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Message 1000
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| Subject: | [socialcredit] The Guernsey "Story" | | Date: | Wednesday, April 20, 2005 07:45:17 (-0700) | | From: | William B. Ryan <w_b_ryan @.....com>
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What "pro debt money literatures" are you referring
to? Please be more specific.
By the way, the Guernsey "story" is mostly myth;
fabrication to push the greenbacker agenda. Contrary
to what you may suppose, the greenbacker agenda is
not anti-banking. It amalgamates banking with
government--the ultimate supreme power.
The system in Guernsey is perfectly orthodox but with
this twist: it is an international banking haven for
scoundrels and criminals, as are the Caymans and
Switzerland, where the scoundrels and criminals hide
their ill-gotten assets, a service for which the
banks profit.
The pay off from that to the "government" of Guernsey
is the source for the island's supposed "prosperity."
It is payoff by international banks for the
sanctuary.
In terms of the volume of transactions, few people
actually use the local Guernsey pound notes except
the banks--even though they are technically
"sterling," no-one wants them outside the islands.
Most transactions in Guernsey, as elsewhere in the
world, are conducted through deposit transfer. There
is some local circulation of the notes along side the
British pound.
The notes are delivered to the banks from the
printing office when ordered by the banks, for which
the banks credit the government at their face value.
If this is not pay-off for the haven that the corrupt
government of Guernsey supplies them, I don't know
what could be.
The notes are not spent into circulation by the
government at the government's volition. The
government can spend only what is allocated to them
by the banks, when the banks determine it is in their
interest to credit the government's account.
The banks (according to the government's official
website, "financial services" is the island's largest
industry) run the show.
I would not be surprised to find that the Guernsey
"story" really emanates in the first instance from
that source.
If so, the "monetary reformers" who pass it along are
dupes, unwitting servants of the banks.
-
--- Stan Szopa <sszopa@yahoo.com> wrote:
>
> At 09:48 on Mon, 18 Apr 2005 "William B. Ryan"
> <w_b_ryan@yahoo.com> wrote:
>
> "...Now, if that is not anti-Social Credit
> propaganda
> emanating from the epicenter of banking, I don't
> know
> what could be...
>
> ...Perhaps not so coincidentally, the date on this
> Fed
>
> propaganda corresponds to the date of publication of
>
> the self-styled "Austrian" economist Gary North's
>
http://freebooks.entrewave.com/freebooks/docs/2166_47e.htm
> anti-Social Credit screed: *Salvation Through
> Inflation," on the identical theme. In my mind, a
> coordinated effort cannot automatically be
> discounted. Of course, that IS my "conspiracy
> theorist" self talking."
>
> And in mentioned the Internet side:
>
>
>
http://freebooks.entrewave.com/freebooks/docs/2166_47e.htm
>
> "...In 1949, the great Austrian economist Ludwig Von
> Misis wrote then to refute Social Credit economics
> is
> to refute inflationary policies of every modern
> government. Yet until Salvation Through Inflation,
> no
> book had challenged the economics of Social Credit
> since the 1930's.
> Social Credit ideas have spread from England to
> Canada, Australia, New Zealand, and South Africa.
> Its
> proposed reform resembles the reform proposals of
> the
> late nineteenth-century's "greenback" movement in
> the
> United States, which still exists in the
> "underground"
> of America's far right. Salvation Through Inflation
> provides a comprehensive but easy-to-read refutation
> of these ideas. It invokes the Bible and Austrian
> economic analysis to challenge the economics of
> Social
> Credit..."
>
> Stan:
>
> “The Salvation Through Inflation” has very
> controversial title, which is immediately
> signalizing
> the full-fledge attack on any reformers of present
> corrupt monetary system.
