MR Radio: Migchels, Bowery Address Malign Economics

Posted by DanielS on Monday, 20 October 2014 19:35.

                        AM       
                               
http://www.majorityrights.com/audio/AnthonyMigchelsWithJimBowery.mp3

                        anthonymigch



Comments:


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Posted by DanielS on Tue, 28 Oct 2014 20:22 | #

A county currency proposal

countycurrency.org/CountyCurrency.pptx


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Posted by The Talent on Sat, 22 Nov 2014 11:19 | #

Anthony introduces “The Talent”, a new currency

The logo of the Gelre, the first unit based on the Talent. Soon we will launch a national unit for the Netherlands)

Introducing The Talent
by Anthony Migchels on November 19, 2014

Alternative currencies are a crucial component in addressing our monetary problems. However, the monetary architectures that are currently available are wholly insufficient to provide serious relief for Main Street. The Talent is the first independent currency model that provides all functions that modern currencies need to truly compete within the Dollar/Euro paradigm. Not only that: it is now available for immediate implementation at ultra low cost.

Interest slavery and the ongoing gutting of the West through the credit crunch continue to erode living standards everywhere. Small and Medium business is suffocating for lack of credit and demand in the economy, while Big Business is reporting record profits and claiming larger and larger shares of the market.

High class units, operated professionally by people who know what they are doing, have every opportunity to provide small and medium business with both the liquidity they need to operate and new customers. Alternative currencies are not only a great customer loyalty program, as people can spend the units only with the businesses who accept them, they also have the potential to seriously alleviate the liquidity problems of the business’s customers.

In hard times, alternative currencies tend to boom. During the Great Depression literally hundreds of them were operated in the United States. In Spain and Greece, hit hard by the Euro Crisis, have seen dozens of units spring up. Argentina has been surviving because of them since its 1998/2002 collapse.

Most famous is the Swiss WIR, which has been turning over billions since its inception in 1934. It’s famed for its stabilizing effect during recessions, when capital scarcity makes it more worth while for business to deal with its limitations.

Limitations of Alternative Currencies
However, the Alternative Currency market remains handicapped by major problems. Amateurism and lacking monetary architects of the units being the main ones. The currencies that manage to thrive are typically run by energetic people. The WIR shows how far even very primitive currencies can go if run by a professional organization.

This shows both in the superficial analysis of both the real nitty gritty of the monetary problems that we face and the political context. The field is dominated by idealists. Over the last few years a marked improvement in terms of political awareness is definitely palpable: say five years ago most in the alternative currency business were oblivious to that bankers behind it all, for instance. Nowadays this is no longer the case, everybody is used to ‘conspiracy’. But this creates a new problem: the disconnect between the awareness on the web and the stone age conversation that is still the norm in the mainstream.

At the moment the discussion about the monetary architectures that are available is mounting and that is indeed very important, but still much remains to be desired.

Entrepreneurial ambition is really key to make it all work, but this must be combined with level headed appreciation of the monetary and this combination has shown to be very elusive indeed.

The Key Challenge for Modern Currencies
There are two major architectures that hold sway: Euro/Dollar backed units and Mutual Credit based units. Most units work with the basic agreement that 1 Unit = 1 Euro/Dollar, meaning they use the Euro or Dollar as unit of account.

The Euro/Dollar backed units, for instance the American Berkshares, the German Chiemgauer or the British Brixton Pound, are created by selling units: A Berkshare is sold for $1. The Dollar is held by the issuing organization, the Berkshare is spent into circulation at a local business. The local business can spend the unit with a colleague or pay an employee. If at some point a business acquires more Berkshares than it can spend in the network, they can reclaim a Dollar for every unit with the issuing organization.

The great boon of this system is that it allows convertibility of the unit. However, the great downside is that there can never be more Berkshares in circulation than the issuer has Dollars at hand. This means that there can be no interest-free credit. Money scarcity remains a real issue, as the money supply is dependent on scarce Dollar.

Mutual Credit based systems create money as credit: participants, businesses in particular, can just get a credit line in the unit and start spending. The minute they do, new money comes into circulation. When a debtor repays, money is taken out of circulation.

The great upside of this system is that there is no money scarcity: people will typically experience an abundance of money and a shortage of places where they could spend the units. The exact opposite of the Dollar/Euro situation, where most have less money than they would need to invest. There is interest-free credit.

