| Subject: | Re: [socialcredit] A brief outline of Social Credit | | Date: | Saturday, March 3, 2007 19:11:11 (-0700) | | From: | Jim <jschroeder @....ca>
|
| In reply to: | Message 4522 (written by william_b_ryan) |
Hi Bill:
I wrote my email to you without even reading anything past the first
sentence in your reply. Comically, or sadly, depending on how you look at
it, we were virtually in complete agreement. I found the first sentence of
your reply so condescending and insulting that I didn't even read the rest
of what you wrote until just recently. I just wanted to let you know
because it seems to be an ongoing "issue".
Sincerely,
Jim
----- Original Message -----
From: <william_b_ryan@yahoo.com>
To: <socialcredit@elistas.com>
Sent: Saturday, March 03, 2007 10:26 AM
Subject: Re: [socialcredit] A brief outline of Social Credit
> Jim, we are trying to have a scholarly discussion
> here. By contrast, the quotation from Douglas is
> pulled from a speech during an electoral campaign, in
> which rather strong rhetoric was utilized, in the
> midst of a Great Depression in which people had every
> reason to be unhappy with the situation. Douglas was
> attempting to rally support to his cause with appeals
> to emotion.
>
> But look at what he actually does, or rather, does not
> say. He does not call for the abolition of the
> fractional reserve system. He does not call for the
> nationalization of banks.
>
> He does call for the imposition of controls over
> banking, in which he specifically calls for crediting
> the public's account for the profits of banking
> remaining after the payment of the six percent
> dividend on subscribed capital, and for the value of
> their assets over and above that showed on their
> balance sheets. This credit would be in offset to
> debt owed to the banks.
>
> Notice that he says that the essence of the fraud was
> their claim to the ownership of the nation's money,
> which means that they had the right, in their minds,
> to determine policy, which at that point had brought
> on the Great Depression, with no end in sight.
>
> I would prefer that banking be regulated as if it were
> a public utility.
> -----------------------------
>
> By the way, beyond the short citations in this
> address, I have not seen Douglas' "suggestions" to
> "the New Zealand Government at the Monetary Commission
> in 1934." Surely there are more complete transcripts
> of what Douglas presented in the public record
> somewhere.
>
>
> --- Jim <jschroeder@shaw.ca> wrote:
>
> Hi Joe:
>
> You state below:
>
> "Rather I've come to think it's often used to create a
> sense of revulsion at what the bank is doing. As if
> it's engaging in something 'fraudulent'."
>
> But if we are operating under a purely 'creditary'
> system now, is there anything 'fraudulent' in what the
> bank does?"
>
> Douglas answers your question in "Dictatorship by
> Taxation":
> --------------------------------
>
> "The essence of the fraud is the claim that the money
> that they create is their own money, and the fraud
> differs in no respect in quality but only in its far
> greater magnitude, from the fraud of counterfeiting.
>
> "At the instigation of the banking system, barbarously
> severe penalties are imposed upon the counterfeiter of
> a ten-shilling note, but a peerage is conferred upon
> the counterfeiter by banking methods of sums running
> into hundreds of millions.
>
> "May I make this point clear beyond all doubt? It is
> the claim to the ownership of money which is the core
> of the matter. Any person or any organization who can
> create practically at will sums of money equivalent to
> the price values of all the goods produced by the
> community is the virtual owner of those goods, and,
> therefore, the claim of the banking system to the
> ownership of the money which it creates is a claim to
> the ownership of the country."
>
> http://www.alor.org/Library/Dictatorshipbytaxation.htm#1a
>
> Take care,
>
> Jim
>
>
>
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