It all began when one of the Social Credit discussion group wrote Social CreditOR instead of Social CreditER.   Another of the group thought the person shouldn’t be too concerned because he himself, at various times, had written the word both ways. After these many years I have become conscious of the need to spell it correctly because in my mind one word means debt (not a ‘good’) and the other means a social ‘credit’ (‘a good’), therefore I responded:  “I don't agree with you on this matter of spelling. It is a matter of utmost importance.”

A suggestion was made to “try the internet for the spelling and explanation of creditER and you will find there is no such explanation in most dictionaries.  Plenty of explanations for creditOR because we live in this world of credit/debt.  There is all the difference in the world between the meanings.”

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Our thanks go to Ellen Brown for her latest article, “Central Bank Digital Currencies: A Revolution in Banking”.  Whether the proposed concept is known as ‘digital currencies’ or I refer to it as ‘carbon currencies’, its implementation would achieve the same goal – and that goal is the control of a nation’s financial system being completely taken out of national governments’ hands and handed over to a  Central Banking System, starting with England, China, Canada and the United Sates.    Ellen Brown who writes:

“Several central banks, including the Bank of England, the People’s Bank of China, the Bank of Canada and the Federal Reserve, are exploring the concept of issuing their own digital currencies, using the blockchain technology developed for Bitcoin. Skeptical commentators suspect that their primary goal is to eliminate cash, setting us up for negative interest rates (we pay the bank to hold our deposits rather than the reverse).

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Wages, Salaries and Dividends are only ever a Ratio of the Total Cost of Production

Economics, aside from financial conventions is simply the application of energy, human and non-human, to the conversion of material into forms having utility or pleasure for humans.  In nature these processes are automatic and simply flow—where nature abhors  a vacuum.  For example, we speak of the “balance of nature”, of homeostasis in physiology, the principle of sufficiency in engineering.  Production and consumption are merely two sides of an equation and neither has any reason for existing without the other—there is no incentive to produce without a prospect of consumption and there is no possibility of consumption without production.

Money is an artificial human construct or system of accountancy and there is no reason automatically to assume that it reflects accurately the relationship between production and consumption.  Our money or accountancy system should enable all available production factors to be mobilized as desired and all production to be accessible to the community simultaneously and dynamically as it is completed and becomes physically available. From a macro-economic standpoint the entire society of individuals should have access to the total production in any given production or costing cycle.  This is simply a fulfillment of natural law.  All organisms have an inherent right in natural law to draw sustenance from their environment.  This reality involves no abstract or pseudo-moral considerations.

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Leisure and Social Credit

Yes, leisure is the basis of culture ... and our contemporary 'culture'  is as degenerate as it is partially on account of the fact that we lack leisure.

Regarding depression after leaving the daily grind, I would suggest an alternative explanation: people are prepared and habituated to work under the present educational and economic systems by following orders and fulfilling routine tasks. Is it any wonder then that once the order-givers are no longer around some people, who are unable to compensate for the loss of direction, will feel lost? It would be much better if we educated people for self-direction so that they could find meaningful things to do on their own.

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Comment posted to the "Distributist Review"

From a Social Credit perspective, economic efficiency in physical terms means producing whatever we need to survive and flourish with the least amount of human labour and resource consumption.Thanks to technological advances and modern industrial technique, it is possible for us to produce all that we need while calling on a small and continually decreasing portion of the labour force. As an example, it has been widely reported that, as part of the 'fourth industrial revolution', 50% of American jobs will be automated within 20 years. 

We can either accept this state of affairs as a benefit, because it increases the time we could be spending in leisure (i.e., self-chosen activities) or, if we insist that everyone must work and that the economy must provide everyone with a job, we must devise ingenious methods of having people 'dig holes and fill them up again'.

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As noted in article "To Distribute or Redistribute," 15 September, 2016  “There is a debate going on beneath the nonsense of mainstream economic discussion. The contenders are agreed on one important point; that a better distribution of wealth is the solution to our economic woes and the road to a more functional society….”