But this comes with a price: there is no Dollar/Euro in the bank to back the unit or to convert. And this is a real problem, because there will always be businesses, usually the more succesful ones, providing popular goods or services, who obtain too many of the units, more than they can usefully spend in the network and they will have to limit there intake, creating serious bottlenecks in trade.

The Talent
The Talent answers these challenges by providing the first fully convertible Mutual Credit based unit in the world. By providing an online exchange where people can buy and sell the unit. See here for a full breakdown of the system: http://realcurrencies.wordpress.com/2012/01/10/mutual-credit-for-the-21st-century-convertibility/

The Talent is a complete set of software and best practices, that is now available to everyone who wants to start his own currency. It can be implemented at very low cost and provides the start up with everything he needs to operate a truly comprehensive currency backed with high class methodology, incorporating the lessons learned with 80 years of experience with these units worldwide.

Implementation of the Talent comes with full consultancy for the starting initiative by the system’s developer, the writer of these lines.

The Talent’s proposition is particularly ideal for entrepreneurial people who know what is at stake, who see the clear business opportunity that creating high class, professionally run units provide for both participants and the initiator himself.

By implementing the Talent, the entrepreneur can focus on building the network and the organization necessary to run it, resting assured he’s offering his participants the best complementary currency currently available anywhere.

The Talent is the first unit in the world that provides everything we expect from money:
- It is sufficiently available (‘abundant money’)
- It provides interest-free credit
- It is convertible to Euro/Dollar
- Allows payment on-line and by mobile phone
- Connects both businesses and consumers and potentially (local Government)
- Implementation comes with full consultancy.

All in all the Talent is the first architecture that truly allows head on competition with Dollar or Euro in the marketplace.

The Time is NOW
Years of research and development have been invested in the Talent. It answers all the major issues facing those in the field today. The first unit based on the Talent is the Gelre, which is in pilot phase and for which we are currently raising funds for wider marketing. Soon a national variant for the Netherlands will be launched.

Implementation is seriously considered in the United States, Britain and Ireland.

Funding remains a huge issue. It’s sad: not so much money is required, but while there are Trillions available for saving banks, it’s very hard to get even a few thousand to save us from the banks.

However, we will soon launch a major crowd funding initiative, where you will have a hands on chance to make a difference in the struggle against the Banks and their Usury and deflation and for normal people looking for a reasonable deal!

Concepts of the Gelre, or: What is ‘High Powered Working Capital’?
Mutual Credit for the 21st century: Convertibility

 


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Posted by AnthonyAtRI on Sat, 29 Nov 2014 15:07 | #

Anthony discusses the philosophically proper place of the economy and the history of Jews and usury in Europe by contrast

http://www.redicecreations.com/radio/2014/11/RIR-141128.php


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Posted by AnthonyOnBasicIncome on Mon, 15 Dec 2014 19:07 | #

Robert Stark interviews Anthony on basic income

http://www.starktruthradio.com/?p=939


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Posted by InsideWallstreet on Sun, 04 Jan 2015 09:16 | #

In bed with Wallstreet

http://www.senseoncents.com/2014/11/in-bed-with-wall-street-book-talk-at-library-of-congress/


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Posted by Crying for Argentina on Sat, 21 Feb 2015 09:19 | #

http://www.radixjournal.com/journal/2015/2/19/cry-argentina-part-i

Cry Argentina, Part I

Alex Fontana · February 19, 2015

  “There are two sorts of wealth-getting, as I have said; one is a part of household management, the other is retail trade: the former necessary and honorable, while that which consists in exchange is justly censured; for it is unnatural, and a mode by which men gain from one another. The most hated sort, and with the greatest reason, is usury, which makes a gain out of money itself, and not from the natural object of it. For money was intended to be used in exchange, but not to increase at interest. And this term interest, which means the birth of money from money, is applied to the breeding of money because the offspring resembles the parent. Wherefore of any modes of getting wealth this is the most unnatural.” - Aristole

Argentina, along with Uruguay, are abnormalities within the mulatto stud farm that is the South American melting pot. They are two countries where 97% and 88% of the respective countries’ populations have European ancestry and thus, are of particular importance to European Nationalists as potential safe havens. However, Argentina is also the home of some 250,000 Jews, the sixth largest concentration of the tribe in the world, many of whom are descendants of Maurice de Hirsch’s, Rothschild funded, Jewish Colonisation Association, which imported Jews from Russia to Argentina and South Africa in 1891.

