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Hi John
I
think I may have mentioned this to you before but don't remember putting it over
the net.
The Union Provident
Fund in Singapore is the general superannuation fund for all Singaporean
employees both private and public. It is a compulsory savings scheme required by
the government, but not controlled by the government. It not only provides a
vast funding reserve for everyone's pensions, but can be borrowed against to
provide mortgages for housing at reasonable rates. The government can also
borrow from the fund to obtain the necessary finances for infrastructure
developement in Singapore that serves a secondary purpose of providing
employment in times of economic slowdown. It was copied by Malaysia and provides
a monetary reserve that cannot be touched by the IMF or World Bank. It is one of
the reasons why those two governments can "cock a snook" at those two
organisations over international trade. The reserves in the Union Provident
Fund cannot be invested outside of Singapore. I think this a practical example
supporting your ideas.
Bill Mc Gunnigle
----- Original Message -----
Sent: Wednesday, December 21, 2005 11:47
AM
Subject: RE: Fw: [socialcredit] Swanwick
2
I think it is fairly clear that Douglas, at the time he was writing, saw
savings as reductions of the purchasing power of the people, and therefore
condemned them. Why he did this instead of seeing them as a reason to
put more money into circulation per the other means he envisaged is a
mystery to me.
Our first Labour Govt. saw it the same way, encouraging people to spend and
promising to look after them "from the cradle to the grave".
Times change and I agree with you.
Regards. John R.
From: "Martin Hattersley"
<hattersleyjm@interbaun.com>
Reply-To:
socialcredit@elistas.com
To:
<socialcredit@elistas.com>
Subject: Fw: [socialcredit]
Swanwick 2
Date: Sun, 18 Dec 2005 19:16:11 -0700
Sent: Saturday, December 17, 2005 9:08 PM
Subject: Re: [socialcredit] Swanwick 2
My own view is that, far from being an economic downer,
capital investment financed by savings is in fact a very sound way of going
about things.
If we spend, say four years in building the "Titanic", we
distribute incomes to workers and suppliers for that four year period, so
withdrawing other goods and services from the market, without putting any
product of value on the market. If financed by new credit, that is an
inflationary thing to do. If financed by savings, it simply means that
consumer buying power in total has been redistributed from the investor to
the workers and suppliers, with no inflationary effect.
The moment that the "Titanic" sails (and assuming that it
doen't sink on its maiden voyage), there's increased goods and services
available to the public (including laid-off shipbuilders), which is every
justification for increasing the money supply through a debt free National
Dividend.
If the "Titanic" sinks, of course, assuming it has been
financed through savings, all that happens is that its investors (or their
insurers) lose their money.
Comments?
----- Original Message -----
Sent: Thursday, December 15, 2005
3:12 PM
Subject: RE: [socialcredit] Swanwick
2
Alright. Let's pursue this further.
I have (yes, more than once) in my small flower production business,
developed a new calla (Zantedeschia vars.) which may sweep the market, or
may simply drop out of ken because of changing fashions. Or the
tubers may all turn out to be "rotters" and nearly all simply disappear in
their third season. I need about $10,000 (minimum) to propagate it in
large numbers sufficient to make some sort of impact. And I am not
allowed to risk my own capital.
Do I go to one of the banks and demand, by right of being a citizen, a
loan of this amount? If not, how the blazes to I persuade my bank
manager to fund this very risky project? Must I mortgage my
property, which surely would be tantamount to using savings?
Moral: Douglas' analysis of the economic system was absolutely
brilliant. His antisemitism, though very fashionable at the time was
at the very least irresponsible. Where, in the spectrum of his dicta do we
draw the line; at this last point, or a bit sooner in relation to
some of his ideas in between? I simply don't buy the superstitious
approach of many Scoial Crediters who believe that he must be treated as
completely infallible; that his pronouncements should not be
subjected to reasonable analysis, particularly in view of changed
circumstances. (We no longer live in slump time, for example.)
This ossified and unreasoning approach is one of our weaknesses, every
bit as dangerous as subtle movement away from his obviously valid
ideas.
Bill, if you do close down, please accept my thanks for riding herd on
these discussions to date. I'm sure I have annoyed a few people
in the process, but I have gained an immense amount of valuable
information from it, as well as sorting out my own ideas for practical
use.
Regards. John R.
From: Triumphofthepast@aol.com
Reply-To:
socialcredit@elistas.com
To:
socialcredit@elistas.com
Subject: [socialcredit] Swanwick
2
Date: Thu, 15 Dec 2005 12:08:57 EST
"That
the credits required to finance production shall be supplied, not from
savings, but be new credits relating to new production." Both John and Joe suggest this means "the aforementioned credits
required to LIQUIDATE production." I don't see how it could.
Worse, he would now be saying that savings SHALL NOT be used to buy
consumer goods and services!
Michael
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