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Social Credit Monetary Theory

Wednesday, November 30, 2016 4:49
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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.”

Read the entire article on the “Corporatocracy” archives

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