It is not difficult to conflate the current President of Argentina, Cristina Kirchner with that of the third wife of the fascist dictator Juan Peron, Isabel Perón. As the only two women to be head of the country, it is as if the two occupy and give form to the same psychic image of Argentina–resilient, defiant, proud, and yet preyed upon by far away cabals. Indeed these two cultural figures fit narratively as feminizations of the Latin underdog standing up to the tyrant of international finance which pokes and prods its way into places it does not belong—not unlike the former head of the IMF, Jewish banking scion and all around scumbag Dominique-Strauss Khan’s unsolicited anal penetration of a prostitute at an Eyes Wide Shut-esque orgy. Perhaps illustrating why Dante, following Aristotle and Aquinas, placed usury and sodomy within the same circle of Hell. Recently Harvard historian Niall Ferguson (author of two tomes and family friend of the Rothschild family), called the inflationary trickle-down economist John Maynard Keynes “a childless gay man who couldn’t give his wife conjugal satisfaction and had no concern for the impact of deficits on posterity.” Interestingly the mixed economy of Keynesian economic theory allows for both private play and government intervention during recessions–not unlike the lifestyle of Keynes’ free play with young men outside the stability of his marriage. Not surprisingly, now that the global economy has bust again, a resurgence of Keynesian theory in the form of stimulus packages has been ushered in.

Back to Kirchner, who, like Peron before her, inherited the Presidency of Argentina when her husband and predecessor suddenly died. However, unlike Peron, Kirchner has been reelected and not ousted by a Western backed military coup. She has also inherited a different circumstance of usurpation; a “soft power” financial strong-arming that is as pernicious as the former and certainly more insidious–or as journalist Rodolfo Walsh, who was murdered by the junta which precipitated the current crisis, wrote: “the economic policy of this government, rather than a justification for its crimes, is a greater atrocity that punishes millions of human lives with its planned misery.”

Indeed, the narrative goes back to the time of Isabel Peron’s brief reign and to the 1976-81 “civic-military” junta which installed the Videla dictatorship, which initiated the neo-liberal policies that Kirchner is currently combatting in motion. Cristiana Fernandez de Kirchner’s administration has reopened crime proceedings against those responsible for the tens of thousands of people who disappeared in the secret prison system of the “dirty war,” and set precedence by prosecuting those in the private sector who facilitated the crimes for economic gains.

This is why of those who “disappeared,” a total of 31 were employees of Argentina’s national bank, and a handful were from the Central Bank which Juan Peron had nationalized exactly 30 years prior to the junta on March 24, 1946. This coup represented a virtual purging of the institutions that protected the Argentinean people from the arbitrage and foreign direct investment (FDI) schemes of what would precipitate and necessitate, what Kirchner has called the “vulture capitalists” who are leeching the nation today. Those, like the Jewish hedge fund CEO Paul Singer, who is also on the board of the Institute for National Security Affairs and neocon flagship Commentary. Singer is the main culprit in despoiling the nation through the implementation of the neo-liberal economic model that was installed via state terrorism in the 1970s. As I wrote earlier:

  “When we observe the facts, that when the holdouts on the payout had to emerge from beyond the swampy, shadowy, opaque world of private investments, to claim their pound of prime triple A Argentinian flesh - it is non-other, than the usual suspects who emerge from behind the scene (scheme). Paul Elliott Singer, a real New York Jew and CEO of Elliott Management Corp, who is described by Argentinian President Cristina Fernandez as a “vulture capitalist”, and whose “principal investment strategy is buying distressed debt cheaply and selling it at a profit or suing for full payment,” and another tribesman Mark Brodsky of Aureilus Capital as the principal holdouts on the restructuring. While fellow tribesman George Soros has emerged as another of the bond buyers who is suing BNY Mellon for withholding funds from the initial settlement with Argentina. Of course calling the whole thing a criminal enterprise, which will negatively impact millions of Argentinians for generations, and enrich a handful of Jewish investors like Soros, Brodsky and Singer, is beyond the pale of Argentina’s power, not to worry anyways, because the tribe has one of their own in, Axel Kicillof, the Minister of the Economy, overseeing the whole transaction of a nation’s wealth into the pockets of some Jewish hedge fund types”....

http://www.radixjournal.com/journal/2015/2/19/cry-argentina-part-i


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Posted by Swiss accounts expose Tories, Jews on Wed, 25 Feb 2015 13:50 | #

Tory funding scandal explodes in the UK: The ethnic angle

February 25, 2015 — Francis Carr Begbie

It is not very surprising that rich people use secret Swiss bank accounts to hide their fortunes from the taxman.  Nevertheless the political implications of the biggest bank leak in history at HSBC ensure that it will ricochet around the world for some time to come.

