| Subject: | Re: [socialcredit] Re: more on -- typo in para eight (and three) | | Date: | Monday, July 26, 2004 16:40:55 (-0700) | | From: | william_b_ryan <william_b_ryan @.....com>
|
| In reply to: | Message 23 (written by Joe Thomson) |
I think you and Wally are correct. It was an inept
effort, grammatically too.
The point is that there are two recurrent loans, for
five dollars each, spread six months apart, year
after year. The employees draw incomes equal to $10
per year. But the banker and the entrepreneur
collect interest and profit in the amount of $2 per
year. It would seem that 10 must equal 12, a paradox
or impossibility. But it is merely a subtle though
trivial fallacy. The monetary cranks count the same
quantity of money twice.
We think of interest and profit as being the
"residual," after something is "paid" back. In
reality, interest and profit represent income
transferred from employees to bankers and
entrepreneurs, in payment for financial and
entrepreneurial services.
--- Joe Thomson <thomsonhiyu@shaw.ca> wrote:
> Also in paragraph three. You've got the second
> loan, the one at
> 'T-one/half', at 5% interest instead of 10%. While
> the math won't come out
> properly that way, anybody reading should still be
> able to see what you're
> getting at. It's a very good explanation. Thanks.
>
> Joe
> ----- Original Message -----
> From: "Wallace" <wmklinck@shaw.ca>
> To: <socialcredit@elistas.com>
> Sent: Sunday, July 25, 2004 11:03 PM
> Subject: [socialcredit] Re: more on -- typo in para
> eight
>
>
> > Bill, I believe that in paragraph eight there is a
> typo. I believe that
> you
> > meant 50 [cents] in the pockets of the banker. --
> Wally
> >
> > <william_b_ryan@yahoo.com> wrote:
[snipped]
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