BrooksUncensoredJohnFDueCreditCreation

John F. Due has included a rare revelation in his Government Finance: An
Economic Analysis published in 1963 that contemplates the "credit creation"
[money} power of Government which is rarely understood by university trained
economists and most politicians.

John Due plainly concedes that money creation power of Government but argues for "an intermediate
technique, which has the form of borrowing but actually involves money creation, that is, borrowing
from the central banking system". He justifies this preference arguing "On the other hand, the
psychological reactions are likely to be less serious because most people do not understand the
difference between this borrowing and other forms".

What interesting conclusions John Due arrived at concluding that "psychological factors" dictate
that "central bank borrowing form of credit creation is preferable" to "printing of additional
paper money". John Due distorts the money creation facts by suggesting the government credit
creation is "printing" {suggests irresponsible economic behaviour] when the money supply expansion
technique is fundamentally identical whom ever creates the new debt. All money is created. "Printed"
currency is to money supply, as is, a tape measure to the complete detailed plan of a physical project.
This tricky distraction deflects attention from the critical issue of why any Government would borrow at
interest from private banks in the form of bond issues and treasury notes that which it can create at
virtually no cost. This practise is the key to driving the cost price sqeeze in our economy which in
turn forces concentration and monopoly across all human economic activity despite the contradiction
of expanding real wealth potential clearly evident in every production process and service sector.

Money is a subject that is common to everyone but understood correctly by very few. As I build a
data base of documents on the subject I will also evidence the incredible ignorance of the facts of
credit creation and its critical position in the strategy towards hi-tech feudalism.
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