But what are some of the solutions being proposed?  We see that The Distributive Review has placed an article on Productivity online:“Distributism is often associated with bucolic scenes and G.K. Chesterton’s encomiums of a landed peasantry. Thus, the casual observer might be left with the notion that Distributism is something of a relic, with nothing to say to the high-tech world we have become. But nothing could be further from the truth. Indeed, Distributism is, to date, the only articulated answer to a particular problem that advanced technology has brought upon us.

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To Distribute or Redistribute

From Social Credit Angles

There is a debate going on beneath the nonsense of mainstream economic discussion. The contenders are agreed on one important point; that a better distribution of wealth is the solution to our economic woes and the road to a more functional society. As Martin Luther King said ‘it is now incontestable that the wealth and resources of the United States make the elimination of poverty absolutely practical.’ This is true throughout the industrial world and could be true everywhere.

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A generation left behind: Millions of Chinese children abandoned as parents seek work

by China correspondent Matthew Carney Around 61 million children are left behind in China's rural villages and towns while their parents work in the big cities.Li Yikui is a 13-year-old boy who radiates warmth and friendliness. But inside he is hurting."I love to be with my classmates, so that I don't feel lonely," he said.Yikui has not seen his father in four years. His mother visits just once a year.When he is asked if he misses them, a big tear rolls down his cheek and he covers his face with his hands. It is a silent, but eloquent, answer.Yikui is one of the millions of children left behind, the hidden casualties of China's rapid development.Studies show about 70 per cent of the 'left-behind' kids suffer from emotional trauma, depression or anxiety.They are sometimes called the lost generation, or the damaged generation.About a third of the left-behind children — 20 million — will get involved in crime, while another third will need time in mental health institutions, according to a small Christian NGO called Children Charity International (CCI)."I can't imagine what that would do to China," CCI founder Joseph Lim said.So far young Yikui is staying on the right path.We meet him in a noisy classroom at Xiaping school in central China's remote and mountainous Hefeng county.About 40 per cent of his classmates are growing up without parents. They tend to lag behind other kids in their grades and behaviour, so they need extra help."The left-behind children lack the care and guidance of their parents. So they lack self-discipline to some extent," vice principal Mr Xu Liang said.

Read further here: http://www.abc.net.au/news/2016-09-06/millions-of-chinas-children-left-behind/7816010


http://joannenova.com.au/ JoNova asks:  Most of Asia’s bankers ignore climate risks. Hmm. Rich and dumb, or rich and skeptical?

A survey in Asia found that 69% of financial institutions there don’t bother with assessing climate change risks when considering financing projects. Either these bankers have missed the last 20 years of IPCC messaging (careless inattentive bankers), or they’ve seen it and they know it’s baloney (skeptical bankers). Hmmm. What’s more likely?Looks like two thirds of Asian banks don’t believe the IPCC:

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This is the greatest political cop-out. CHINA BUYING UP OUR PRIME AGRICULTURAL LANDListen here.... http://www.2gb.com/audioplayer/202331

ALAN JONES ON THE GREAT CHINESE BUY-UP The Federal Government's release of Foreign Investment figures - and their argument that "China only owns one per cent" - shows how suddenly deeply panicked they are by the emergence of massive people power and the growing rage at the sell-out of our nation.What they haven't added, mind you, is the fact that China is mostly only buying up the best of the best - and remember, we only have 4% of our nation classified as 'prime agricultural land"Of course, there are plenty who insist that the big sell-off to China is all part of the major parties' "business plan ' - that, and maintaining the massive flow of overseas donations to both parties.


