Economic Woes? “Social Credit Monetary Theory” offers hope through a new solution
Social Credit Monetary Theory
Few people are familiar with the concept of Social Credit by Clifford Hugh Douglas. In his book, by the same name, his theory is presented.
“Douglas explains (particularly in Part 2, Chapter 2) that, if the money supply is not increased, dollars/pounds become more valuable, such that prices drop. But, if the money supply is increased just enough, the value of each dollar/pound – hence prices – can be left unchanged. Finding it desirable to keep prices unchanged in this way, Douglas then explains that, essentially, a decision has to be made about who gets the additional dollars/pounds. Under our current fractional reserve system, the banks do, by creating and lending out extra credit. Under a “social credit” system, the extra dollars would be divided up and given to all citizens in equal portions as a “dividend”. His rationale: that increases in productivity – resulting as they do from innovation and technological advancement over time – are a “cultural heritage” that belongs not to banks but to all members of society. His message is clear: the citizenry are prevented from benefitting from their own cultural heritage, and this leaves them increasingly indebted to banks, and unable to reduce, over time, the portion of their lives that they spend working and simply trying to survive. Under social credit, Douglas foresees a decrease in work and an increase in leisure or, at least, the opportunity to work less if one so chooses.”
With the approaching collapse of the global financial system, it takes courage to start a debate on alternatives to the Banksters debt-created monitory formula that bears the ultimate responsibility for the economic slavery that imprisons every non-elite who is not plugged into the money scam.
Anthony Migchels describes accordingly.
“Let the Government print debt-free money to be spent into circulation by the people. Everybody should get an equal amount of money, whatever their income or asset position. The amount of money to be printed should equal the lack of purchasing power in the economy. If this is done correctly, it could be done with stable prices: the inflation in terms of a growing money supply would serve to buy up production for which there are insufficient funds available and thus would not lead to price pressures.”