OWNERSHIP: Re: Alaska General Stock Ownership Corporation (AGSOC)

["Norman G. Kurland" <thirdway@cesj.org>]

Dear Mike,

Thanks for the detailed and informative response.  Given your immediate
focus on launching the direct democracy movement, I appreciate your taking
the time for so thorough a response.  You'll be interested to know that a
growing number of thoughtful activists in the Social Credit Movement have
become interested in binary economics and the Capital Homestead reforms to
the monetary, tax, inheritance and social security systems that have
dehumanized and disenfranchised so many human beings in America and around
the world.  Mr. Ryan is not one one of them.

You might want to contact Dan Parker at danparker@socialcredit.com and
register your organization as a founding organization of the Global Justice
Movement.  It's a great way to attract activists in your relentless effort
to return power to the people through direct democracy initiatives.  Paul
Hellyer of the Canadian Action Party and a number of groups trying to change
the money systems have joined GJM.

I'm getting great feedback about your moving presentation on Saturday at our
CESJ 19th anniversary celebration.  It was good seeing you and your lovely
wife Whitney again, and we look forward to working together on our common
goal of restoring economic and political power to the people, in the US and
throughout the world.

You're a true patriot of justice.

In Peace through Justice,
Norm



Senator Mike Gravel wrote:

> Dear William B. Ryan:
>
> I don't know the source of your information, but you are totally in
> error about what I was trying to do in the late seventies in Alaska with
> respect to a portion of the pipeline in Alaska. I hope you will make an
> effort to correct the dissemination of this false information.
>
> My plan called for the purchase of British Petroleum's (BP) 1/6 interest
> in the pipeline by assuming their bonds and a cash payment, the proceeds
> of a loan or additional bonds that would be secured with the collateral
> of a "take or pay contract" with the state for moving its royalty oil
> through the pipeline to Valdez.
> This arrangement would have produced a cash flow sufficient to amortize
> all the debt and produce a profit sufficient to initially pay out $300
> to each Alaska shareholder of the AGSOC.
>
> BP had informally agreed to the sale. Several years later, a BP official
> told me that the sale would have been a mistake for them since the
> pipeline revenue, unrelated to the fluctuations in oil prices, was the
> only guaranteed revenue they had in Alaska.
>
> The AGSOC plan, develop by Louis Kelso and myself, did not require an
> investment by any Alaska citizen or the state. The state was moving its
> oil at the tariff rate regardless of ownership. There was no investment
> of state royalties ever contemplated. The plan was a classic use of
> credit under Kelso's Two Factor economic theory. The wealth in question
> was created by the capital ownership in the pipeline through the use of
> credit -- that's the way the rich folks do it.
>
> The royalty oil revenue is an entirely another matter. The Permanent
> Fund was merely a set-aside of that revenue to be invested and the
> profits from which are to be distributed to Alaska citizens. It also is
> a dwindling asset depending on the nature of the funds investments. All
> production tools a dwindling investments.
>
> The difference between the AGSOC and the Permanent Fund (which I
> supported when it was obvious the state was not going to make the proper
> capital improvements) is a matter or control. The AGSOC would be
> controlled by citizen/shareholders directly empowering each individual
> economically. The Fund is controlled by representative government --
> with the entire undemocratic shortcoming that entails -- a small gaggle
> of politicians and their well paid investment advisors..
>
> There is a lot more to the political side of this story, but time does
> not permit me to elaborate.
>
> Senator Mike Gravel
> U.S. Senate 1969-81
> 703-516-4056 fax 703-516-4056
> SenGravel@ni4d.us
> Web site: www.ni4d.us


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