David Pascoe’s Facebook writes:  Beyond belief: The Chiarman of Australian Foreign Investment Review Board joins ‘Asian Buyout Team’ – yet sees no conflict of interest.  The Chairman apparently believes that 'the hooker in a suit' was simply a line in a movie.  No wonder the rage is burning right across the nation

ABC News:  7/9/2016  Brian Wilson FIRB chairmanBear in mind, Brian Wilson has been chairman of the FIRB since April 2012. Scott Morrison, the Treasurer, has rejected concerns about the potential for perceived conflicts of interest after the chairman of the Foreign Investment Review Board was appointed to a key advisory position with a global private equity group.A spokesman for Mr Morrison said FIRB chairman Brian Wilson would step aside from deliberations that involve his new role as a senior advisor with The Carlyle Group's Asia buyout team.  "He has agreed to remove himself from consideration of any cases that Carlyle is involved in," the spokesman said."FIRB needs to attract people with deep knowledge and experience in foreign investment. It has strong procedures in place to manage conflicts."  Carlyle issued a statement containing comments from Mr Wilson who said he was "delighted" to partner with the private equity group."I look forward to working closely with the team to assist as it pursues new investment opportunities across various sectors in Australasia and to create value for Carlyle's portfolio companies," he said.In his role as FIRB chairman, Mr Wilson is in charge of the organisation that recommends whether the Treasurer should approve or reject large foreign investments in Australian businesses.

The Social Credit Analysis of Cost

In the interests of simplicity, the Social Credit indictment of the existing economic order might be reduced to the following claim: the financial system is not self-liquidating.If we were to conceive of the financial system, which is primarily composed of the banking and cost accountancy systems, as a sort of computer software overlay that reads and represents physical economic facts by measuring economic activity, the basic idea is that instead of automatically balancing price build-up on the one hand with income distribution on the other, the existing software is designed to generate a flow of costs and hence of prices in the course of the production of any industrial good or service which will necessarily exceed the consumer purchasing power that is simultaneously being released in the form of wages, salaries, and dividends. The end result is a chronic lack or deficiency of proper or true consumer buying power relative to the goods and services on offer, i.e., of buying power that is not derived from the mortgaging of future incomes via the contracting of additional or compensatory debt from the banks.1

A self-liquidating financial system would always maintain price-values and consumer incomes in an automatic balance, such that the act of producing a specified volume of goods and services would always distribute, ipso facto, sufficient purchasing power to liquidate, i.e., to cancel once and for all, the corresponding price-values. The present system is not self-liquidating precisely because it generates prices at a faster rate than it distributes the consumer income with which those prices might be met.

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Global central bankers, stuck at zero, unite in plea for help from governments by Howard Schneider

JACKSON HOLE, Wyo. (Reuters) - Central bankers in charge of the vast bulk of the world's economy delved deep into the weeds of money markets and interest rates over a three-day conference here, and emerged with a common plea to their colleagues in the rest of government: please help."Mired in a world of low growth, low inflation and low interest rates, officials from the Federal Reserve, Bank of Japan and the European Central Bank said their efforts to bolster the economy through monetary policy may falter unless elected leaders stepped forward with bold measures. These would range from immigration reform in Japan to structural changes to boost productivity and growth in the U.S. and Europe.

Without that, they said, it would be hard to convince markets and households that things will get better, and encourage the shift in mood many economists feel are needed to improve economic performance worldwide. During a Saturday session at the symposium, such a slump in expectations about inflation and about other aspects of the economy was cited as a central problem complicating central banks' efforts to reach inflation targets and dimming prospects in Japan and Europe...."Continue reading.... http://www.reuters.com/article/us-usa-fed-fiscal-idUSKCN1120SU

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“The pragmatist’s conception of freedom ultimately fails because it does not understand the relation between freedom and thought, that is, between freedom and spiritual law.”
- - George Grant in "Philosophy in the Mass Age"

In “Utopia, Nostalgia and the Jew,” 28 August, 2016, Gilad Atzmon sees ‘the Left and progressive thought’ yearns for a Utopia, an imaginary ideal society as their political and social goal.   He comes to the conclusion “No left or progressive intellectual narrative is impervious to some sort of utopian ideal.”
But, “… for about half of the American people, utopia is nostalgic. The return of the ‘American Dream,’ of being great once again – this is the idyllic dream shared by supporters of both Donald Trump and Bernie Sanders.”

