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C.H.
Douglas>
The essence of the fraud is the claim that the money that
they create is their own money, and the fraud differs in no
respect in quality but only in its far greater magnitude, from the fraud of
counterfeiting. Dictatorship by
Taxation.
Michael
Lane>Banking
is supposed to be an art and a service. But quite apart from the fact that to
borrow money you have to pay interest and that money does not
exist… Question - The quote by Douglas indicates that he believed that banks create money. How is that money created if not as a debt? Question - Why is it a false assumption to state that if you borrow money from a bank that the interest payable on that borrowing does not exist. If the interest does exist, where did it come from? If all the loans that are outstanding to the banks were called in tomorrow and the banks demanded their interest payments where would the interest come from, given that under normal bookkeeping conventions all the loans (debits) would be offset by a credit? Vic B ==^^=============================================================== 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 ==^^=============================================================== |