The accounts of over 100,000 wealthy clients have been opened to scrutiny by a whistle blower and show that the Swiss branch of Britain’s biggest bank was dealing not only in industrial-scale tax evasion but, apparently, money laundering as well. While holding a Swiss bank account is not illegal, hiding income from the taxman is, and traditionally that is the only reason someone would have a Swiss account — unless they worked in that country.

All kinds of wealthy flotsam have bobbed up — Middle Eastern royalty, hedge fund owners, politicians, industrialists, Belgian blood diamond smugglers, Israeli arms dealers, African dictators, fashion designers, international models, entertainers and many more. Fresh revelations are revealed practically every day.

The fallout has been biggest in Britain where the ruling Conservative elite has ended up with egg on its face after seven of its largest donors were exposed as beneficiaries of HSBC’s Swiss tax arrangements. The Tories received £5 million from those HSBC Suisse account holders.
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Typical was Lord Stanley Fink, godfather of the hedge fund industry, who himself gave £3 million to the party of which he once was treasurer. Lord Spink insists his affairs are all above board.

Nevertheless, the leaked files seem to show how HSBC’s Swiss private bank colluded with clients to conceal billions of dollars worth of assets and circumvent domestic tax authorities, and there are strong suggestions that the British tax authorities deliberately turned a blind eye to what was going on.  Most of the really incriminating evidence for this is contained in notes written by bank staff and filed with the accounts

Since the story broke a week ago there has been angry scenes in the House of Commons, allegations of media corruption (The Telegraph is accused of not printing negative stories over the HSBC scandal because HSBC is a major advertiser), a parliamentary committee roasting for the tax inspectors. Abd finally a raid by the Swiss tax inspectors on the Geneva branch of HSBC.

All the angles have been covered. Except one — the ethnic angle.  For one of the most conspicuous aspects of the story is that in country after country it is wealthy Jewish individuals who are among those most determined to keep their fortunes away from the taxman in their native jurisdiction.

This was a pattern that emerged in many countries but particularly so in Britain where it has a political sensitivity.  For Jewish businessmen like Lord Fink, who have been generous donors to the Conservative Party, are also amongst those who are most politically active on behalf of Israel or the wider Jewish community.  Fink himself is a leading light of the Conservative Friends of Israel as well as the influential Jewish Leadership Council.

Given that 80 per cent of Conservative MPs are Conservative Friends of Israel, you would think that this would merit some comment or at least raise a journalistic eyebrow. But no, the rule of kosher omerta prevails when it comes to the uncomfortable ethnic dimension.

It takes a Monty Pythonesque sense of the absurd not to see what is a glaring ethnic pattern. One of Britain’s favourite comic creations was John Cleese as demented hotelier Basil Fawlty. He used to shout at his long-suffering staff “Don’t mention the War” lest they offend German hotel guests. Today the media cry seems to be “Don’t mention the Jews.”

Apart from Lord Fink, Jewish donors in the HSBC files include Lord James Sterling of Plaistow, a shipping entrepreneur who was ennobled by Margaret Thatcher and is still active in Jewish political circles. Sterling was linked to three HSBC accounts totalling £7.8m.

Another big Tory donor named is that of high street retail king Lord Philip Green who as well as being a huge benefactor to the Tories has also donated at least £4.25 million to Jewish charities. He says there is nothing unusual about the movement of vast sums between his Monaco-based wife’s HSBC Suisse accounts and that of a close business associate and another generous Jewish donor, flamboyant businessman Richard Caring who lives life of luxury that would do justice to Louis XIV.

