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Re: [socialcredit] W. McGun
Re: [socialcredit] W. McGun
Re: [socialcredit] Kenneth
Re: [socialcredit] Kenneth
Re: [socialcredit] John G R
Re: [socialcredit] Martin H
Re: [socialcredit] Joe Thom
Re: [socialcredit] Peter Ha
Re: [socialcredit] Kenneth
Re: [socialcredit] Joe Thom
Re: [socialcredit] John G R
Re: [socialcredit] Joe Thom
Re: [socialcredit] Wallace
Re: [socialcredit] Peter Ha
Re: [socialcredit] W. McGun
Re: [socialcredit] W. McGun
Re: [socialcredit] Martin H
Re: [socialcredit] Kenneth
Re: [socialcredit] Kenneth
Re: [socialcredit] Kenneth
Re: [socialcredit] Joe Thom
Re: [socialcredit] Keith Wi
Re: [socialcredit] Peter Ha
Re: [socialcredit] Peter Ha
Fed & Stocks Jeffery
Re: [socialcredit] John G R
Re: [socialcredit] John G R
Re: [socialcredit] John G R
Re: [socialcredit] keith wi
Re: [socialcredit] Timothy
Re: [socialcredit] Jeffery
Re: [socialcredit] Kenneth
Re: [socialcredit] Kenneth
Re: [socialcredit] Kenneth
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Re: [socialcredit] Kenneth
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Re: [socialcredit] Adavans
Re: [socialcredit] Peter Ha
Re: [socialcredit] Martin H
Re: [socialcredit] W. McGun
Re: [socialcredit] W. McGun
Re: [socialcredit] W. McGun
Re: [socialcredit] W. McGun
Re: [socialcredit] John G R
Re: [socialcredit] John G R
Re: [socialcredit] Martin H
Re: [socialcredit] Martin H
Re: [socialcredit] Peter Ha
Re: [socialcredit] Kenneth
Re: [socialcredit] W. McGun
Re: [socialcredit] W. McGun
Re: [socialcredit] Joe Thom
madagascar Triumpho
Re: [socialcredit] Peter Ha
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Re: [socialcredit] Kenneth
Re: [socialcredit] John G R
What is a complete François
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Reply to this message
Subject:Re: [socialcredit] Putting it all together
Date:Saturday, January 7, 2006  01:26:00 (+0000)
From:Kenneth Palmerton <kenpalmerton @................uk>

In-Reply-To: <BAY21-F2183F3F8D8E797EE94DC25BD2E0@phx.gbl>
Thank you John for that.

It is amazing just how much interesting, or even valuable information on 
the progress, or otherwise, of monetary reform is inside peoples heads, 
and not written down.

The biggest problem with people is that they have a nasty habit of dying 
off, taking their knowledge with them unrecorded :-(

An example is of a man called Stoll. He was the owner of a string of 
theatres here in the UK. His name kept cropping up in the digging around 
that I am wont to do, but it was incredibly difficult to find any living 
person who had either heard of him, or has any information to contribute.

Eventually I found that he had written a series of books on monetary 
reform, but again, I have not, so far, laid eyes on them.

Again, I think there many other contributors to our body of knowledge in 
the same situation.

Ken.

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From: "John G Rawson" <johngrawson@hotmail.com>
To: socialcredit@elistas.com
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FILETIME=[AC313A00:01C611C3]Subject: Re: [socialcredit] Putting it all 
togetherX-Envelope-To: kenpalmerton@cixcouk.cix.co.uk
X-UIDL: _bAF.V3SvDB.mta02.mx

<html><div style='background-color:'><P>Greetings Ken.</P>
<P>H.J. Kelliher was one of our more prominent industrialists.  I am 
embarassed in that I forget his particular product.</P><P>He ran the 
Mirror Publishing Co, and produced the weekly "Mirror", in which he 
campaigned per editorials for monetary reform.  Once again, I am 
ignorant of the general form of the paper, but it was good enough to 
succeed.</P><P>Her put forward a "loanable funds scheme" to our 1950's 
Royal Commission, the aim of which was to make the banks "borrow to lend". 
