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Message 192
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| Subject: | Re: [socialcredit] Reply to Bill Ellis | | Date: | Friday, October 1, 2004 07:00:26 (-0400) | | From: | Bill Ellis <tranet @.........net>
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On Sep 29, 2004, at 12:03 PM, <william_b_ryan@yahoo.com> wrote:
> Thank you for participating in our discussions, Bill.
> In my role as interlocutor I'll challenge you to
> support your assertions. I hope you don't mind. I
> encourage others to join in: ... [snip]
BE:
Bill Ryan, I set your commentary on my post aside with the hope that
I'd
find time give the response it deserves. But with harvest time here,
and
my over commitment to other projects on the Internet. I don't think
I'll get
to it for a long time. So I'll have to pass for a while.
If you haven't, I suggest you read Tom Greco's book on the economy and
money.
He explains in more detail how a small deposit in a bank leads to loans
well beyond
the value of the deposit. M2 fiat money is created even if M1 money is
based on real
goods.
I regret I haven't found easily the study on those who take in more
interest than they
pay out. It is a very small number of the already wealthy. It would
be interesting if
everyone on this list added up what they pay out in interest on
mortgages, car payments,
credit cards, and other debts and compare it to what they take in
interest on savings,
loans made and any other you receive. The wealthy who do not live on
borrowed
money are getting wealthier because most of us are paying interest on
our homes,
and other life necessities.
I'll save your post and hope to make a more adequate response later.
Bill Ellis
A Coalition for Self-Learning
<www.CreatingLearningCommunities.org>;
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