Willit Valuation 

Willits are a universal tender with unified value.  In our current system, a nation’s currency value compared to other nations is based on floating rates, without sound underlying factors, and can be manipulated. They are without checks and balances, and there is no transparency. Nor, is the current monetary system audited by independent sources who are answerable to the people. Nations can manipulate their currency and misrepresent gross production and assets used to back its value.

To ensure proper checks and balances, and to assess true production rates and value, each nation's Willits will be designated by the acronym for the source of origination. Thus, each Nation will be issued a Willit Class.

Example - The United States Willit Class would be:  Willit.US
Willit classes will be exchangeable for goods and services from the issuing nation.

International Willit Exchange

To ensure a nation’s ability to trade is not impeded, Willits will be exchanged through global Willit and Resource Reserves systems.

Example:  (see Figure 7, page 78)

The United States wishes to purchase oil:

A nation may submit an International Purchase Enactment (IPE), to their people for the purchase of international products, for example OPEC Oil.

The people must approve the IPE, as the people’s material resources and labor are in service to fulfill International enactment orders.

• OPECtransfers the oil to the Global Resource Reserve System for transport, which is verified by Global Compensation and Transaction Administrators
• The United StatesSubmits Willits to the Global Resource Reserve System.

 

OPEC will have the option of purchasing American products, services, or materials; an OPEC nation may also require US-Willit reserves for travel and tourism so that their people may travel to the United States and vice-versa. Or, OPEC may offer the US-Willits to other nations that wish to purchase American goods and services, for which OPEC will receive the option to purchase products, materials and services from those other nations.

Nations may issue Willits up to ten (10) percent of Gross Domestic Production into the Global Resource and Reserve Systems for up to three quarters, based on the 60/30/10 partition agreement. Nations may take on no further resource allocation obligations until the obligation is settled. A nation may issue Willits or commit resources to maintain a steady ten (10) percent ratio.

Global and Regional Compensation and Transaction Administrations will dispense Willit Compensation and ensure the audit of all transactions, and the efficient and legal distribution of resources.

As a result, only the best products, rare materials, and niche services will be offered for international exchange. Knowledge and training will be of prime importance as well as innovation. Nations, by necessity, will make efficient use of their resources, promote recycling, the best usage of resources (see efficiency calculator Figure 12, Page 64), and conservation. Each nation’s cities and states will be vital assets that ensure a nation’s longevity; therefore, its people must be well treated to prevent conflict, civil war, and secession.

 

Figure 7

 

 

Money Conversion

The conversion of current international currencies into Willits is a simple process, as shown in Figure 8, page 80. Money is converted based on the hours an individual worked to obtain their monetary holdings. Then, those hours are converted into Willits.

Based on our example (Figure 8), the average hourly rate for the individual based on current currency methods yields an hourly compensation rate of 25 dollars.  The Willit rate for our sample individual has determined their compensation should have been paid at a Willit rate of 32.81 Willits per hour based on the sample age, skill level and other compensation factors.

Willit monetary conversion rates will ensure every individual is compensated at an equitable level regardless of a nation’s previously flawed or arbitrary compensation methods. These rates also ensure that people who wish to acquire a more favorable standard of living are able to do so within their own country, thus migration for economic advantage will decline. 

The Willit Monetary System will also help to end the intellectual and labor drain nations suffer, which prevents technological and social advancement.

 

Figure 8

 

 

REPARATIONS

The Willit Compensation Calculator also includes calculations for Accurate Past Earnings Compensation (APEC) or reparations for unpaid wages, low wages, and slavery, as shown in Figure 9. 

Reparation is paid only to the individual affected or their spouse for a duration of time approved by legislative enactment.

Reparation is not paid to individuals that were not directly wronged, such as an adult child of the victim nor their descendants. Only victims and/or their spouses are compensated.

Figure 9

 

 

EARNED EQUITY STANDARD NEEDS

The Standard Needs Earned Equity tier of the Willit Monetary systems is vital to ensure that all nations end poverty, and to ensure the people control their nation’s destiny.

Earned Equity

Earned Equity is the right to access products and services the people have agreed are Standard Needs for all people -- with exception to those individuals permanently exiled for crimes against humanity and human rights violations.

To place orders for Standard Needs, one's Work Equity Requirement (quota) must be in good standing, or, Willits are required to purchase Standard Needs items at the BEE/R (Base Energy Expense / Rate). 

Benefits

Earned Equity for receipt of Standard Needs is without ranking and is based on each person doing what they do best to ensure the proper functioning of society. Individuals will also receive bonus Willit compensation for efficient production at their compensation rate. Individuals may openly and freely offer their services (non-tangible) and their used products (owned prior to System Core implementation), registered in the x-Change’s iWaut Market.

