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6354. LawyerDude: 805 815 3599. Lawyerdude@adelphia.net Dlawyerdude@gmail.com
Banksters oppress us all and steal the wealth from this country. We could all be fabulously rich but for bankers and the military industrial complex and the federal reserve. Remember that on D day they parachuted our gold into France. Time after time the banksters have tricked us into shipping gold out of our country but the gold is not important. They use the gold as a ploy to steal everything else. Our government is giving away our land for pennies per acre while most of us cannot afford to own any land. This money system has the potential to make us fabulously wealthy - because we have tremendous national resources and our engineering has made us very efficient. This money system could curb our government and prevent wars.
Social Credit System. A debt money system. Myth of gold exposed.
by Louis Even
This page is www.lawyerdude.8k.com/credit.html Lawyerdude’s page #6354. Thanks to nerdmann@new.rr.com who sent me this story and to Angela Stark angelastark@comcast.net who found the better cartoon.
Related pages:
Here is a good cartoon that explains the concept of oppressive banking: http://centre.telemanage.ca/links.nsf/articles/C7E64CA7D90019488525691000585D48
The original story has drawings at this link: http://www.members.shaw.ca/theultimatescam/moneymythexploded.htm
Here is another cartoon explaining the concept. http://www.socialcredit.com/money_comic/page01.htm
Here is the main site: http://www.socialcredit.com
Social Credit System. A debt money system. Myth of gold exposed.
by Louis Even
Lawyerdude says: Here is a story designed to explain the money system - which is part of the subject of games.
Games are as games do.
Fractional deposit lending is as fractional deposit lending does.
Remember that a co-operative would have saved grief for the following players.
Five Canadians got shipwrecked, and like Gilligan, they were trapped on an island.
They were five, five Canadians. There was Frank, the carpenter, big and energetic, It was he who had first cried, "Land!"
hen Paul, a farmer. You can see him on his knees, one hand against the floor, the other gripping the mast of the raft.
Next Jim, an animal breeder; he's the one in the striped pants, kneeling and gazing in the direction of land.
Then there is Harry, an agriculturist, a little on the stout side, seated on a trunk salvaged from the wreck.
And finally Tom, a prospector and a mineralogist; he is the merry fellow standing in the rear with his hand on the carpenter's shoulder.
Our men often got together to talk over their affairs.
Under the simple economic system which had developed, one thing was beginning to bother them more and more; they had no form of money. Barter, the direct exchange of goods for goods, had its drawbacks. The products to be exchanged were not always at hand when a trade was discussed. For example, wood delivered to the farmer in winter could not be paid for in potatoes until six months later.
Sometimes one man might have an article of considerable size which he wished to exchange for a number of smaller articles produced by different men at different times.
All this complicated business and laid a heavy burden on the memory. With a monetary system, however, each one could sell his products to the others for money. With this money he could buy from the others the things he wanted, when he wished and when they were available.
It was agreed that a system of money would indeed be very convenient. But none of them knew how to set up such a system. They knew how to produce true wealth - goods. But how to produce money. the symbol of this wealth, was something quite beyond them. They were ignorant of the origin of money, and needing it they didn't know how to produce it. Certainly, many men of education would have been in the same boat; all our governments were in that predicament during the ten years prior to the war. The only thing the country lacked at that time was money, and the governments apparently didn't know what to do to get it.
5. Arrival of a refugee
One evening when our boys were sitting on the beach going over their problem for the hundredth time, they suddenly saw approaching, a small boat with a solitary man at the oars.
they learned that he was the only survivor of a wreck. His name, Olivier.
Delighted to have a new companion they provided him with the best they had and took him on an inspection tour of the colony.
"Even though we're lost and cut off from the rest of the world," they told him, "we haven't too much to complain about. The earth and the forest are good to us. We lack only one think - money. That would make it easier for us to exchange our products."
"Well, you can thank Providence," replied Olivier, "because I am a banker and in no time at all I'll set up a system of money guaranteed to satisfy you. Then you'll have everything that people in civilization have."
A banker!... A BANKER!... An angel coming down out of the clouds couldn't have inspired more reverence and respect in our men. For, after all, are we not accustomed, we people in civilization, to genuflect before bankers, those men who control the life-blood of finance?
6. Civilization's god
"Mr. Oliver, as our banker, your only occupation on this island will be to look after our money; no manual labor."
