THE PROMISSORY NOTE (SCOTLAND)
I have to admit, it sometimes is very tiring constantly trying to dredge up more and more proof and evidence of things I wrote about on here. It’s like hardly anyone listens and, even if they do, so what? Nothing is ever done!
It’s like people just want to remain in a state of abject fear and ignorance and never wish to use the evidence toward any direct action.
I know I speak to an “audience” but does that audience ever use the information in any way whatsoever? Or just acknowledge the info as “interesting”?
Anyhow, enough of the rant. Forgive me, I just feel sometimes I’m knocking my head against a brick wall.
THE PROMISSORY NOTE IN SCOTLAND (for that is all you have AND all you need).
For all you out there who do not understand the MPE/Promissory note issue and think it is some form of “mad theorem” I ask you to think again. Scotland already works on the very basis of Promissory notes. Every single person in Scotland does not buy and sell with legal currency but with Promissory notes. NOW do you want to learn?
Mr. Jenkin: This group of amendments falls into exactly the same category as the previous one, in that if there was one matter over which the Scottish Parliament would be expected to take control, it would be an issue of such symbolic importance as the Scottish bank note.
I understand that the hon. Member for Edinburgh, West (Mr. Gorrie) is not correct about the issue of the euro, as Scottish bank notes are not themselves legal tender; they are merely promissory notes issued under the Bank Notes (Scotland) Act 1845 and the Currency and Bank Notes Act 1928. They are backed by reserves in the banks concerned, but they are not themselves legal tender. For that reason, they could remain in circulation as promissory notes if they were reissued as euro notes in the event that we joined the single currency. Of course, the European central bank and the other member states would not recognise them as legal tender, but, as they do not have such recognition in England or, indeed, in Scotland, that would not be a problem. However, it would be interesting to hear on the record whether that is also the Government’s view.
The issue has symbolic importance. As the United Kingdom Parliament allowed Scottish notes to continue in issue long after the currency union between England and Scotland, it is extraordinary that they should not become the responsibility of the Scottish Parliament.
Of course, the Government must reserve legal tender as United Kingdom issue over anything to do directly with currency, but, as Scottish bank notes are technically not currency, I fail to understand, and ask the Minister to explain, why promissory notes could not become a matter for the Scottish Parliament, rather than the United Kingdom Government, to supervise.
So Scotland already is ACKNOWLEDGED as working on the basis of PROMISSORY NOTES. Do you see ANY difference between YOUR lives north of the border in terms of how you use “money” to that south of the border or anywhere else?
No, you don’t! And there’s a reason for that. The reason being is that just as you accept and consider these acknowledged promissory notes (obligations) as your currency, the rest of the world does precisely the same because, as explained in my blog “The new economics will be mathematics”, ALL currency throughout the world are simply no more and no less than PROMISSORY NOTES which represent each and every one of our promissory obligations to one another.
THE ONLY PROBLEM WITH USING THE BANKS’ RE-PRESENTATIONS OF OUR OWN PROMISSORY OBLIGATIONS IS THAT WE NEED TO PAY INTEREST TO THESE BANKS FOR THE SIMPLE USE OF THEIR REPRESENTATION (i.e. BANK NOTES) OF OUR OWN MONEY! THAT IS ALL WE PAY INTEREST FOR YET, IF WE SIMPLY RECORDED EACH AND EVERY PROMISSORY TRANSACTION ON THE MPE (Mathematically Perfected Economy) Common Monetary Infrastructure (CMI) then we pay no interest for goods and assets we buy and, therefore, there is NO ever spiralling upward NATIONAL DEBT because the REAL economy would be perfectly reflected by the amount of promissory obligations in circulation.
THE BANKS STEAL OUR OWN PROMISSORY NOTES AND REPRESENT THEM AS THEIRS. DOING SO, THEY THEN CHARGE INTEREST AND THAT INTEREST DOES NOT EXIST IN THE REAL ECONOMY THEREFORE IT CAN NEVER EVER BE PAID OFF!
Because interest can never be re-paid, the economy must borrow MORE money from the banks to service the debt. The more that is borrowed the more interest owed which can NEVER be paid off. It is a TERMINAL system and it will eat up every living being like a form of monetary black hole. We are approaching the event horizon of this black hole and it is NOT going to be pretty and GOLD does not stop it!