--->The fact that I receive an interest payment for depositing money that has already been CREATED is of no importance to Social Credit. <---
It is of no importance to the understanding of reality. When you look at the sequence of individual transactions like you do here you miss the macroeconomic perspective--that we meaningfully consider rates and not individual transactions. Rates are aggregate flows. They are the net difference per unit time when looking at the economy as a whole. All the elements of a dynamic process are occurring at the same time. We analyze them by comparing them statistically. One way to do that is to graph them on the same chart against time. If you do that you will see that income is falling as compared to the costs of production which is explained through A+B. You will also see that the flux--a rate--from loans does not diverge from its reflux--a rate--regardless of the rate of interest. You will see that interest is merely the bankers' share of the profit received by firms from consumers. The greater the net rate of interest collected the greater the bankers' share in respect to other firms, and the lesser the share of the other firms. You will see that profit is not a tangible thing extracted from the wheel of commerce but numbers recorded in account books, that firms are always spending, in normal times, more than they are receiving in terms of cash flow--yet are always recording a profit. But you will not see any of that unless you think. Before that you will have to read. For example, the words from the beginning of this paragraph to this sentence. Then it might be possible for you to have questions that will further the discussion so we might learn rather than go round in circles. --->Did Douglas advocate abolishing the money creation facility of the banking/financial system? <- -- No. I know you think otherwise so find where he said otherwise. That's your homework assignment. ____________________________________________________________ Get advanced SPAM filtering on Webmail or POP Mail ... Get Lycos Mail! http://login.mail.lycos.com/r/referral?aid=27005 ==^================================================================ This email was sent to: [EMAIL PROTECTED] EASY UNSUBSCRIBE click here: http://topica.com/u/?a84IaC.bcVIgP.YXJjaGl2 Or send an email to: [EMAIL PROTECTED] TOPICA - Start your own email discussion group. FREE! http://www.topica.com/partner/tag02/create/index2.html ==^================================================================