>
> To clarified from the practical example (not from
> theories that were made up by many "great
> economists"
> including the great Austrian economist Ludwig Von
> Misis) I would like to present again:
>
> Guernsey phenomena:
>
> http://www.monetary-reform.on.ca/archives/6d.shtml
>
> "...A little place that has escaped the clutches of
> the banks by issuing its own interest-free money is
> the little island of Guernsey. By controlling its
> own
> money supply from 1816 onwards, Guernsey was able to
> avoid the century old trap of borrowing when it
> didn't
> have to. The island has had a stable and prosperous
> economy for over one hundred and fifty years.
> Guernsey's income tax is only a "flat" 20%. It has
> no
> public debt, no GST, no VAT, no inheritance tax, no
> capital gains tax, and almost no inflation...
>
> ...In 1816, they decided to issue £6,000 of their
> own
> "interest-free" Guernsey State Notes. This was in
> addition to the current supply of English pounds
> which
> two main banks were circulating on the island
> already.
>
> By 1837, £50,000 had been spent into circulation by
> the government for the primary purpose of local
> projects such as the sea walls, the roads, a new
> marketplace, a church and a college. This £50,000
> more
> than doubled the money supply. But there was NO
> INFLATION.
>
> In 1914, while the British restricted their own
> money
> supply, Guernsey issued more ... another £140,000
> over
> the next four years. By 1958, over £500,000 of
> interest-free money was in circulation on Guernsey
> and
> still no inflation. STILL NO INFLATION.
>
> By 1990, there was a total of £6.5 million in
> circulation issued interest-free. There was no
> public
> debt as in the rest of Britain which was still
> paying
> for its war debts. And yet on Guernsey, prosperity
> was
> very much evident everywhere…
> ”
> Now Ryan, I would like to ask you the
> straight-forward
> question:
>
> Do you insert those pro-debt money literatures to
> insert doubt in to hearts of some new readers, or it
> is just accidental?
>
> Best regards,
> Stan
>
>
> Message: 1
> Date: Mon, 18 Apr 2005 09:48:37 -0700 (PDT)
> From: "William B. Ryan" <w_b_ryan@yahoo.com>
> Subject: In continuing reply to Jessop Sutton
>
> "Jim, When your bank grants you an overdraft
> facility
> of $1000, you can draw on it in cash which comes out
>
> of the cash in general circulation outside of the
> statutory (fractional) reserve held at the Reserve
> Bank."
> ----------------
> -----------------
>
> No, it does not come out of general circulation.
> The
> general theorem, from Douglas's third book, *Social
> Credit,* is: Loans create deposits; the repayment
> of
> loans cancel deposits.
>
http://www.mondopolitico.com/library/socialcredit/socialcredit.htm
>
> It is a statistical concept relating to the economy
> as a whole.
>
> By the way, Post Keynesianism, founded by Professor
> Paul Davidson, editor of the Journal of Post
> Keynesian Economics, acknowledges the validity of
> the
> theorem.
> -
>
> "Incidentally, you say 'The essence of the fraud is
> the claim that the money that they create is their
> own money'. Where is the fraud since the bank hasn't
>
> actually 'created' anything?"
> ----------------
> -----------------
>
> If you would actually read Douglas, rather than
> merely pontificate about him and his theory, you
> would find the answer to your question. Perhaps you
>
> will not agree with the answer, but that's another
> matter:
>
> From Douglas's evidence before the Alberta
> legislature, 1934:
>
http://www.geocities.com/socredus/douglas-alberta-1934.txt
>
> :-
>
> "...Now that was, of course, originally--and I say
> this quite dispassionately because it is working to
> the end of a practical result which is important--
> that was a system which originated in fraud; it was
> a
> system which originated by the issue of more
> receipts
> than there were gold coins, on the assumption, which
>
> was generally true, that all the receipts would not
> be presented at once for honouring. So long as the
> actual gold behind those deposits was not all drawn
> at once, it was working perfectly successfully or
> fairly successfully for quite a long time.
>
> "It didn't work when everybody exercised his legal
> right to draw this gold; but it became so recognized
>
>
=== message truncated ===
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