Re: TURMEL: Ben Franklin, Prof. Flaherty, on Death gamble
From: Bill Ryan (william_b_ryan_at_hotmail.com)
Date: 11/06/04
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Date: 6 Nov 2004 06:12:21 -0800
The banker does create money from nothing. And are
you arguing that because they do provide a means of
an exchange, it is benefiting us?
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Yes. As to the phrase, "from nothing," simply means
in legal terminology, "by contract." All contracts
pertain to the future which does not presently exist.
My qualifier was "monetizes the credit of the
community," which is what banking does.
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Lol. I do not deny that having the bankers create
money is better than having no money at all. But the
point is that for their service they should charge a
service fee instead of interest.
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"Service fee" in the context of banking is simply
another name for interest. If you don't think so, it
is incumbent on you to explain the difference.
Most of the quotations you append are fabrications.
I believe the Patterson quotation is from the Bank of
England's founding charter. Patterson was a
privateer who took gold plundered from Spanish ships
back to England. He saw how the gold stimulated
trade and commerce in England. He realized that
"contractual" or "creditary" money could do the same
thing, without the necessity to plunder Spanish gold.
The "Sir Josia Stamp" quote is definitely a
fabrication.
The Frederick Soddy quote may be genuine, but you
provide no citation. Soddy's Nobel was in chemistry,
not economics.
The Hawtry quote may be genuine, but again you
provide no citation. He uses "out of nothing" in the
contractual sense.
The Federal Reserve quote is probably correct. It is
a statement of fact.
The Britannica quote may be correct, but how do you
know? I'm sure you just copied it from somewhere
else.
The Graham Towers quote may be correct, but again,
how do you know?
I do not believe the Reginald McKenna quote is
correct, although I agree with the statement. But
you wouldn't know if it is correct or not, since you
just copied it from others.
The Thomas Jefferson quote is the most egregious
fabrication of all, in league with the fabricated
"Ben Franklin." It is a fabrication of its face to
even a half way literate person. I am quite certain
that Jefferson never used the term "central bank."
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