Re: TURMEL: Ben Franklin, Prof. Flaherty, on Death gamble

From: Bill Ryan (william_b_ryan_at_hotmail.com)
Date: 11/05/04 

Date: 4 Nov 2004 20:00:32 -0800

But you left off the qualifier, that bankers
underconsume "in a manner that is different than is
the case for any other group of transactors in the
economy." Unless you can demonstrate that bankers do
so, beyond mere assertion, it's time to shut up. 

--
"...creating money from nothing, and charging 
interest is profitable to the lender, and inimical to 
the borrower..."
-------------------------
----------------------
The banker does not create money from nothing, but 
monetizes the credit of the community, thereby 
facilitating production, distribution and 
consumption.  That is generally profitable to lender 
and borrower in the first instance, ultimately 
benefiting the community as a whole through the 
increased wealth that the entrepreneurial process 
facilitates.
It is incumbent on you - the stereotypical crank - to 
demonstrate why it is inherently "inimical" to the 
borrower or to anyone else.  If you can't do that, 
just shut up.  Mere assertion won't do it.
-
oejmd@yahoo.com (Castlef) wrote in message news:<6f6ec514.0411040532.67da6fc9@posting.google.com>...
> william_b_ryan@hotmail.com (Bill Ryan) wrote in message news:<45bb7944.0411030905.7df26509@posting.google.com>...
> 
> 
> "Case closed on interest per se being the cause of the problem"
> 
> Wrong there... You see I even agree with you that "The only way that
> "debt virus" can be salvaged in any form is to demonstrate that
> bankers somehow
> "underconsume" "... or in other words, not spend the money back into
> circulation throwing a monkey wrench into the operation. But this
> still does not in any way conclude that the case is closed and that
> interest is not the cause of the problem. If you cannot see how
> creating money from nothing, and charging interest is profitable to
> the lender, and inimical to the borrower ... then I beseech you to
> open your eyes, because your limited point of view is the kind that
> drags everyone, including yourself, down.
> 
> > 
> > The only way that "debt virus" can be salvaged in
> > any form is to demonstrate that bankers somehow
> > "underconsume" in a manner that is different than
> > is the case for any other group of transactors in
> > the economy. The mechanism how this can occur
> > needs to be actually described, not merely assumed
> > as some sort of unspecified "constant" that
> > "correlates" to observed data.
> > 
>  www.geocities.com/socredus/compendium
> > -
> >

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