Possible alternative would be to declare any commodity or resource that can be sold on the open market within 12 months as a “reserve”. As an example, declare the harvestable trees in the national forests as a “reserve”.
Alternatively, create a multi-tier reserve system with commodities. Anything that can be sold within 24 hrs, like gold, currencies, etc, is a T1 reserve. Anything that takes effort but can be sold on the market within 12 months a T2 reserve. Anything that takes 24 months to bring to market a T3 reserve and finally anything that takes 5 years or more to bring to market a T4 reserve. T3 and higher reserves would need to be discounted for risk to price and time value of money. The sum of T1 through T4 would be the current total reserve.
This would allow the US to STATE a better reserve picture but would not actually improve the imbalance. I am now of the opinion that the ONLY way out of this mess is to start a massive energy build / drill / sell program to the point that not only is the US energy independent but becomes a major exporter of energy. Then tax the exports to pay off the short term debts. If independence is established in the next 4 years and exports begun within the next 8 years, we may just have a chance.
BUT THE NUMBER ONE THING WE NEED TO DO IS STOP SPENDING MONEY THAT WE DO NOT HAVE!
However, given the current administration / Congress ... not going to happen.
“BUT THE NUMBER ONE THING WE NEED TO DO IS STOP SPENDING MONEY THAT WE DO NOT HAVE!”
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Bump.
Bump.
And Bumparoni.
Although the current, talentless lackey who has SOMEHOW made his way to the White House is BY FAR the worst exemplar of this odious behavior, this is a problem that spans decades, and sorry to say, includes “Republican” Administrations and Congresses.
Reading Sarah Palin’s current book it is becoming clearer that she is a small government, fiscally responsible conservative, par excellance.