>Article #4252 (4252 is last):
>From: "NoTiG" <NoTiGG@...>
>Newsgroups: alt.fan.john-turmel
>Subject: Open Letter to John Turmel
>Date: 16 Dec 2006 20:21:31 -0800

N: This letter is intended for john Turmel, a person whom I
respect. It describes where I feel John is right and where
he is wrong on the issues of our current monetary system.

If you want to reply to me... Please post it to your own
group as well as anywhere else. You have replied once to a
post long ago to some group I never even read and only found
by accident one day after doing a google search.

Where I feel John is Right:

Interest is the problem. I don't think it's the only problem
but it is the main problem.

JCT: It is the prime instability, cause, out of which all
the other evil symptoms arise. "The love of money is the
root of all kinds of evil." And the only reason people love
their chips is because they gain babies in some bankster
way.

N: That a debt based currency is not necessarily a bad
thing.

JCT: It's just as useful to pay one person with another
person's IOU as with another person's asset.

N: Just because money is loaned out, and increases a debt is
not necessarily a bad thing.

JCT: As long as the debt matches the money. When the debt
exceeds the money issued is when the problem of mort-gage
death-gambler arises.

N: What is bad is the interest attached. All money
constitutes a debt... but what keeps it form being
inflationary is that it is a debt and is eventually paid
back.

That a Gold or metal backed currency is not the answer.

JCT: It doesn't matter what medium is used, paper, metal,
computer credits, it's the positive feedback on the debt
making debt grow beyond the amount of money issued.

N: That is how we got into this mess in the first place
through fractional reserve banking.

JCT: Fractional reserve banking isn't the main abuse, it's
just a silly way of determining how many chips will be
issued. Instead of issuing chips based on how much
collateral is being pledged at the cage, it's based on how
many chips are deposited in the savings deposit section so
it can act like a piggy bank, never issuing new chips until
someone deposits old chips and in that way, the suckers are
fooled into thinking they're getting the old chips.

N: The power of money is inherent once it is legalized in
the form of taxes. That is half the argument.

JCT: Like King Henry's tallies. When he issued a tally chip
to pay for a government expense, he added a tally tax needed
to eventually remove it from circulation and make valuable
to everyone within the tax-region.

N: The other half thinks a gold or silver backed currency is
necessary to control inflation.

JCT: The yellow or silver rock advocates are dinosaurs.

N: The problem is that fractional reserve banking is a
farce. It is dumb. of a special privilege class by any
Government that ever existed.

JCT: It surely grants banking corporations an incredible
privilege by being able to create a nation's money and
decide who can get some as well as loansharking new chips to
them at the same time.

N: The system is private, conducted for the sole purpose of
obtaining the greatest possible profits from the use of
other people's money.

JCT: For the use of new money. The other people's money is
only involved in determining how many new chips can be
loaned out. .

N: They know in advance when to create panics to their
advantage. They also know when to stop panic. Inflation and
deflation work equally well for them when they control
finance."
Charles Lindbergh

JCT: A great man.

N: The system I propose is two-fold: one that the government
creates the money to pay federal activities instead of
borrow it at interest from any middle man such as the fed.

JCT: A winner move.

N: Then they tax the same amount back through taxes.

JCT: The winner solution.

N: Any amount that they don't tax back in excess of what
they spend would be very visible inflation.

JCT: Only for instantaneous services. If it's issued in
exchange for collateral, it need only be removed as the
collateral depreciates. There can be no inflation in a good
poker chips system.

N: That in the private sector, loans are given out interest
free. However instead of arbitrarily giving them out... they
should be just as hard, if not harder to get than in the
current system.

JCT: No need. Since there is no "impossible-to-pay" growth
of debt and every payment going against principal, almost
everyone will eventually get out of debt and no one should
worry about how much credits others are using. If your
disabled cousin dies in the negative, we'll all chip in to
cover his negative when he dies. If he dies in the positive,
we all get a little chipped into our accounts. More will die
in the positive than the negative so why worry?

N: For instance.... if I get a loan now at 5% interest for
25 years at 200k, the same loan can be paid back in 13 years
interest free.

JCT: So why worry about failure when it has been reduced
to a minimum.

N: Therefore the person who would have gotten that 25 year
loan, would get an equal loan in an interest free system,
but only if they paid it back in 13 years or less.

JCT: No need to pressure payment since every payment goes
against principal. No matter how slowly it's paid, it
usually will get paid off when every payment goes against
principal.

N: Now on the issue of foreclosure...... it would reduce to
a negligible amount if interest was 0 since interest itself
increases the risk.

JCT: There would be no involuntary foreclosures. Sure,
people who gamble on a loser industry will return the
unbought materials to the store-house and chalk up the loss
of time to their accounts but this will be voluntary.

N: But there still needs to be some action taken if it
happens.

JCT: No, if everyone's rich, no cares how quickly others are
paying their debts.

N: And if the foreclosure isn't subsidized visibly through
taxes then it will be subsidized invisibly through
inflation.

JCT: And since there's be no involuntary foreclosure, there
will be no inflation needed to subsidize any loss. Any such
loss remains to the deficit of the citizen who blew it.


--
Abolitionist Slave Leader John C."The Banking Systems Engineer" Turmel
for UNILETS interest-free time-based currency in U.N. resolution C6
to Governments in the http://www.un.org/millennium/declaration.htm
http://www.cyberclass.net/turmel 519-753-0645 USENET: can.politics