Caring, has donated six figure sums to both Labour and Conservatives at various times. He banked up to £100m in HSBC Suisse. He too insists he has paid everything he owes. Caring is a good example of those who have advantage of a peculiarly British tax dodge favoured by the wealthy — the non-domicile status. This is a tax loophole which dates back to colonial times and allows individuals to keep their assets offshore if they can persuade tax inspectors that they intend to eventually leave the country for good. It is a much abused tax break that has allowed generations of the wealthy to avoid paying tax. It helps if you have foreign parentage like Caring who had an American father.

One family which may have taken advantage of this arrangement are the inheritors of the fortune of the Anglo-French financier Sir James Goldsmith. Fashionable Tory MP Zac Goldsmith speaks about Israel at Jewish leadership groups.  He has, with his brother Ben and their mother Lady Annabel, donated over £500,000 in cash and in kind to the Conservatives. It seems the family have very tangled Swiss accounts, according to the leaks, with connections to various tax jurisdictions in the Cayman Islands and elsewhere.

Edward Lee, who is on the board of Conservative Friends of Israel, has given some £85,000 to the Tories. Lee and his brother were sons of a prominent London property developer, who set up offshore trusts for them in the seventies. Their Swiss accounts had a value up to £2m. Lee says all his tax affairs have been correctly declared and reported: “I have paid all tax as and when due.”

Not even the management of HSBC itself has been spared by the revelations.  Rona Fairhead, who is Jewish, is one of the most well connected women in Britain. Today she is chair of the BBC Trust, the corporation’s governing body, but before this she was on the HSBC’s Audit and Risk Committee.  She has refused to answer the Guardian’s questions about what she did or didn’t know.

The family tax arrangements of another Jewish member of HSBC management have been revealed as a result of the leaks. The Lewisohn banking family of London have been caught up in this scandal, again, through their use of the hereditary non-domicile tax loophole.

According to the Guardian, Oscar Lewisohn was himself a director of HSBC’s Swiss bank until 2006 and had the equivalent of more than £9 million in HSBC accounts that year. Because he had a Danish passport he was able to pass on this hereditary perk to his two UK-born sons. The Lewisohns’ lawyers said: “Both children were at the same time Danish under Danish law and British under British law.”

According to Haaretz,  an estimated 6,500 Israelis held about $10 billion in secret bank accounts at the Geneva branch of HSBC between 1988 and 2007; this ranked Israel as sixth in the list of countries with the most money hidden in the Swiss accounts.

No matter where you turn in this story or which country you look at, Jewish businessman proliferate. Again there is a repeated pattern.  Dual citizenship with Israel is common as is elaborate corporate structures involving business associates or relatives.

Read the rest of the story at TOO:
http://www.theoccidentalobserver.net/2015/02/tory-funding-scandal-explodes-in-the-uk-the-ethnic-angle/#more-26799

 


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Posted by E. Michael Jones: Netangamble on Thu, 12 Mar 2015 05:08 | #

E. Michael Jones on Netanyahu’s gamble

https://www.youtube.com/watch?v=og-DReAydUs



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Posted by Social Credit on Mon, 20 Apr 2015 16:35 | #

More On Social Credit And A Letter By the erudite Dick Eastman

by Anthony Migchels - April 14, 2015

Recently, Social Crediters have been campaigning against the notion that Usury is the core of our monetary problems. To them it’s the Gap, the difference between purchasing power of the consumer base and output of the productive sector.

However, the Gap is mostly caused by Usury and it’s becoming more and more difficult to understand why the Social Crediters are not willing to admit to this.

(Here’s my analysis of Social Credit for those new to the issue)

Here’s a recent effort by Oliver Heydorn for the Social Credit camp on the socred.org website.

Dick Eastman convincingly took him to task on the issue of Usury being the Gap. Dick communicates via his email list, so I can’t link to it, but email me if you want to get on Dick’s list to receive his top notch work.

And next he wrote me a friendly letter (see below this article), looking to bridge our differences.

The Gap is the difference between what workers produce and the wages they receive. Because wages are lower than the value of production, there is a constant lack of purchasing power for the workers to mop up their own production.

Major Douglas was the one to point at this phenomenon. He proposed printing debt free money by the Government and allowing the people to spend the new money into circulation. If you print only as much money as is necessary to buy up ‘excess’ production, no ‘inflation’ (rising prices) will ensue, Douglas claimed.