The Commission was about as enthusiastic about it as it was about the 
Social Credit submissions.</P><P>Kelliher himself did not appear, but he 
hired a high-powered legal team,  which also helped at times 
to dig out the Social Crediters from some of the traps they walked 
into. The main one was, of course, that they claimed the existence of a 
sizeable "gap" and were confounded by official figures showing exact 
equilibrium. Only some time later did they discover that GNP (as then 
called) was based on returns of income, on the theory that equation 
existed!</P><P>When my daughter Melissa, in her final school year, went 
for the final interview with H.J.K. and one or more of his advisers, 
following presentation of her essay, she went in, as any young girl would, 
with some degree of trepidation.  My wife, (her stepmother) who 
stayed out in the reception room, shortly heard peals of laughter coming 
from the interview room. Obviously, the man had a human side.</P><P>I can 
not give you references to any of his writings, which I think were mainly 
or only per editorials in his paper.  The ultimate resource for 
material of this sort in NZ is our Parliamentary Library, probably per a 
public library for us.</P><P>Regards.    <FONT 
color=#339933 size=4>John R.</FONT></P><BLOCKQUOTE style="PADDING-LEFT: 
5px; MARGIN-LEFT: 5px; BORDER-LEFT: #a0c6e5 2px solid; MARGIN-RIGHT: 
0px"><FONT style="FONT-SIZE: 11px; FONT-FAMILY: tahoma,sans-serif"><HR 
color=#a0c6e5 SIZE=1>From: <I>kenpalmerton@cix.compulink.co.uk (Kenneth 
Palmerton)</I><BR>Reply-To: <I>socialcredit@elistas.com</I><BR>To: 
<I>socialcredit@elistas.com</I><BR>CC: 
<I>kenpalmerton@cix.compulink.co.uk</I><BR>Subject: <I>Re: [socialcredit] 
Putting it all together</I><BR>Date: <I>Wed, 4 Jan 2006 16:01 +0000 
(GMT)</I><BR>>In-Reply-To: 
<BAY21-F4FF116B6FFAAC0415B06EBD2F0@phx.gbl><BR>>Hi 
John.<BR>><BR>>Would you care to tell us a bit more about Kelliher 
please ? I believe I<BR>>have some of his writings somewhere 
here.<BR>><BR>>The name is known to me, but it would be useful to be 
able to put him into<BR>>context from someone who knows 
:-)<BR>><BR>>I think you are right about Soddy and A+B. But then he 
was not alone in<BR>>nearly getting there, but not quite. In fact I 
believe that Keynes himself<BR>>was in that category. He accepted a 
"gap", though only admitted to it<BR>>being in the nature of a 
depreciation figure.<BR>><BR>>As he was a consummate snob there was 
no way he, a hide bound academic<BR>>intellectual, would admit to being 
upstaged by a heretic, and a non<BR>>academic heretic at that 
:-(((<BR>><BR>>I believe Keynes provided the thunder. But it was 
Douglas that gave 
the<BR>>lightening.<BR>><BR>>Ken.<BR>><BR>>-------- 
Original Message 
--------<BR>><BR>>X-Envelope-From:<BR>>socialcredit-return-3301-ke
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<BAY21-F4FF116B6FFAAC0415B06EBD2F0@phx.gbl><BR>>Received: from 
