eListas - My Lists: socialcredit: Messages

But note that he referred to their "monopoly", not their ability to create credit/money. And if you think clearly, it just might be impossible to stop banks creating money. But the process certainly needs a lot more control or competition, depending on your poiltical philosophy.

Regards. John R.

From: "Peter" <cymric@xtra.co.nz>
Reply-To: socialcredit@elistas.com
To: <socialcredit@elistas.com>
Subject: Re: [socialcredit] A brief outline of Social Credit
Date: Tue, 6 Mar 2007 07:18:57 +1300
>There was an excerpt from Douglas posted some months back which
>disclosed the need to retrieve the power over the nations credit
>from the private banking monopoly. The first and last paragraphs
>were quite explicite.
>I responded at the time and pointed this out- referring to the two
>paragraphs and no one responded ( which didnt surprise me).
>PeterH
>
>----- Original Message ----- From: "Joe Thomson"
><thomsonhiyu@shaw.ca>
>To: <socialcredit@elistas.com>
>Sent: Thursday, March 01, 2007 4:45 PM
>Subject: Re: [socialcredit] A brief outline of Social Credit
>
>
>>(From Vic's "Outline":-) "It must be remembered that the banks
>>have
>>discretionary powers to call in loans and overdrafts even before
>>the goods
>>they brought into existence have been sold, and they sometimes
>>exercise this
>>power with
>>disastrous effects on the community."
>>
>>(Joe asks:-) How much financing is still done this way, where the
>>loan is
>>subject to 'call'? Would it be substantially more or less than
>>loans that
>>are issued for a definite term? Ones that could not be 'called'
>>so long as
>>the terms of the loan agreement were being adhered to?
>>
>>In the case that one bank were to 'call' a loan, (of a firm that
>>was
>>fundamentally financially sound, for reasons known only unto the
>>bank),
>>could not that firm generally secure another loan from another
>>bank?
>>
>>I have seen some evidence that this has been the case here in
>>Canada (one
>>instance is recounted in the book "The Acquisitors" by noted author
>>Peter C
>>Newman, in a chapter on well-known (here, anyways) Vancouver
>>Island lumber
>>entrepreneur H. S. Doman and Doman Industries Ltd..
>>
>>Where, early in his firm's life as a trucking and milling company,
>>the CIBC
>>'called' Doman's loan, even though the firm was 'sound' and was
>>always
>>current on its payments. He quickly got another loan from Royal
>>Bank of
>>Canada, paid off CIBC, and went on to undoubtedly make millions for
>>the RBC
>>over the next three decades.)
>>
>>(From Vic's piece:-) "The first step will be the establishment of
>>a
>>National
>>Credit Authority to take complete control of the money system and
>>put the
>>affairs of the nation on a proper accountancy basis. This would
>>restore
>>money power to the people and do away with the monopoly of credit
>>by private
>>interests."
>>
>>(Joe replies:-) I realize that this piece is intended for the
>>readers of
>>the "Michael" Journal, and so the way in which some things are
>>phrased or
>>inferred may be designed not to alienate them from their present
>>perceptions
>>of 'Social Credit'.
>>
>>They are now the main SC group left in Canada. And certainly
>>closer to
>>some of Douglas's ideas in what they advocate than either of the
>>two
>>'political party' SC groups left here currently are. (The one here
>>in BC
>>seeming to want to believe SC history began in 1949, and Douglas is
>>a
>>complete non-entity.).
>>
>>It seems to me, anyways, from reading some of the "Michael"
>>publications I
>>have, ones they used to occasionally mail out across the
>>Dominion, that
>>they focus considerabley on the "evils" of interest. And a desire
>>to have
>>the 'government' ''take complete control of the money system".
>>Only in
>>ways in which I believe C H Douglas would hardly have approved.
>>
>>I really do not see why what is supposed to be a 'statistical
>>agency' has to
>>be made into what I think could not help but being a 'political'
>>one.
>>
>>Correct me if I'm wrong, please, but isn't it a case that the
>>'problem' is
>>not 'debt' itself, but that under the current arrangements 'debt'
>>cannot be
>>totally liquidated? Why do we have to have an all powerful NCA to
>>correct
>>that?
>>
>>Now I recall asking Vic about this once before, quite some time
>>ago. What
>>I've called before the "recurring question", and where in Douglas
>>could I
>>find that he specifically advocates having the 'government' "take
>>complete
>>control of the money system." And as I remember he replied that it
>>was an
>>area in which Douglas wasn't too specific about details, but what
>>was
>>advocated could be a 'method' which might be used. And I suppose
>>it could
>>be. But I'm not yet convinced there wouldn't be considerable
>>disadvantages
>>and dangers in going that route. But i'm not closed minded about
>>it, so if
>>anyone knows good reasons 'why', I'd sure like to hear them.
>>
>>---------------------------------------------------------------------
>>Some introductory materials to the discussion topic of this list
>>are at
>>http://www.geocities.com/socredus/compendium
>>You're subscribed to this list with the email cymric@xtra.co.nz
>>For more information, visit
>>http://www.eListas.com/list/socialcredit
>>
>
>
>---------------------------------------------------------------------
>Some introductory materials to the discussion topic of this list are
>at
>http://www.geocities.com/socredus/compendium
>You're subscribed to this list with the email
>johngrawson@hotmail.com
>For more information, visit http://www.eListas.com/list/socialcredit

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