| Subject: | Re: [socialcredit] Replying to Vic (Deus Ex Machina) | | Date: | Wednesday, April 20, 2005 14:34:33 (+1000) | | From: | Vic Bridger <socred @.......au>
|
| In reply to: | Message 980 (written by Jessop Sutton) |
Statutory Reserve controls may still exist but so does the banks' ability to
create the major portion of the money supply. If the controls were such that
they stopped banks from creating credit (money) unless they held the
equivalent money in their possession I fail to see what is the point of
continuing to point out that there are controls. The controls are on limits
to increases not the ability to increase.
Vic Bridger
----- Original Message -----
From: "Jessop Sutton" <sutton@kingsley.co.za>
To: <socialcredit@elistas.com>
Sent: Tuesday, April 19, 2005 12:42 AM
Subject: Re: [socialcredit] Replying to Vic (Deus Ex Machina)
> On Monday 18 Apr 2005 1:05 am, Trevor Crosbie wrote:
> > I can't believe that Vic or Mr.Bridger haven't latched on to the fact
that
> > the "fractional reserve" system was effectively dismantled in the 1980s
> > when the central bankers adopted a basic accord which eliminated the
> > fractional reserve requirements in favour of "risk weighted capital
> > requirements". They were able to do that because what was used in the
> > reserves equation became irelevant as the ratio of debt to cash exceeded
> > 95%.
> =======================
>
> Not so in South Africa. We still maintain a statutory reserve, even though
it
> is small. Whichever way you look at it, it does serve to regulate the
money
> supply.
>
> Jessop.
>
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