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Subject:RE: [socialcredit] Replying to Palmerton: Why jobs disappear
Date:Thursday, June 4, 2009  21:34:23 (+0000)
From:John G Rawson <johngrawson @.......com>
In reply to:Message 6800 (written by william_b_ryan)

I think wer are losing sight of the way loans function?
A businmess has an overdraft limit, for which it pays costs of "line of credit". Interest is charged only for the sums used. That is our system here, i presume it is world-wide.
Money is only created when the overdraft is used to purchase something. (I quote our royal Commission, who definiutely were not monetary reformers, S C or other.)
If that money is paid to another account in overdraft to that amount or less, it is immediately extinguished with the reduction of the current overdraft.
Instead of "circulating" the lifetime of that sum of money may actually be one second or less in these circumstances. The whole "circulation" idea is a farce unless it is recognised that there are countless creations and destructions of money along the path. Remember, it is an artificial parameter, GDP divided by average volume of money.
John R.

> Date: Thu, 4 Jun 2009 08:28:29 -0700
> From: william_b_ryan@yahoo.com
> To: socialcredit@elistas.com
> Subject: [socialcredit] Replying to Palmerton: Why jobs disappear
> But the costs of production inherent to lending are a function of time. They are something like four times for a loan where the term is one year as compared for a loan of three months. The clearing system has to function for the duration of the loans, otherwise the money that is borrowed becomes worthless. Likewise, the costs of production for a loan of ten years are ten times the costs of production for a loan of only one year, and forty times the costs of production for a loan of only three months. Somebody has to pay these costs. In the system of free enterprise, they are allocated to the direct beneficiaries of the loans--the borrowers.
> ---------------------original message-----------------------
> Subject: Re: [socialcredit] Replying to Rawson: Why jobs disappear
> Date: Thursday, June 4, 2009 13:02:00 (+0100)
> From: Kenneth Palmerton <kenpalmerton@cix.compulink.co.uk>
> Hi William.
> There is a world of difference in a charge for a service, which I believe even for bankers is legitimate, and the charging of recurring interest.
> Quite often the usurers charge BOTH .
> Ken.
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