My previous posting included the last three pages (67-69) of Chapter 8
(The Remedy) of The Struggle for Money by H.M.M. I am now posting
the rest of this chapter (pages 60-66)in the hope that this material may
be helpful to Jessop Sutton (and others) who has appealed for help in
understanding
Hello Jessop! (and Others)
I sympathize with you and have posted the remainder (first part) of
Chapter 8 (The Remedy) from H.M.M.'s THE STRUGGLE FOR MONEY hoping
that this may answer some of your questtions. When a bank makes a loan
or purchases a security it creates new credit-money; when it
Sorry, below should read we need NOT the creation of incomes through
wasteful and destructive activity, et.
Wally
Wallace M. Klinck wrote:
Hello Jessop! (and Others)
I sympathize with you and have posted the remainder (first part) of
Chapter 8 (The Remedy) from H.M.M.'s THE STRUGGLE FOR
Dear Friends,
Jessop asks eight questions:
1. Repaid money is cancelled out of existence. Retaining it as "old money" would imply that a bank depends on "old money" to make loans and so perpetuate a myth. A bank is a fount of money.
2. "Unrecoverable debt" would imply that the bank has some
