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Message 3551
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| Subject: | Re: [socialcredit] Costs? | | Date: | Thursday, March 2, 2006 23:46:14 (-0800) | | From: | Joe Thomson <thomsonhiyu @....ca>
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(Joe Thomson wrote:-) You do realize that the modern economy is
'creditary', do you not? I ask this because from reading what you've
written, and also some of the material on your website, an impression can
be gleaned that you do not.
>
(Jeff Smith replies:-) Sorry about the misimpression. The need for credit
does arise. It's not possible for the need to be ever present, rather than
seasonal or
occasional, or it could never be paid off.
(Joe replies:-) How do you think 'money' comes into existence, Jeff? You're
probably going tell me it's printed by the Federal Reserve, or coined by the
US Mint. Or maybe printed up as some kind of a 'community currency'.
But whether you are using United States Federal Reserve Bank notes, metallic
coins from the US Mint, corporate 'scrip' or tokens, as were often used in
the old days of 'Company towns' and the 'Company store', or your much
vaunted 'community currencies' like LETS ''Green Dollars'', "Ithaca Hours",
etc., these things are all just symbols of what? "Credit", no?
All 'money' is 'credit', Jeff. And you say, and rightly so, that "the need
for credit does arise." You bet it does. Just watch what happens when that
'need' isn't satiated. When that 'credit' isn't made sufficiently available
in a tangible form that's completely acceptable.
These forms of money, whatever the extent of their acceptance, are all
essentially 'contracts for future performance', are they not? What would we
do if we did not have such 'contracts for future performance'? How would we
'trade', assuming that we see some mutual advantage in trading? Simply by
'barter'? My 'stuff' for your stuff'? How would we 'account' fairly for
our exchanges? Wouldn't we be a bit limited in accessing things we might
need, that were otherwise in existence and available, if what we had to
offer in exchange either wasn't available yet, or wasn't needed or wanted by
the other party just yet?
.(Jeff continues:-) That's the impression you
create when you belabor the point of credit being needed.
(Joe replies:-) Try and do without it. The world as we know it would be
far, far different, and most of us who are presently inhabiting it simply
wouldn't be here.
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