Time: Sun Apr 20 01:20:57 1997
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Date: Sun, 20 Apr 1997 01:17:59 -0700
To: (Recipient list suppressed)
From: Paul Andrew Mitchell [address in tool bar]
Subject: SLS: 52 economic truths (fwd)

>From: PawlRevere@aol.com
>Date: Sun, 20 Apr 1997 21:18:21 -0400 (EDT)
>To: PawlRevere@aol.com
>Subject: A challenge ...
>
>... in undersanding economic reality, these are 52 Economic Truths as
>recorded by Merrill Jenkins, Monetary Realist. 
>
>1. Retaining the God given right to distribute one's own wealth is the only
>guarantee of freedom from tyranny.
>2. Money accepted as a medium of exchange subjects people and their
>government to the influence of its creator.
>3. Money is -- credit - imaginary demand - inflation - seigniorage
>4. More cannot be returned to an only source, than is taken from it.
>5. A contract cannot protect anyone who lacks the wealth with which to force
>its fulfillment.
>6. Supply and demand are wealth and can not be imbalanced.
>7. During an inflationary effect "prices" and employment rise together.
>8. During a deflationary effect 'prices' and employment fall together.
>9. Whatever, during any exchange, is accepted as a medium of exchange, in
>lieu of wealth, is imaginary demand (money, credit, inflation).
>10. Wealth is material - money is psychological
>11. Money can be created or destroyed in the human mind.
>12. Inflation cannot be controlled.
>13. Money created in the human mind, has to be accepted by all others to
>function, once money is generally accepted all people will create it in
>volume to satisfy their desires, and control is impossible.
>14. Money accepted in exchange for wealth is subconscious fraud.
>15. Rent is material - interest is psychological
>16. Rent is a wealth charge for the use of borrowed wealth.
>17. Interest payment would require that more be returned to an only source
>than was obtained from it.
>18. Interest is money charge for the use of borrowed money.
>19. Wherever money is accepted as a medium of exchange wealth and freedom are
>forfeited.
>20. Money is accepted in exchange for wealth only until the psychological
>nature of money is exposed, or until wealth expropriation consumes most of
>production and the public begins to starve.
>21. Where freedom reigns, those who do not produce food directly, have to
>produce wealth or perform service to exchange for it.
>22. Wealth exchanges freely on historic worth, money exchanges due to legal
>tender laws and the public's ignorance of its true nature.
>23. Money is a force of evil.
>24. Attempts to control and circumvent free market natural laws, causes
>hidden free market transactions.
>25. Wealth is supply or demand by use or viewpoint.
>26. As the exchanges of money (imaginary demand) for wealth increase, the
>parity of money falls.
>27. Inflation is possible without the inflationary effect only at the expense
>of the standard of living, until wealth expropriation consumes most of
>production and the public begins to starve.
>28. Inflation held as savings does not cause the inflationary effect.
>29. Inflation feeds on itself and accumulated at an ever increasing rate.
>30. Money may exchange for wealth but it can never be wealth. 
>31. All money is imaginary and its volume can not be measured.
>32. Wealth only as a media makes inflation impossible.
>33. Inflation ends with deflation.
>34. Money is valueless unless accepted in exchange for something.
>35. Wealth has worth is use, consumption, or as media - money depends on
>imagination and is usable only as a medium of exchange.
>36. Deflation can be honorable only by redemption
>37. The deflationary effect is possible without a deflationary exchange of
>tokens.
>38. Money has to have parity to have exchange value.
>39. Wage and price controls obscure the inflationary effect but cannot
>control inflation.
>40. Parities are determined by exchanges developed by competitive bidding
>with respect to return on labor, variations in time, location and
>circumstance.
>41. Exchanges determine parities.
>42. Wealth supports independence - money enslaves.
>43. Government regulations of the use of capital inhibit free enterprise and
>cause economic decline.
>44. Conspiracy to expropriate wealth with money assures the eventual
>destruction of the conspiracy.
>45. The main economic function of money is the expropriation of wealth.
>46. Unless wealth exchanges for wealth directly credit extension or wealth
>expropriation is the result.
>47. Take away all that a man produces and he stops working.
>48. Supply can never exceed demand because a quantity cannot exceed itself.
>49. A fractional reserve monetary system embezzles production within its
>sphere of influence.
>50. Controlled prices oppose competitive parities.
>51. No one can discover and disclose a truth based on a false premise.
>52. Money expropriates wealth.
>
>
>
>
>

========================================================================
Paul Andrew, Mitchell, B.A., M.S.    : Counselor at Law, federal witness
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