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Re: MONETARY: Discussion of Monetary Reform
George Orwell, where are you now that we need you? I just read the
first two chapters by James Robertson in his book with John Bunzel.
I agree wholeheartedly with the authors on the need for radical
overhaul of the US and global monetary system. I also agree on the
need for interest-free money and strict ways to discourage the pandemic
of usury that keeps the poor of all countries from enjoying the
abundance that current economic systems deny them. And I join the
authors in seeking global peace, a sustainable global environment and
economic justice for all.
I'm not an anarchist, but, as one who shares with most citizens of the
world a natural distrust of government -- society's only legitimate
institutional monopoly, that over all instruments of coercion and force
-- I shudder to think of a world or any nation-state that would so
centralize power over money and all economic transactions as would be
the presumably unintended consequence of a money system developed by
James Robertson. Joe Stalin and Hitler would have loved Robertson's
idea of a central monetary authority creating out of thin-air
debt-free money that would all flow as debt-free revenues directly to
national governments (and eventually to a single global government like
the UN) "to spend it into circulation for public purposes."
As a
committed American revolutionary and one who accepts Lord Acton's
warning about the corrupting effects of concentrated power, especially
over the power over money and ownership of productive capital, I do not
ignore the implications of Baron Mayer Amschel Rothschild when he
proclaimed, "Let me issue and control
a nation’s money and I care not who writes the laws." (Frederick
Merton, The Rothschilds, A Family Portrait, New
York: Atheneum, 1962.) There are no realistic checks on the power over
money in the system advocated by Robertson. Combining the monopoly
power over money with a monopoly over the nightsticks, jails and other
normal instruments of state coercive power is a certain formula for
totalitarianism, even if the elite in control of money and state power
were Mother Teresas. Power corrupts and as one whose life is dedicated
to the design of laws and institutions that systematically diffuse all
forms of social and governance power to the level of the individual
human being, I find Robertson's solution to the money problem
politically naive, socially dangerous and ultimately the opposite of
economic justice, as we in the Just Third Way
(http://www.cesj.org/thirdway/comparison3rdway.htm) would define that
term.
(http://www.cesj.org/definitions/glossary.html#Anchor-Justice-4127)
I agree with
Robertson that modern money (i.e., so-called fiat money) is created out
of thin air, and I believe that money should be used in ways that
enhance the sanctity of life and the sovereignty (i.e., economic
independence) of every human person.
But money is a form
of credit and therefore should be backed by something more concrete
than the promise of a central authority. It is a contradiction in
terms for him to talk about "debt-free" money since in human economic
exchanges a buyer is automatically in debt to a seller until the buyer
returns something of equal value (or money that can be exchangeable
into something of equal value) to the seller.
I see nothing in
Robertson that even deals with credit as an essential means by which
the poor and middle-income people without savings can be supplied with
interest-free and insured capital credit to become owners of the new
capital needed in the world to create abundance for all. His solution
is that the poor reduce consumption to own capital, a certain formula
for a continually growing wealth gap among nations and within nations.
He seems not to be at all familiar with Louis Kelso's writings,
particularly The New Capitalists: A Proposal for Freeing Economic
Growth from the Slavery of Savings (with Mortimer Adler, 1961,
downloadable at www.kelsoinstitute.org) and Harold Moulton's The
Formation of Capital (Brookings, 1935) And the millions of American
workers who have become owners of over 10,000 US companies (and other
around the world who emulated them) would never have done so if Kelso
and others had not orchestrated a campaign to get laws enacted that
democratized capital credit for corporations and cooperatives.
Robertson's reforms ignore the socially progressive uses of capital
credit and fail to distinguish between good (i.e., productive) and bad
(i.e., non-productive or even destructive) uses of credit , as
proposed under our Capital Homestead Act.
My response
here is not to attack, but to offer a more just, more empowering and
effective solution to the injustices inherent in world's monetary
system. Our monetary alternative to Robertson's reforms can be
read in chapter
VII in our book, Capital Homesteading for Every Citizen, which can be
downloaded free at http://www.cesj.org/homestead/capitalhomesteading.pdf
Our Center
for Economic and Social Justice would be happy to co-sponsor a debate in Washington
on
our alternative approaches to monetary reform with James Robertson and
John Bunzel. Ideally it would be after the ARP event at the Federal
Reserve on April 21st, which is absorbing much of our time.
Norm Kurland
www.cesj.org
www.globaljusticemovement.org
www.americanrevolutionaryparty.us
John Bunzl wrote:
best wishes
John B.
-----
Original Message -----
Sent:
Thursday, March 02, 2006 7:53 PM
Subject:
Re: MONETARY: Discussion of Monetary Reform
Dear Pablo,
You're wondering what can be done to change the money systems of the
world, given to highly concentrated power of those now holding
financial and political power. The answer is to mobilize and organize
those fed up with the system to target their "people power" on the
systemic injustices of the money system.
