[GJM] Larouche -- interest-free loans for public capital --Kucinich and the AMI

[Rodney Shakespeare]

Hi Peter,
1.    Hudson to be adviser to Kucinich?  What a fascinating piece of information!

Hudson has a background in Georgist site valuation tax and I believe he went to ?Lithuania for a while recently and talked about that but it is far from clear to me exactly what Hudson would advise. He's great as a critic of the system and great on things like tax havens but,  on the key issue -- the money supply and its uses -- is he for interest-free issuance (directed at the development and spreading of productive capacity) or for debt-free issuance (like Social Credit)? 

 If anybody knows anything specific about this, please say.  He's certainly for Jubilee debt cancellation but exactly what would he do about interest-free or debt-free money?  Perhaps somebody would ask him for me (and copy me into the correspondence, should be fun).  No, Hudson must debate here on GJM or not at all -- he usually writes on the gang8 discussion list which prevents people like me (and probably you, Peter) from replying. 

And here's a question for Hudson -- he talks about the productive sector, so what would he do about it?  Keep it narrowly owned as at present?  Nationalise it?

2.  The Hudson news is actually part of an increasing Good News.  What is undoubtedly happening around the world, in all sorts of nooks and crannies and, increasingly, around a camp fire  out in the open and certainly in some government circles, is discussion; people are attempting to think anew, turn to unorthodox activists/authors etc and, yes, somebody like Kucinich turns to Hudson who has certainly written well on the situation as a result of the USA going off the gold standard.

I shall remain sceptical of Hudson on monetary reform until I hear something specific and think it possible that the rumour of an attack coming from Hudson is probably because people are waking up to the fact that, once you admit that interest-free loans can be used for public capital, you can then see that they can be used for ALL form of capital investment (even student loans) as well).

So if Hudson is warming up for an attack it's because he knows that the subject (binary loans etc) is making headway.  People like Hudson do not attack something which they do not think is making headway.  
It is a negative aspect of human nature to attack when something is making headway.  Sad, but true.

Anyway,  I really am beginning to think that  the interest-free genie is nearly out of the bag.  At all conferences etc I now spell out one thing -- you only have to do a small bit of interest-free public capital investment (say a bridge or sewage works) and that opens up the uses of interest-free loans for everything else.  

Nice to be in contact again.

Rodney Shakespeare.

----- Original Message ----- 
From: "Peter Hogwood" <p_t_hogwood at yahoo.com>
To: "Discussion Forum for Global Justice" <discussion at globaljusticemovement.net>
Sent: Friday, August 10, 2007 3:28 AM
Subject: Re: [GJM] Larouche -- interest-free loans for public capital --Kucinich and the AMI


Rodney, perhaps you didn't know that your favorite
economist--Michael Hudson--has been named "Chief
Economic Advisor to the Kucinich for President
campaign," as per this announcement by Hudson to the
Gang8 list:

"August 2, 2007 

"Re: [gang8] Financial 'Rescue' in Germany and Its
Implications 

"Dear James, 

"How indeed can one rescue a Ponzi scheme? The cost
becomes infinite thanks to the short doubling times
involved. All bailouts must fail in the end - but at
the cost of transferring property and future income
from the productive sector to the financial sector.
(The US Government is still calculating interest
mounting up on World War I's Inter-Ally arms debts.)
The fact that the German banks got caught up is
especially ironic, because Germany has been freer than
any other country of a real estate bubble - thanks to
its tradition of group co-op housing. 

"I'm trying to introduce this line of analysis into
the US presidential campaign, as I've just been named
Chief Economic Advisor to the Kucinich for President
campaign. I'm putting together a group of economists
to draft a tax and financial plan that he'll defend,
not only for this campaign but via his position on
Congressional Committees. I'll ask him whether we can
appoint foreign economists to sign on as well. 

"Arno - don't you think the article below, and James's
points, would be interesting to Erik re his up-coming
conference on the financial crisis and housing? 

"Michael"





--- Rodney Shakespeare
<rodney.shakespeare1 at btinternet.com> wrote:

> Dear Steve,
> 
> 1.    Are you joking?   Kucinich follows Zarlenga? 
> Kucinich is behoven to Zarlenga because he married
> Zarlengas's researcher ? Purleez. 
[snipped]


       
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