Page 101 - Systemic Reform Solutions 2015-2022

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 12)

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).

STEPS 1 through 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 workweek 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 the 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 versus 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

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