Hi all, I am still trying to clarify the idea of democratic banking. The current proposal/theory is very rudimentary. So I would like to hear your questions and criticisms. If you find the concept appealing, I am also looking for help to refine it. I think it is very different from L.E.T.S What I DO NOT mean by a democratic banking system ------------------------------------------------- *The existing banking system is not democratic. *The banking system before the creation of the federal reserve was not democratic either. *It does not mean "taking control" of the existing private banking = system. What I do mean by a democratic banking system --------------------------------------------- *It does mean devising a *parallel* banking system along liberal democratic principles and procedures for decision making. The central task of such a banking system is to CREATE and DISTRIBUTE "UNEARNED" MONEY based on a democratically concieved credit-debt systems, which would be very different from the system of credit-debt in the private banking community. *The credit-debt system could be adapted to suit the special physical = and cultural realities of individual communities. *It would not be like giving each person a "blank cheque". Budgets [107 lines left ... full text available at <url:http://www.reference.com/cgi-bin/pn/go?choice=message&table=05_1997&mid=666396&hilit=CHOMSKY> ] -------------------------------- Article-ID: 05_1997&639926 Score: 80 Subject: Re: Maternal care