(John Rawson wrote:-) Joe, even
you are not looking at the mechanism of removing the right to create money
from the banks. Henry will claim that the C.A. is autonymous, and
therefore answer your problem that way. But banks do create money.
It is part of their nature, like we breathe air. Removing that function from
them requires as much thought as enabling us to survive under water.
(Joe replies:-) I think Douglas meant the now
nearly 'exclusive' right to create generally acceptable 'money' (with
all of it coming into existence as 'debt'), is what needs to be removed
from the Banks. The distribution of the 'debt-free' National Dividend
and Consumer Price Discount to 'consumers' breaks the worst feature of the
'monopoly of credit' currently exercised by the private banks.
While it can certainly be argued that the
NCA would be an 'autonomous' body, if it gets involved in issuing credit to
banks to on-lend to 'producers', my fear is that it will no longer be so
'autonomous' any more. It will cease to be simply as B. Monahan
described it, a 'statistical' agency, and will become very much of a
'political' one. This, to me, is not how I would envision the Douglas
proposals for 'de-centralization' and 'consumer' control over
'production'.
I don't think my fear is without foundation,
since I've read of some indication there was 'political' influence in the
supposedly 'autonomous' Alberta Treaury Branch system in some of its early day
lending activities. And I believe at one point the number of doubtful
loans it had written to obvious ASCP supporters placed it, and the Alberta
Social Credit Government of Premier Manning in some potential
difficulty. Fortunately, Alberta had discovered and was
developing 'oil' around the same time, and both the ATB and the ASCP
government survived.
We did have a recent example here in
Canada of how supposedly 'autonomous' government agencies can be subject to
'political' influence when it comes to financing 'producers', though.
The former PM, Jean Chretien, was implicated in 'phoning' the head of the
Business Development Bank of Canada, a Federal government-owned lender, to
help secure a loan for a hotel and golf resort business located in his
riding. So I am very wary of any proposal to make the NCA the new
holder of the 'monopoly' that involves it assuming the creation of ALL
credit.
I don't think Douglas thought there was too
much wrong with the 'structure' of private banking, rather it was the banker's
perceived need, (or alternately, and maybe more likely, their conscious
intention), to pursue the present 'policies' of banking that needed
reform.
(John Rawson continues:-) And I want someone who claims they have the
knowledge to stop waffling and answer the question.
(Joe replies:-) I would like to see something
from Douglas more definite on the issue. The quotes Henry provided
could be taken as he has taken them, or not. It is a
question that should be answered, if, indeed, any answer is now
possible.
(John continues:-)
In particular, Hattersley made
proposals that made sense, in his submissionsas circulated a while ago.
A simple "yes" or "no" as to whether these are approved would be a nice
start.
(Joe replies:-) I note that Martin
Hattersley's submission contained a possible answer to another part
of Henry's original post, his question about why it should be any more
inflationary to have the 'government' create credit than the private
banks.
(John continues:-) One thing I am absolutely certain of, whether we
pursue the political path or the people stirring one. Neither can succeed
unless we have understanding of a reasonable influential portion of the
population behind us. And this requires some simple answers that are
readily understandable, not the utterings of a witch-doctor/priesthood cult
trying to make it all as confusing as possible, presumably to retain a
monopoly of the knowledge.
(Joe replies:-) Well, best if we
'Socreds' could all iron out for ourselves just exactly what Douglas
did propose first. As for the 'general public', just getting
them to 'demand results' would be a good start.
Regards. Joe.
Re: [socialcredit]
Reply to this message
