A Book Review of Social Credit Economics

In this book review of M. Oliver Heydorn’s book “Social Credit Economics”, Arindam Basu noted:

“As befits his Catholic background, Dr. Heydorn occasionally stresses the Christian philosophy underlying Social Credit. However, as David Astle has shown in his classic work, “The Babylonian Woe”, the battle between the money power and mankind long predates the advent of Christianity. Indeed, it is but one theatre of the age-old struggle between centralization and decentralization, subversion and tradition, monotheism and polytheism, - and in the final analysis, subservience and independence.Or as Lord Acton put it:“The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.”Seen from this perspective, Social Credit Economics is a most valuable weapon in the people’s arsenal.”

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On 27 March 2017, ABC News reported:“In 2014, 12 financial institutions signed up to build the NPP, (New Payment Platform…ed) partly as a way of bringing Australia up to speed with other countries that are ahead in the race to becoming completely cashless.Sweden is on track to become the world’s first completely cashless economy, and just last November India got rid of its highest denomination bills, effectively eliminating 90 per cent of its paper money.  Professor Holden estimates Australia could be cash free as early as 2020…”

Am I the only one who sees the centralizing dangers in Australia becoming ‘a cashless society’ under the present financial policies? According to Michael Edwards on ABC AM, 27 March 2017:“The Reserve Bank is introducing new technology this year which will push Australia even further towards being a cashless society.Later this year the bank will roll out a new system called the New Payment Platform (NPP).  The NPP will mean money can be transferred almost instantaneously, even when the payer and payee are members of different banks.  (Please note this sentence is about ‘credit’ – not physical money.  That is, ‘money’ in the form of ‘blips on a computer’.)

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It was in 1926 that C.H. Douglas first wrote, “In war-time, therefore, civilisation does not fail.  It is in peace time that it fails.”  That statement was repeated in August 1940 - found here http://www.alor.org/The%20Social%20Crediter/Volume%204/The%20Social%20Crediter%20Vol%204%20No%2021%20August%203%201940.pdf)

As the world forces bring us once more to the brink of war, this time a devastating nuclear war, it is worth considering his message written so long ago:

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A discussion taking place among the Social Credit discussion group is centred on the idea that the banking system’s credit creation system (creating money out of thin air) is fraud or theft by conversion? Most of the participants are in America and Canada so the discussion centres around the laws of those two countries.

D…. writes:

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Political Donations are Corrupting Benefits Too, Mr. Turnbull

Australia’s Prime Minister Malcolm Turnbull was lost for words at a press conference to announce a bill to outlaw payments between unions and business when he was asked by a pesky journalist to acknowledge that corporate political donations were just as corrupting. - - - Published on Apr 2, 2017


“I am certainly not here as a moralist; but as an engineer. I have an appreciation of the importance of foundations. I find it incredible that a stable society can persist founded on the most colossal lucrative fraud that has ever been perpetrated on society”. - - C. H. Douglas, 1936 THE STUDENT ECONOMIC REVIEW VOL. XXVIIIntroduction, Senior SophisterMONETARY THOUGHT

The name of Clifford Hugh Douglas (or Major Douglas, as he was more commonly known) will not be familiar to many students of economics, but the economic writings of this engineer are of great relevance in coming to terms with what Keynes (1936: 371) labelled ‘the outstanding problem of our economic system’: the problem of deficient demand.

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Taken from the Liberty Newsletter April 2017The Multicultural Statement: The Australian government has just issued ‘Australia’s multicultural statement’.It talks about ‘Our shared story’ and owing our accomplishments as a nation to the contributions of more than 300 different ancestries—from the First Australians to the newest arrivals.” It mentions the foundation of modern Australia, through British and Irish settlement (in the colonial days I rather thought the Irish were British?) and the establishment of our parliamentary democracy, institutions, and law.

BUT nowhere does it mention that our constitution is established under the Crown!  Of course, this is not unexpected. In fact we had written to the Prime Minister to specifically request that any statements regarding multiculturalism or Aboriginal recognition must make mention of the fact that we are a constitutional monarchy.The problem is that there are republicans right throughout the Coalition government including the persons responsible for the multicultural statement, the Minister for Social Services, Christian Porter MP and his Multicultural Affairs Assistant Minister, Senator Zed Seselja.

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US Attack On Syria Was Largely Symbolic by The Saker

Ref: http://www.informationclearinghouse.info/46820.htm

"The Saker" - I have an important update: based on Russian sources, including video footage and the reports of one Russian journalist on the ground, Evgenii Poddubnyi, it has become clear that the US strike was largely symbolic.  Here is the evidence:

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Social Credit USA 2017 - A Monetary System for all Americans (Australians-ed) by M. Oliver Heydorn

Isn’t it about time that we had a financial system that worked for all Americans? The Social Credit proposals of the engineer, Clifford Hugh Douglas, explain the kind of monetary reform that needs to be implemented in order to fix our current dysfunctional debt system.

1. In economics, the common good consists in this: all of the members of a society are able to obtain the goods and services that they need to survive and flourish with the minimum consumption of material resources and of human labour.

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So Andrew Bolt, of the Herald Sun thinks that Pauline Hanson has “caved” in, has “backflipped” on the issue of penalty rates for hospitality and retail workers- March 28, 2017 8:10am:

“One Nation leader Pauline Hanson has backflipped on her stance on weekend penalty rates, announcing her party won’t support the Fair Work Commission’s ruling to slash weekend rates for hospitality and retail workers. In a Facebook video posted on Monday evening, the One Nation leader said she had changed her mind after experiencing a backlash from her supporters. “Let me make it quite clear. After listening to people coming through my office, and on the streets, and back home over the weekend in the lead up to this, generally the majority of people do not want a cut to penalty rates,” she said. “You’ve got my support. I’ve listened and this is what you want and I will not support any cut to penalty rates”.