"I shall, like every other banker, carry out to complete satisfaction my task of forging the community's prosperity."
"Mr. Oliver, we're going to build you a house that will be in keeping with your dignity as a banker. But in the meantime, do you mind if we lodge you in the building we use for our get-togethers?
"That will suit me, my friends. But first of all, unload the boat. There's paper, and a printing press, complete with ink and type; and there's a little barrel which I exhort you to treat with the greatest care."
They unloaded everything. The small barrel aroused intense curiosity in our good fellows.
"This barrel," Oliver announced, "contains treasure beyond dreams. It is full of... gold!"
Full of gold! The five all but swooned. The god of civilization here on Salvation Island! The yellow god, always hidden, yet terrible in its power; whose presence or absence or slightest caprice could decide the very fate of all the civilized nations!
"Gold! Mr. Oliver, you are indeed a great banker!"
"Oh august majesty! oh honorable Oliver! great high priest of the god, gold! accept our humble homage and receive our oaths of fealty!"
"Yes, my friends, gold enough for a continent. But gold is not for circulation. Gold must be hidden. Gold is the soul of healthy money, and the soul is always invisible. But I'll explain all that when you receive your first supply of money."
7. The secret burial
Before they went their separate ways for the night, Oliver asked them one last question.
"How much money will you need to begin with in order to facilitate trading?"
They looked at one another then deferentially towards the banker. After a bit of calculation and with the advice of the kindly financier, they decided that $200 each would do.
The men parted, exchanging enthusiastic comments. And in spite of the late hour, they spent most of the night lying awake, their imaginations excited by the picture of gold. It was morning before they slept.
As for Oliver, he wasted not a moment. Fatigue was forgotten in the interests of his future as a banker. By dawn's first light he dug a pit into which he rolled the barrel. He then filled it in, transplanting a small shrub to the spot about which he carefully arranged sod. It was well hidden.
Then he went to work with his little press to turn out a thousand $1 bills. Watching the clean new banknotes come from his press, the refugee turned banker, thought to himself:
"My! how simple it is to make money. All its value comes from the products it will buy. Without produce these bills are worthless. My five naive customers don't realize that. They actually think that this new money derives its value from gold! Their very ignorance makes me their master."
And as evening drew on, the five came to Oliver -- on the run.
8. Who owns the new money?
Five bundles of new banknotes were sitting on the table.
"Before distributing the money," said the banker, "I would like your attention.
"Now, the basis of all money is gold. And the gold stored away in the vault of my bank is my gold. Consequently, the money is my money. Oh! don't look so discouraged. I'm going to use it as you see fit. However, you'll have to pay interest. Considering that money is scarce here, I don't think 8% is unreasonable."
"Oh, that's quite reasonable, Mr. Oliver."
"One last point, my friends. Business is business, even between pals. Before you get the money, each of you is going to sign a paper. By it you will bind yourselves to pay both interest and capital under penalty of confiscation of property by me. Oh! this is a mere formality. Your property is of no interest to me. I'm satisfied with money. And I feel sure I'll get my money and that you'll keep your property."
"That makes sense, Mr. Oliver. We're going to work harder than ever in order to pay you back."
"That's the spirit. And any time you have a problem, come and see me. Your banker is your best friend. Now, here's two hundred dollars for each of you."
And our five brave fellows went away, their hands full of dollar bills, their heads swimming with the ecstasy of having money.
9. A problem in arithmetic
And so Oliver's money went into circulation on the island. Trade, simplified by money, doubled. Everybody was happy.
And the banker was always greeted with unfailing respect and gratitude.
But now, let's see... Why does Tom, the prospector, look so grave as he sits busily figuring with a pencil and paper? It is because Tom, like the others, has signed an agreement to repay Oliver, in one year's time, the $200 plus $16 interest. But Tom has only a few dollars in his pocket and the date of payment is near.
For a long time he wrestled with the problem from his own personal point of view, without success. Finally he looked at it from the angle of the little community as a whole.
"Taking into consideration everyone on the island, as a whole, he missed, "are we capable of meeting our obligations? Oliver turned out a total of $1000. He's asking in return $1080. But even if we bring him every dollar bill on the island we'll still be $80 short. Nobody made the extra $80. We turn out produce, not dollar bills. So Oliver can take over the entire island since all the inhabitants together can't pay him back the total amount of capital and interest.