I’m not really convinced that this will be ‘inflation’-free, by the way, and I don’t think Dick Eastman is either, he just doesn’t care much and correctly notes that inflation is really the very least of our problems as it stimulates economic growth and reduces the value of debts, things only bankers and the ultra rich hate.

Be that as it may, bottom line is that Social Credit to some extent compensates for Usury in this way and this is why I personally sympathize with the scheme.

Dick Eastman, who wants to use Social Credit to end Rothschild tyranny, has been making the case for years that Douglas’ ‘Gap’ is basically the interest on loans of money. As Eastman correctly notes, the Bankers don’t spend the money back into circulation, but hoard it, to cause deflation.

I’m adding to this they also simply lend it back into circulation, as the extra interest drain of the interest lent back into circulation will only worsen the deflationary pressures both in the medium and long term. In this way they let compound interest also work to crunch us with ever worsening money scarcity (while printing ever more money! Neat, huh?)

The Gap is calculated to be around 50% of production by Social Crediters. Obviously, it’s no coincidence that about 40% of the prices we pay for goods and services are Usury passed by the producers. As calculated in Helmut Creutz’ ‘the Money Syndrome’.

It seems to me that this more or less speaks for itself and in the to and fro between the Social Crediters and Dick Eastman I also could not find any real rebuttal of this by the SC’ers. Dick’s simply right. It’s not an ‘accounting issue’ (as the SC’ers put it), it’s the interest-drain.

Downside of Social Credit
Clearly, this being the case, we need to solve Usury first and what remains of the Gap after we do, can be solved with some extra liquidity if needs be.

Social Credit’s main problem is that it compensates what people lose to Usury. However, people will still be paying, even with freshly printed notes.

Why do the Usurers need to continue to suck up Trillions per year? That’s the whole issue, is it not? We have a couple of Trillionaires at the top of the food chain who have stolen the rightful inheritance of the Earth’s masses through compound interest.

It’s all unearned income. All that these guys do during the day to ‘make’ this money is bribe politicians, newspapers and ‘economists’.

Compensating people for the interest-drain is not enough. The interest-drain itself must be stopped.

Responding to Dick Eastman
As Dick notes, we do agree on a great many issues and we share a hobby too: preparing Austrians for luncheon. Especially the Austrians’ criminal defense of deflation is something both Dick and myself feel very strongly about indeed.

Furthermore, while I do have a proposal of my own, I’m not at all hung up on it.

The Goals of Monetary Reform as I see them are to
1) end Usury and its associated scarcity of money
2) end artificial inflations and deflations, the boom-bust cycle
3) democratize credit allocation, so bankers nor technocrats can direct the economy.

These are the parameters along which I have analyzed the different monetary reform proposals out there, including Dick Eastman’s (the latter in email correspondence, not on Real Currencies).

I support with reservations anything that moves in the right direction, and unreservedly all proposals that achieve the three main goals of monetary reform as I see them.

Dick wants to replace the current usurious credit based money supply with Social Credit and allow for free full reserve banking, assuming that competition between banks will lead to low interest rates and decent behavior of these institutions.

In the diagrams in his letter we can see how his proposal would lead to constant circulation of all the money, including that used for interest-payments. So the interest-drain, or gap, will be solved.

However, in doing so Dick, like the wider Social Credit community, also overlooks that Usury is paid by those who don’t have money to those that do. Ie: the poor will borrow from the middle classes, who in turn will borrow from the rich. At least some of the wealth transfer through Usury will continue. It will still be the rich depositing money to lend in these banks.

Furthermore, while Eastman hopes to reach out to our Muslim brethren in the faith, he ignores why Islam rejects Usury: because it is unearned income. In Islam every transaction must lead to both participants adding to the greater whole. The Usurer just takes. He adds nothing, risks nothing and loses nothing.

In an interest-free environment there is no ‘risk’ as all risk is mutually insured, just as the credit is mutual. ‘Debtors’ (people promising to pay) pay a one off service charge to cover the risks for the community. Since most lending will come with collateral, risk is minimal as it is anyway.

This is in fact already the case today. There is no real ‘risk’ in the financial industry. For instance: houses going under water is because of the deflation the banks cause themselves willfully.