Here's a statement demanding reforms to the Federal Reserve policies: http://www.cesj.org/about/programs/declarations/monetaryjustice.htm.
And here's what that group is doing about it: http://www.cesj.org/specialreports/focusonfed_050415.html.
If you or any others in COG's monetary reform group support this
group's agenda, then consider yourself invited to join this year's
gathering of celebrants of monetary justice at noon on Friday, April
21st on the Constitution Avenue entrance of the Federal Reserve System
headquarters (the American "Temple of Money") between 20th and 21st
Streets, N.W. in Washington, D.C. When monetary reformers focussing on
the Fed and BIF reach a critical mass of people power money, power will
be democratized from the bottom-up.
Norm
pablo444@gmx.net
wrote:
Hello Dan and Mr Frazee -
Certainly, having met with both Rodney and Peter on several
occassions at the London Round Table meetings, I can vouch for their
total familiarity with the corrosive nature of the incumbent money
system.
The question of course is what action should be taken?
There is a camp that seeks to influence Govt (and related
institutions) to take control of the money supply so that all money
be issued debt free and without interest. One could call it
Lincolnism or perhaps Greenbackism. I am not of that camp (though I
would be overjoyed were they to succeed) based on the reasoning that
I am not aware of any incumbent power group happily giving up the
reigns of their power to another group, merely because that other
group had a "better" way of doing things.
The predominant money system is a societal control mechanism for
ensuring that those at the top (as they themselves view things)
remain at the top. And Govts enjoy considerable power in the current
arrangement and have little incentive, as yet, to give it up. They
love to spend money on their latest pet socialist projects (a never
ending stream of those) and this privately issued, publicly disguised
money system suits that purpose very well.
A way I tend to favour is to work towards out-competing the current
money system. And in this fun, capitalist complying model, I see gold
as a favoured ammunition.
To put things into contentious and politically incorrect language,
the aim simply, is to launder Federal Reserve Notes, Euros, GB Pounds
etc into gold and then conduct an ever increasing % of your daily
transactions in gold. Laundering is the correct term when one
considers the true nature and qualities of a Federal Reserve Note,
primary amongst which are:
1. It loses value relentlessly and can do nothing else under the
"Let's print a Billion" ethos of the Fed.
2. It is issued as a debt, repayable by the Govt.
3. It is interest bearing in such a design that its repayment is
technically impossible, so giving the lie to point 2.
4. It's acceptance in payment of taxes gives it its coercive, force
backed quality which degrades free exchange.
5. It has produced a group of users who, because of its system
design, are literally addicted to it and require an ever increasing
amount to feed their addiction.
6. By subtly setting all men against one another, it gradually and
inevitably destroys civilised behaviour and with it civilisation.
Federal Reserve Notes and drugs produce similar effects and for that
reason, "Laundering" them is in fact a moral, social and spiritual
imperative. Govts are already "addicts" and therefore it is
unrealistic to expect them to cure themselves or to treat kindly
anyone who may be manouvering to cut off their supply.
So, launder FRN's into gold and then use gold (or any other precious
metal) to effect transactions.
Why gold?
The primary reason is that no one, that is NO ONE, can make more of
it at the drop of a hat. Not even the people who may head up and run
the multiplicity of private gold currency systems such as e-gold,
pecunix, goldmoney, e-bullion etc etc.
I am not gold bug. And in his book "The Lost Science of Money",
Stephen Zarelenga clearly shows the mistaken thinking around gold as
money. But his alternative, to trust Govt, is naieve. Gold is the
least worst option, of that there is no doubt.
Here's to an Honest Money System (no matter what form it may
ultimately take).
Regards
Pablo
On 2 Mar 2006 at 4:50, Dan Parker wrote:
Dear Mr. Frazee,
Having communicated with Rodney Shakespeare, and having
read the book he co-wrote with Peter Challen (who heads
the Christian Council for Monetary Justice), I can say that he,
along with many of us, are aware of the monetary dynamics
you so poetically describe.
The bigger question is how best to advance monetary
reform. We are engaged in a variety of efforts. I self-
publish a magazine, do the website for the Alberta
Social Credit Party and also one for Global Justice.
As well we have had city councils pass resolutions calling
for the creation of interest-free money etc.
I think it is important to try to bring a lot of these ideas
together to create synergy, which is needed due to the
resources of the opposition. We have put enough resources
together to effectively educate.
http://www.whitecourtweb.com/whitecourt_advisor.htm
http://www.globaljusticemovement.org/
http://www.socialcredit.com/
Regards
Dan Parker
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