"Even if a few, without any thought for the others, were able to do so, those others would fall. And the turn of the first spared would come eventually. The banker will have everything. We'd better hold a meeting right away and decide what to do about it."
Tom with his figures in his hand, had no difficulty in proving the situation. All agreed they had been duped by the kindly banker. They decided upon a meeting at Oliver's.
10. The benevolent banker
Oliver guessed what was on their minds but put up his best front. While he listened, the impetuous Frank stated the case for the group.
"How can we pay you $1080 when there is only $1000 on the entire island?"
"That's the interest, my friends. Hasn't your rate of production increased?"
"Sure, but the money hasn't. And it's money you're asking for, nor our products. You are the only one who can make money. You've made only $1000 and yet you ask $1080. That's an impossibility!"
"Now listen, fellows. Bankers, for the greater good of the community, always adapt themselves to the conditions of the times. I'm going to require only the interest. Only $80. You will go on holding the capital."
"Bless you, Mr. Oliver! Are you going to cancel the $200 each of us owes you?"
"Oh no! I'm sorry, but a banker never cancels a debt. You still owe me all the money you borrowed. But you'll pay me, each year, only the interest. If you meet the interest payments faithfully each year I won't push you for the capital. Maybe some won't be able to repay even the interest because of the money changing hands among you. Well, organize yourselves like a nation. Set up a system of money contributions, what we call taxes. Those who have more money will be taxed more: the poor will pay less. See to it that you bring me in one lump sum, the total of the amount of interest and I'll be satisfied. And your little nation will thrive."
So our boys left, somewhat pacified but still dubious.
11. Oliver exults
Oliver is alone. He is deep in reflection. His thoughts run thus:
"Business is good. These boys are good workers, but stupid. Their ignorance an naivety is my strength. They ask for money and I give them the chains of bondage. They give me orchids and I pick their pockets.
"True enough, they could mutiny and throw me into the sea. But pshaw! I have their signatures. They're honest, hardworking people were put into this world to serve the financiers.
"Oh great Mammon! I feel your banking genius coursing through my entire being! Oh, illustrious master! how right you were when you said: "Give me control of a nation's money and I won't mind who makes its laws." I am the master of Salvation Island because I control its money.
"My souls is drunk with enthusiasm and ambition. I feel I could rule the universe. What I, Oliver, have done here, I can do throughout the entire world. Oh! if only I could get off this island! I know how I could govern the world without wearing a crown.
"My supreme delight would be to install my philosophy in the minds of those who lead society: bankers, industrialists, politicians, reformers, teachers, journalists, -- all would be my servants. The masses are content to live in slavery when the elite from among them are constituted their overseers."
12. The cost of living unbearable
Meanwhile things went from bad to worse on Salvation Island. Production was up, bartering had dropped to a minimum. Oliver collected his interest regularly. The others had to think of setting money aside for him. Thus, money tended to clot instead of circulating freely.
Those who paid the most in taxes complained against those who paid less. They raised the prices of their goods to compensate for this loss. The unfortunate poor who paid no taxes lamented the high cost of living and bought less.
Morale was low. The joy went out of living. No one took an interest in his work. Why should he? Produce sold poorly. When they made a sale they had to pay taxes to Oliver. They went without things. It was a real crisis. And they accused one another of wanting in charity and of being the cause of the high cost of living.
One day, Harry, sitting in his orchard, pondered over the situation. He finally arrived at the conclusion that this "progress", born of a refugee's monetary system, had spoiled everything on the island. Unquestionably all five had their faults; but Oliver's system seemed to have been specifically designed to bring out the worst in human nature.
Harry decided to demonstrate this to his friends and to unite them for action. He started with Jim, who was not hard to convince. "I'm no genius", he said, "but for a long time now there's been a bad smell about this banker's system."
One by one they came to the same conclusion and ended by deciding upon another conference with Oliver.
13. Interview with the unshackle
A veritable tempest burst about the ears of the banker.
"Money's scarce on the island, fellow, because you take it away from us! We pay you and pay you and still owe you as much as at the beginning. We work our heads off! We've the finest land possible and yet we're worse off than before the day of your arrival. Debts! Debts! up to our necks in debts!"
"Oh! now boys, be reasonable! Your affairs are booming and it's thanks to me. A good banking system is a country's best asset. But if it is to work beneficially you must have faith in the banker. Come to me as you would to a father... is it more money you want? Very well. My barrel of gold is good for many thousands of dollars more. See, I'm going to mortgage your latest acquisitions and lend you another thousand dollars right now."