Last, I’m not as optimistic as Dick is about the disciplining effects of the market on bankers. Bankers will be bankers, experience shows. Eastman puts them in a cage, but a wild animal can find ways to escape, especially if its incentive, Usury, remains in place. They will be colluding again in no time. Such is the power of the love of money and its weaponization: interest on loans of money.

He puts my position as: “Your answer is simple enough. Kill the vampire — and have government make the loans at zero interest.  Certainly that remedy would fix the problem.  Usury is killed.  You are happy.  Luther is happy.  Mohammed (pbuh) is happy.  God is happy.  Right?”

But then points at the problem of Government being in control of credit creation and allocation.

And that obviously is indeed a major problem, if Government is the one to dole out the credit.

However, that is not my position. It would not achieve goal number three: democratic credit allocation.

I’m looking for interest-free credit facilities that work according to a clear cut charter, semi-private, semi-public not-for-profit institutions. And they should allocate the credit based on rights. The understanding must be that people simply have a right to credit as it is their promise to pay which is monetized. The Money Supply and the Credit of the Nation are part of the Commons and all commoners have rights to access to their fair share in the available credit. Based on rules that balance the needs and rights of both individuals and the community (other individuals).

They must be credit worthy, based on collateral and have a reasonable plan (a normal business, a mortgage). The credit facility must provide no more credit than stable prices allow.

In this way credit allocation can be to a large extent made to be predictable. No technocrats looking for control, but professionals simply facilitating people’s natural rights.

90% of society’s demand for credit can be covered in this way. What remains are risky ventures. These need financing too, but this can be reasonably done on an investment basis, where those providing the capital also share in the risk. Brokerages can provide the infrastructure for this.

What is more, and this is the key point: what Eastman proposes, full reserve banking, can just as well be done interest-free! People can just save with ‘banks’ (for lack of a better word) interest-free and their money can be used for lending, as long as the ‘bank’ guarantees the deposit, which can be well done by having borrowers pay one off charges to cover uncollateralized defaults. This is known as JAK Banking.

And let us not forget that Usury is the main cause of defaults to begin with. Clearly the credit worthiness of people vastly increases if they don’t have to pay interest on their loans.

Conclusion
Solving Usury will solve at least 80% of the gap. It’s really hard to see how the Social Crediters can get around this.

However, Usury is worse than just the gap. It’s a wealth transfer from those who don’t have money and thus must borrow to those who have already more of it than they can spend.

It is unearned income.

The whole idea that money should breed money is irrelevant.

The Time Value of Money is a hoax, cooked up by 16th century Jesuit monks in Salamanca, who laid the groundworks for what later became Libertarianism. This was the end of Usury prohibition in Europe. It paved the way for centuries of Usury and is leading directly to the destruction of the West and to World Government.

There is no need for Government nor Banks to control lending, it can all be done in democratic, decentralized, and not-for-profit fashion.

Let us end all rents and unearned income. The economy should be based on production, not parasiticism.

Having said this, I admire Dick’s work and I’m grateful for this opportunity to make this case against Usury once more, and to fire up everyone to take up arms against the Money Power menace.

Let us not rest until this Demon is defeated once and for all!


11

Posted by How U.S. became an oligarchy on Sun, 10 May 2015 11:31 | #

Robert Stark interviews Ellen Brown about How America became an Oligarchy (by contrast to what neo-Liberal theory proposes will happen).

http://www.starktruthradio.com/?p=1202

Stark and guest cohost Charles Lincoln Interview Ellen Brown. Ellen is an attorney, president of the Public Banking Institute, and a candidate for California State Treasurer. She has written twelve books, including Web of Debt: The Shocking Truth About Our Money System and How We Can Break Free (2010), and The Public Bank Solution.

Topics include:

The Public Bank of North Dakota

How Wall Street makes it hard to create loans to start small business

How the Green Party Mayor Gayle McLaughlin of Richmond, California stood up to Big Oil

The Foreclosure crisis and how banks sit on millions of empty homes

How America Became an Oligarchy

How Private Bank Notes cause inflation

The Trans-Pacific Partnership and the Death of the Republic

California Water Wars: Another Form of Asset Stripping?


