On Fri, 09 May 2008 08:14:11 -0700, orangatang1 wrote:
> On 8 May, 18:26, Les Cargill <lcarg...@[EMAIL PROTECTED]
> wrote:
>> orangata...@[EMAIL PROTECTED]
wrote:
>>
>> <snip>
>>
>>
>>
>> > That is, to employ a system of full reserve banking.
>>
>> I've never seen this explain how it would improve on
>> existing fiat systems for accommodating growth in GDP.
>>
>> I have seen people talk about "separating credit from
>> money", which seems a wonderful, then an impossible
>> thing. I am not sure it's not simply a euphemism
>> for 100% reserve banking.
>>
>> Aristotle believed that charging interest *itself* was
>> immoral, since money is but a medium of exchange. The
>> immorality was the reifying of an abstract thing into
>> something that was traded for its own sake. But I note
>> that the farther we get from Aristotle on this point,
>> the more prosperous we appear to be.
>>
>> But our ability to produce would have confounded Aristotle.
>>
>> --
>> Les Cargill
>
>
> In a fiat currency the treasury could issue new treasury notes in
> pro****tion to gdp growth. This would keep the ratio of gdp to money
> supply roughly constant. The benifit of this is that we would no
> longer be slaves of the banks. As Josiah Stamp, directot of the bank
> of england, explained in 1940 -
This does not control the Republican (Reagan and Bush) government and
prevent it from borrowing hundreds of billions of dollars into existence
with no offsetting tax collections. If you think that the Federal reserve
can refuse to honor a check drawn on the United States Treasury then you
are very very deep in denial.
> "Bankers own the earth; take it away from them but leave them with the
> power to create credit; and, with a flick of a pen, they will create
> enough money to buy it back again. Take this power away from them and
> all great fortunes like mine will disappear, and they ought to
> disappear, for then this world would be a happier and better world to
> live in. But if you want to be slaves of bankers and pay the cost of
> your own slavery, then let the bankers control money and control
> credit."
And make sure that you vote for the dollar destroying Republicans. Make
sure that you are stupid enough to think taxes are theft and that
Republicans are wonderful because they cut taxes while burning money in a
war furnace.
> Another way to control fluctuations in the money supply is to use the
> bimetallic standard. New metals are mined each year. When the US was on
> the bimetallic standard people could have their silver minted into coins
> free of charge, helping to control deflation. If the value of silver
> rose against the value of currency coins would be sold for their metal
> vaule, helping to control inflation.
The value of the US dollar should be controlled against the value of the
average acre of land in the USA. There should be a MONETARY ad valorem
tax on land that will be increased to control the AVERAGE price of land
in the USA (not to manipulate it). The proceeds of the tax are burned in
a furnace.
--
"I know no safe depository of the ultimate powers
of society but the people themselves; and
if we think them not enlightened enough to
exercise their control with a wholesome
discretion, the remedy is not to take it from
them, but to inform their discretion by
education." - Thomas Jefferson
http://GreaterVoice.org/extend
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