cooperative individualism - lesson 17- protecting our purchasing power

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Lesson 17, the final lesson on the course, examines the issues associated with existing monetary systems and the potential to adopt reforms based on a system of deposit banks and public banks.

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Cooperative Individualism: The Third Way to the Just Society LESSON 17 Protecting Our Purchasing Power

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FROM PRODUCERS TO RENT-SEEKERS IS

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“The Congress shall have the power to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures; No state shall make any thing but gold and silver coin a tender in payment of debts.”

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“Let me issue and control a nation’s money, and I care not who writes the laws.”

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Ellen Brown

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“Small and medium-sized businesses are responsible for creating most of the jobs in the economy, and they are struggling today to get the credit they need to operate. That is one of many reasons that banking needs to be a public utility. ...”

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“Publicly-owned banks can direct credit where it is needed in the local economy … and can augment public coffers with banking revenues, allowing local governments to cut taxes, add services, and salvage public assets from fire-sale privatization. ....”

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“Publicly-owned banks have a long and successful history, and recent studies have found them to be the safest in the world.”

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Alan Cole

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“[T]he policy on short-term capital gains deserves some examination. Clearly, the system is designed to discourage individual investors from realizing capital gains on investments held less than one year. But does this accomplish a useful objective? The policy almost certainly has no effect on the market prices of stocks. Stock prices are not set by individual investors buying or selling handfuls of shares. Prices are set by big moves by large investors, like pension funds or investment banks. Individual investors are just along for the ride.”

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“Our motto is not ‘each for all and all for each’ but ‘every one for himself -- under the law of equal freedom’. Not ‘from each according to his ability and to each according to his needs’, but ‘equal opportunities to all and to the laborer the full product of his labor’."

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END of Lesson Seventeen

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