"So! Now our debt goes up to $2000! We are going to have twice as much interest to pay for the rest of our lives!"
"Well, yes -- but I'll lend you more whenever the value of your property increases. And you'll never pay anything but the interest. You'll lump all your debts into one -- what we call a consolidated debt. And you can add to the debt year after year."
"And raise the taxes year after year?"
"Obviously. But your revenues also increase every year."
"So then, the more the country develops each year because of our labor, the more the public debt increases!"
"Why, of course! Just as in your Canada -- or in any other part of the civilized world for that matter. The degree of a country's civilization is always gauged by the size of its debt to the bankers".
14. The wolf devours the lambs
"And that's a healthy monetary system, Mr. Oliver?"
"Gentlemen, all sound money is based on gold and it comes from the banks in the form of debts. The national debt is a good thing. It keeps men from becoming too satisfied. It subjugates governments to the supreme and ultimate wisdom, that which is incarnate in bankers. As a banker, I am the torch of civilization here on your little island. I will dictate your politics and regulate your standard of living."
"Mr. Oliver, we're simple uneducated folks, but we don't want that kind of civilization here. We'll not borrow another cent off you. Sound money or not, we don't want any further transactions with you."
"Gentlemen, I deeply regret this very ill-advised decision of yours. But if you break with me, remember, I have your signatures. Repay me everything at once -- capital and interest."
"But that's impossible, sir. Even if we give you all the money on the island we still won't be square with you."
"I can't help that. Did you or did you not sign? Yes? Very well. By virtue of the sanctity of contracts I hereby seize your mortgaged property which was what you agreed to at the time you were so happy to have my help. If you don't want to serve willingly the supreme authority of money then you'll obey by force. You'll continue to exploit the island, but in my interests and under my conditions. Now, get out! You'll get your orders from me tomorrow."
15. Control of the press
Oliver knew that whoever controlled the nation's money, controlled the nation. But he knew also that to maintain that control it was necessary to keep the people in a state of ignorance and to distract them by a variety of means.
Oliver had observed that of the five islanders, two were conservatives and three were liberals. That much had evolved from their evening conversations, especially after they had fallen into slavery. And between the conservatives and those who were liberals, there was constant friction.
On occasions, Harry, the most neutral of the five, considering that all had the same needs and aspirations, had suggested the union of the people to put pressure on the authorities. Such a union, Oliver could not tolerate; it would mean the end of his rule. No dictator, financial or otherwise, could stand before a people united and educated.
Consequently, Oliver set himself to foment, as much as possible, political strife between them.
The refugee put his press to work turning out two weekly newspapers, "The Sun" for the liberals and "The Star" for the conservatives.
The general tenor of "The Sun" was: "If you are no longer master, it is because of those traitorous conservatives who have sold out to big business".
That of "The Star": "The ruinous state of business and the national debt can be traced directly to the political responsibility of those unmentionable liberals".
And the two factions wrangled ferociously, forgetting the one who had forged their chains, that money master, the banker Oliver.
16. A priceless bit of flotsam
One day, Tom, the prospector on a small beach hidden by tall grass at one end of the island, a lifeboat, empty except for a trunk in good condition lying in the bottom of it.
He opened the trunk. Among the articles within, a sort of album caught his eye: "The First Year of Social Credit". Between the covers he found the first volume of a Social Credit publication from Canada.
Curious, Tom sat down and began to read the volume. His interest grew; his face lit up.
"Well just look at this!" he cried out loud. "This is something we should have known a long time ago."
"Money gets its value, not from gold, but from the products which that money buys.
"Simply put, money should be a sort of accountancy, credits passing from one account to another according to purchases and sales. The sum total of production.
"Each time production increases there is a corresponding increase in the amount of money. Never at any time should interest be paid on new money. Progress is marked, not by an increase in the public debt, but by the issuance of an equal dividend to each individual... Prices are adjusted to the general purchasing power by a coefficient of prices. Social Credit..."
But Tom could no longer contain himself. He got up and set off at a run, the book in his hands, to share this glorious discovery with his four comrades.
17. Money-- elementary accounting
So Tom became the teacher. He taught the others what he had learned from that God-sent Social Credit publication.
"This", he said, "is what we can do without waiting for a banker and his keg of gold or without underwriting a debt.