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The following post was made  to the Return to Order site and can be viewed at the following address:  http://www.returntoorder.org/2013/12/rush-twitter-economics/?utm_source=sm-rto&utm_medium=email&utm_content=RTOE0234&utm_campaign=rto_newsletter#comment-2857329929 There appear to be some very serious misconceptions about the nature of our financial and economic system.  From a metaphysical or philosophical aspect the problem arises from an erroneous assumption that salvation is to be found in work--an assumption diametrically opposed to the Christian Doctrine of Salvation through Grace, which is not earned but a Gift.  Our financial and economic system is firmly based upon the false Doctrine of Salvation through Works.  It is technically and mathematically defective and as has been said, even an army of angels could not administer it successfully.  In order to achieve a balanced society it is necessary to have a balanced price-system.

(1) The purpose of a rational economy is not to create work, i.e, “jobs”, but rather to produce goods and services for society as, when and where required with maximum efficiency and an absolute minimum of inconvenience for all concerned. Perverting the economy to create work, rather than eliminate it, is irrational, entrenches inefficiency and derives from the false and domineering philosophy known as “Puritanism”, i.e., the desire for power over individual human activity. At worst it is the basis of tyranny; at best it is pure superstition.

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There were two kinds of Capitalist.  One was the Production Capitalist and the other the Finance Capitalist.  It is essential in our thinking that a broad line of distinction should be drawn between the producing capitalist and the finance capitalist, and the vast difference in the respective roles played by each.

Production CapitalismThe producing capitalist—large and small - produced goods and rendered service, and the amazing increase in production over the last 100 years is eloquent tribute to his achievement.  From the point of view of industrial development in all fields along with scientific knowledge, no one will dispute the proposition that the last century has been the most amazing in history.An age of scarcity gave way to an Age of Abundance. Living standards were raised and hours of toil were reduced in industrialised countries.  Such achievements are a striking monument to the free initiative, enterprise, industry, and driving force of the industrial capitalist, be he small farmer, large industrialist, or medium-sized manufacturer. Even the most bigoted Socialist, with any sense of fairness, must concede that production capitalism, so far as the production of goods and services are concerned, has done a great job, and brought the world into an era in which the Abundant Life is possible for all the people in every industrialised country.  That this abundant life is not being enjoyed by all is due solely to the fact that finance capitalism has not kept pace with production capitalism.

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The Just Price: A Ratio, not a Moral Aspiration by Wallace Klinck

One of the major catastrophes of history was the failure of the Mediaeval Church to grasp the idea that the Just Price was a ratio, not a moral aspiration.  As a result of this failure, we have lived in a welter of meaningless phrases such as “fair wages”, “reasonable prices”…

Perhaps the most curious psycho-political phenomenon of this odd period is the glorification, by considerable numbers of people whose memory comprises records of a world glut, both of preparations for the onset of an incomparably greater glut, and the imposition of every conceivable hindrance to its absorption.  - - C.H. Douglas, 1943

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Looks like the Folk in America are Waking Up!

“You Were Born to do MORE than just go to Work, Pay Bills and Die!” read the headlines of this article mentioning Social Credit and C.H. Douglas: After Defeat of Swiss Basic Income Proposal, Let’s Name the Real Problems, Find the Real Solution  by The Truth Hound/ Mark Anderson, http://www.thetruthhound.com The June 5 Swiss ballot proposal to introduce a guaranteed basic income—an unconditional allowance for everyone in that neutral Alpine nation—was defeated largely on the basis of the Swiss government’s claim that the idea would “cost too much.” Reuters added: “Swiss voters rejected by a wide margin . . .  a proposal to introduce a guaranteed basic income for everyone living in the wealthy country after an uneasy debate about the future of work at a time of increasing automation. (Emphasis added).”

