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Message Subject Get rid of the money system, then get rid of goverrments
Poster Handle Anonymous Coward
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Previously I have brought up Mondragon and binary economics and pointed out that Mondragon cooperative was the very best example in the whole world of binary economic principles.

However, author Robert Ashford never mentioned the Mondragon cooperative in his book. The guy credited as "co-author" Rodney Shakespeare of England (I believe he functioned more as a proof reader of the manuscript) has corresponded with me on the matter of the cooperative. Rodney Shakespeare subsequently wrote another book - SEVEN STEPS TO SOCIAL JUSTICE that also discusses the monetary system.

Jeff Gates also wrote a similar book THE OWNERSHIP SOCIETY and there was an online discussion about the principles of binary economics. In a similar vein the Mondragon cooperative seemed taboo on the discussion forum.

Here is the point; what we are using for money is already a system of mutual credit - but the bookkeeping is incorrect. Essentially, it is a question of seigniorage. When the money was presumed to be a gold or silver coin about 75% of the seigniorage was vested in the coin. Paper printing was somewhat constrained because of the belief in redemption in coin.

Silver was lawfully replaced as the "backing" in what was characterized as "the crime of 73" (1873) and that was the story associated with the presidential contest with William Jennings Bryan who opposed gold backing and supported a return to silver backing for the dollar. Then, in 1933 under Roosevelt, the gold backing was removed for united states citizens although redemption was available to foreign entities and persons. That was stopped by Nixon (197x).

The defacto default backing for the federal reserve note became the credit of the people.

Essentially, the fifth plank of the communist manifesto was implemented through this series of changes. The fifth plank says that the credit of the people is the property of the government. The government in turn assigned the people's credit to the banks via license. We have given uncle Sam a credit card, and now uncle Sam is complaining because we are failing to keep up the payments. Who knew that Uncle Sam was a profligate gambler who liked to start fights, and that his word was no good?

Anyway, the point I tried to make to the speaker [deleted for privacy] was that the only way a system of mutual credit was if we the people owned the banking system and after cost profits were returned to the people in annual or semi-annual rebate checks - or possibly a retirement fund could be created and managed for the people's future. Much like the Mondragon system is administrated.

It is essential that everyone acquire and read Griffin's MANDRAKE MECHANISM which is easily found many places on the net; that chapter out of his book explains the process of hypothcation of the promissory note and the creation of money.

I wasted a lot of time pondering the 11th marble phenomena (also called the 11th hour and the parable of the cards) without recognizing the seigniorage problem.

The 11th marble problem involves the loan of 10 marbles and asking the return of 11 marbles - it is the usury problem - serious enough itself, but the larger problem which I characterized as the tyrannosaurus rex in the room - "eating everyone alive" involves the bookkeeping problem.

The bank loans credit - BUT IT IS NOT THEIR PROPERTY IN THE FIRST PLACE!
 
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