A PHILOSOPHICAL FOUNDATION IS ESSENTIAL Further correspondence within the discussion group. Wallace Klinck observed:

“... Moreover, their [economists'] position is both philosophically and technically unsound because they almost universally assume that the primary function of an economy is to ensure that all able-bodied individuals are working. This assumption inevitably encourages inefficiency and recognizes humans essentially as mere economic functionaries - and debases the nature and purpose of human life.

To which J.H. responded:
But even in regard to this (false) assumption, they fail on their own terms. I am thinking of the neoclassical doctrine of "natural rate of unemployment" which asserts that unemployment (in SC terms, translate as unempayment) should be kept at 5% or higher in order to keep the workforce disciplined, to prevent wages from rising too rapidly, and to keep price inflation within acceptable bounds.”

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The ad hoc nature of the economists' approach betrays their lack of any consistent and coherent philosophy from which to derive policy.  They have no locus standi. They are approaching the situation in media res (into the middle of things) as being merely a matter of technical manouevering because they do not recognize the Cultural Heritage and the nature of inheritance as being innately due to all citizens by right of birth and existence.  Nor do the economists in general seem to recognize the role of orthodox industrial cost-accountancy in the situation.  Historically they have ignored or denied its relevance. 

*locus standi: a right to appear in a court or before any body on a given question: a right to be heard

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THE REALISTIC POSITION OF THE CHURCH Taken from C.H. Douglas’ “The Realistic Position of the Church of England” (1947) “Quod Ecclesia Anglicam libera sit, et habeat sua jura integra”

“Before the Church of England can become what it should be, an integral, primary, and effective part of the Constitution, so that the phrase "Christianity is part of the Law of England" may have real meaning, it is faced with the problem of restoring its locus standi*.
It must be insisted that Christianity is either something inherent in the very warp and woof of the Universe, or it is just a set of interesting opinions, largely discredited, and thus doubtfully on a par with many other sets of opinions, and having neither more nor less claim to consideration.
The Roman Catholic Church has always recognised this, and has never wavered in its claims. It may be (and here I write with diffidence and proper humility) that the most direct path to an effective Church, is at least, close rapprochement, and at the most re-union of all the Churches making claims to Catholicity.
But on the matter of the appointment of its high officials, Archbishops, Bishops, and Deans, I do not feel so diffident, because that is a principle of organisation, in respect of general experience in which I have at least average experience. Whether disestablishment is consequential or not, it appears to be beyond question that Church officers should be free from outside patronage,….”
* locus standi:  a right to appear in a court or before any body on a given question :  a right to be heard
-- http://alor.org/Library/Douglas%20CH%20-%20Realistic%20Position%20of%20the%20Church%20of%20England.htm


I posted the following text to reddit more than a week ago, where it has not gotten any significant attention since then. I thought that the readers of this list could also find it interesting, and perhaps start a discussion about the topic.
In the last months I've been watching lectures and reading some of the work by Steve Keen, one of the few economists that managed to predict the financial crisis a few years ago and the author of the book Debunking Economics. Keen belongs to a number of non-mainstream economists that have been challenging the economic establishment for being unscientific and unwilling to admit the problems with their models. An introduction to Keen's work and the problems with mainstream macroeconomy can be found in this lecture.

Keen affirms, against orthodox economists like Krugman, that money is endogenous. Banks do not act as mere intermediaries between savers and borrowers. Almost all money in circulation is, in fact, bank credit, created by the private banks.

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The correspondence among the Social Credit discussion group is flowing ‘thick and fast’ at this point in time.  It is important that some of the discussion is reported to our readers. The latest message was: 
Apparently, the HSBC bank is now predicting that we are on the cusp of a severe stock market crash:
Source:  https://www.rt.com/business/362618-stock-market-severe-fall/

While in the short-term people may be able to secure their own positions the long-term answers require us all to wrestle with what is fundamentally wrong with the system and ask ourselves:  do we really want solutions to the problems?

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Well, even Obama is now talking about some of the key Social Credit issues, albeit within the context of a (probably conventional) 'universal basic income'. He anticipates that the UBI debate will take 10-20 years ... The re-inventing of the SC wheel, bit by bit, continues slowly but surely.

