NOVANEWS
(left: Clifford Hugh Douglas, 1879-1952, the brilliant economist who invented Social Credit)
Think of the world as a giant interest-producing debt plantation.
Current events increase both public debt (wars, bank bailouts, social spending) and private debt (cars, houses, credit cards.)
News and “culture” disguise this reality.
Illuminati banking families milk the herd with the help of their Freemasons, dupes and traitors, i.e. our corporate and political leaders.
Is Social Credit an alternative to this deplorable situation?
by Anthony Migchels
Social Credit is one of the main achievements of the 20th century.
It solves poverty and depression and provides a basic income to all. It reclaims the currency monopoly from the banking cartel, without centralizing power in State hands.
Social Credit was developed by Major Clifford Hugh Douglas, who penned a book by the same name in 1924.
He was the first to see that wages paid by firms were always lower than the value of their production: hence there is an eternal lack of purchasing power and thus depression in the economy. This problem is known as the ‘gap’.”
Douglas foresaw a time when many people were no longer necessary in the production process. These people are called the useless eaters by our masters, but Douglas understood that production serves consumption and that the economy exists to feed the people, not the other way around.
To solve the problems, he came up with an eminently practical and simple solution: 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.
In this way Social Credit is associated with a Basic Income or National Dividend, both of which, incidentally and surprisingly, were supported by Mont Pelerin Alumni von Hayek and Milton Friedman.
Social Credit gained a lot of attention in the 1930′s, throughout the dominions of the British Empire (the white colonies) and the Axis powers.
Ezra Pound favored it, wrote about it (in ‘What is Money For‘, an excellent primer for the un-initiated) and discussed it with Il Duce at some point.
In Japan it was highly regarded and gained a lot of traction. Also the Catholic Church, for instance the Michael Journal, promoted Social Credit as a solution to Usurious Usurpation. However the banker-owned mass media and politicians always ensured that it would never be put into practice.
Social Credit compared to the Greenback
With the Greenback I mean a debt free paper currency spent into circulation by the Government.
Social Credit is vastly superior to the Greenback as a way for Government to provide currency.
The fact that the cash is handed out to the populace to be spent into circulation not only ends poverty and solves the problem of the Gap, it also prevents the massive power centralization with the State that is associated with the Greenback.
When Government can print and spend its own cash, not much good can be expected from it. True, it’s much better than letting a private cartel do it, but most people suggesting the State should print its own money equate that with the notion that the people would be printing their own money. This, to my mind, requires an extraordinary leap of the imagination.
Government is not the People. If kept small and in its cage it can be of use. But it is a threat always. It’s hard to think of a Government in human history that was not owned lock stock and barrel by the Plutocracy behind the scenes.
The simple fact is that Social Credit is probably the closest we will ever get to the notion of ‘the People printing their own money’, as they can spend it themselves. It truly is THEIR money.
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Anthony Migchels is an Interest-Free Currency activist and founder of the Gelre, the first Regional Currency in the Netherlands. You can read all of his articles on his blog Real Currencies The complete article can be found here.
Related:
Interest-Free Economics
Mutual Credit, the Astonishingly Simple Truth about Money Creation
Reassessing the Greenback and other Alternative Monetary Systems
On Interest
Usury: why we don’t build Cathedrals these days….
