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Where did Douglas object to fractional reserve banking? He objected to their monopoly of the right to create credit.

John R.

From: "Daniel Morin" <dan@danmorin.com>
Reply-To: socialcredit@elistas.com
To: <socialcredit@elistas.com>
Subject: RE: [socialcredit] Solomon Islands from Electronz - To Kenneth Palmerton
Date: Sun, 31 Jul 2005 10:08:42 -0400
>Dear Peter,
> > There is no common ground between Douglas and Von Mises
> > outside the recognition of the fractional reserve banking
> > system as being a curse on mankind.
>
>So why promoting fractional reserve banking? I believe fractional reserve
>banking is fraud. Some individuals believe politicians should control the
>money supply instead of the banks. Instead of having a "Federal Bank" (or
>"Federal Reserve") would have a "Federal Government" printing money. That
>would be the same, at best. Politicians are much more short-sighted than
>bankers, and would cause havoc in the economy by printing excessive money.
>The solution is to have a stable money supply, something that cannot be
>created out of thin air. Gold is a good candidate for sound money.
>
>Sincerely,
>-- Daniel.
>
> > -----Original Message-----
> > From: cymric@xtra.co.nz [mailto:cymric@xtra.co.nz]
> > Sent: Sunday, July 31, 2005 5:41 AM
> > To: socialcredit@elistas.com
> > Subject: Re: RE: [socialcredit] Solomon Islands from Electronz - To
> > Kenneth Palmerton
> >
> >
> > Howdy Daniel and all,
> > I have had debate with a Von Mises supporter in the past. Those
> > who don't know where Daniel is coming from try Libertarianism
> > based on a gold standard money system, would be fair, is it not Daniel?
> > Von Mises, makes an analysis of money and the banking system,
> > those who are educated by Douglas will note a subtle detour that
> > takes them down the track to 'sound money', ie based on gold,
> > which then like a philosophy dictates all policy. Those who
> > control the gold as previously however control liberty.
> > There is no common ground between Douglas and Von Mises outside
> > the recognition of the fractional reserve banking system as being
> > a curse on mankind.
> >
> > Getting back to the Solomons it has been said that SC is only for
> > an idustrial society. The principles apply in any society. The
> > solomons might like to create an appropriate constitution first.
> > I didnt follow the discussions on Guernsey money, and since
> > Guersey isnt an idustrial society and is a small island
> > community, someone here should have something to say that would
> > be appropriate regards issuing local currency to stimulate local
> > enterprise and development of infrastructure which was referred
> > to in the original Electronz
> > post in NZ then a non industrial country as well.
> > Peter H
> >
> > "Daniel Morin" <dan@danmorin.com> wrote:
> > >
> > > Hi Kenneth Palmerton,
> > > I am standing for human rights and individual freedom. Again, let me
> > define
> > > liberty for those who don't know: the absence of invasion by another man
> > of
> > > any man’s person or property. I believe liberty brings justice and
> > > encourages morality and ethics. Using politicians as safeguards to
> > secure
> > > morality and work ethics is absurd. Honesty is not additive: if you
> > have a
> > > group of 100 politicians, each 1% honest, the result is far from being
> > an
> > > honest political party (or government).
> > >
> > > > You seem to write from a very authoritarian...
> > > I am speaking about liberty. How does giving liberty to individuals can
> > be
> > > authoritarian? You tell me.
> > >
> > > > ... and in generally accepted political terms far right wing agenda
> > > What I am describing is not far right at all. Stalin was considered far
> > > left and Hitler was considered far right. Both regimes were supporting
> > > massive regulations, big state spending and no individual liberty. What
> > I
> > > am proposing is the opposite: limited government (as in the American
> > > Constitution) and individual liberty (again, in the American
> > Constitution).
> > > I don't understand why you consider liberty such a threat and a danger
> > to
> > > mankind. Countries offering the highest liberty are the best to live
> > (US,
> > > Canada), and countries with little liberty are with chronic government
> > > crises, riots, high crime rate, rampant corruption and pervasive
> > pollution.
> > >
> > >
> > > > God save us from the sort of uncaring regimes that you describe :-(
> > > Same here. The regime you are proposing uses force and extorsion to
> > promote
> > > government spending. Under the Social Credit Regime, citizens will be
> > > forced to give their income or property to politicians so they can spend
> > it
> > > on their "good cause" (ie, friends). What will you do with citizens
> > > refusing the coercive Social Credit Regime? Beat them? Put them to
> > jail?
> > > Torture them, or kill them? This is the recipe for a civil war. There
> > is no
> > > freedom in what you are describing... never mind blight the lives of
> > > ordinary people. A good intention is no substitute for ignorance.
> > >
> > > If you are guinely interested to learn my opinion, you should read my
> > reply
> > > to William H. McGunnigle and the following:
> > >
> > > http://www.mises.org/journals/rae/pdf/rae8_1_5.pdf (Justice and
> > > Redistributive Taxation)
> > > http://www.mises.org/journals/jls/8_1/8_1_3.pdf (Enforced Equality - Or
> > > Justice?)
> > >
> > > Sincerely,
> >
> > ---------------------------------------------------------------------
> > Some introductory materials to the discussion topic of this list are at
> > http://www.geocities.com/socredus/compendium
> > You're subscribed to this list with the email dan@danmorin.com
> > For more information, visit http://www.eListas.com/list/socialcredit
> >
>
>---------------------------------------------------------------------
>Some introductory materials to the discussion topic of this list are at
>http://www.geocities.com/socredus/compendium
>You're subscribed to this list with the email johngrawson@hotmail.com
>For more information, visit http://www.eListas.com/list/socialcredit

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