| Subject: | RE: [socialcredit] Re: [GJM] Replying to Peter Challen | | Date: | Saturday, January 19, 2008 09:06:05 (-0800) | | From: | Myro Ashenopolitus <new_economics @.....com>
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| In reply to: | Message 5211 (written by John G Rawson) |
The "spin," John, is the implication that there is
something wrong or evil in the fact that money is
created "out of nothing." The point I tried to make
is that "ex nihilo" is a legal term going back
centuries that pertains to contracts, whose terms and
conditions did not exist before they were agreed to by
the parties. The term is also used in religious and
theological discussions in a different context and
meaning. Modern money is contractual or creditary,
that we consider to be a "ticket" redeemable against
goods and services.
Myro
--- John G Rawson <johngrawson@hotmail.com> wrote:
> Just one point again. During the course of our Royal
> Commission (1950's) the term "out of nothing" was
> fully supported by bank representatives. It is an
> accepted accurate statement, not a "spin".
> Regards.
> John R.
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