| Subject: | RE: [socialcredit] Finance: Credit "Crisis" and "Depression" | | Date: | Monday, December 1, 2008 19:46:22 (+0000) | | From: | John G Rawson <johngrawson @.......com>
|
| In reply to: | Message 5736 (written by william_b_ryan) |
This discussion is purely with the mechanism of paying it, for which I see no problems and several solutions, but:
Martin uses the term "just price" which implies conmditions for its payment, i.e. a means of containing price inflation. How do we establish "just prices" for a multitude's multitude of items, each in different parts of a country each with different transport costs, local taxes, etc?
Others insist that it shall be a discount of a certain percentage of the price, whatever it is. Which, to me, in the sellers market that SC would establish, would lay the situation completely open to profiteering.
A bureaucratic nightmare to beat all socialist efforts anywhere, or uncontrolled inflation?
If someone can answer these points, I too will faour the system. But I've been asking for these answers for decades now.
John R.
> Date: Mon, 1 Dec 2008 07:07:10 -0800
> From: william_b_ryan@yahoo.com
> To: socialcredit@elistas.com
> Subject: Re: [socialcredit] Finance: Credit "Crisis" and "Depression"
>
> It would be equivalent to a "Goods and Services Tax" in reverse, but I would be reluctant to accept a commingling of the tax and dividend systems. Too much of an incentive to increase the tax rate to offset the dividend due the people.
>
> At the very least money created by the Mint would need the cooperation of the banks. During and after the Civil War, the banks refused to accept deposits of Greenbacks, which greatly limited their acceptability. The banks achieved complete victory with the passage of the Specie Resumption Act, which mandated that the Greenbacks be redeemed by the government in gold. This greatly enriched the speculators who had amassed Greenbacks at steep discount.
>
> Legal tender status is not sufficient to guarantee acceptability. The Greenbacks had legal tender status that was eventually approved by the Supreme Court. Legal tender status did not require the banks to accept them for deposit. It only required that creditors accept them in payment for debt. But Alberta didn't even have the legal authority to convey legal tender status to its notes.
>
> All money is debt by its creator to its bearer. That will always be the case. It is a subset of the more general concept of contract for future performance, which fits very well with Douglas' "ticket" metaphor. See the Innes papers at
> http://www.geocities.com/new_economics/innes/
>
>
>
>
> --- On Sun, 11/30/08, Martin Hattersley <jmartinh@shaw.ca> wrote:
>
> Yes, I'm certainly in favour of a "Just Price", which in Canada could easily be achieved through making our "Goods and Services Tax" mechanism go into reverse as a subsidy on prices, so introducing money into the economy in a way that actually reverses inflation, that money being created by the Mint rather than the banking system.
>
> The one essential thing we have to do is to create our money supply without creating debt at the same time, and there's certainly no sense in spending money on infrastructure (or wars) if what we get from it all isn't anything we need.
>
> Martin Hattersley
>
>
>
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