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<004801c61012$818a0640$b86437d2@computer><BR>>From: "John G 
Rawson" <johngrawson@hotmail.com><BR>>To: 
socialcredit@elistas.com<BR>>Date: Wed, 04 Jan 2006 06:02:35 
+0000<BR>>Mime-Version: 1.0<BR>>Content-Type: text/html; 
format=flowed<BR>>X-OriginalArrivalTime: 04 Jan 2006 06:02:36.0241 
(UTC)<BR>>FILETIME=[75E16C10:01C610F4]<BR>>Subject: Re: 
[socialcredit] Putting it all together<BR>>X-Envelope-To: 
kenpalmerton@cixcouk.cix.co.uk<BR>>X-UIDL: 
_lo.Pm5uDB.mta03.mx<BR>><BR>><html><div 
style='background-color:'><P>Bill, it might take a 
little<BR>>finding, but I have a copy of his "Wealth, Virtual Wealth 
and Debt".</P><BR>><P>To me, basically he agreed with 
Douglas but did not accept the A+B<BR>>model.&nbsp; However, he did 
attribute a small "gap" to savings. My<BR>>assessment is that, while 
using different forms of expression, he<BR>>underestimated it and 
Douglas overestimaterd it.</P><BR>><P>Out of interest, when 
Kelliher was running his crusade for monetary<BR>>reform via his paper 
the "Mirror", obviously he was of the Soddy<BR>>school.&nbsp; Using 
this knowledge, I coached two girls at different times<BR>>to win 
Kelliher essay prizes on banking etc., which were valuable to 
their<BR>>university studies.&nbsp; I kept them away from SC, - 
until<BR>>afterwards.&nbsp; One was my daughter Melissa, the other 
a Jewish student.<BR>>The latter became an active member of our Youth 
Section in Whangarei.</P><BR>><P>With our sort of 
knowledge, it was there for the taking every four<BR>>years or so, with 
people trained by ordinary economics teachers missing<BR>>out on what 
Kelliher wanted.&nbsp; But very few kids could be 
bothered.</P><BR>><P>Regards.&nbsp;&nbsp; <FONT 
color=#339933 size=4>John 
R.</FONT></P><BR>><BLOCKQUOTE style="PADDING-LEFT: 5px; 
MARGIN-LEFT: 5px;<BR>>BORDER-LEFT: #a0c6e5 2px solid; MARGIN-RIGHT: 
0px"><FONT<BR>>style="FONT-SIZE: 11px; FONT-FAMILY: 
tahoma,sans-serif"><BR>><HR color=#a0c6e5 SIZE=1><BR>>From: 
<I>"W. McGunnigle" 
&lt;wmcgunn@maxnet.co.nz&gt;</I><BR>Reply-To:<BR>>&l
t;I>socialcredit@elistas.com</I><BR>To:<BR>><I>&
;lt;socialcredit@elistas.com&gt;</I><BR>Subject: 
<I>Re: [socialcredit]<BR>>Putting it all 
together</I><BR>Date: <I>Tue, 3 Jan 2006 
16:05:08<BR>>+1300</I><BR><BR><META 
content="Microsoft SafeHTML" 
name=Generator><BR>><STYLE><BR>></STYLE><BR>><BR>&g
t;<DIV><FONT face=Arial size=2>Hi 
Martin</FONT></DIV><BR>><DIV><FONT 
face=Arial<BR>>size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nb
sp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>>&nbsp;&
;nbsp;&nbsp;&nbsp; Where can I obtain copies of the work 
of<BR>>Professor Soddy? The paper you created in 1988 was of great 
interest to<BR>>me, and followed much of the thinking pattern that 
colours my thoughts on<BR>>the monetary reform matters. 
