| Subject: | RE: [socialcredit] Economic Democracy | | Date: | Sunday, March 18, 2007 20:21:23 (+0000) | | From: | John G Rawson <johngrawson @.......com>
|
| In reply to: | Message 4584 (written by william_b_ryan) |
Hi. Comment on point 3:
The banks have usurped the right to create the nation's money and claim it as
their own, charging us fees (interest) on it. Why on earth should this situation
not be reversed?
This seems to me to be a much more workable system than demanding that a
state-owned central bank create all new money and provide a proportion of it to
the commercial banks to onlend. For one thing, banks do create new money with
every loan made and used; this second system can only be achieved "in effect".
Regards. John R.
From: <william_b_ryan@yahoo.com>
Reply-To: socialcredit@elistas.com
To:
socialcredit@elistas.com
Subject: [socialcredit] Economic Democracy
Date:
Sun, 18 Mar 2007 10:40:23 -0700 (PDT)
>1. *Economic Democracy* has become
available in
>photocopy at Google
Books
>http://books.google.com/books?vid=0juSVawvP2v1hCtjo4&id=bvUBAAAAMAAJ&pg=PR5&lpg=PR5&dq=%22C.+H.+Douglas%22#PPA1,M1
>and
is easily read online in the full screen mode.
>Our Compendium contains an
introduction to the book by
>Geoffrey
Dobbs.
>http://www.geocities.com/socredus/compendium/dobbs-introduction.txt
>
>2.
Attached in mp3 format playable in Windows Player,
>RealPlayer and similar
programs is the last three
>minutes of William Jennings Bryan's famous "Cross
of
>Gold" speech given to the
Democratic Party Convention
>of 1896, as read by Bryan himself into a microphone
in
>1921.
>
>The significance of Bimetallism from a Social Credit
>standpoint is
its "free coinage of silver" aspect.
>Silver was and is available, ready to be
mined, in
>much greater quantities than gold. Anyone with silver
>bullion would
have had the right to take it to the
>United States Mint, and have it returned to
him in the
>form of silver coinage or silver certificates, which
>would have been
legal tender. As such, it would have
>continuously entered circulation in offset
to bank
>debt, thereby ameliorating the "gap" between "prices"
>and "purchasing
power."
>
>3. March 14, Martin Hattersley wrote:
>
>"Banking could well continue
as at present - but bank
>promises to pay beyond the actual
amount of legal
>tender money they had in their possession would need
>to be
regarded as a draw against the National Credit.
>The banks would be assessed a
fee for so doing, since
>the amount of their credit creation reduces the
amount
>of Dividend/Price Discount otherwise payable to
the
>public."
>--------------------------------------------------
>---------------------------------------------------
>
>I
fail to see what this is intended to accomplish.
>The "fee" is effectively a tax
on the banks, which
>would be passed along inevitably to their customers in
>the
form of increased fees and interest, would it not?
> And how does bank credit
reduce the amount of the
>Dividend/Price Discount otherwise payable to
the
>public?
>
>In *Economic Democracy* Douglas differentiated
between
>"loan credit" and "cash credit," and said that both
>were necessary.
The weakness is on the "cash credit"
>side as demonstrated through his A + B
theorem. Hence
>the necessity for its augmentation through the
>Dividend/Price
Discount.
>
>
>--- Martin Hattersley <hattersleyjm@interbaun.com>
>wrote:
>
>It
seems to me, Joe, that you are missing something.
>When Banks create credit, they
also create debt.
>Credit created by the National Credit Authority would
>not
involve the creation of debt, just as coinage by
>the Mint at the present time is
done without debt.
>Such money would reach the community through devices
>such as
the National Dividend and the Just Price.
>
>Banking could well continue as at
present - but bank
>promises to pay beyond the actual
amount of legal
>tender money they had in their possession would need
>to be
regarded as a draw against the National Credit.
>The banks would be assessed a
fee for so doing, since
>the amount of their credit creation reduces the
amount
>of Dividend/Price Discount otherwise payable to the
>public.
>
>The
result of such a system would be that the nation's
>credit was asserted to belong
to the people, not the
>banks. It would cause quite a revolution in the way
we
>regard the activities of the Banking system!
>
>Martin
Hattersley
>
>
>
>____________________________________________________________________________________
>We
won't tell. Get more on shows you hate to love
>(and love to hate): Yahoo! TV's
Guilty Pleasures
list.
>http://tv.yahoo.com/collections/265
>
>---------------------------------------------------------------------
>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
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><< bryan-excerpt.mp3 >>
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