One more thing, Jessop. Is this paraphrase of the source or is it quoted verbatim? If it is verbatim it is very cunningly crafted. Notice it says the "cash has been spent into circulation." I do not believe any of it is spent into circulation. I believe all of it is lent into circulation or the significant portion of it, even in South Africa. The Moslerite William Hummel challenged me on this the other day by claiming that the Fed when it purchases securities is "spending" money. It is true that it "purchases" securities but that is tantamount to lending. It is not the same thing as purchasing the products of industry. This is part of the "newspeak" we are apparently being subjected to throughout the world. The term "fiat" used to mean government money spent into circulation like the nineteenth century greenbacks. Now they are using the term for bank credit lent into circulation with the inference that it's exactly the same thing. Do you see what is happening here? It is an inversion of the meaning of words and is a subtle though powerful form of deception.
>Over here, The South African Reserve Bank has the sole right to issue new note >and coinage currency. The Bank issues new notes and coins according to the >public�s cash requirements (aka �till money requirements�). The cash comes >into general circulation when the Reserve Bank buys government stock from the >government or financial assets from the banks. In the process, credit is made >available to government or banks who then draw cash as required to spend. The >cash then has been spent into circulation. >(Sources: SARB and �Basic Macro-Economis�, by L J Fourie & F van den Bogaerde, >published by I L van Schaik.) ____________________________________________________________ University of Phoenix Online. Free Information - Online Classes http://r.hotbot.com/r/lmt_uopo/http://servedby.advertising.com/click/site=563632/mnum=125825 This offer applies to U.S. Residents Only --^---------------------------------------------------------------- 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 --^----------------------------------------------------------------
