| 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.
From: <william_b_ryan@yahoo.com>
Reply-To: socialcredit@elistas.com
To:
socialcredit@elistas.com
Subject: Re: [socialcredit] Economic
Democracy
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
the
>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
public
>discourse, where the bankers themselves might have
>become persuaded,
obviating the need for the "fee."
>
>A more meaningful policy would be to
gradually
>increase reserve requirements on the banks as the
>dividend/discount
is gradually increased. This would
>tighten "loan credit" as "cash credit" is
increased.
>Closing
the gap between prices and purchasing power.
>
>The keyword here is "gradual,"
allowing accommodation
>for unforeseen circumstances.
>
>
>--- Martin Hattersley
<hattersleyjm@interbaun.com>
>wrote:
>
>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
>
>
>
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