Global Creditist Economy (Page 7) Who is San Diego Mayoral Candidate Gregory T. Morales? 619-300-6570
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the risks associated with transporting a few hundred pounds of gold and silver, paying for guards, and perhaps risking a total loss at sea. The shift important in the case of the credit economy in the United States of America is the formations of the National Banking System. The National Bank Act (ch. 58, 12 Stat. 665, February 25, 1863) was the beginning of the National Banking System in the United States of America, and after that time, paper money of a static value was available to the public. Eventually the banking system would be come what we see today, a source of productivity expansion based upon interest rates, debt, and the likelihood of debtors’ paying off the loan and not defaulting.10 The most noteworthy change in the way our national economy is valued and gauged in the last thirty years was the shift which took place in the early 1990s. As noted in Dr. Keppler’s The Fictitious Economy, the formula gauging productivity and economic growth in the United States changed in such as way as to include debts, interest on debts, and profits made from trading and exchanging debt indicators (called “Credit Vehicles” later in this paper.) Before the shift from a formula producing a number representing Gross National Product (GNP) to a formula producing a number representing Gross Domestic Product, slowing rates of consumption increased, and the oppressive reaction to governmental revenue streams derived from taxation on earned wage incomes threatened to pull the country from a condition of “stagflation” into “depression.” I will include the data supporting this point,11 but the gist of it is that the formula used to measure economic 10 Outlined in Vilar. 11 http://www.socialstudieshelp.com/Eco_indicators.htm provides an explanation of this point. The terms and identity of capital are re-presented in shift from Gross National Product (GNP) to Gross Domestic Product (GDP).The difference between C + G + I + X = GNP and C + G + I +F = GDP is not only that in GDP, the formula includes function “F” in place of function “X” but also what it includes as part of “F” which was not a necessary part of “X.” At about the same time, functions of the consumer price index (CPI) served as nearly a fully compensatory part of GNP when GNP was the norm of measuring economic expansion or contraction inside the mainstream economic system of the United States of America. In the case of my application of these two formulæ, it is noted that “X” is physical economic expansion as seen in modern capitalism and “F” is the associative economic expansion as realized by extension of credit, use of credit and any and all gains, interest, and penitential associated with the past, present, or future use of said credit. In the later case “F,” the CPI is factored in so that the inflationary tendencies of credit issuance and use are removed (the economically negative aspects of credit use) so that only the positive contributions of credit market expansion can be realized in the formula for GDP. As CPI is factored from the use and inclusion of credit vehicles and all associated gains realized from the use of credit (gains, interest and penitential associated with the past, present, or future use of said credit or “CC” – Credit Contributors), these second producers of profit (CC) appear as and solely positive additions of the economy in which these false credit Conditions appear. (See Keppler).
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