| Subject: | Re: [socialcredit] the reality? -- earning/production-potential simply an idea or hard reality? | | Date: | Saturday, November 20, 2004 08:05:01 (+0200) | | From: | Jessop Sutton <sutton @...........za>
|
On Wednesday 17 Nov 2004 7:47 pm, william_b_ryan@yahoo.com wrote:
> But the "earning/production-potential" can be simply
> an idea and not anything tangible. To implement an
> idea it is not necessary for any member of society to
> withhold consumption or to save so that others may
> borrow.
===============================
Agreed. But it doesn't alter the fact that at bottom of the borrower/banker
agreement lies something that the banker can lay his hands on in the event of
failure to pay back the borrowed amount (plus interest and penalties.) If you
borrow 3 million from your bank --- and he, being a sensible man, has
assessed that you are a good risk -- and then things fall apart and your
business goes bankrupt, the bank will be the preferred crediter and will get
its slice from the sale of the assets of your business. If there were no
assets, and the risk was poor, the bank manager will be looking for another
job -- and deservedly so!
Jessop.
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Re: [socialcredit]
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