"I open an account in the name of each of you. In the right hand column are the credits which increase your account; to the left are the debits which substract from your account.
"Each wants $200 to begin with. Very well. We write $200 to the credit of each. Each immediately has $200.
"Frank buys some goods from Paul for $10. I deduct $10 from Frank leaving him $190. I add $10 to Paul and he now has $210.
"Jim buys from Paul to the amount of $8. I deduct from Jim $8 leaving him $192. Paul now has $218.
"Paul buys wood from Frank for $15. I deduct $15 from Paul leaving $203. I add $15 to Frank's account and it goes back to $205.
And so we continue; from one account to another in the same fashion as paper banknotes go from one man's pocket to another's.
"If someone needs money to expand production, we issue him the necessary amount of new credit. Once he has sold his products he repays the sum to the credit fund. The same with public works; paid for by new credits.
"Likewise, each one's account is periodically increased but without taking credits from anyone, in order that all may benefit from the progress society makes. That's the national dividend. In this fashion money becomes an instrument of service."
18. The banker's despair
Everyone understood. The members of this little community became Social Crediters. The following day, Oliver, the banker, received a letter signed by the five:
"Dear sir' without the slightest necessity you have plunged us into debt and exploited us. We don't need you anymore to run our money system. From now on we'll have all the money we need without gold, debts or thieves. We are establishing, at once, the system of Social Credit on the island. The national dividend is going to replace the national debt.
"If you insist on being repaid, we can repay you all the money you gave us. But not a cent more. You cannot lay claim to that which you have not made."
Oliver was in despair. His empire was crumbling. His dreams shattered. What could he do? Arguments would be futile. The five were now Social Crediters: money and credit were now not more mysterious to them than they were to Oliver.
"Oh!", said Oliver, "these men have been won to Social Credit. Their doctrine will spread far more quickly than mine. Should I beg forgiveness? become one of them? I, a financier and a banker? Never! Rather, I shall try and put as much distance between them and me as I can!"
19. Fraud unmasked
To protect themselves against any future claim by Oliver, our five men decided to make him sign a document attesting that he again possessed all he had when he first arrived on the island.
An inventory was taken; the boat, the oars, the little press and the famous barrel of gold.
Oliver had to reveal where he had hidden the gold. Our boys hoisted it from the hole with considerably less respect than the day they had unloaded it from the boat. Social Credit had taught them to despise gold.
The prospector, who was helping to lift the barrel, found it surprisingly light for gold. If the barrel was full, he told the others, there was something in it besides gold.
The impetuous Frank didn't waste a moment; a blow of the axe and the contents of the barrel were exposed.
Gold? Not so much as a grain of it! Just rocks -- plain, worthless rocks!
Our men couldn't get over the shock.
"Don't tell us he could bamboozle us to this extent!"
"Were we such muttonheads as to go into raptures over the mere mention of gold?"
"Did we mortgage all our possessions for a few pieces of paper based on a few pounds of rocks? It's robbery compounded by lies!"
"To think that we sulked and almost hated one another all because of such a fraud! That devil!"
Furious, Frank raised his axe. But already the banker had taken to his legs in full flight towards the forest.
20. Farewell to Salvation Island
After the opening of the barrel and the revelation of his duplicity, nothing further was heard of Oliver.
Shortly after, a ship, cruising off the normal navigation rout, noticed signs of life on this uncharted island and cast anchor a short distance offshore.
The men learned that the ship was en route to America. So they decided to take with them what they could carry and return to Canada.
Above all, they made sure to take back with them the album "The First Year of Social Credit" which had proven to be their salvation from the hands of the financier, Oliver, and which had illumined their minds with an inextinguishable light.
All five solemnly engaged themselves to get in touch with the management of this paper, once back in Canada, and to become devoted and zealous apostles of the cause of Social Credit in Canada.
The original story page was last updated on 02/25/02.
Lawyerdude’s comments were updated June 6, 2004
6354 version 1.1
Social Credit
http://en.wikipedia.org/wiki/Social_Credit
.From Wikipedia, the free encyclopedia.
Social Credit is an economic theory and a social movement which started in the early 1920s. The Canadian social credit movement was by far the most notable, but the ideas also gained some lesser success in other countries. One such country was New Zealand, where the Social Credit Party gained several seats in the national parliament.
Social Credit was originally an economic theory developed by Scottish engineer Major C. H. Douglas. The name Social Credit came from his desire to make the betterment of society (Social) the goal of the monetary system (Credit).
