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Re: Re: 100 percen Joe Thom
RE: question regar John G R
RE: Re: 100 percen John G R
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Student Debt in Ca Wallace
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Subject:RE: [socialcredit] 100 percent reserve system
Date:Sunday, May 17, 2009  20:49:17 (+0000)
From:John G Rawson <johngrawson @.......com>

Thanks Ken. Your basic principlw is correct. But certainly not to the degree some pretend.
To assume that no banker (or moneylender) ever ate or wore clothes is ridiculous.  As is any modern assumption that banks hoard (destroy or reinvest) all their payments instead of spending a large part on costs.
Regards.
John R.



 
> Date: Sun, 17 May 2009 13:57:00 +0100
> From: kenpalmerton@cix.compulink.co.uk
> To: socialcredit@elistas.com
> CC: kenpalmerton@cix.compulink.co.uk
> Subject: RE: [socialcredit] 100 percent reserve system
>
> In-Reply-To: <BLU116-W22625C541776D4A60C2930BD5C0@phx.gbl>
> Hi John.
>
> Sorry to say you attempt to rubbish Five thousand years of clear world
> wide understanding.
>
> The foundation of indebtedness is the attempt to make money "Fruitful".
> Raking in more then you lend out :-(
>
> Despite all the spin to persuade that the unacceptable is acceptable.
>
> Ken.
>
> -------- Original Message --------
>
> From: John G Rawson <johngrawson@hotmail.com>
> To: Socred elistas <socialcredit@elistas.com>
> Date: Sat, 16 May 2009 23:14:04 +0000
>
> Hi Ken, ref. your comment on payentof interest.
>
> As both our Moderator and myself (both ends of the spectrum!) have pointed
> out, largely from money paid out in costs (wages, rent, power, fleet etc.)
> by the banks.
>
> Have a look at reinvestment for the "gap", not bank interest.
> Regards.
>
> John R.
>
>
>
>
> > Date: Sat, 16 May 2009 21:37:00 +0100
> > From: kenpalmerton@cix.compulink.co.uk
> > To: socialcredit@elistas.com
> > CC: kenpalmerton@cix.compulink.co.uk
> > Subject: Re: [socialcredit] 100 percent reserve system
> >
> > In-Reply-To: <003101c9d5fe$04d64310$8b82c67c@HomePC>
> > Hi William.
> >
> > Of course our current system depends upon an escalation money supply.
> >
> > How else is the interest paid ?
> >
> > Ken.
> >
> > -------- Original Message --------
> >
> > From: "William Hugh McGunnigle" <wmcgunn@maxnet.co.nz>
> > To: <socialcredit@elistas.com>
> > Date: Sat, 16 May 2009 20:12:08 +1200
> >
> > HI John
> > OUR financial system depends on an ever increasing money supply
> > to endsure ir continues to function. The source of the extra finance is
> > the banking system. Unless that system is allowed to continue to provide
> > that funding commercial activity will cease. ALL systems that assume
> that
> > banks lend out their deposits are missing the point, and the 100%
> reserve
> > system makes that stupid assumption. It is still a Fractional Reserve
> > system, a system that has been discredited and mainly abandoned by most
> > International Banks. You must not confuse the two functions of banks
> > deposits are inviolate and cannot be on loaned they are safeguarded
> unless
> > the depositor specifically places them in an account that allows the
> bank
> > tp speculate with them. EXtending Bank loans at interest is the
> secondary
> > banking function where the bank acts as a security for a loan issued to
> > people or institutions for commercial purposes. The two purposes are
> > distinct and seperate, unfortunately the fractional reserve system
> > connected the two
> > to the confusion of everyone attempting to reform the monetary system.
> In
> > Theory Banks could "lend out" any anount of money without holding any
> > deposits at all. In reality banks could cancel all the loans it has
> > without any real loss because it did not have the money to start off
> with.
> > IT created those "loans " out of in air. It took me a long time to
> realise
> > the significance of that fact. Banks are never really at risk because
> > they don't have the money to start off with and so cannot actually
> become
> > bankrupt as a result of the loans it has issued. Only the central
> banking
> > system which regulates the amount of credit a bank can issue can stop a
> > bank from doing this function. I believe that under SC this issuing of
> > credit should be controlled by an agency outside the banking system, and
> > that the free slather that we are seeing at present has to be regulated
> > far more stringently.
