| Subject: | Re: [socialcredit] Economic Democracy | | Date: | Tuesday, March 20, 2007 15:13:31 (-0400) | | From: | Richard Cook <rickycook21 @.......com>
|
| In reply to: | Message 4603 (written by Martin Hattersley) |
A point well taken.
>From: Martin Hattersley <hattersleyjm@interbaun.com>
>Reply-To: socialcredit@elistas.com
>To: socialcredit@elistas.com
>Subject: Re: [socialcredit] Economic Democracy
>Date: Tue, 20 Mar 2007 12:14:34 -0600
>
>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.
>>> >
>>> >
>>> >
>>>
>>> >____________________________________________________________________________________
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>>>are at
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>>>
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