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

From: Bill Ryan (william_b_ryan_at_hotmail.com)
Date: 11/20/04 

Date: 20 Nov 2004 06:37:38 -0800

What difference does it make to the person who you
pay to build your house whether you pay $100,000 from
an interest bearing loan or a non-interest loan? They
do not get a lick of the interest from the interest
loan, the bank does. Your argument bears no semblance
to intelligence whatsoever. Think before you write.
----------------------------
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[REPLY] Might I suggest you read some real books and
get a modicum of education before you write? The
banker is middleman between the community and the
borrower. He is effectively agent for the community
in endorsing the promissory note of the borrower,
which he exchanges for his note in the form of a
credit to the borrowers account, which the borrower
uses to pay the homebuilder. The community (the
ultimate lender) - not you specifically - pays for
your new house. You pledge to repay the community
over thirty years. The bank is a business that pays
interest to its depositors (its creditors) and
receives interest from its debtors (you). Its profit
is the differential between the two that it receives
in payment for services rendered to both you and the
community. The interest the bank pays the community
is effectively dividends on the increasing wealth the
community - not you specifically - helped create.
Which makes possible new houses for people like you
(borrowers) who could otherwise not pay for them
without saving a lifetime. Since people like you
(meaning borrowers) are enabled to live in new houses
they could not otherwise acquire, people like you
(borrowers) are also sharing in the increasing wealth
the creditary system facilitates and you help create.
->

> > How are your recommendations NOT tantamount to
pure
> > FASCISM?
> > -
>
> Please stop with the name-calling, and propaganda.
> -------------------------------
> -----------------------------
> [REPLY] I asked you a question. Please answer it.
> -

I am a Capitalist, like Abraham Lincoln.
----------------------------
--------------------------
[REPLY] Which you follow with still more dubious
quotations from the Internet. You still haven't
answered the question. Let me slightly rephrase it.
How is centralizing credit in the state and
suppressing private creditary mechanisms not
tantamount to pure fascism?
-

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