A household or an individual’s consumption is reflected in real time usage: food, utility services, etc. If a household exceeds average consumption for consumable Standard Need goods, their equity requirement is increased, or they may pay for excess consumption with Willits.

An individual may request compensation in Willits instead of Earned Equity, and pay the BEE for standard goods and services at True Cost.

Standard Needs goods and services that will not be calculated as overconsumption, would be: Standard Needs communication services for trade and commerce, physical and mental health and medical services, emergency services, as well as political, judicial, and education services.

Able bodied citizens should become certified in more than one classification to ensure they have numerous skill sets to earn their equity and Willits.

All citizens (male and female) will be guaranteed the right to work in the Standard Needs Earned Equity System in any field they have obtained certification.

Once a citizen’s monthly/annual Earned Equity Requirement is fulfilled, they will be designated as, “standby” in the human resource registry until all willing members of society have fulfilled their Standard Needs Earned Equity obligation.  

The Standard Needs Earned Equity System results in: 100 percent full employment, the reduction of work hours for all people, a robust and dynamic economic system, stability of employment, social and economic security, and individuals having the time to properly care for and nurture  their families. Thus, a stable social and economic system is created.

 

GLOBAL DEBT RECONCILIATION

You can access the calculator directly at: debtsettlement.ProjectIndivisible.org

 

 

Debt Reconciliation
The reconciliation of all debt, including municipal, sovereign and private bonds, stocks, and commodities will be overseen by the GCTA, to ensure all persons with verifiable claims of debt obligation owed to them are reimbursed, up to their Maximum Compensation Level. 

Individuals residing in or holding private property that secures debt obligations will have right of first use, and upon their death, the property will be transferred to the public domain, for lottery distribution and/or recycle.  Those wishing to retain private property (with or without an open loan obligation) may do so, however, maintenance of private property, must be paid at True Cost for, as well as roads, sewage systems and treatment, fixtures, furnishings, water, heating, gas, as well as all Social Benefits/Standard Needs (without subsidies), which would include food, education, training, etc.

Private Property Debt Settlement Example: The loan obligation for the property will be absorbed by the Global Compensation and Transaction Administration, and the payment of Willits are issued to the loan holder. The residing individuals retain their home and are established as Private Owners Without Equity – non-Standard Needs citizens who pay the True Cost for all goods and services. However, no monthly nor annual rental rate nor mortgage is payable, just the cost of upkeep for the property is required. The property must be maintained based on social standards or will be at risk for demolition.

 

Debt Reimbursement Calculation

Settlements of each person’s or nation’s bond/debt is essential to the establishment of a stable monetary system, and will ensure nations are able to restore trust at home and abroad.

The calculation to convert national and municipal bond or sovereign debt the System CORE makes use of, is as follows: (Local debt reconciliation is based on Steps 3c to 8 see Figure 10)

First the debt must be transferred to the individual to whom the debt, loan, stock, or commodity obligation belongs. Within the Willit Economic System, corporations are not people, and therefore cannot claim debts (a claim that another individual owes something to another individual). Thus the debt owed or the shares of the corporation must be transferred to the stakeholders (the individual/s to whom the debt is owed).

STEP 1 - 3.  
The average income for the debtor, as well as the debt holder’s Average Hourly Rate of Compensation is entered.

• We use a 40-hour work week to standardize monetary values for the calculation.
  This yields the Average Hourly Rate.
• Countries that hold another country’s debt obligation must transfer the debt holding to all working members. Thus, each citizen that has worked the required minimum hours (per confirmed public enactment) will receive an equal portion of the Debt Obligation (money to be paid to the citizens by the debtor nation) after the debt is confirmed by International Debt Reconciliation Audit Commission (IDRA).
• Loans received by sovereign nations without the consent of the people, or where the people received no benefits from the loan, would be invalidated, and payable only by those individuals who benefited from the loan. Thus, the debt obligation will be absorbed by the GCTA and the funds deducted from the account holdings of the individual/s involved in the fraud.
• Debt obligations without valid electronic or paper trails will be invalid.

STEP 3b.
The hourly labor investment of the bond holder verses the hourly labor of the debtor citizen is used to determine the percentage of work hour difference.

STEP 3c.
The comparable percentage of labor hours is used to derive the Rate of Debt Compensation (RDC). This is the minutes/hours the debt holder would have worked, on average, if they were a citizen of the Debtor Country. In other words, you will be compensated at the same rate as the average Debtor citizen (as the citizens pay the debt), because the citizens had no say in how much debt the nation accrued. No one can expect the citizens of a nation to pay another nation a rate above the average income of the citizens who may or who may not have received any benefit from the investment.