</FONT></DIV><BR>><DIV><FONT face=Arial 
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; I 
certainly<BR>>agree that the monetary concepts that govern so called 
"modern economics"<BR>>definitely do not cope 
with</FONT>&nbsp;<FONT face=Arial size=2>the 
ever<BR>>increasing debt problem, and its stiffling effect on human 
development.<BR>>Effectively we have a monetary system developed in the 
15th century geared<BR>>to the selfish needs of Italian single city 
states trying to cope with a<BR>>global economy that requires global 
equity of opportunity to&nbsp;access<BR>>finance. The situation is 
unstable, hence we have want and starvation in a<BR>>world of 
plenty.</FONT></DIV><BR>><DIV><FONT face=Arial 
size=2>&nbsp;&nbsp; Bill Mc 
Gunnigle</FONT></DIV><BR>><BLOCKQUOTE 
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px;<BR>>MARGIN-LEFT: 5px; 
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px"><BR>><DIV 
style="FONT: 10pt arial">----- Original Message ----- 
</DIV><BR>><DIV style="BACKGROUND: #e4e4e4; FONT: 10pt arial; 
font-color:<BR>>black"><B>From:</B> <A 
title=hattersleyjm@interbaun.com<BR>>href="mailto:hattersleyjm@interbaun
.com">Martin Hattersley</A> </DIV><BR>><DIV 
style="FONT: 10pt arial"><B>To:</B> <A 
title=socialcredit@elistas.com<BR>>href="mailto:socialcredit@elistas.com
">socialcredit@elistas.com</A> </DIV><BR>><DIV 
style="FONT: 10pt arial"><B>Sent:</B> Monday, January 02, 
2006 1:44<BR>>PM</DIV><BR>><DIV style="FONT: 10pt 
arial"><B>Subject:</B> Re: [socialcredit] Putting<BR>>it 
all 
together</DIV><BR>><DIV><BR></DIV><BR>><DI
V><FONT size=2>Yes, Joe, I sent that paper on Soddy out more for 
his<BR>>discussion of the "J curve", which I think is another way of 
looking at<BR>>A+B, rather than for adopting his ideas holus bolus. 
</FONT></DIV><BR>><DIV><FONT 
size=2></FONT>&nbsp;</DIV><BR>><DIV><FONT 
size=2>There are more ways than one to skin a cat, and<BR>>Douglas's 
price discount is&nbsp; the neatest way of balancing 
production<BR>>with demand, without demanding unnecessary work from 
anyone, that I know<BR>>of&nbsp; - a definitely better 
alternative.</FONT></DIV><BR>><DIV><FONT 
size=2></FONT>&nbsp;</DIV><BR>><DIV>Martin 
Hattersley<BR>1970-10123-99 St., <BR>EDMONTON 
AB<BR>>CANADA<BR>Phone 
(780)423-4081;Fax(780)425-5247<BR>e-mail: 
<A<BR>>href="mailto:hattersleyjm@interbaun.com">hattersleyjm@inter
baun.com</A></DI<BR>>V><BR>><BLOCKQUOTE 
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px;<BR>>MARGIN-LEFT: 5px; 
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px"><BR>><DIV 
style="FONT: 10pt arial">----- Original Message ----- 
</DIV><BR>><DIV style="BACKGROUND: #e4e4e4; FONT: 10pt arial; 
font-color:<BR>>black"><B>From:</B> <A 
title=thomsonhiyu@shaw.ca<BR>>href="mailto:thomsonhiyu@shaw.ca">Joe 
Thomson</A> </DIV><BR>><DIV style="FONT: 10pt 
arial"><B>To:</B> <A 
title=socialcredit@elistas.com<BR>>href="mailto:socialcredit@elistas.com
">socialcredit@elistas.com</A> </DIV><BR>><DIV 
style="FONT: 10pt arial"><B>Sent:</B> Saturday, December 
31, 2005<BR>>10:31 PM</DIV><BR>><DIV style="FONT: 10pt 
arial"><B>Subject:</B> Re: [socialcredit] Putting<BR>>it 
all 
together</DIV><BR>><DIV><BR></DIV><BR>><DI
V><FONT face=Arial>That's a&nbsp;very interesting 
paper,<BR>>Martin,&nbsp;as are all your pieces. 
