[Bill] Interest was not the cause of the
Great
Depression.
> --
> It is interesting to note, from "The Big Idea",
> page 33, the description of the ''Reduction and
> Settlement of Debt Act" passed by the Alberta
Legislature,
(Bill) Which says nothing about the abolishment of
> interest.
Depression.
> --
> It is interesting to note, from "The Big Idea",
> page 33, the description of the ''Reduction and
> Settlement of Debt Act" passed by the Alberta
Legislature,
(Bill) Which says nothing about the abolishment of
> interest.
Bill, I don't think Joe
was advocating the abolishment of credit altogether and as a businessman
himself probably is not against reasonable profits, but he did show
that Douglas had something to say against excess profit from interest,
especially when through the compounding of it during already 'hard times'
people lost their entire economic livelihoods.
Maybe Douglas didn't
concentrate and elaborate on interest, because it is the obvious top
of the 'financial iceberg' already shining in everybody's eyes, and
probably you are right that "As we get further into our
discussion I'll (you Bill will :)
demonstrate how Douglas' analysis was on a higher plane."
Douglas having discovered the
covert mechanism that ..." in the
context of the A+B theorem, which assumes that
income is normally insufficient to amortize debt, not because of interest, but because of labor displacement". .
income is normally insufficient to amortize debt, not because of interest, but because of labor displacement". .
"The A+B theorem demonstrates that they would
have it if it [money] were not for
labor displacement. Furthermore, the theorem demonstrates that loans
cannot self-liquidate in the presence of labor displacement even at a zero rate
of interest."
...wages/money from
employment cannot provide sufficient purchasing power to buy all the new
goods produced. Or that money created/credited for building new production
facilities is not, or no more, available in sufficient quantity by the
time goods need to be purchased.
So instead
his attention was focussed below the surface at the faulty basis
of that financial superstructure, and maybe he had bigger fish to
fry.
However, that does not mean
that the overt _expression_ of that basic fallacy, the tip of
the 'interest iceberg' is irrelevant. Since it accumulates for those
manipulating this monopoly with enormous moneyed power, and this 'Monetocracy'
is thus unlikely to want to endanger their productive goose continuing
to lay golden eggs for them by major experimental
surgery.
I'd like to add, that monetary reformers like
for example Bernard Lietaer have a much easier task explaining to the public
their desire to level the 'overt' tip of the 'interest iceberg', than
have Social Crediters working on the 'covert' fault line in the deeper
muddy waters below.
And unless Social Crediters like
yourself learn to welcome and use friends to Social Credit like Joe
Thomson, who can take complex economic thoughts and relate them in such
ways as they apply to everyday life, so that more people can
understand them, then you will indeed have to wait for Victor's great flood that
will wash everything away.
Regards,
Ekky Irion
From: <[EMAIL PROTECTED]>
> [Joe] We need to be very certain when we
deal with
> this issue that we do not inadvertently introduce
> something into Social Credit that leads back to the
> 'centralisation' we are trying to get away from.
> ----------
>
> [Bill] What would that be?
>
> Sketch for me, please, how you believe the 'new
> credits' will be administered in relation to your
> understanding of Douglas.
>
> Joe
> --------------------
>
> [06-23] The question was to you, Joe. What is it
> that could be "inadvertently" introduced?
> --
>
>
> [Bill] And Douglas listed several corrective
> measures in his Interim Report. Not one of them was
> the abolishment of interest.
> The Depression was the direct result of credit
> contraction making it impossible for business to
> continue. It became impossible to fulfill previous
> commitments of all types. It became impossible to
> continue.
> --
> Yes, I'm aware of that. The "Interim Report" was
> likely a clever piece of political manipulating by the
> UFA government to deflate the rise of 'social credit'
> --------------------
>
> [06-23] It was written by Douglas and reprinted in his
> book *The Alberta Experiment*. So what are you
> saying, Douglas was part of the conspiracy?
> --
>
>
> [Bill] Interest was not the cause of the Great
> Depression.
> --
> It is interesting to note, from "The Big Idea",
> page 33, the description of the ''Reduction and
> Settlement of Debt Act" passed by the Alberta
> Legislature,
> --------------------
>
> [06-23] Which says nothing about the abolishment of
> interest.
> this issue that we do not inadvertently introduce
> something into Social Credit that leads back to the
> 'centralisation' we are trying to get away from.
> ----------
>
> [Bill] What would that be?
>
> Sketch for me, please, how you believe the 'new
> credits' will be administered in relation to your
> understanding of Douglas.
>
> Joe
> --------------------
>
> [06-23] The question was to you, Joe. What is it
> that could be "inadvertently" introduced?
> --
>
>
> [Bill] And Douglas listed several corrective
> measures in his Interim Report. Not one of them was
> the abolishment of interest.
> The Depression was the direct result of credit
> contraction making it impossible for business to
> continue. It became impossible to fulfill previous
> commitments of all types. It became impossible to
> continue.
> --
> Yes, I'm aware of that. The "Interim Report" was
> likely a clever piece of political manipulating by the
> UFA government to deflate the rise of 'social credit'
> --------------------
>
> [06-23] It was written by Douglas and reprinted in his
> book *The Alberta Experiment*. So what are you
> saying, Douglas was part of the conspiracy?
> --
>
>
> [Bill] Interest was not the cause of the Great
> Depression.
> --
> It is interesting to note, from "The Big Idea",
> page 33, the description of the ''Reduction and
> Settlement of Debt Act" passed by the Alberta
> Legislature,
> --------------------
>
> [06-23] Which says nothing about the abolishment of
> interest.
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