| Subject: | Re: [socialcredit] Economic Democracy | | Date: | Tuesday, March 20, 2007 12:14:34 (-0600) | | From: | Martin Hattersley <hattersleyjm @.........com>
|
| In reply to: | Message 4599 (written by Richard Cook) |
Note that Congress's power to "coin money and regulate the value thereof" (I
quote the words from memory) is something written into the U.S.
Constitution. The whole Federal Reserve system from that viewpoint is quite
unnecessary.
Martin Hattersley
5929 - 189 St.,
EDMONTON AB CANADA T6M 2J1
e-mail: jmartinh@shaw.ca
----- Original Message -----
From: "Richard Cook" <rickycook21@hotmail.com>
To: <socialcredit@elistas.com>
Sent: Monday, March 19, 2007 9:09 PM
Subject: Re: [socialcredit] Economic Democracy
>
>
>
> I totally agree with Mr. McGunnigle's points about a separate funding
> source within the U.S. government. Excellent expression of something often
> overlooked. I am trying to address it in the book I'm working on.
>
> Richard Cook
>
>
>
>
>
>
>>From: "William Hugh McGunnigle" <wmcgunn@maxnet.co.nz>
>>Reply-To: socialcredit@elistas.com
>>To: <socialcredit@elistas.com>
>>Subject: Re: [socialcredit] Economic Democracy
>>Date: Tue, 20 Mar 2007 12:57:07 +1200
>>
>>Hi everyone
>> I have watched with curiosity the various arguments
>> being forwarded on this topic. While my comments on this could be
>> offensive to many of our contributors particularly some of those from the
>> North American continent surely the easiest method of bringing the
>> banking system under direct treasury control is to have a treasury
>> controlled reserve bank that would provide local councils and even
>> government departments with the same services as the commercial sector
>> but charging interest rates substancially less than the commercial
>> sector. Infrastructural maintenance and developments would be a fraction
>> of their present costings because that bank would only need to charge
>> interest rates sufficiently large to cover administration costs. It would
>> be restricted to those functions but since the commercial banking sector
>> has a substancial amount of its trade tied up in those departments they
>> would have to lower their interest rates to be competitive. Admittedly
>> this would be a very heavy club to wield at the banking system, but we
>> are talking about a monetary system that is totally inadequate for modern
>> uses and too vunerable to the whims and fancies of private individuals
>> owning the commercial banking to be allowed to continue as is. Quite
>> simply the present financial system is not creating sufficient debt-free
>> funding to ensure proper exploitation of the world's resources for the
>> benefit of all. The early fathers of the USA emphasised that the issuing
>> and maintenance of the money supply was the perogative of the government
>> i.e. treasury. It is only since that perogative was usurped by the
>> passing of the Reserve Bank act (1917) allowing a private organisation to
>> control and issue its money supply that the USA has moved from being a
>> creditor nation to the most indebted nation in the world. The vast bulk
>> of US debt is to the Federal Reserve as a direct result of its position
>> as the monetary controller of the US economy. I believe all the arguments
>> forwarded by our correspondents seem to be overlooking this basic axiom.
>> Until the fundamentals are cured all other arguments become irrelevant.
>> Mechnisms controlling interest rates will always be available, but we
>> need the WILL to change the way they are operated before the present
>> financial system will begin to operate for the advantage of all. Sadly,
>> predominantly, financial circles operate under a hunting rather than a
>> farming attitude. What is needed is a change of attitude to convince the
>> financiers of the world that they will make more money in the long term
>> by allowing more prosperity in the lowest echelons of society by means of
>> less exploitation on "loans" issued to enhance the developement of the
>> worlds natural resources. I believe this is one of the fundamental tenets
>> of the Socred movement. We should not lose sight of this in our arguments
>> about mechanisms.
>> Bill Mc Gunnigle
>> From: John G Rawson
>> To: socialcredit@elistas.com
>> Sent: Tuesday, March 20, 2007 11:39 AM
>> Subject: Re: [socialcredit] Economic Democracy
>>
>>
>> Under the system we had, trading ("commercial" in your terms, I think)
>> banks had to lodge a proportion of their deposits (i.e. equivalent to)
>> with the Reserve Bank, our central bank. Is/was there a ddifferent
>> system in vogue anywhere else? If so, I have never heard of it and
>> therefore thought my comment needed no interpretation. The underlying
>> assumption, obviously, was that banks lent their deposits. In effect it
>> had very little effect on lending, which presumably is why our Royal
>> Commission accepted evidence that the method was "a blunt instrument" and
>> placed that comment in its Report.
>>
>> If the nation is to have any direct control over bank lending, Martin's
>> suggestion sems to me to be the only really practical one anybody has
>> come up with.
>>
>> 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 14:03:12 -0700 (PDT)
>> >"And do they apply, quite inappropriately to
>> >deposits?"
>> >------------------------------------
>> >-------------------------------------
>> >
>> >I don't even know what this is supposed to mean, John.
>> >Perhaps you will interpret.
>> >
>> >
>> >--- John G Rawson <johngrawson@hotmail.com> wrote:
>> >
>> >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.
>> >
>> >
>> >
>>
>> >____________________________________________________________________________________
>> >Looking for earth-friendly autos?
>> >Browse Top Cars by "Green Rating" at Yahoo! Autos' Green Center.
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>>
>> >---------------------------------------------------------------------
>> >Some introductory materials to the discussion topic of this list are
>> at
>> >http://www.geocities.com/socredus/compendium
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>> johngrawson@hotmail.com
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>>
>>
>>
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>>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 wmcgunn@maxnet.co.nz
>>For more information, visit http://www.eListas.com/list/socialcredit
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>>
>>
>>---------------------------------------------------------------------
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>>For more information, visit http://www.eListas.com/list/socialcredit
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