&nbsp;Thanks.&nbsp;&nbsp;I don't<BR>>think it hurts to 
explore some of the ideas of others in comparison to<BR>>those 
of&nbsp;Douglas.&nbsp; 
&nbsp;</FONT></DIV><BR>><DIV><FONT 
face=Arial></FONT>&nbsp;</DIV><BR>><DIV><FON
T face=Arial>In Soddy I&nbsp;see some similarities with 
Douglas,<BR>>but different terminology and concepts.&nbsp; And 
objective. Soddy seems<BR>>to be more in favour of a 'stable price 
level' than a constantly 
'falling'<BR>>one.&nbsp;&nbsp;&nbsp;&nbsp;As Douglas 
envisioned through an application<BR>>&nbsp;of 
credit&nbsp;enabling all the benefits of continually 
advancing<BR>>technology to be accessed&nbsp;'financially' by 
consumers in the provision<BR>>of desired product, As well 
as&nbsp;provision 
for&nbsp;increased<BR>>leisure&nbsp;.&nbsp; 
</FONT></DIV><BR>><DIV><FONT 
face=Arial></FONT>&nbsp;</DIV><BR>><DIV><FON
T face=Arial>Soddy seems to prefer 'government' creating 
credit<BR>>for spending on infrastructure rather than new debt-free 
'consumer'<BR>>credits to individuals.&nbsp; Is this a large part 
of the<BR>>reason&nbsp;why&nbsp;many find 
'government'&nbsp; infrastructure spending<BR>>in&nbsp;a slump 
so attractive?&nbsp; To try to keep up the 
price<BR>>level?&nbsp; </FONT></DIV><DIV><FONT 
face=Arial></FONT>&nbsp;</DIV><BR>><DIV><FON
T face=Arial>I guess it's difficult for many to 
initially<BR>>&nbsp;envision how 'consumer' goods could be sold for 
less than financial<BR>>cost on an ongoing basis without businesses 
being<BR>>ruined,&nbsp;&nbsp;Simply through&nbsp;the 
employment&nbsp;of a<BR>>&nbsp;different technique of 
credit.&nbsp;&nbsp;But&nbsp;I think<BR>>&nbsp;true 
'consumer' demand made ''effective demand'' 
would&nbsp;then<BR>>&nbsp;create renewed economic activity far 
more effectively than<BR>>'infrastructure spending' pump priming ever 
will.&nbsp;</FONT></DIV><BR>><DIV><FONT 
face=Arial></FONT>&nbsp;</DIV><BR>><DIV><FON
T face=Arial>&nbsp;I've nothing against 'needed' 
infrastructure<BR>>being built, but not as 'make work' projects to 
provide an unnecessary<BR>>'moral' reason for paying&nbsp;people an 
'income'.&nbsp;&nbsp;As well as<BR>>a&nbsp;&nbsp;means 
of keeping&nbsp;them 'under control'. 
