In-Reply-To: <028801c5bcd1$a274d680$886422cf@martinh4>
Dear Martin.
I think it a great shame that the genius of people like Soddy get
forgotten.
His insight that impressed me the most is his realisation that wealth Can
not be saved. ( Cartesian Economics ).
Ken.
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Sun, 18 Sep 2005 22:21:40 -0600Message-ID:
<028801c5bcd1$a274d680$886422cf@martinh4>From: "Martin Hattersley"
<hattersleyjm@interbaun.com>To: <socialcredit@elistas.com>
References: <dd.2dbbfce1.30597c72@aol.com>
Date: Sun, 18 Sep 2005 22:13:40 -0600
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Soddy's idea was that the "Virtual Wealth" of a nation was that amount =
of monetary tokens its population was prepared to hold at any time for =
purposes of exchange in the future, and equalled the value of everything =
that was "on the market" at that time. This Virtual Wealth was an asset =
that does not appear on the national balance sheet, and is appropriated =
by the banking system that creates 97% of what passes for money in our =
economy.
It seems to me that we won't get any place unless we recognize this =
asset as being something given value by the public, who deserve all the =
profit from its creation.
Martin Hattersley
1970-10123-99 St.,=20
EDMONTON AB CANADA
e-mail: hattersleyjm@interbaun.com
----- Original Message -----=20
From: Triumphofthepast@aol.com=20
To: socialcredit@elistas.com=20
Sent: Wednesday, September 14, 2005 7:15 AM
Subject: [socialcredit] the accounting model
Further thoughts on the accounting model:
Observation 1: A national balance sheet for the nation would be like =
combining the balance sheets of all the companies in the nation. In =
this process, certain things would change. For example, one company =
owes money to another. This normally appears as an asset on the balance =
sheets of both companies, a cash asset of the one and an accounts =
receivable asset of the other. In a combined balance sheet, we are not =
concerned with intercompany debt, and the accounts receivable will =
disappear, showing that there is really only one asset. But
Observation 2: Social credit understands money as tickets, an idea =
that is completely foreign to generally accepted accounting principles. =
In Douglas's national balance sheet, money ("cash" in accountants =
language) is not an asset at all, it is on the other side of the =
equation as a claim against a (physical) asset. But
Observation 3: The concept of a balance sheet is that it balances =
automatically. It is merely a reflection of the fact that an =
association is an artificial person that owns things on behalf of its =
individual members. So the association owns assets directly, but the =
individual members own them indirectly and ultimately. In a national =
balance sheet, we will have physical assets, we will have liabilities to =
foreign entities (internal liabilities will cancel out and disappear), =
and we will have the capital account. The capital account is a =
statement that the net assets of the association of the nation are owned =
on behalf of, and for the benefit of, us, the citizens. Capital assets =
are used by producers, who are always to an extent public agents, on our =
behalf; and consumer goods and services are what we actually take =
possession of. Therefore, pace Douglas, it seems to me that money as =
such should not appear on the balance sheet any more than tickets would =
appear on a theater's balance sheet. (A theater would record printing =
tickets as an expense but not tickets themselves as an asset.) If money =
did appear on the national balance sheet, it would (per the A+B Theorem) =
not balance.
The national balance sheet is not an accounting of money. It's an =
accounting of things, and then money is merely a device by which the =
members of the association take physical possession. In conventional =
accounting a dividend is really a dividend in money. In social credit =
accounting a dividend is really a dividend in things, and money is just =
a mechanism.
Michael=20
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<DIV><FONT size=3D2>Soddy's idea was that the "Virtual Wealth" of a =
nation was=20
that amount of monetary tokens its population was prepared to hold at =
any time=20
for purposes of exchange in the future, and equalled the value of =
everything=20
that was "on the market" at that time. This Virtual Wealth was an asset =
that=20
does not appear on the national balance sheet, and is appropriated by =
the=20
banking system that creates 97% of what passes for money in our=20
economy.</FONT></DIV>
<DIV><FONT size=3D2></FONT> </DIV>
<DIV><FONT size=3D2>It seems to me that we won't get any place unless we =
recognize=20
this asset as being something given value by the public, who deserve all =
the=20
profit from its creation.</FONT></DIV>
<DIV><FONT size=3D2></FONT> </DIV>
<DIV><FONT size=3D2>Martin Hattersley<BR>1970-10123-99 St., <BR>EDMONTON =
AB=20
CANADA<BR>e-mail: <A=20
href=3D"mailto:hattersleyjm@interbaun.com">hattersleyjm@interbaun.com</A>=
</FONT></DIV>
<BLOCKQUOTE=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3DTriumphofthepast@aol.com=20
href=3D"mailto:Triumphofthepast@aol.com">Triumphofthepast@aol.com</A> =
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dsocialcredit@elistas.com=20
href=3D"mailto:socialcredit@elistas.com">socialcredit@elistas.com</A> =
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Wednesday, September 14, =
2005 7:15=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [socialcredit] the =
accounting=20
model</DIV>
<DIV><BR></DIV><FONT face=3Darial,helvetica><FONT lang=3D0 =
face=3D"Goudy Old Style"=20
size=3D3 FAMILY=3D"SERIF" PTSIZE=3D"12">Further thoughts on the =
accounting=20
model:<BR><BR>Observation 1: A national balance sheet for the =
nation=20
would be like combining the balance sheets of all the companies in the =
nation. In this process, certain things would change. For =
example,=20
one company owes money to another. This normally appears as an =
asset on=20
the balance sheets of both companies, a cash asset of the one and an =
accounts=20
receivable asset of the other. In a combined balance sheet, we =
are not=20
concerned with intercompany debt, and the accounts receivable will =
disappear,=20
showing that there is really only one asset. =
But<BR><BR>Observation=20
2: Social credit understands money as tickets, an idea that is=20
completely foreign to generally accepted accounting principles. =
In=20
Douglas's national balance sheet, money ("cash" in accountants =
language) is=20
not an asset at all, it is on the other side of the equation as a =
claim=20
against a (physical) asset. But<BR><BR>Observation 3: The =
concept=20
of a balance sheet is that it balances automatically. It is =
merely a=20
reflection of the fact that an association is an artificial person =
that owns=20
things on behalf of its individual members. So the association =
owns=20
assets directly, but the individual members own them indirectly and=20
ultimately. In a national balance sheet, we will have physical =
assets,=20
we will have liabilities to foreign entities (internal liabilities =
will cancel=20
out and disappear), and we will have the capital account. The =
capital=20
account is a statement that the net assets of the association of the =
nation=20
are owned on behalf of, and for the benefit of, us, the =
citizens. =20
Capital assets are used by producers, who are always to an extent =
public=20
agents, on our behalf; and consumer goods and services are what we =
actually=20
take possession of. Therefore, pace Douglas, it seems to me that =
money=20
as such should not appear on the balance sheet any more than tickets =
would=20
appear on a theater's balance sheet. (A theater would record =
printing=20
tickets as an expense but not tickets themselves as an asset.) =
If money=20
did appear on the national balance sheet, it would (per the A+B =
Theorem) not=20
balance.<BR><BR>The national balance sheet is not an accounting of=20
money. It's an accounting of things, and then money is merely a =
device=20
by which the members of the association take physical =
possession. In=20
conventional accounting a dividend is really a dividend in =
money. In=20
social credit accounting a dividend is really a dividend in things, =
and money=20
is just a mechanism.<BR><BR>Michael</FONT>=20
=
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<P></P>No virus found in this incoming message.<BR>Checked by AVG=20
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