• Usury is the charging of interest. Interest is the demand of additional payment without the expense of energy and is enslavement of another being; is against original Law and human rights, is destructive to the individual and mankind as a whole, and an unnatural process conceived in mental illness.

STEP 4-8.
After the RDC is calculated, the Debt Holders Willit Compensation is calculated with their Willit Compensation Rate Levels. Willits are then transferred to the debt holders’ Willit-IHA (International Holdings Account), for the purchases of goods and services from the debtor nation’s international allocation of resources, and no further interest will be accumulated nor paid.

After the Standard Needs (SN) of all citizens are met, every nation that has allocated resources based on the 60/30/10 partition agreement, will commit 10 percent of their yield to the International Exchange to pay off debt owed. Standard Needs include: Housing, food, communication equipment, utilities, infrastructure, security, as well as education, health services, and technological exchange.

Nations may request an allotment of international debt from its citizens in exchange for Earned Equity, for the purchase of international products. Nations must disclose what the funds will acquire from the International Resource Pool and how the resources will be used.

Figure 10

 

 

Debt conversion into Willits is based on converting the purchase price paid for the bond or the principle amount of the loan to the actual energy investment an individual would have placed into obtaining the bond, if they were compensated at the standard rate of the citizens of the issuing country.

To prevent abuse and loopholes of bond transfer, Debt Conversion is not based solely on the face value of the bond. This is to ensure that an individual cannot purchase, for example, a bond valued at one million dollars, for $1.00, then receive Willits for the face value of the bond, instead of the purchaser's energy output.

Bonds transferred to children, or people that have not held a job prior to the date of transfer or purchase, will be considered null and void; as there is no fair income ratio for comparison.

Also, bonds transferred to individuals as gifts, will also be null and void, as the receiving individual did not work for the bonds.

Additionally, the debt holder will be required to provide documentation and provide a sworn statement regarding acquisition of the obligation.

 

Willit International Holding Account
It should also be noted that a Willit International Holding Account can be created for an individual. However, International Holding Accounts for nations will cluster accounts from individuals to ensure all Willits can be traced back to their original source.

Willit accounts are limited to individuals, and may not be combined.  Willit accounts are exclusively owned by the individual, and upon their death, transferred to their spouse, or minor child/ren (only until adulthood). Thereafter, the Willit account will be disabled and closed. This is to ensure that all people receive only what they earn. And to ensure our system promotes open access to knowledge and resources for all people, so that all can reach their full potential, regardless of perceived class or birth rights.

Debt Settlement Benefits

• International trust can be restored through a stable and equitable monetary and debt settlement system.
• Prevents enslavement of future generations by ensuring they are not obligated for the payment of debt from which they did not directly benefit.

 

Settlement of Personal Loans issued by banks and reserve systems

All loans for homes, cars, education, and corporate assets will be registered and consumed by the Global Compensation and Transaction Administration (GCTA), who will conduct a formal and complete audit of all debt service.

Bank owners and investors may submit claims to convert their debt service investments into Willit compensation.

Once the audit is complete, the people will receive a formal report with claim details.

The people will vote to confirm or deny reconciliation Willit payment to bank owners and Investors.

 

Why is this important?

Debt is contrived, a form of slavery, and was and is created from nothing but the will/desire of the benefactor, and is without divine/natural Law Authority.  The dicode effect (constructive verse destructive), of interest has proven interest to be destructive to financial and economic systems and an unnecessary burden upon households, cities, states, and nations. In layman terms interest is the request to receive more than what was initially invested without the expense of energy.

All land and material resources belong to nature (God), are meant to be shared, and were never to be sold. Resources are to be shared by all living creatures, thus, the initial act of selling land is a violation of natural/divine Law.

Therefore, sovereigns and banks do not actually own the land they sell, as they never had the right. However, individuals who have invested their energy in developing land and resources must be compensated for their life work/force, or the act of debt reconciliation would result in theft and would also lack legitimacy. No land nor asset can be, nor will be, confiscated to bring the System Core into being.

The reality of True Cost will motivate change.

 

Wealth Management

Wealth will be managed in the Willit Escrow System. Wealth will be determined by Willit compensation, patents for relevant products, and copyrights for one’s creative works, and will not be associated with property ownership, stocks, commodities, interest, nor business investments.

Neither copyrights nor patents will be transferrable. Once ownership is declared, the party or parties will be compensated for copyright and patent usage by the Willit Administration. Should a private corporation or public production unit make use of the copyright or patent, the copyright or patent owner will be compensated, based on the percentage of the information used and the number of units produced, if applicable.