Yet, the plutocratic Financial Times acknowledged, “The Swiss may have just voted to reject a proposal for a guaranteed minimum income  . . . but that hardly means the idea is dead. Pilot projects and feasibility studies are in the works across the developed world, from the Netherlands [and Finland] to California. In Canada, the federal Liberals, along with governments in Ontario, Quebec and Alberta have expressed interest in the concept.”

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A Nation's Weakness is its Economic Policy by Wallace Klinck

The following message was posted to Paul Craig Roberts  PaulCraigRoberts.org in response to an article by Paul Craig Roberts and Michael Hudson: "Russia's Weakness is its Economic Policy."http://www.paulcraigroberts.org/2016/08/10/russias-weakness-is-its-economic-policy-paul-craig-roberts-and-michael-hudson/

The essential problem with the modern economy, per se, is that nations generate industrial costs and prices at a greater rate of flow than they distribute effective consumer incomes capable of liquidating the costs of production.  This is consequent to a fundamental flaw in the operations of the Banking (i.e,., credit) system as it interacts with industrial cost-accountancy.  Simply put, the price system is intrinsically non- self-liquidating.  This problem magnifies as we become more capital intensive through modern technology and increasingly displace the need for human input into productive processes--a wonderful and marvelous development in itself.  The problem is that it creates an increasing gulf between costs and incomes--a gap which we can only "bridge" by increasing bank debt and attempting to export more than we import, an obvious impossibility for all nations of the world   Of course the dysfunctional nature of the price-system leads to the alternating economy and periodic bankruptcies and foreclosures which liquidate debts, but at the expense of loss of borrowers' assets to the banking industry..

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What is Canada?

On Aug 13, 2016, at 1:16 PM, Al Romanchuk <This email address is being protected from spambots. You need JavaScript enabled to view it.> wrote:

My goodness to Murgatroid!  I didn’t know that I was promoting fascism and communism, as though there is any difference.  Lordy, lordy I also didn’t know that NO work by humans produces anything.  I didn’t know that HUMAN BEINGS were NOT behind the inventions of all the technology, devices and gadgets people play with today and have been for decades.  Gosh, if I ever knew that someone OTHER than humans were behind all of this I would extoll the virtue of comfort, relaxation, non-production, idleness and simply rely on all those wonderful, productive taxpayers to supply me with all the amenities WITHOUT IT COSTING ME A CENT!
    But, Wallace, YOU FAILED MISERABLY IN NOT ANSWERING MY QUESTION and you perambulated on and on and lectured us about economics, cost-accountancy, state-mandated projects and a plethora of other matters of which you are much more intelligent than me.  I tend to be, and have been for the better part of my life, rather simplistic in these matters.  I look at the bottom line; do my expenses exceed my income, do I have to get a loan from the bank to make up for the deficiency and thus become even more indebted?  How can I possibly take home any kind of wage or salary when I have no income?  I’m in a conundrum!
    I have no quarrel with your dissertation and you may be right for all I know.  But it is all pigeon-English to me and although I have PLEADED with you for years to address these matters using UNDERSTANDABLE ENGLISH, you continue to provide your analyses in language which is almost alien.  Oh, on the question of my atheism let me put it to you this way: I have been an atheist all my life except for being married twice in the United Church and because of the Christianity surrounding them, my marriages failed miserably.  I don’t need an awakening nor have I asked for one from anyone.  My friends and colleagues take me for what I am; nothing more and nothing less.  But enough of this religious hogwash!
    So, if I might tap your brain, would you kindly answer my question.  If you don’t I can only presume that the question has very little relevance to you and should be dismissed out of hand!  BEWARE THE LEAVEN OF THE PHARISEES.


Wally Responded:

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