The term itself was the title of a book by Houston
plastic surgeon Jacques Jaikaran. It is the theory
that interest is the cause of the disparity between
prices and purchasing power. The advocates of the
theory argue that banks should be prohibited from
creating money, but should only re-lend government
money on deposit with them. The government money is
placed into circulation through government spending.
Jaikaran was (maybe still is) deeply involved with
right-wing extremist groups. One of them was the
self-styled "Republic of Texas."
Jaikaran was convicted of tax evasion and sent to
Federal prison. He is out of prison now and has
resumed his medical practice.
He called me once and we met at a coffee shop. I
disagreed with something he said and never heard
from him again.
--
Houston Chronicle, 7/22/98
A Kingwood (TX) plastic surgeon, a financial adviser
for the Republic of Texas separatist group, was
convicted Tuesday of failing to file federal income
tax returns for 1992-94.
Jacques Jaikaran faces up to three years in prison
and $75,000 in fines.
He denied he is a member of the Republic of Texas
(see note below), saying he's affiliated with a group
called the Constitution Coalition of Texas.
Jaikaran attracted federal agents' attention when he
tried to arrange for the Republic of Texas to
purchase a compound in northeast Harris county, said
Internal Revenue spokesman Steve Yost.
The four-story building features machine gun turrets,
a bomb shelter and an operating room. "They were
going to make it the Republic of Texas capital," Yost
said.
The Republic of Texas, which has links to right-wing,
antigovernment militias, believes that Texas was
illegally annexed by the United States in 1845 and
should be a separate nation.
Members have no allegiance to the United States,
float their own currency and refuse to pay income
taxes.
The group's leader, Richard McLaren, was arrested
last year after a hostage-taking resulted in an armed
standoff with officers in rugged West Texas.
McLaren was subsequently convicted on state and
federal charges and sentenced to 111 years in prison.
And earlier this month, three men linked to the group
were arrested in a bizarre plot to kill President
Clinton and other officials by injecting them with a
cactus thorn coated with a deadly virus.
U.S. District Judge Sim Lake will sentence Jaikaran
in about 90 days.
--
>From Amazon:
Reviewer: A reader from Pittsburgh, PA United States
I met Dr Jaikaran on a plane from Houston to Atlanta.
Among other things, he claimed that no single doctor
has ever helped a person, and the medical profession
was a business. This enraged the passenger in front
of us, who eventually refused to speak to us.
Dr Jaikaran also claimed that life expectancy dropped
dramatically 3,500 years ago, at the same time of
Noah's flood, where God told Noah that we could start
eating animals (before that, according to OT wisdom,
men were vegetarians, and had a life expectancy of
1000 years). He also tried to convince the very nice
woman sitting next to me that the medical profession
was worthless, although she was about to begin her
residency program in Atlanta.
--
Wealth, Virtual Wealth and Debt, June 23, 2002
Reviewer: Michael L. Foudy from Falls Church, VA USA
Frederick Soddy wrote a book in the 1920's with the
same title as my review. Dr. Soddy was writing about
the monetary system in England and he reached the
same conclusions as Dr. Jaikaran. Dr. Soddy also won
the Nobel Prize in Physics for work involving the
discovery of Isotopes. Dr Soddy was clearly a very
bright man, but after reading his book I must tell
you he was obviously better with numbers and physics
than he was with the English language.
Jacques Jaikaran, on the other hand, can write. Dr.
Jaikaran and Dr. Soddy reached identical conclusions
about money and the way it works in our society, but
after reading "Debt Virus" you'll have a clearer,
more understandable picture than you will after
wading through "Wealth, Virtual Wealth and Debt."
This is an important book that anyone who earns,
saves, invests or uses "money" (obviously I mean
everyone) ought to read.
I interviewed Dr. Jaikaran for a radio show I once
hosted and have heard him speak back in 1995. He
taught me more about money than I had previously
learned in four years as an undergraduate, three
years in law school and twenty-five years of
business. And, he did so in an engaging, easy to
understand manner.
Dr. Jaikaran (he's a medical doctor by the way)
learned about money, after becoming a successful
surgeon, when he was invited to join a bank board.
Being a responsible person, he actually read the
materials he was given by the bank, the FDIC, the
Comptroller of the Currency and the Federal Reserve.
Then after he resigned from the bank board and after
the bank later failed, he translated all of that into
English you and I can understand.
Dr. Jaikaran has made a compelling case that our
civilization is piling up too much debt, causing debt
inflation and creating dangerous monetary conditions.
He also provides intriguing information about who
owns the Federal Reserve (it's not who you think),
how banking really works, the history of money, where
our money comes, what banking systems might offer
safer alternative systems from and other important
facts. By the way, he's not a "gold bug" arguing for
a return to the gold standard.
But, does any of this really matter to regular people
like us? Well, if you paid attention to current
events over the past five years, you will have
noticed a series of currency crises in Thailand,
Russia and Argentina. Those people we watched on
television mobbing banks, trying to get their money
out of Argentina while it was still worth something
and worried about the economic survival of their
families, could easily have been you and me. Their
system is basically the same as ours.
Dr. Jaikaran is a very bright, forthright and
opinionated man with strong views on a variety of
subjects. You may disagree with him about some
things, I do; however, I've not been able to find
fault with his facts, logic or conclusions when it
comes to money and debt.
If Dr. Jaikaran and Frederick Soddy are right about
money and debt, and I think they are, then our
monetary system is in grave danger.
I feel strongly enough about this that I've given
this book to at least half a dozen people and
suggested it to dozens of others. I would have given
more away if I could find people willing to think
about money, fractional reserve banking and debt.
--
---original message---
Date: Sun, 29 Jun 2003 11:55:01 +0930
From: John Hermann <[EMAIL PROTECTED]>
Subject: RE: [SOCIAL CREDIT] reply to Vic2--
continuing discussion
To: [EMAIL PROTECTED]
Thanks for your well-considered response Bill. I will
reflect carefully on your comments. Incidentally,
what does the term "debt virus" mean? John
At 09:40 AM 28/06/2003 -0700, you wrote:
John, the sentences below from Vic are perfectly
correct as they stand. It is what you make of them
that may or may not be correct.
[snipped]
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