</FONT></DIV><BR>><DIV><FONT 
face=Arial></FONT>&nbsp;</DIV><BR>><DIV><FON
T face=Arial>Soddy&nbsp; sounds like a bit of a 'puritan' to 
me<BR>>in that regard~ he seems &nbsp;concerned&nbsp;to keep 
everyone<BR>>'working'.&nbsp;&nbsp;The goal of a 
&nbsp;triumph of the individual's<BR>>'will-to-freedom'&nbsp; 
over the 'will-to-power' externally imposed<BR>>economically on 
him,&nbsp;something&nbsp;&nbsp;so prevalent in 
Douglas,<BR>>&nbsp;seems to be absent with 
Soddy.&nbsp;&nbsp;</FONT></DIV><BR>><DIV><F
ONT 
face=Arial></FONT>&nbsp;</DIV><BR>><DIV><FON
T face=Arial>&nbsp;I get the impression from what you've 
written<BR>>and quoted he thinks&nbsp; the 'government' 
knows<BR>>best.&nbsp;&nbsp;Personally, &nbsp;I think once 
we get Douglas completely<BR>>figured out, &nbsp;Soddy will best 
remain remembered for 
discovering<BR>>isotopes.</FONT></DIV><DIV><FONT 
face=Arial></FONT>&nbsp;</DIV><BR>><DIV><FON
T 
face=Arial>Joe</FONT></DIV><BR>><DIV>&nbsp;<
/DIV><BR>><DIV>----- Original Message ----- 
</DIV><BR>><BLOCKQUOTE style="PADDING-RIGHT: 0px; 
PADDING-LEFT: 5px;<BR>>MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px 
solid; MARGIN-RIGHT: 0px"><BR>><DIV style="BACKGROUND: #e4e4e4; 
FONT: 10pt arial; font-color:<BR>>black"><B>From:</B> 
<A 
title=hattersleyjm@interbaun.com<BR>>href="mailto:hattersleyjm@interbaun
.com">Martin Hattersley</A> </DIV><BR>><DIV 
style="FONT: 10pt arial"><B>To:</B> <A 
title=socialcredit@elistas.com<BR>>href="mailto:socialcredit@elistas.com
">socialcredit@elistas.com</A> </DIV><BR>><DIV 
style="FONT: 10pt arial"><B>Sent:</B> Thursday, December 
29, 2005<BR>>7:02 PM</DIV><BR>><DIV style="FONT: 10pt 
arial"><B>Subject:</B> Re: [socialcredit] Putting<BR>>it 
all together</DIV><BR>><DIV><BR></DIV>I'm 
attaching a paper I did a while back on the late<BR>>Professor Soddy 
for the <BR>Eastern Economics Association. I think 
Soddy's<BR>>description of the "J curve" <BR>phenomenon 
essentially describes the<BR>>problem we have to 
tackle.<BR><BR>Martin 
Hattersley<BR>1970-10123-99<BR>>St.,<BR>EDMONTON AB 
CANADA<BR>Phone<BR>>(780)423-4081;Fax(780)425-5247<BR>e-mail
: 
<A<BR>>href="mailto:hattersleyjm@interbaun.com">hattersleyjm@inter
baun.com</A><BR><BR>>----- Original Message ----- 
<BR>From: "Joe 
Thomson"<BR>>&lt;thomsonhiyu@shaw.ca&gt;<BR>To:<BR>>&am
p;lt;socialcredit@elistas.com&gt;<BR>Sent: Thursday, December 
29, 2005 9:35<BR>>AM<BR>Subject: Re: [socialcredit] Putting it 
all together<BR><BR><BR>&gt;I<BR>>agree with a 
great deal of what Martin has written identifying 
the<BR>&gt;<BR>>problems, but I do not fully concur with some 
of the solutions.&nbsp; This<BR>>may<BR>&gt; well be due 
to a lack of knowledge on my part, or that I'm<BR>>reading into 
<BR>&gt; what<BR>&gt; Martin's proposing something 
that isn't<BR>>intended by him.&nbsp; But there are 
<BR>&gt; some<BR>&gt; concerns I have<BR>>with some 
of what's proposed nevertheless.&nbsp; I'll come 
back<BR>&gt; to<BR>>them later, but for the moment I'd like 
to comment on just<BR>>this.<BR>&gt;<BR>&gt; 
(Martin wrote:-)&nbsp; &gt; 5. What this initial<BR>>expression 
of the theorem omitted<BR>&gt; was the fact 
that<BR>&gt;&gt;<BR>>certain industries distribute wages 
to their workers, while not<BR>>putting<BR>&gt;&gt; goods 
on the market for immediate sale to consumers.<BR>>These are 
the<BR>&gt; factories<BR>&gt;&gt; that make the 
tools that<BR>>workers will later use to turn out 
actual<BR>&gt; products.<BR>&gt;&gt;<BR>>While 