Chris Weller, in Business Insider Australia Oct 13, 2016, has reported:
President Obama: We'll be debating unconditional free money 'over the next 10 or 20 years' - Speaking with Wired Editor in Chief Scott Dadich and MIT Media Lab Director Joi Ito in a recent interview, President Barack Obama reaffirmed his belief that universal basic income will get harder to ignore in the coming decades.
UBI is a system of wealth distribution in which the government provides everyone with a standard salary, regardless of income.  The money comes with no strings attached. People can use it however they choose, whether it’s to repair a leaky roof or go on vacation. Advocates claim the system is a smart and straightforward way to lift people out of poverty.
A growing body of evidence suggests such a system may be necessary if artificial intelligence wipes out a huge chunk of the jobs currently performed by humans. That is the future President Obama wants to avoid, and also the one that he says merits a debate on basic income.
“What is indisputable … is that as AI gets further incorporated, and the society potentially gets wealthier, the link between production and distribution, how much you work and how much you make, gets further and further attenuated,” Obama told Dadich and Ito…”
Read further: http://www.businessinsider.com/president-obama-basic-income-debate-2016-10


The following report came from Jo Nova’s website:
Ontario’s electricity, “carnage”, “a train wreck”, electricity costs double to reduce carbon at $250/ton
Source: http://joannenova.com.au/2016/10/ontarios-electricity-carnage-a-train-wreck-electricity-costs-double-to-reduce-carbon-at-250ton/

Boondoggle: How Ontario’s pursuit of renewables broke their electricity system
Ontario’s electricity, “carnage”, “a train wreck”, electricity costs double to reduce carbon at $250/ton
Source: http://business.financialpost.com/fp-comment/boondoggle-how-ontarios-pursuit-of-renewable-energy-broke-the-provinces-electricity-system?__lsa=441c-114c

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Why the New Silk Roads terrify Washington by Pepe Escobar

Ref: https://www.rt.com/op-edge/361898-new-silk-roads-terrify/
Almost six years ago, President Putin proposed to Germany 'the creation of a harmonious economic community stretching from Lisbon to Vladivostok.'
This idea represented an immense trade emporium uniting Russia and the EU, or, in Putin’s words, “a unified continental market with a capacity worth trillions of dollars.”  In a nutshell: Eurasia integration.
Washington panicked. The record shows how Putin’s vision – although extremely seductive to German industrialists - was eventually derailed by Washington’s controlled demolition of Ukraine.

Three years ago, in Kazakhstan and then Indonesia, President Xi Jinping expanded on Putin’s vision, proposing One Belt, One Road (OBOR), a.k.a. the New Silk Roads, enhancing the geoeconomic integration of Asia-Pacific via a vast network of highways, high-speed rail, pipelines, ports and fiber-optic cables.
In a nutshell: an even more ambitious version of Eurasia integration, benefiting two-thirds of the world population, economy and trade. The difference is that it now comes with immense financial muscle backing it up, via a Silk Road Fund, the Asian Infrastructure Investment Bank (AIIB), the BRICS’s New Development Bank (NDB), and an all-out commercial offensive all across Eurasia, and the official entry of the yuan in the IMF’s Special Drawing Rights; that is, the christening of the yuan as a key currency worth holding by every single emerging market central bank.

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Faith is Fragile by Senator Cori Bernardi

ED - Senator Bernardi may not know that Eric D. Butler predicted many years ago that if the main political parties did not change their financial policies then this nation would end up in chaos and disorder - and so it has. 
Possible, just possibly, the Liberals will have a look and return once more back to their founding principles.  They were genuine conservative values as expressed at the time.

South Australian Senator Cori Bernardi wrote:
Faith is fragile. Once it is lost, it is very hard to see it restored.
"To many, the sentence above will be seen through the lens of religious faith alone, but the fragility of faith extends far beyond that realm.
Our society depends on faith; faith in our institutions and in others is the single most important ingredient that unites our society. If we believe that our highly evolved system of interaction, discipline and ethics is working for our betterment then we are more likely to respect it. In short, we have faith in it.
But when we lose confidence in the system, the system itself starts to break down. For many, that seems to be happening now.

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Social Credit and Mass Migration by M. Oliver Heydorn

We live now in an age of mass migrations and of rumours of mass migrations. With the term ‘mass migration’ we are referring, of course, to the movement, not merely of large numbers of people, but of whole groups of people, who constitute various racial-cultural gestalts, en masse from one nation or region to another. When it comes to explaining why this mass migration has been occurring, why it is, on the whole, a negative phenomenon, and what can be done to reduce migratory flows to saner proportions and saner forms, Social Credit theory has much to contribute to the public discourse.

The Economic Cause Behind Mass Migration
It has been commonplace to explain the existence of mass migration in the modern era in terms of technological advancements and particularly in terms of revolutions in communication and transport facilities, as though it were all a largely natural development. This overlooks the fact that a great deal of the more recent waves of mass migration, those with which we are most familiar, has actually been an effect of an international economic policy. Technology is what makes the mass migration possible, to be sure, but it really does not explain why it is happening. To this question of why, Social Credit provides an original and cogent answer.

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