| Subject: | Re: [socialcredit] Re: Article by Richard Cook | | Date: | Wednesday, December 19, 2007 16:14:10 (-0700) | | From: | Martin Hattersley <jmartinh @....ca>
|
| In reply to: | Message 5147 (written by Joe Thomson) |
Joe -
For a precedent that I think holds water, look at the Giro of Venice, which
lasted for 600 years using nothing but "money of account", which actually
kept its value better than gold. The Venice of the middle ages was one of
the great trading cities of the world.
I think it's a bit much to expect any experiments that have taken place
before Douglas to be able to make use of his techniques. All that we can
claim for them is that, even if not perfect, they were a better way of
handling the money supply situation that what we "enjoy" at the present
time.
Martin Hattersley, 5929-189 St.,
EDMONTON AB CANADA T6M 2J1
Phone (780) 483-5442
e-mail <jmartinh@shaw.ca>
----- Original Message -----
From: "Joe Thomson" <thomsonhiyu@shaw.ca>
To: <socialcredit@elistas.com>
Sent: Tuesday, December 18, 2007 6:03 PM
Subject: Re: [socialcredit] Re: Article by Richard Cook
(John Rawson wrote:-) So the whole reform constitutional argument is
based on the clause "To coin money"? It could be claimed logically that,
since coinage was the only form of money then, this was intended to cover
all money?
(Joe replies:-) But it wasn't the only form of 'money' then, John.
(John Rawson:-) I note again your reaction to the Guernsey story, but you
have never given hard facts for your attitude. So far there appears to be
more evidence for this event than against.
(Joe replies:-) That story was thoroughly vetted on here, or the
predecessor list, quite some time ago. The ''States Notes", if I recall
correctly from what was determined in examining the issue then, were
redeemed by import duties. They weren't 'debt-free' money.
(John Rawson:-) After all, why should anyone invent such a happening in
such an unusual place otherwise?
(Joe replies:-) There was a lot of propaganda put forth by various
'monetary reformers', John. BC's own G. G McGeer, a former Vancouver Mayor,
who was later a MLA, a MP, and finally a Senator, was one latter day one.
He was aided and abetted by still others who'd previously created 'facts'
out of fiction to further their own ends. The myth might grow and grow,
but it's still myth.
(John Rawson wrote:-) And would you argue that the actions of New
Zealand's first Labour Government in funding much of infrastructure, state
housing for homeless, and the dairy industry with Reserve Bank credit at 1%
is a myth?
(Joe replies:-) They 'primed the pump' with deficit financing. That's
all they did. It relieved unemployment, and stopped the deflationary spiral
that you were in.
In a deflation it's hard to sell anything other than essentials, for why
would you want to buy anything today if you felt you could get it cheaper
tomorrow? And when prices have to be lowered below financial cost to move
existing product, there's no inducement to produce any more.
So your government turned that around, and when prices started to come
up, then there's an inducement to buy before they go higher. It's a quick
fix, but it doesn't really solve the problem. And when it's carried on for
any length of time you'll get an 'inflation' that'll negate its benefits.
It is a crummy substitute for Social Credit properly applied.
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