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http://www.lewrockwell.com/north/north641.html
This makes it very difficult for defenders of the free market to get the message to the vast majority of voters. The argument in favor of the market is sophisticated. It involves long chains of reasoning. Only a handful of economists ever come up with a truly brilliant image that is understood by the public, remembered by the public, and advances the public's understanding of the benefits of the free market social order. The greatest master of these images was a French economist and politician named Frédéric Bastiat. He died in 1850. No one has come close since then.
Gary North has an interest in positive interest where someone manages to extract power from someone at a rate determined by "market forces" and the flow of power goes from the borrower to the person who loans the power.
The borrower pays.
The loaner profits.
That is Gary Northism.
Gary North can't see past Gary Northism.
Here are a few examples of free market interest that does not go as Gary North dictates interest flow.
http://www.the-portal.org/mutual_banking.htm
That is an expose on 'interest' where an interesting thing occurs when interest flows from those who loan purchasing power to those who produce purchasing power and the flow of power goes from those who produce to those who loan. The interesting phenomenon is called a Parasite City.
Next is a link that documents how interest can flow in the opposite direction as “negative interest”, and this type of power flow goes from the loaner to the borrower.
http://www.globalideasbank.org/site/bank/idea.php?ideaId=904
The loaning agent freely exchanged with the borrowing agents until the Gary Northism type banks (positive interest) took over. You may have to read the words in the link to see how that worked out in history.
Here are two links that describe a thing called equity, which is a non-interest transfer phenomenon where borrowers and loaners keep the power they earn and neither borrower or loaner are encouraged to pass on costs to the other.
http://tmh.floonet.net/pdf/jwarren.pdf
That one is called Equitable Commerce. The writer actually tested his invention and it worked. The writer also invented his own printing press and employed that invention in the production of News Media to compete with the news media monopolies of his day.
http://www.anarchism.net/scienceofsociety.htm
That one is called The Science of Society and it describes equitable commerce in a more detailed expansive manner than the original, sort of like an Equitable Commerce for Dummies.
http://www.perfecteconomy.com/pg-parable-of-perfect-economy.html
That source is a modern source that bridges the gap in history from the start of the American experiment with its colonial script to the modern application of that interesting monetary employment.
Whenever someone claims to have the exclusive ability to communicate monetary wisdom, check your wallet.