On Fri, 9 May 1997, Carl Macki wrote:

> I am not entirely clear on your concept. Don't individuals already function
> as mini-banks already, in that they loan money (through individual accounts
> and other instruments) to banks and finance companies in return for
> 'interest, etc.?'

Yes, but ONLY as consumers of *money*, not, for example, as consumers
of *food*, or of *clothing*, or of *furniture*.

Only a minority of people have a fetish for "making" money through such
mechanisms as interest, speculation etc. I have nothing against such
desires, but many if not most people have no real desire to devote their
time and energy to such pursuits. Most people who turn to such schemes
are doing to it not because they find inherently rewarding, (Like
billionaire George Soros), but because they are trying to find some
MATERIAL and SOCIAL security, in an otherwise "financially insecure world"
(as the TV commercial says). Because many people who are successful money
"makers", also have the power to infleunce the media, WHETHER THEY WANT TO
ADMIT IT OR NOT, they have intentionally or unintentionally manufactured a
global media environment which makes all other consumer preferences
subservient to their own.

I believe, that the consumer can and in many instances should be
regarded as a "mini-bank" in relation to ALL items or services that are
being offered by ALL businesses, not just in relation to standard
banks or finance companies. However, when an individual uses their
mini-bank standing to issue loans (money) to, say, a clothing business in
return for clothing, the same loans would obviously have to be rejected
by a standard bank or finance company because the money would not meet
the criteria of having been previously "earned" in *some* way by the
individual (eg. through business or on the stockexchange)

I must reiterate that the situation between a finance company which borrows
money from an individual who is looking to "make" more money, is NOT
analogous to the situation between the business which borrows money from an
individual who is looking to acquire "stuff" or "labour".

Harry Veeder