Fwd: A DSC Soliloquy

[Frank de Jong]

This is from an amazing Geoist in NZ. His writing is very dense but clear and to the point. Frank

---------- Forwarded message ----------
From: Resource Rentals <resourc...@xtra.co.nz>
Date: Mon, Jun 22, 2015 at 11:02 PM
Subject: A DSC Soliloquy
To: Resource Rentals <resourc...@xtra.co.nz>

 

Henry George predicted a Social Dividend or UBI, as in Alaska from oil royalties and likewise lower taxes in Norway.

This motivates the Douglas Social Crediters to monetise economic rent without first socialising it, or collecting it.

The Banks monetise it, but privatise it. The seller gets the cash. The buyer gets a mortgage. We can’t have it both ways. Q.E. is another form of the malady so cannot be the remedy.

 

The methodology issue is resolved with the TWG Report. Collect or socialise the land values and relieve wages from being depressed with taxes.

Intergenerational infrastructure investment must come from labour’s savings, from wages and/or the UBI. Injecting free money destroys the value of labour’s savings.

 

R.D.

 

[Jassal Devpreet]

Dear All

"Intergenerational infrastructure investment must come from labour’s savings, from wages and/or the UBI. Injecting free money destroys the value of labour’s savings."

Please elaborate on this. 

Regards,

Devpreet Jassal

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[Frank de Jong]

"Intergenerational infrastructure investment must come from labour’s savings, from wages and/or the UBI. Injecting free money destroys the value of labour’s savings."

Please elaborate on this.  Devpreet Jassal

Dave, 

"Labour" means earned income by people of all economic levels -- rich and poor. Some rich people actually earn their money by brawn and brain and some poor people live off the labour of others by appropriating some of other peoples' economic rent.

The quote means that public infrastructure (sewers, transit, parks, roads, (health care and education in Canada), should be financed by money put in banks by working people (rich and poor), money that they earned or received as their share of the collective economic rent through a universal basic income, but not by money created out of thin air by the fractional reserve banking system or by QE government borrowing against future earnings. Gov borrowing from central banks that create it out of thin air in inflationary, and inflation devalues savings.

F

[Jassal Devpreet]

Frank,

What you are saying is possible in a true market economy.  This is a long discussion. Hope to see you during election.

Devpreet Jassal

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