I am betting that
by Labor Day of the New Millennium, the world's
hundreds of thousands of computerized LETS, computerized commercial
barter systems, computerized casino systems, and computerized credit
systems will have merged into one big fair barter system based on
I am betting that LETS will be globally installed peacefully. A
theme for the year of Jubilee should not be revenge for what this
torturer or that banker or fraud-artist did, it should be:
"LETS get to work."
"LETS get rich."
I bet that by Labor Day of the New Millennium, the jails to be
emptied around the world and everyone will be getting on with winning
a comfortable living on a huge interest-free credit line.
If people could even fathom the amount of money diverted from
their pockets to a few banking institutions for the benefit of a small
percentage of rich families, they would be shocked senseless. Here are
some guesstimates and I use 10% average interest with a minimum wage
around $7 for a 2,000 hour year. $14,000. They start paying taxes at
The Fraser Institute estimated total government indebtedness for
which we pay 10% in taxes is $1.8 trillion. And personal, corporate
debt adds another $1.4 trillion for total indebtedness of $3.2
trillion. 10% or $320 billion in interest is taken by governments and
banks from 30 million people. $10,000 per capita, 1,400 minimum wage
But that's per capita. If you consider children, the elderly, the
10% able-bodied denied rightful employment opportunity who cannot
contribute, that means the half of the population who are working pay
$20,000 each per year in debt service. No wonder those who work can
feel they're being cheated even though their unions steer them into
demanding more money for their food instead of more food for their
Still, per capita, that means that a family of four which now
survives on $20,000 per year would be getting $60,000 per year if
diverting the debt service away from banks to the nation's pockets is
accomplished. Imagine the rich stealing 2/3 of a poor family's
rightful share of production so their piles grow so high, they can
never spend it. And as it keeps growing, the learn a new game of who
can keep the biggest pile out of the hands of the poor.
I rarely mention the yearly output because the Canadians have
been so trained to vote for the odd drop, they can't believe a river
is being diverted behind their banks.
$320 billion a year is 90% to reaching 1 billion a day.
When you consider government promises of 500 million here, 100
million there, 6 billion on important improvements, I convert to day's
interest to keep my perspective.
By diverting the interest away from banking accounts to our own,
I could save Canada that 500 million in 12 hours of diversion. The 100
million could be saved in a couple and the 6 billion in under a week.
Canadians cannot fathom just how rich we will all suddenly become
when we get the loansharks and their enforcer governments out of our
pockets. Much of the advanced world will pop into prosperity and
production as if a miracle. And the media did tag the "LETS equation"
the "Miracle Equation" because it performed financial miracles
orthodox banking software can not.
It's the simple difference between the software having the stamp
of approval of a Banking Systems Engineer and that of some gold-
smith's whose bones have rotted to Hell 5,000 years ago. No, the
rotten Bullion Boys have scammed the planet for too many millennia,
they know the LETS equation is loose on the the Internet and is
blowing away their Monopoly of Credit (C.H.Douglas). Their only choice
is to finance the completion of a police state for no good reason when
robots can provide plenty to go around for all, so it seems a question
of a deal where no one gets punished if they let the debt noose slip.
And of course, no confiscation. If they don't want to sell their mine
to the LETS credit-pool of the Local Miner's Union, they can keep
their hole in the ground. The miners will find their own mine to mine
with their own equipment bought with their own credit based on their
The industrial world will really change when every producer has
his own credit line. 500,000 GM workers buying out shareholders and
then doing their best to be profitable with a share in the stake.
Again, Paul Hellyer's Canada Action Party idea of lending every
Canadian $50,000 interest-free to buy shares in their companies works
the very same way. I just didn't pick a number. Doctors and dentists
will need million dollar credit lines to set up their practices,
farmers will need multi-million dollar credit lines, and engineers
will need multi-billion dollar credit lines to turn planet Eden back
to health and best cope with her more violent natural calamities.
And of course, accountants, clerks, management consultants, even
economists who will finally get things right when money is stabilized
on Hours will be needed in planning and development.
Finally, with everyone having so much Time to spend, personal
service will command the highest prices. You'll pay 5 Greenminutes for
a vegetable platter at the food Automat while a very similar vegetable
platter might cost you 3 Hours of a restauranteur and staff's time.
Serving each other, with an accurate score card, beats it all being
gifts like the true Communists have dreamed of but which LETS
delivers. But LETS delivers abundance with accurate free-market
competition. I drive a Cadillac, the other guy drives a Mini-Morris
unless there are plenty of Cadillacs and he gets to drive one too even
if I'm largely in the positive and he's largely in the negative. I
don't mind my weaker cousin sharing of any abundance. How could
anyone? That's what's evil about interest. It makes many resent weaker
citizens also enjoying life to the fullest.
But living life
to the fullest is what the new interest-free
millennium is about. I'm inviting all those who pursue political
avenues with me over the next 3 years to mark May 1 2000 as special
date in their calendars to join me for a LETS Jubilee party to
celebrate the deliverance from exponential debts in the new
With the Canadian general election going on, I'll be posting a
lot more information and discussion than usual. For anyone interested
in participating in these kinds of discussions, I invite you to use
the Usenet newsgroups where you'll find everything I post from any
newsgroup cross-posted to:
You know my policy is to urge all political parties endorse our
petition for National and Global LETS. Pauline already got a Liberal
candidate to sign. First Liberal with a brain I've ever met.
That means I'm going to be reporting on meetings, developments,
and I'm going to challenge every other party on the Internet at every
opportunity on why they're not for national installation of LETS
overnight. I'll post all of Pauline's future reports on the LETS
petition and I'd ask Sabine to also publish her activities reports to
those newsgroups too.
I'm going to publish what I find off all the recent web.sites
with good and bad information about the 1/s LETS equation and its
engineering. And if I have time, I will post an index of topic streams
Earlier this evening, I posted articles on:
TURMEL: LETS Critique Eric Reade in UK Town & Country Magazine
TURMEL: Monetary Reform Quarter Newsmagazine Issue #3
TURMEL: Duncan MacGregor and untrustworthy LETS code?
TURMEL: LETS by email soon; more LETS politicians elected
TURMEL: Hollingsworth's Exclusion of LETS supporters
I think John Hollingsworth finally gets both feet in his mouth.
Expect 3, 4, 10
times as much as I would send to econ-lets. The
movement is growing in unexpected spurts. After all, since Australia's
Parliament has already passed LETS legislation, and with Labour as the
Government in the UK, with several MPs in New Zealand, is it so far-
fetched that one of them will be first to institute its national LETS
before the others?
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