----- Original Message -----
Sent: Thursday, March 22, 2007 1:24
AM
Subject: Re: [socialcredit] Economic
Democracy
Powers of Congress in the U.S.
Constitution:
Section. 8. The Congress shall have Power To
lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general
Welfare of the United States; but all Duties, Imposts
and Excises shall be uniform throughout the United States;
To borrow Money on the credit of the United States;
To regulate Commerce with
foreign Nations, and among the several States, and with the Indian Tribes;
To establish an uniform Rule of Naturalization, and
uniform Laws on the subject of Bankruptcies throughout the United States;
To coin Money, regulate the Value thereof, and of
foreign Coin, and fix the Standard of Weights and Measures;
To provide for the Punishment of counterfeiting the
Securities and current Coin of the United States;
To establish Post Offices and post Roads;
To promote the Progress of Science and useful Arts, by
securing for limited Times to Authors and Inventors the exclusive Right to
their respective Writings and Discoveries;
To constitute Tribunals inferior to the supreme
Court;
To define and punish Piracies
and Felonies committed on the high Seas, and Offences
against the Law of Nations;
To declare War, grant Letters of Marque and Reprisal,
and make Rules concerning Captures on Land and Water;
To raise and support Armies, but no Appropriation of
Money to that Use shall be for a longer Term than two Years;
To provide and maintain a Navy;
To make Rules for the Government and Regulation of
the land and naval Forces;
To provide for calling forth the Militia to execute
the Laws of the Union, suppress Insurrections and repel Invasions;
To provide for organizing,
arming, and disciplining, the Militia, and for governing such Part of them as may be employed in the
Service of the United States, reserving to the States respectively, the Appointment of the Officers, and the Authority of training the Militia according to the
discipline prescribed by Congress;
To exercise exclusive
Legislation in all Cases whatsoever, over such District (not exceeding ten
Miles square) as may, by Cession of particular States, and the Acceptance of
Congress, become the Seat of the Government of the United States, and to exercise like Authority over all Places purchased
by the Consent of the Legislature of the State in which the Same shall be, for
the Erection of Forts, Magazines, Arsenals, dock-Yards, and other needful
Buildings; — And
To make all Laws which shall be necessary and proper
for carrying into Execution the foregoing Powers, and all other Powers vested
by this Constitution in the Government of the United States, or in any
Department or Officer thereof.
Following Joe's comment/question, money seems to have
meant coinage of the precious metals at that time, the term applying neither
to paper currency or to credit. Thus the Federal Reserve Act (of 1913)
was consistent with the general provision that Congress should make laws
relevant to levying taxes, borrowing money, coining money and regulating its
value. Credit may be expressed in terms of the monetary unit but
it is not identical with money--published money magnitudes to the
contrary notwithstanding.
Keith
Wilde
Richard Cook wrote:
Congress regulated the value of silver vs. gold at a ratio of 12
to 1.
From: Joe Thomson <thomsonhiyu@shaw.ca>
Reply-To: socialcredit@elistas.com
To: socialcredit@elistas.com
Subject: Re: [socialcredit] Economic Democracy
Date: Tue, 20 Mar
2007 19:52:30 -0500
How would Congress "regulate the value
thereof"? Considering the era in
which this was written, could
it be that this simply refers to Congress's
ability to determine what
the denominations of US coinage will be, and to
set standards for the
minting of those coins, i.e., how much gold, silver,
etc. will be used
in each particular coin?
Joe
----- Original Message
-----
From: "Martin Hattersley" <hattersleyjm@interbaun.com>
To: <socialcredit@elistas.com>
Sent: Tuesday, March 20, 2007 1:14 PM
Subject: Re: [socialcredit]
Economic Democracy
> 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.
>
>> >http://autos.yahoo.com/green_center/
> >>
> >>
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>
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> >>
> >>
> >>
>
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