|Subject:||Re: [socialcredit] Economic Democracy|
|Date:||Monday, March 19, 2007 19:49:33 (+0000)|
|From:||John G Rawson <johngrawson @.......com>
What reserve requirements do you have in the US? NZ has none, and I thought
you had gone over to control by interest rate changes too.. And do they apply,
quite inappropriately to deposits?
Regards. John R.
Subject: Re: [socialcredit] Economic
Date: Mon, 19 Mar 2007 10:44:40 -0700 (PDT)
>I again don't see what
this "fee" is supposed to
>accomplish except perhaps in demonstrating to
>banks who's now in charge. Assuming of course that a
>new regime is now in
place. And I would presume that
>this would be after a lengthy period of
>discourse, where the bankers themselves might have
obviating the need for the "fee."
>A more meaningful policy would be to
>increase reserve requirements on the banks as the
is gradually increased. This would
>tighten "loan credit" as "cash credit" is
the gap between prices and purchasing power.
>The keyword here is "gradual,"
>for unforeseen circumstances.
>--- Martin Hattersley
>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
>thin air made valuable by people's acceptance, would
>be charged some
appropriate amount for doing so. Their
>money creation, after all, reduces the
>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
>from the public at large by diluting the value of
>currency that they hold.
>As long as the charge for so doing is
>see no reason why there would have to be physical
the actual lending that takes place.
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