| Subject: | Re: [socialcredit] compensated price | | Date: | Thursday, November 10, 2005 10:08:03 (-0800) | | From: | William B. Ryan <w_b_ryan @.....com>
|
| In reply to: | Message 3032 (written by Jim) |
I thought the discussion was based on acceptance to
the fact that people turning in receipts for
everything they purchased would be a bureaucratic
mess.
-------------------------------
I don't see why. We've had elaborate check clearing
systems for a century and a half. The sales receipts
from registered firms would be deposited as if they
were checks, but credited at the discount rate. They
would clear back to the National Credit Account and
represent new money infused into the economy.
But it is true that currency has become mostly
obsolete and could be dispensed with rather easily.
Transactions through checks surpassed transactions
through currency by the early nineteen twenties, if
not earlier.
Last year, transactions by "plastic" surpassed
transactions by checks for the first time in history.
--- Jim <jschroeder@shaw.ca> wrote:
Hi Bill:
I thought the discussion was based on acceptance to
the fact that people turning in receipts for
everything they purchased would be a bureaucratic
mess.
But when I think about it, with the advent of debit
cards, it is unnecessary to pay for anything by cash.
Firms could register with a national credit office,
and by computer, any purchase of the firm's product
would result in a credit to the consumer. The banks
would periodically submit these receipts to a National
Credit Office who would credit the banks. There would
be no need to submit receipts, because the computer
would recognize the purchase automatically. And there
would be no need for any of the bureaucracy associated
with rebating the company through some type of
negative tax, or asking individual consumers to submit
receipts for each purchase.
Jim
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