[GJM] True or False?

[Peter Hogwood]

That's right, Rodney.  The question is nonsensical. 
The United States government creates exactly zero
percent of the USA's money supply.  It's all created
by the banking system.

Peter


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

> I do not understand Steve's  question.  For a start,
> at a meeting on 
> Wednesday evening in London,  an American author
> stated that the American 
> banking system creates around 99% of the USA's money
> supply.
> 
> Rodney Shakespeare.
> ----- Original Message ----- 
> From: "Richard Foley" <rerailer at earthlink.net>
> To: "Discussion Forum for Global Justice" 
> <discussion at globaljusticemovement.net>
> Sent: Thursday, October 11, 2007 8:07 PM
> Subject: Re: [GJM] True or False?
> 
> 
> > Yes.
> >
> > Richard D. Foley
> >
> > PS:  But no less absurd than life itself be given
> only to be
> > surrendered in death.
> >
> >
> > On Oct 9, 2007, at 12:02 PM, Steve Consilvio
> wrote:
> >
> >> Hi All,
> >>
> >> I would like ask everyone to answer the following
> question, with a
> >> true or false response:
> >>
> >> --->  Is it absurd for the government to coin the
> currency, and then
> >> ask for it back again in taxes?  <----
> >>
> >> I realize some or many of you would like to color
> your response with
> >> an explanation, or to return a question instead,
> which is okay, but I
> >> would like your answer as "true" or "false" as
> well.
> >>
> >> I believe that the answer is "true," and that all
> of our economic
> >> problems ripple from there.  There is no policy
> that can correct an
> >> absurdity, except ending the absurdity.  That, of
> course, is a much
> >> larger discussion, but I wanted to get a sense of
> people's feeling on
> >> the premise.
> >>
> >> True means that it is absurd.
> >> False means that it is logical.
> >>
> >> If you don't want to clutter up the list, then
> just send me your
> >> response directly  off-list, and I will announce
> the results.  (That
> >> would probably be best for those who reply but
> don't comment.)
> >>
> >> Use steve at behappyandfree.com
> >>
> >> Let me add one more thing, so you understand why
> I ask the question.
> >> In theory, the purpose of the currency is to
> allow the barter of
> >> goods and services between citizens.  In reality,
> most of the barter
> >> is between citizens and the government.  The
> government is the
> >> largest "business," the biggest customer, the
> largest employer, etc.
> >> As such, the currency exists for the government,
> and not for the
> >> citizens, as it is intended.   Once this
> absurdity begins, the rest
> >> is just a cascade effect.  Every government has
> been subject to this
> >> absurdity; it isn't just about modern times.
> >>
> >> thanks,
> >> steve consilvio
> >> www,behappyandfree.com


       
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