this new capital formation is taking place, its 
distribution<BR>>of<BR>&gt; funds<BR>&gt;&gt; 
to consumers in wages and dividends,<BR>>particularly when financed by 
newly<BR>&gt;&gt; created bank credit,<BR>>serves as a 
form of National Dividend that makes it<BR>&gt;&gt; 
possible<BR>>for the consuming public to buy all that is on the market 
for<BR>&gt;<BR>>sale,<BR>&gt;&gt; without 
producers being forced to sell 
below<BR>>cost.<BR>&gt;<BR>&gt; (Joe 
replies:-)&nbsp; There is a quote in one of the<BR>>early Douglas 
books that<BR>&gt; remarks&nbsp; " ....just as 
the<BR>>construction of a new railway bridge raises 
the<BR>&gt; price of bacon in<BR>>a village shop."&nbsp; 
While there is no doubt that 'newly<BR>&gt; created<BR>>bank 
credit' to finance new works serves as you say, however it 
is<BR>&gt;<BR>>also, I think, true what Douglas 
says.<BR>&gt;<BR>&gt; He notes that the<BR>>upper 
limit of price is governed roughly by the <BR>&gt; 
'quantity<BR>&gt;<BR>>theory of money'. The lower by 
financial 'cost'.&nbsp; If there's 
'more<BR>>money<BR>&gt; about' the merchant is going to try 
and get 'more' of<BR>>it.&nbsp;&nbsp; He has to, 
if<BR>&gt; he's to stay in business.&nbsp;<BR>>Simply 
because the fact there IS 'more money<BR>&gt; about' has 
diluted<BR>>the purchasing power of ALL money 
about.<BR>&gt;<BR>&gt; He is selling in<BR>>the 
hopes of making a profit. The same as a bank lends at<BR>&gt; 
interest<BR>>in hopes of the same.&nbsp; But money is variable in 
what it will <BR>&gt;<BR>>'buy',<BR>&gt; 
and&nbsp; he has to continually replace and, if selling<BR>>more, 
increase, his <BR>&gt; stock<BR>&gt; in 
trade.&nbsp; (Just as a bank<BR>>has to increase its 'stock', its 
'deposits' or<BR>&gt; whatever else we've<BR>>been foolish 
enough to allow it to use as its <BR>&gt; 
reserves,<BR>&gt;<BR>>if it wants to lend 'more'. There is a 
'cost' to doing this ~ banks<BR>>'pay'<BR>&gt; interest as 
well as receive it. And 'more' interest when<BR>>they want 
more<BR>&gt; deposits.)<BR>&gt;<BR>&gt; If 
the stock the<BR>>merchant buys has risen in price, what he might have 
<BR>&gt;<BR>>taken<BR>&gt; for himself in profit is 
diminished.&nbsp; It goes back to<BR>>fund the new stock, 
<BR>&gt; or<BR>&gt; he has to take out a 
larger<BR>>overdraft to do so.&nbsp; His sales may be 
rising,<BR>&gt; and so in terms<BR>>of dollars may be his 
profit.&nbsp; But the RATE of profit in<BR>&gt;<BR>>ratio 
to that increase in&nbsp; sales taken over&nbsp; time is 
in<BR>>continuing <BR>&gt; decline.<BR>&gt; 
'Interest' and 'profit', considered<BR>>in the business sense, are 
exactly the<BR>&gt; same.&nbsp; One of the<BR>>components 
of 'interest', as we've seen, is allowance <BR>&gt; 
for<BR>&gt;<BR>>'inflation'.&nbsp; One of the components 
of 'profit' would likely then<BR>>have to <BR>&gt; 
be<BR>&gt; the same.&nbsp; It is why I believe 
Douglas<BR>>noted that "large works on <BR>&gt; 
completion<BR>&gt; are paid for by an<BR>>expansion of 
credit."&nbsp; The words "on completion" imply<BR>&gt; 
there<BR>>must be a FURTHER expansion of credit beyond that which took 
place<BR>><BR>&gt; to<BR>&gt; initiate the 
construction of those 'large<BR>>works'.&nbsp; The 'inflation' 
is<BR>&gt; continuous, and the community<BR>>pays for its 
progress twice.&nbsp; Unless there <BR>&gt; 
is<BR>&gt; an<BR>>implimentation of the SC prescription, 
whereupon we can finally begin<BR>><BR>&gt; 