12

Posted by The Money Masters on Sat, 20 Jul 2019 05:59 | #

The Money Masters



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Comments

Al Ross commented in entry 'Out of foundation and into the mind-body problem, part four' on Tue, 19 Mar 2024 06:26. (View)

Al Ross commented in entry 'Out of foundation and into the mind-body problem, part four' on Tue, 19 Mar 2024 06:09. (View)

Al Ross commented in entry 'Out of foundation and into the mind-body problem, part four' on Tue, 19 Mar 2024 05:41. (View)

Al Ross commented in entry 'Out of foundation and into the mind-body problem, part four' on Tue, 19 Mar 2024 05:24. (View)

James Bowery commented in entry 'Out of foundation and into the mind-body problem, part four' on Tue, 19 Mar 2024 02:16. (View)

Thorn commented in entry 'On Spengler and the inevitable' on Mon, 18 Mar 2024 23:20. (View)

Guessedworker commented in entry 'On Spengler and the inevitable' on Mon, 18 Mar 2024 00:31. (View)

Thorn commented in entry 'On Spengler and the inevitable' on Sun, 17 Mar 2024 23:58. (View)

Thorn commented in entry 'A Russian Passion' on Sun, 17 Mar 2024 23:12. (View)

Thorn commented in entry 'Out of foundation and into the mind-body problem, part four' on Sun, 17 Mar 2024 13:01. (View)

Thorn commented in entry 'Out of foundation and into the mind-body problem, part four' on Sun, 17 Mar 2024 12:27. (View)

Al Ross commented in entry 'Out of foundation and into the mind-body problem, part four' on Sun, 17 Mar 2024 08:34. (View)

Al Ross commented in entry 'Patriotic Alternative given the black spot' on Sun, 17 Mar 2024 08:11. (View)

Al Ross commented in entry 'Patriotic Alternative given the black spot' on Sun, 17 Mar 2024 07:20. (View)

Manc commented in entry 'Patriotic Alternative given the black spot' on Sat, 16 Mar 2024 22:29. (View)

Thorn commented in entry 'Patriotic Alternative given the black spot' on Sat, 16 Mar 2024 19:15. (View)

Guessedworker commented in entry 'Patriotic Alternative given the black spot' on Sat, 16 Mar 2024 19:03. (View)

Manc commented in entry 'Patriotic Alternative given the black spot' on Sat, 16 Mar 2024 18:15. (View)

Guessedworker commented in entry 'Patriotic Alternative given the black spot' on Sat, 16 Mar 2024 17:31. (View)

Thorn commented in entry 'Patriotic Alternative given the black spot' on Sat, 16 Mar 2024 12:46. (View)

Thorn commented in entry 'Patriotic Alternative given the black spot' on Sat, 16 Mar 2024 12:27. (View)

Al Ross commented in entry 'Patriotic Alternative given the black spot' on Sat, 16 Mar 2024 07:14. (View)

Al Ross commented in entry 'Patriotic Alternative given the black spot' on Sat, 16 Mar 2024 05:38. (View)

Al Ross commented in entry 'Patriotic Alternative given the black spot' on Sat, 16 Mar 2024 04:54. (View)

Al Ross commented in entry 'Out of foundation and into the mind-body problem, part four' on Sat, 16 Mar 2024 03:51. (View)

Al Ross commented in entry 'Patriotic Alternative given the black spot' on Sat, 16 Mar 2024 03:47. (View)

Al Ross commented in entry 'Patriotic Alternative given the black spot' on Sat, 16 Mar 2024 03:44. (View)

Al Ross commented in entry 'Patriotic Alternative given the black spot' on Sat, 16 Mar 2024 03:39. (View)

Al Ross commented in entry 'What lies at the core' on Sat, 16 Mar 2024 03:28. (View)

Al Ross commented in entry 'Out of foundation and into the mind-body problem, part four' on Sat, 16 Mar 2024 03:19. (View)

Guessedworker commented in entry 'Patriotic Alternative given the black spot' on Fri, 15 Mar 2024 23:34. (View)

Guessedworker commented in entry 'Patriotic Alternative given the black spot' on Fri, 15 Mar 2024 23:32. (View)

Thorn commented in entry 'Patriotic Alternative given the black spot' on Fri, 15 Mar 2024 22:53. (View)

Thorn commented in entry 'Out of foundation and into the mind-body problem, part four' on Wed, 13 Mar 2024 23:04. (View)

James Bowery commented in entry 'Out of foundation and into the mind-body problem, part four' on Wed, 13 Mar 2024 12:35. (View)

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