Bill Ryan wrote:
Take the case of a simple discount loan: You tender to the banker
your personal note for $10,000 payable in one year. He discounts it
%5 and credits your account in the amount of $9,500. He credits his
own account as a businessman in the amount of $500. You are
expected to pay
Bill Ryan wrote:
[2. Do banks lend their
deposits?]
Which deposits do you mean, the deposits of their customers, or the
deposits they themselves have with other institutions?
The deposits of their customers are the liabilities of the banks to their
customers. They do not lend from their own
Principal is paid
to bank as bank and is cancelled. Interest is paid to bank as
business and is spent." (Bill Ryan)
Dear Joe,
I don't disagree with anything you say below, but would place more emphasis on
the distortion of purchasing power resulting from income banks/bankers
In a message dated 6/21/03 6:27:58 AM Pacific Daylight Time, [EMAIL PROTECTED] writes:
Principal
is paid to bank as bank and is cancelled. Interest
is paid to bank as business and is spent." (Bill Ryan)
Dear Joe,
I don't disagree with anything you say below, but would place more emphasis
I presume the rules of compound interest would
apply if the loan was not fully paid within one year.
One year has nothing to do with it.
Let's say the loan is for $100,000 at 5% payable
yearly over ten years. At the end of the first year
you would owe one tenth of the principal plus five
Question: Where does the interest paid by
commercial banks to their investment depositors come
from?
Their own pockets, their profit-loss account. It is
paid from the bank account they keep with themselves.
--
Please explain! Most of the nation's money supply
is credit existing in the
** **
W. Curtiss Priest, Ph.D.
Center for Information, Technology Society
466 Pleasant Street Melrose, MA 02176
E-mail: [EMAIL PROTECTED], Voice: 781-662-4044, FAX: 781-662-6882
Dear Curtissand other
friends of Social Credit ideas,
Please take the time to read
the article copied below, not because it may offer that many new insights, but
because it is a spark of hope that a much wider audience will be prepared to
look at the need for monetary reform following the
"In his original
speech, Mr Hain planned to say: "We face a position where the top 40 per cent
rate of tax now catches far too many middle income employees. How can we ensure
hard-working middle income families and the low paid get a better deal, except
by those at the very top of the pay
"And I would be interested to know from either Wally, who is, or Vic, who
was, part of the Social Credit Secretariat, which as I understand it has the
'official' word on anything to do with Douglas, why a recently put out
booklet "Social Credit: Some Questions Answered" calls for (page 7)
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