Friday 18 June 2010

The Editor

Nelson Mail

Dear Editor

To illustrate how the system I advocate would work, let’s look at two projects proposed in this region: the Lee Valley dam and the performing arts centre.

Irrespective of costs, the criteria for funding are: feasibility, in the public interest, people and materials available to build the project. The Lee Valley project would qualify on all criteria.

The performing arts centre would only qualify on two criteria. Therefore a binding citizens initiated referendum would be required. Assume it was successful. Both projects would then qualify for Reserve Bank Credit (your credit) at the contracted prices. On completion of the projects, they are then your (the public’s) assets, as everyone concerned has been paid.

Contrast that with the system of perpetual debt, which has operated for 316 years. The above projects would cost at least three times the contracted price in rates.

You should now be perfectly clear why your “money” continues to devalue and why the control a sham democracy.

One system creates assets, the other creates debt in perpetuity. Only social credit use can promise the asset creation and deliver on it.

DL Steele

Stoke