to<BR>&gt; enjoy as consumers the fruits of progress at 
the<BR>>proper decline in overall<BR>&gt; retail prices that 
capital appreciation<BR>>should have&nbsp; brought 
about.<BR>&gt;<BR>&gt;<BR>>-------------------------
--------------------------------------------<BR>&g<BR>>t; 
Some introductory<BR>>materials to the discussion topic of this list 
are 
at<BR>&gt;<BR>>http://www.geocities.com/socredus/compendium<
;BR>&gt; You're subscribed to<BR>>this list with the email 
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BR>&gt;<BR>&gt; --<BR>><BR>&gt; No 
virus<BR>>found in this incoming message.<BR>&gt; Checked by 
AVG Free<BR>>Edition.<BR>&gt; Version: 7.1.371 / Virus 
Database: 267.14.9/216 - Release<BR>>Date: 
29/12/2005<BR>&gt;<BR>&gt;<BR>><BR><BR>&
lt;BR>---------------------------------------------------------------<BR
>>------<BR>Some<BR>>introductory materials to the discussion 
topic of this list 
are<BR>>at<BR>http://www.geocities.com/socredus/compendium<;BR&g
t;You're subscribed<BR>>to this list with the email 
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<HR><BR>><BR>><P></P>No virus found in this 
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Free<BR>>Edition.<BR>Version: 7.1.371 / Virus Database: 
267.14.9/216 - 
Release<BR>>Date:<BR>>29/12/2005<BR><BR><BR>-------
----------------------------------------------<BR>>----------------<B
R>Som<BR>>e introductory materials to the discussion topic of this 
list 
are<BR>>at<BR>http://www.geocities.com/socredus/compendium<;BR&g
t;You're subscribed<BR>>to this list with the email 
thomsonhiyu@shaw.ca<BR>For more information,<BR>>visit 
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t;<P><PRE>-----------------------------------------------------
--------------<BR>>--<BR>>Some introductory materials to 
the discussion topic of this list are 
at<BR>>http://www.geocities.com/socredus/compendium<;BR>>You're 
subscribed to this list with the email 
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><BR>><P><BR>><P><BR>><HR><BR>><BR>><
;P></P>No virus found in this incoming message.<BR>Checked 
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267.14.10/218 - Release<BR>>Date: 
02/01/2006<BR></BLOCKQUOTE><BR>><P><PRE>--------
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t;Some introductory materials to the discussion topic of this list are 
at<BR>>http://www.geocities.com/socredus/compendium<;BR>>You're 
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><BR>><P><BR>><P><BR>><HR><BR>><BR>><
;P></P>No virus found in this outgoing message.<BR>Checked 
by AVG Free<BR>>Edition.<BR>Version: 7.1.371 / Virus Database: 
267.14.10/218 - 
Release<BR>>Date:<BR>>02/01/2006<BR><BR><BR>-------
----------------------------------------------<BR>>----------------<B
R>Som<BR>>e introductory materials to the discussion topic of this 
list 
are<BR>>at<BR>http://www.geocities.com/socredus/compendium<;BR&g
t;You're subscribed<BR>>to this list with the email 
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t;<P><PRE>-----------------------------------------------------
--------------<BR>>--<BR>>Some introductory materials to the 
discussion topic of this list are 
at<BR>>http://www.geocities.com/socredus/compendium<;BR>>You're 
subscribed to this list with the email johngrawson@hotmail.com<BR>>For 
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><BR>><P><BR></FONT></P></BLOCKQUOTE>&l
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