| Subject: | Re: [socialcredit] Re: more on -- typo in para eight (and three): Wally quoting Douglas | | Date: | Wednesday, July 28, 2004 16:47:59 (+0200) | | From: | Jessop Sutton <sutton @...........za>
|
| In reply to: | Message 28 (written by Wallace M. Klinck) |
On Tuesday 27 Jul 2004 10:45 am, Wallace M. Klinck wrote:
> "Depositor No. 10 having happily obtained his overdraft, pays it out to his
> empoyees in wages and salaries. These wages and salaries, TOGETHER WITH
> THE BANKERS INTEREST, all go into costs. All costs go into the price the
> public pays for its goods, and consequently, when depostior No. 10 repays
> his banker with 102 pounds obtained from the public in exchange for his
> goods, and THE BANKER, AFTER PLACING 2 POUNDS, ORIGINALLY CREATED BY
> HIMSELF, TO HIS PROFIT AND LOSS ACCOUNT, sets the 100 pounds received
> against the phantom credit previously created, and cancels both of them,
> there are 100 pounds worth more goods in the world which are
> immobilized--of which no one, not even the banker, except potentially, has
> the money equivalent."
===============================
But "Depositor No. 10" only received the wherewithall to repay his loan from
other parties who purchased his goods, possibly with money originally created
as loans by some banks somewhere and which still have to be repaid. Is this
not so?
Also "depostior No. 10 repays his banker with 102 pounds obtained from the
public in exchange for his goods . . . . . . . . . . . there are 100 pounds
worth more goods in the world which are immobilized . . . . . .." Has the
system not removed the goods from the world through the process of
consumption?
Jessop.
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