| Subject: | Re: [socialcredit] Economic Democracy | | Date: | Monday, March 19, 2007 08:14:53 (-0600) | | From: | Martin Hattersley <hattersleyjm @.........com>
|
| In reply to: | Message 4586 (written by Joe Thomson) |
Regarding the idea of the banks being allowed to "make a draw against the
National Credit".
My idea would be that Banks, who make loans of what they allege to be legal
tender money but in fact is thin air made valuable by people's acceptance,
would be charged some appropriate amount for doing so. Their money creation,
after all, reduces the amount determined by the National Credit Office to be
otherwise payable to the public in Dividend and Discount payments, and in
fact is a form of borrowing from the public at large by diluting the value
of the currency that they hold.
As long as the charge for so doing is appropriate, I see no reason why there
would have to be physical controls on the actual lending that takes place.
Martin Hattersley
5929 - 189 St.,
EDMONTON AB CANADA T6M 2J1
e-mail: jmartinh@shaw.ca
----- Original Message -----
From: "Joe Thomson" <thomsonhiyu@shaw.ca>
To: <socialcredit@elistas.com>
Sent: Sunday, March 18, 2007 5:19 PM
Subject: Re: [socialcredit] Economic Democracy
----- Original Message -----
From: John G Rawson
To: socialcredit@elistas.com
Sent: Sunday, March 18, 2007 3:21 PM
Subject: RE: [socialcredit] Economic Democracy
(John Rawson wrote:-) 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?
(Joe asks:-) I believe Bill's raised some valid points. Wouldn't the
banks just pass on to their customers the cost of any fee charged them for
the use of the 'community's credit' ? And if those customers were 'firms',
then they'd just pass on the additional cost charged them by the banks to me
and thee as consumers, would they not? Where's the benefit to consumers in
that?
But aside from that, when Martin says the banks are making a "draw against
the National credit", does he envision this "draw'' being one that's always
assured, or one that's subject to approval?
.
----------------------------------------------------------------------------
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)
>
>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
>
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><< bryan-excerpt.mp3 >>
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