Social Credit theory proposes that because the amount of money available under capitalism is necessarily lower than the total cost of goods produced, there will always be insufficient money to pay a realistic, sustainable price. He demonstrated this fundamental flaw with his A+B theorem, which states that if A is the payments made to all the consumers in the economy (through wages, dividends, and interest paid to banks) and B is the payments made by producers that are not eventually played out to consumers (such as the overhead costs of buildings and equipment as they wear out) then the price charged for all goods must be at least A+B — an impossibility since only A is available to spend.
For such a system to sustain itself Douglas asserted that a number of things must happen:
People go into debt by buying on credit
Governments borrow and increase the national debt
Business borrow from banks to finance expansion
Businesses sell below cost, and eventually go bankrupt
We win a trade war, putting foreigners in debt to us for our surplus of exports
We have a real war, "exporting" goods such as tanks and bombs to the enemy without ever expecting to be paid for them, financing this by government borrowing
If these things don't happen "businesses are forced to lay off workers, unemployment rises, the economy stagnates, taxes go unpaid, governments cut back services, and we have widespread poverty, when physically all of us could be living in plenty."
Douglas believed that Social Credit could fix this problem by ensuring that there was always enough money (credits) issued to buy all the goods that could be produced. His solution is outlined in three core demands:
For a "National Credit Office" to calculate on a statistical basis the amount of credit that should be circulating in the economy;
. For a price adjustment mechanism to absorb windfall profits in times of inflation, and return them to people in terms of subsidized, lower prices when the cost of goods on the market exceeds the money available to buy them;
. For a "National Dividend" to give a basic guaranteed income to all regardless of whether or not they have a job.
The engineer argued that this last demand makes sense now that automation and labor-saving devices have reduced the number of workers we need to produce our goods, and the hours they would have to work.
Douglas' ideas enjoyed great popularity during the depression, although not enough to realize his plan.
[edit]
Later Versions of Social Credit Theory
Robert A. Heinlein described a Social Credit economy in his first novel, For Us, the Living (published in 2003 Gregorian, but apparently written ca. 1939). (Beyond This Horizon describes a similar system, but in less detail.) The society in the book uses a libertarian method to prevent inflation: the government makes a deal with business owners. Instead of increasing prices, they cut prices, and the government (or the Bank of the United States) pays them the difference after seeing their sales receipts. Like the guaranteed income or heritage checks, this money comes out of the inkwell. The government no longer uses taxation to fund itself. The characters point out that present "fractional reserve" law allows banks to create money (by loaning out many times more money than they have on hand), while in Heinlein's future society only the US government can create US currency.
Robert Anton Wilson proposed another form of Social Credit. His plan aims to end "wage slavery", and begins by offering a reward to any worker who designs him-or-herself out of a job. The guaranteed income (or, in the Schrodinger's Cat Trilogy, a lesser reward to all other workers who "lose" their jobs to innovation) would prevent starvation. This income would consist of "trade aids" which would lose numerical value with the passage of time. This official reduction in value would encourage spending and (although Wilson does not state this explicitly) limit price inflation. Elsewhere RAW attributes this strategy to Silvio Gesell, who also suggested the government encourage small communities to experiment with alternate economic models. If one of these enclaves seemed especially successful, the country could copy their model in place of Gesell's own plan.
Arguments
Many if not all critics of Social Credit have argued that it would cause inflation. Gary North (who wrote a book on Social Credit and allowed it to be placed online) addresses Douglas's plan to stop inflation, but calls it socialistic. He also adds moral arguments, such as the claim that God intends us to work for our survival.
North makes several practical arguments as well (beyond the threat of inflation), all concerning the justification Douglas offered for his plan. First, he states that the fact of consumer debt destroys Douglas's theory. Second, he says the A+B Theorem ignores the fact that all payments go to individuals. Third, he asserts that if the current system causes a break in the flow of purchasing power, so will the guaranteed income payments. Lastly, North proposes that we outlaw fractional reserve banking without instituting Social Credit. He says a 100% reserve free market system would not have any of the flaws Douglas points out.
