[GJM] Announcement: American Monetary Institute conference [CITS Capital & Debt Watch Alert]

[W. Curtiss Priest]

Dear Norman,

I appreciate your reply.

As you may know, I am a personal colleague of Robert Ashford's, as
I worked with his brother, Nick, at MIT for 10 years.

Robert has tutored me "in the ways of binary economics."

As we know, there are Kelso roots to all this, and Robert
worked with Kelso.

And, binary economics goes to the question of ownership of
capital.

Meanwhile, Stephen only flirts with these issues.  He does
ask, "what is the basis of the monetary system?" -- but, one
answer is to simply reply, "fiat money."

Who owns capital may or may not be an issue Stephen wishes
to raise.

Similarly, we have Douglas' concept of Social Credits.  I
believe that that approach also sidesteps the ownership
issue, but, tries to adjust for it, by a wealth transfer from
the owners of capital to "labor."

I, myself, simply look at labor productivity, which, is, yet
a third, and I believe identical way to look at the same
problem.

When I was young and naive, I was pleased to hear when labor
productivity was increased, as I "bought the party line that
any rise in productivity benefits all."

However, today, I understand that any and all benefits that
arise from labor productivity, that is not returned to the
worker, either through Kelsonian (Kelsenian?) ownership or
through the Social Credit, goes into the pockets of the owners
of capital.

And, beyond the issue of fairness and equity, all agree that
as monetary wealth flows only to "capitalists" -- there is
an inevitable wealth imbalance, as workers find that they can only
afford all production by accruing debt.

And, now we have arrived at my "favorite topic."  When debt
rises to an ugly level there is a giant implosion -- as many
of us expect shortly.

Such an implosion is inevitable until we do one of two things:

	1.  we place restrictions on indebtedness that, then,
		makes the implosion impossible to occur

	2.  we transfer wealth, either by ownership or credit
		that makes the implosion impossible to occur

Now.

As we look at the real world, we see that we have accomplished
none of these, and hence a mighty implosion is due.

If we look at the lessons learned after 1929-1932, as I
see best describe by Rudolph L. Weissman, "The New Federal
Reserve System: The Board Assumes Control.  New York: Harper
& Brothers, 1936 -- Warburg, Miller, Eccles, Glass and Harding
did not understand the cause of the crash, and thought the
causes were mostly due to speculation.

If any of you have not read Weissman, I find it necessary
reading.  Try:

	http://used.addall.com

I am not saying speculation isn't causal to the implosion, but,
perhaps more, just the side-effect of those with wealth, playing
parlor games.

I have copied this note to a few others, as, some may wish
to comment on my simple notions.

Regards,

Curtiss


		

Norman Kurland wrote:
> 
> Dear Curtiss,
> 
> I and my colleagues in the Global Justice Movement would be interested
> when Stephen Zarlenga and his colleagues become interested in Kelso's
> binary economic paradigm.  To discuss money without recognizing the
> barriers existing in the current money and capital credit systems to
> enabling every human being to have more equal access to the social means
> of democratizing future capital ownership opportunities, reflects, in my
> opinion, moral blindness if not collective elitism among most monetary
> reformers.   Please note that Zarlenga never acknowledged my sending him
> for his comments my paper on monetary reform which was published in the
> Journal of Socio-Economics
> (http://www.cesj.org/binaryeconomics/price-money.html).
> 
> If Zarlenga wants to earn our respect, let him debate me, Robert Ashford
> or Norman Bailey in any public forum on how to reform the world's
> monetary systems.
> 
> The overcoming ignorance and confusion on money is a noble and
> achievable goal.  But few will listen to those who do not address the
> role of money in exacerbating the wealth gap inherent in the
> power-concentrating, exclusionary and alienating paradigms of capitalism
> and socialism.
> 
> Regards,
> Norm Kurland
> 
> W. Curtiss Priest wrote:
> > Dear financially-concerned,
> >
> > Consider attending the 3rd annual AMI Monetary Reform Conference
> > in Chicago at Roosevelt Unversity, Sept. 27-30:
> >
> > http://www.monetary.org/2007conference.html
> >
> > AMI, headed by Stephen Zarlenga, is a needed voice amidst
> > the ignorance and confusion about money.
> >
> > Regards,
> >
> > Curtiss
> > Editor, CITS Capital & Debt Watch
> >
> >

-- 


	   W. Curtiss Priest, Director, CITS
      Center for Information, Technology & Society
         466 Pleasant St., Melrose, MA  02176
   781-662-4044  BMSLIB at MIT.EDU http://Cybertrails.org