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Message 3557
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In-Reply-To: <002501c63fd2$62653600$6500a8c0@HAINESCOMPUTER>
Hi Peter.
You are right about the August 1914 panic in the UK that should have
shattered for ever the fallacy of Gold.
It is a story that should be better known, and understood.
The "rush" on the banks was actually quite minor, when it was all over the
figures showed that panic was really not an appropriate thing for the
banks to have done, but it DOES show how vulnerable they think themselves,
despite all their "Probity, Probity, Probity. " :-)))
The panicking banking system turned to the Government, who immediately
suspended the 1844 Bank Charter Act, and made such things as postal
orders, and postage stamps into legal tender. As it was a bank holiday,
the Government extended this by a further three days and issued Treasury
notes, with the Kings head upon them, a first in the UK.
These were GIVEN to the banks to issue as legal tender, and they were not
withdrawn until 1928. ALL PANIC CEASED IMMEDIATELY. And the nation got on
with the job of fighting a war :-(((
For me this demonstrates, most adequately that it is NOT the much vaunted
banking system, and their mythology of gold that stands behind, and gives
value to the money we use. But the ability of the PEOPLE, through their
Government, and the wealth they are able to create that stands behind
money.
I have a theory, which I have not been able to prove, that this "panic"
was foreseen. It takes, I think, a bit more than Three days for such
action to be put in place, the amount of printing was quite considerable,
and bureaucrats are not normally so alert, are they ?
Ken.
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<002501c63fd2$62653600$6500a8c0@HAINESCOMPUTER>From: "Peter Haines"
<cymric@xtra.co.nz>To: <socialcredit@elistas.com>
References: <memo.446588@cix.compulink.co.uk>
Date: Sun, 5 Mar 2006 10:27:04 +1300
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Subject: Re: [socialcredit] Demand effective
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I agree Ken, and Joe was right.
Someone has claimed that the gold reserves of the know world were
surpassed by US debt at the end of world war two, I think it was.
Gold security is an illusion to fool the public into thinking that a
banking system is safe, 1914 proved it wrong when there was a run on the
banks in England. The great lie was exposed then.
Once gold has been captured by debt then the gold could simply inflate in
value to match the money supply and then infinity will feel something on
its heels. However that probably wont happen because the global plans are
to wind down the world industry and population so an independant gold
standard would be appropriate, and please the Von Mises crowd and many
others. I.E. its not a remedy for mankind.
Peter H
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From: "Kenneth Palmerton" <kenpalmerton@cix.compulink.co.uk>
To: <socialcredit@elistas.com>
Cc: <kenpalmerton@cix.compulink.co.uk>
Sent: Saturday, March 04, 2006 2:47 AM
Subject: Re: [socialcredit] Demand effective
> In-Reply-To: <2b21814885e1569e2d549ed4a736cde3@geonomics.org>
> Sorry Jeffrey, but the stock of Gold coins is most definitely finite.
>
> That is the fallacy of Gold as a backing for wealth :-(((
>
> Ken.
>
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7bitFrom: Jeffery Smith <jjs@geonomics.org>
> Date: Thu, 2 Mar 2006 11:52:40 -0800
> To: socialcredit@elistas.com
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> Subject: [socialcredit] Demand effective
> X-Envelope-To: kenpalmerton@cixcouk.cix.co.uk
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>
> On Mar 2, 2006, at 8:35 AM, Joe Thomson wrote:
>>
>> (Jeff Smith replied:-) Wasn't exactly scare before then, just hoarded.
>>
>> (Joe comments:-) Yes, and look at HOW it was hoarded. By the
>> imposition of a 'tax' on the LAND ITSELF
>
> Please cite a time and place. Typically, hoarding land occurs where
> taxing land is absent. The introduction of a tax on land value has
> always broken up latifundia.
>
>> (Joe:-) Then why don't we do just that. A 'site tax' on property
>
> You equate site with property, ignoring many intervening steps. Cite
> some please.
>
>> Far better to share 'society's surplus' by making consumer demand
>> 'effective demand' up to the limits of its satiation, or the full
>> capability of production.
>
> It's not either or but both and. Demand is made effective by getting a
> share of recovered "rents" and the cost of land is kept from inflating
> by landowners paying land dues, keeping them in competition among
> themselves, precluding both hoarding and speculation.
>
>> If you operated under a predominantly 'gold coin' money system and you
>> repeatedly lent gold coins 'at interest', each time getting back more
>> than you'd parted with, you would, mathematically, eventually come
>> into possession of all the gold coins.
>
> Assuming the quantity of gold coins to be finite, which they are not.
>
> SMITH, Jeffery J., President, Forum on Geonomics
> 7536 SE Milwaukie Av, Portland Oregon 97202 USA
> 503/232-1337; jjs@geonomics.org; www.geonomics.org
> Share Earth's worth to prosper and conserve.
>
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>
>
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