Heinlein's presentation contains a modified A+B theorem, stressing the argument that all savings remove money from circulation. Wilson does not seem to mention this justification for the plan, stressing instead that the plan (in his view) would end poverty, taxation and wage slavery.
http://www.theuniversityconcourse.com/VIII,2,1-13-2003/Zoric.htm
Catholics employed by the Roman church argue against social credit. They have a vested interest in oppressive banks because they own oppressive banks.
http://www.algaoaktree.com/MoneyMenu.htm
How America created its own money in 1750
Benjamin Franklin tells what made New England prosperous
Colonies were more prosperous than the home country
Before the Declaration of Independence (1776) and the war that
followed, the colonized part of what is today the United States of
America was a Crown possession of England. It was called New England,
and was made up of 13 colonies, which became the original states of the
great Republic.
In 1750, this New England was very prosperous. Benjamin Franklin wrote:
"There was abundance in the Colonies, and peace reigned on every
border. It was difficult, even impossible, to find a happier and more
prosperous nation on all the surface of the globe. Comfort prevailed in
every home. The people, in general, kept the highest moral standards,
and education was widely spread."
When Franklin went over to England to represent the interests of the
Colonies, he saw a completely different situation; the working
population of the home country was gnawed by hunger and plagued by
inescapable poverty. "The streets are covered with beggars and tramps,"
he wrote. He asked his English friends how England, with all its
wealth, could have so much poverty among its working classes. His
friends replied that England was prey to a terrible condition; it had
too many workers! The rich said they were already overburdened with
taxes, and could not pay more to relieve the needs and poverty of this
great mass of workers. Several rich Englishmen of that time actually
believed what economist Thomas Malthus later wrote, that wars and
epidemic disease were necessary to rid the country from "manpower
surpluses."
People in London asked Franklin how the American Colonies managed to
collect enough money to support their poorhouses, and how they could
overcome this plague of unemployment and pauperism.
Thanks to debt-free money issued by the colonial governments
Franklin replied; "We have no poorhouses in the Colonies, and if we had
some, there would be no one to put in them, since in the Colonies there
is not a single unemployed person, not a beggar nor a tramp."
His friends could not believe their ears, or understand how this could
be. They knew when the English poorhouses and jails became too
cluttered, England shipped the wretched inmates like cattle, to be
dumped on the quays of the Colonies if they survived the filth and
privations of the sea voyage. (In those days English debtors went to
jail if they could not pay their debts, and few escaped, since in jail
they could not earn money.)
Franklin's acquaintences, in view of all this, asked him how he could
explain the remarkable prosperity of the New England Colonies.
Franklin told them: "Why, that is simple! In the Colonies, we issue our
own paper money. It's called 'Colonial Scrip.' We issue it to pay the
government's approved expenses and charities. We make sure it's issued
in proper proportion to make the goods pass easily from the producers
to the consumers. In other words, we make sure there is always adequate
money in circulation for the needs of the economy.
"In this manner, by creating ourselves our own paper money, we control
its purchasing power, and we have no interest to pay, to anyone.
Yousee, a legitimate government can both spend and lend money
into circulation, while banks can only lend significant amounts
of their promissory bank notes,
for they can neither give away nor spend but a
tiny fraction of the money the people need.
Thus, when your bankers
here in England place money in circulation,
there is always a debt principal
to be returned and usury to be paid.
The result is that you
have always too little credit in circulation
to give the workers full employment.
You do not have too many workers,
you have too little money in circulation,
and that which circulates,
all bears the endless burden
of unpayable debt and usury."
English Bankers impose poverty on the Colonies
Franklin should not have been so free with his advice, which soon came
to the attention of the powerful English Bankers.
They quickly used their influence to have the
British Parliament pass a law that
prohibited the Colonies from using their Colonial Scrip money.
The new law ordered them to use only credit redeemable in gold and
silver coins that were provided in insufficient quantity
by the banks of England.
And so began in America the plague of debt-based money,
which has ever since brought as many hardships
to the American people, as it has to Europeans.
The first law regulating Colonial money was passed by the British
Parliament 1751, then expanded by a more restrictive law in 1763.
Franklin reported that only one year after implementation of the
prohibition on Colonial Scrip,
the streets of the Colonies were filled
with unemployed and beggars,
just like those he had seen in England,
because there was not enough money
to pay for their goods and work.
The English Banker's new laws
had reduced the circulating medium by half.
Franklin added that this was "the original and true cause of the
American Revolution;"
and not the tax on tea or the Stamp Act,
as has
been taught our children for generations in "history" books.
The Financiers (bankers) of every generation
manage to have removed from school books
any information that can throw light on their own schemes
and fraudulent actions that protect their power over the people.
