Rodney's lengthy post is not responsive to the question: How do you--Rodney--define earnings?
He uses the word twenty-three times in a post that prints to ten pages, but does not once define it.
Inasmuch as the "full dividend payout of earnings" is a critical element of their scheme, and since there are several possible definitions, it would seem it is impossible to understand what they are saying without having their specific definition.
I wonder if Rodney's definition differs in any significant way from Norm Kurland's and his sidekick Michael Greaney's "free cash flow" definition, which not only ignores the necessity for expensing depreciation but actually says that depreciation adds to earnings.
The definition of earnings goes very much to whether the capital acquisition loans can "self-liquidate" as they so boldly claim. If "self-liquidation" depends on the overstatement of earnings as I believe it does from their oddball understanding of accounting, we are being presented with a fraud.
It becomes a sophisticated con game that may well have entrapped Rodney himself in fanatical true belief.
Indeed, liquidation in their scheme depends on a combination of tax credits and share dilution that transfer value from the taxpaying public, existing shareholders and workers.
Billions have already been taken from pension funds and shareholder equity.
First in line as beneficiaries of the largesse-- really theft--are the bankers who get paid upfront, before even a single dollar is paid as "dividends" to the "new capitalists."
Also scooping up the gravy are the "advisers" and "ESOP practitioners" who put the deals together.
---original message--- From: Rodney Shakespeare <[EMAIL PROTECTED]> Reply-To: [EMAIL PROTECTED] To: Social Credit <[EMAIL PROTECTED]> Subject: [SOCIAL CREDIT] The earnings of capital in binary economics Date: Fri, 18 Jul 2003 22:57:50 +0100
Dear All,
Since, no doubt, you are eagerly awaiting this information, I have put below three emails from the COG Ownership archives about the earnings of capital in binary economics (in response to Bill Ryan). [snipped]
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