> > Bill Mc G
> >
> > ----- Original Message -----
> > From: John Hermann
> > To: socialcredit@elistas.com
> > Sent: Friday, May 15, 2009 2:47 PM
> > Subject: [socialcredit] 100 percent reserve system
> >
> >
> > At 02:07 AM 15/05/2009, William Ryan wrote:
> >
> > Firstly, there is a serious question that such a system could work
> > even in theory.
> >
> >
> > What is a 100 percent reserve system?
> > by William Hummel
> >
> > A 100 percent reserve system is not simply a special case of the
> > fractional reserve system. It would dramatically transform the monetary
> > system and the role of banks, as summarized in the following:
> >
> > In a 100 percent reserve system, banks would be required to hold
> > reserves equal to their demand deposits. Banks could no longer create
> > deposits out of thin air by lending, as in a fractional reserve system,
> > because there would be no reserves backing those deposits. The entire
> > money supply would consist of base money - demand deposits which are
> > proxies for central bank funds, and cash in circulation. Bank credit
> > money would no longer exist. The money supply could change only as a
> > result of open market operations or lending by the central bank.
> >
> > Banks would play two quite independent roles: (1) depositories
> > providing payment services to the public, and (2) profit-seeking
> > enterprises we can call financial service companies (FSC). In its role
> as
> > an FSC, a bank could only lend what it holds on deposit itself. Such
> > lending would transfer ownership of funds from its own account to the
> > borrower's account, in the same way a non-bank FSC now lends.
> >
> > Banks could acquire funds to lend by selling interest-earning securities
> > such as money market funds. However they would have little incentive to
> > seek new demand deposits because such deposits offer no opportunity to
> > create profitable investments for themselves. In principle, banks could
> > continue to offer CDs and savings deposits to acquire funds. However
> > without federal insurance coverage, those deposits would be functionally
> > redundant with other instruments offered by FSCs, and are best
> eliminated.
> >
> > With the depository operations of little value to banks in a 100 percent
> > reserve system, it makes sense to consolidate all deposits into a single
> > national depository run by the central bank. It could be called the
> > national bank, but should not be confused with the central bank itself,
> > which is not a public depository and has other important functions to
> > perform. All deposits at the national bank would be non-earning
> > transaction deposits which exist as entries in a single computer system.
> > Verifying balances and making payments could be done instantly. Deposit
> > insurance would be eliminated since there is no risk when all deposits
> are
> > held in a national bank.
> >
> > Addendum:
> > I don't think there is the slightest chance the U.S. Congress
> > would enact the necessary legislation, considering the political power
> of
> > the banking business. But if it did, It would certainly change the
> > landscape in the financial world. Milton Friedman and a few other
> > reputable economists have proposed a 100% reserve system, but I have
> never
> > seen anything to suggest they understood the full implications.
> > The fractional reserve system puts enormous leverage in the hands
> > of large banks, which is often misused. Far too much lending now goes to
> > support purely speculative activity in the financial markets. That
> > distorts the markets, inflates asset prices, increases the fragility of
> > the banking system, and serves no useful purpose in the real economy.
> The
> > single national depository version of a 100% reserve system, which I
> > describe in more detail in http://wfhummel.net/nationaldepository.html,
> > would be a definite improvement in my opinion.
> >
> >
> >
> >
> > ---------------------------------------------------------------------
> > Some introductory materials to the discussion topic of this list are at
> > http://www.geocities.com/socredus/compendium
> > You're subscribed to this list with the email wmcgunn@maxnet.co.nz
> > For more information, visit http://www.eListas.com/list/socialcredit
> >
> >
> >
> > ---------------------------------------------------------------------
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> > http://www.geocities.com/socredus/compendium
> > You're subscribed to this list with the email
> > kenpalmerton@cix.compulink.co.uk
> > For more information, visit http://www.eListas.com/list/socialcredit
> >
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