Franklin, one of the chief architects of American independence,
put it clearly:
"The Colonies would gladly have borne the little tax on tea
and other matters had it not been for
the poverty created by the bad influence
of the English Bankers on the Parliament,
which has caused in the Colonies
hatred of England and the Revolutionary War."
Other great statesmen of that era,
including Thomas Jefferson,
John Adams,
and George Jackson confirmed this point of view held by
Franklin;
and later by Andrew Jackson and Martin Van Buren.
Abraham Lincoln and John Kennedy
both issued sovereign money,(United States Notes)
James Garfield tried, and all three died in office.
A remarkably honest English historian, John Twells,
speaking of the money of the Colonies,
their Colonial Scrip, wrote:
"It was the monetary system under which America's Colonies
flourished to such an extent that Edmund Burke
was able to write about them:
'Nothing in the history of the world resembles their progress.
It was a sound and beneficial system,
and its effects led to the happiness of the people.'
"
John Twells added:
"In a bad hour, the British Parliament took away
from America its own scrip money,
forbade any further issue of such bills of credit,
these bills ceasing to be legal tender,
and ordered that all taxes should be paid in British coins.
Consider now the consequences:
this restriction of the medium of exchange
paralyzed all the industrial energies of the people.
Ruin took place in these once flourishing Colonies;
most rigorous distress visited every family
and every business, discontent became desperation,
and reached a point, to use the words of Dr. Johnson,
when human nature rises up and asserts its rights."
Another historical writer, Peter Cooper,
expressed himself along the same lines.
After saying how Franklin had explained to members of
Parliament the reason for the prosperity of the Colonies,
Cooper wrote:
"After Franklin gave explanations on the true cause of the prosperity
of the Colonies, the Parliament enacted laws forbidding the use of
this money in the payment of taxes.
This decree, clearly in the interest of
the British bankers who stood behind the Crown,
brought so many drawbacks and so much poverty
to the people that it was the main cause
of the Revolution.
The supression of the Colonial money was a much more
important reason for the general uprising
than the Tea and Stamp Acts."
Return to United States Notes
Remove the Danger-Eliminate FederalReserve Notes
Return to United States Notes
Today, in America as well as in Europe,
we are under the regime of the
Scrip of the Bankers instead of the scrip of the sovereign nations.
Hence the enormous public debts,
everlasting interest (usury) charges,
taxes that plunder purchasing power
and rob the production of the people,
with the result being more and more consolidation of the
financial dictatorship.
Where shall we start to correct the fraud of the bankers?
ReIssue "United States Notes"!
The first step in the monetary reform
being advocated by more and more
action groups of educated and intelligent people
is precisely the replacement of the banks' debt money
by debt-free money issued by the
Constitutionally mandated sovereign government of the nation,
theUnited States Congress,
and elsewhere, the British Parliament,
and similar governments.
The President or Congress can do this by
ReIssuing "United States Notes".
It is the duty of those governments to serve
and protect their people,
not allow financial robber barons to destroy them.
We must end the dictatorship of the moneyed interests!
It will soon become clear to you that we need to abolish the Federal
Reserve Banking System as a privately owned central bank controlled
partly by foreign interests.
Check clearing must be taken over by the
U. S. Treasury Department, and the commercial banks of our system must
no longer be permitted to create and issue debt money by fractional
reserve deposit expansion.
A debt money system never provides money to
pay interest,
so the banks ultimately acquire all the People's property
by foreclosure, as Thomas Jefferson said they would.
Learn more.
Study this go-oaktree site http://www.algaoaktree.com/MoneyMenu.htm
until you begin to grasp the essentials of our
money problem.
Learn the truth, before it is too late.
Find out how you
can help yourself and your nation.
Write your representative in Congress Today.
Tell them WE Want "United States Notes"
For much more information, simply to a Google search for “social credit” or “fractional reserve banking”
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My biggest fattest briefs:
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More Lawyerdude links and Recommended Reading list
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People who link to me:
33. I thank Bill Munro http://www.landrights.com I thank http://www.commonlawvenue.com/ I remember Dan Meador http://www.lawresearch-registry.org/ , http://www.geocities.com/CapitolHill/Rotunda/4027/ ; http://www.wakeupaustralia.net ; http://home.houston.rr.com/jtyner/links
Updated: March 14, 2005. Upgraded my links group.