| Subject: | Re: [socialcredit] Economic Democracy | | Date: | Monday, March 19, 2007 23:10:47 (-0400) | | From: | Richard Cook <rickycook21 @.......com>
|
| In reply to: | Message 4597 (written by John G Rawson) |
What I meant was that member banks have a 16% reserve requirement. The Fed
itself, of course, does not.
>From: "John G Rawson" <johngrawson@hotmail.com>
>Reply-To: socialcredit@elistas.com
>To: socialcredit@elistas.com
>Subject: Re: [socialcredit] Economic Democracy
>Date: Mon, 19 Mar 2007 23:44:06 +0000
>
>
>What on Earth does a central bank need reserves for? Does the Fed. R. act
>partly as a commercial bank too? Or am I confusing the system you have
>where the central bank is not publicly owned?
>
>Regards. John R.
>
>
>From: "Richard Cook" <rickycook21@hotmail.com>
>Reply-To: socialcredit@elistas.com
>To: socialcredit@elistas.com
>Subject: Re: [socialcredit] Economic Democracy
>Date: Mon, 19 Mar 2007 16:19:46 -0400
> >Reserve requirements for federal reserve bank are 16%. The main tool
> >for controlling the money supply is interest rate changes. These
> >determine interest rates on deposits as well as loans.
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >>From: "John G Rawson" <johngrawson@hotmail.com>
> >>Reply-To: socialcredit@elistas.com
> >>To: socialcredit@elistas.com
> >>Subject: Re: [socialcredit] Economic Democracy
> >>Date: Mon, 19 Mar 2007 19:49:33 +0000
> >>
> >>
> >>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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