In-Reply-To: <003301c640eb$1b7df690$6500a8c0@HAINESCOMPUTER>
Hi Peter.
It was indeed a very interesting lesson, with much more of relevance to be
said.
For instance, war funding was "managed" through the banks lending the
money to be "invested" at one per cent less than the yield from the
treasury. A handy little scam that only depended upon the banks approval
of a borrower to allow a more or less guaranteed rake off. To both.
The National Debt in that war time period rocketed. With the actions of
Keynes in the second round of war aimed specifically at this not being
repeated.
After the armistice in 1918 the attempt was made to return to the "Gold
Standard" AT PRE WAR PARITY. As a result of the Cunliffe report, that was
stuffed with bankers :-(
Of course the deflation that resulted was a major cause of the subsequent
crash.
Do we learn NOTHING :-(((
Ken.
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<003301c640eb$1b7df690$6500a8c0@HAINESCOMPUTER>From: "Peter Haines"
<cymric@xtra.co.nz>To: <socialcredit@elistas.com>
References: <memo.520661@cix.compulink.co.uk>
Date: Mon, 6 Mar 2006 19:56:34 +1300
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Subject: Re: [socialcredit] Demand effective
X-Envelope-To: kenpalmerton@cixcouk.cix.co.uk
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Howdy Ken,
That is very interesting and worthy of thought. I would say it was the
'banks' panicing the polies, which takes for granted the foreknowedge,
gets rid of an Act and at the same time reinforces to the polies how they
depend on such experts as the bankers to 'save' them ( again). The great
reward was that the govt supplied security and left the banks to control
the paper when it should have been the security supplier.
What's that, three birds with one stone?
And the end of the role of gold was in sight surely and the war would have
speeded that up.
I guess Treasury notes meant that national debt was thus more elastic and
could be stretched so much further. Bit like giving them more rope to
hang themselves with.
Peter H
----- Original Message -----
From: "Kenneth Palmerton" <kenpalmerton@cix.compulink.co.uk>
To: <socialcredit@elistas.com>
Cc: <kenpalmerton@cix.compulink.co.uk>
Sent: Monday, March 06, 2006 5:01 AM
Subject: Re: [socialcredit] Demand effective
> 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.
>
> -------- Original Message --------
>
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for> <socialcredit@elistas.com>; Sun, 5 Mar 2006 10:27:06 +1300Message-ID:
> <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
> X-Envelope-To: kenpalmerton@cixcouk.cix.co.uk
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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
> ----- Original Message -----
> 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.
>>
>> -------- Original Message --------
>>
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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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