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Cancel debt, prevent inflation and to decentralise financial control of production to the consumers. Geoffrey Dobbs wrote of C. H. Douglas’ 1924 proposal in an August/September 1988 “Home” journal Book Review:  A Personal Basic Income For All: “In 1924 C. H. Douglas put forward a specific proposal for a National Dividend in his book Social Credit in an appended Scheme for Scotland. This was, and remains, the best known of the proposals put forward by C. H. Douglas and the Social Credit Movement which he initiated, though never as an inflexible objective or a panacea, always as a part of a package accurately designed to cancel debt, prevent inflation, and to decentralise financial control of production to the consumers….”


---- has been filled by borrowing" so explained The Guardian, in a 16 June 2014 article. Well, the situation has not changed since then, and those who can, are still borrowing and adding to the debt burden we all suffer under.

Under the heading The Coming ‘Tsunami of Debt’ and Financial Crisis the article reads: “Forces that caused the world economy to collapse, including income inequality and debt, are again in action, and could drag corporations down in their wake

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Further Comment on A & B Theorem

I love when you type out an email, accidentally hit the wrong key, and erase it all! #@!!

I agree with what you write in your email, Joe, with one caveat, ceteris paribus (all things being equal).

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Further Discussion on A+B Theorem

it is more an accounting theorem than an economic one On Tue, Mar 21, 2017 at 2:40 PM, C…. L…. wrote:The A+B theorem, at its core is essentially the same problem that Marx struggled with. How can an employer make money if the cost of the product is equal to the cost of labour? In order for the corporation to be profitable, they have to charge more than the labour cost in order to produce a profit. Douglas extended this to the entire economy, and that’s where his arguments come from.

Response Hi C…..:Actually, while there are some similarities between Marx’s analysis and that of Douglas (how capital and control of it direct the economy), there are some rather big differences as well.

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THE SHORTAGE OF PURCHASING POWER – HENCE DEBT! In both cases cited previously, the core of the problem lies elsewhere.

C.H. Douglas and the A+B Theorem

Purchasing Power and PricesThe simplest method of obtaining a physical conception of the situation is to regard the money system and the price system as a double-entry system of book-keeping. Every article which is produced has a price attached to it, and somewhere on the opposite side of the account there should be a sum of money capable of moving each and every article out of the production system into the consuming system. Since money is the mechanism by which the consumer gives orders; no money, no order; no order, no delivery; and ultimately, no delivery, no production.Having this conception firmly fixed in your minds, you will see at once that if the total amount of money available on one side of the account is less than the total amount of prices on the other side of the account there must be something remaining unsold always. ---- Warning Democracy p. 31.

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State Member for Mount Isa Robbie Katter has slammed the LNP for supporting Labor to vote against a real solution to address rural debt.  In a parliamentary session that went into the early hours of Wednesday morning the KAP’s Rural and Regional Adjustment (Development Assistance) Amendment Bill was denied a vote in the House through the blocking of a motion put forward by Robbie Katter.

“The motion was put forward to enable the Parliament to adequately consider and vote on a solution that would’ve seen a new lending mechanism established to address the shortcomings in QRAA’s current activities”“Each member of the crossbench voted to allow the motion to be heard but it was the major parties who didn’t allow it. It’s unbelievable that they would so blatantly work together to stifle a minor party Bill.”….

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I know two swallows don’t make a summer, but I live in hope that more and more readers will seriously consider C.H. Douglas’ A+B Theorem. 

After reading the two following articles on the debt structure the folk in this land are burdened under, serious interest might just be stimulated.

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FIRST COOPERS, NOW THIS from Lyle Shelton, Australian Christian Lobby

“It has taken less than a week for Coopers Brewery to go from supporting the Bible Society to supporting Australian Marriage Equality. And the tactics of the same-sex marriage lobby have been on full display for all Australians to see.By now we all ought to be able to recite the same-sex marriage playbook from memory – bullying, intimidation, boycotts and threats. That’s how the same-sex marriage lobby hopes to win over the hearts and minds of Australians.

But Coopers was just the tip of the iceberg“Today the next step in the campaign to change Australia’s marriage laws was revealed and it is every bit as ugly as the whole Coopers saga…  Coopers was just the beginning.In today’s Australian we learn that corporate giants like QANTAS have been ‘lobbying’ senior executives to sign an open letter to Prime Minister Malcolm Turnbull pressuring him to break his election commitment on marriage.

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In “The Essential Christian Heritage” Eric D. Butler (1971) reminded his readers that “Western civilisation (was) correctly described as a Christian civilisation… it was the Christian teaching that man is a special creature made in God’s image, which gave the human person a significance unknown outside Western Europe.  Now man saw himself as part of a type of cosmic spiritual drama and felt he had the power to shape history…”

BUT “… The modern concept of the Rule of Law is far removed from the concept of English Common Law… first we must ask “whose law?”  Like every other human system, a system of law must, if the Christian view of reality is to be accepted, serve the individual, to ensure that his natural rights are protected, that his sovereignty as a free and responsible individual is ensured…

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Jordan B. Peterson asking the question in his interview “Religion, Myth, Science, Truth” - found here: https://www.youtube.com/watch?v=07Ys4tQPRis.“...Jung asks:  Which ideas have you and where are they suggesting that you go?  That’s like the Greek god idea, we are playthings of the gods.  These are like metamemes,”.

This question sent me to Dr. Bryan Monahan’s “An Introduction to Social Credit”, first published 1947, second edition published 1967, and the reason being Dr. Monahan included an important passage from Cardinal Henry George Newman’s book “Development of Christian Doctrine” on this very question posed by Jordan Peterson.

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