Many things are not going well in today's society, but if we look closely at the news, the problems that are making the headlines — inflation, the housing crisis, the destruction of the environment — all have their origins in the problem of money and the lack of purchasing power.
This money problem is basically caused by the way money is created by commercial banks, in the form of debt. Louis Even describes this system as "the greatest thief, the one who cannot be stopped" (see page 4).
In fact, this theft will continue as long as governments do not assume their sovereign role in money creation for their nations. Until this is done, no other reform will be possible. This is what Pope Francis said when he denounced the world financial system in 2019 (see page 6). As far back as 1985, Saint John Paul II spoke of the reform of the world financial system as being "the most urgent and necessary [reform]".
For example, a number of African countries gained their independence in the early 1960s, but they are not really sovereign nor independent because they did not create their own currencies. For example, fourteen African countries still use the franc note issued by the French government.
Economic Democracy has three foundational principles: money should be issued without interest by society, dividends should be issued to all and prices should be discounted. Implementing these principles would solve most of the problems of the day solved (see page 7). Some politicians are talking about firing the Governor of the Bank of Canada because he is not doing his job, while others say that the Bank's independence must be respected. Under a system of Economic Democracy, the independence of the central bank would be preserved. All the government would have to do is ensure accurate accounting.
Some will say that one country alone cannot apply Economic Democracy and issue its own debt-free currency, and that we must instead wait for every country to do so. To this, Louis Even and C.H. Douglas, who conceived Economic Democracy, replied that a country can act immediately without waiting for others, since money does not cross borders and derives its value from the country's productive capacity (see page 41).
Among the other things that are wrong with society is the 'false science' of gender ideology, which claims that we can be something other than a man or a woman. Several bishops, and even Popes Benedict XVI and Francis, have spoken out on this subject and warned against this ideology, defining it as a "definitive rebellion against God the Creator" (see page 36).
Louis Even, co-founder of the Pilgrims of St. Michael, aimed to demonstrate that the principles of Economic Democracy would perfectly apply the Church's Social Doctrine. Douglas, who developed the principles of Economic Democracy, stated that it could be summed up in two words: applied Christianity.
Many saints have been attracted by the Church's teaching on social justice and have sought to apply it in practical ways. Father Albert Hurtado Cruchaga, a Chilean Jesuit priest who died in 1952 and was canonized by Benedict XVI in 2005 (see page 44) was one such saint.
The new Blesseds, the Ulma family of Poland
Speaking of saints, an exceptional event occurred in September, 2023 in Poland. For the first time in the history of the Catholic Church, an entire family was declared blessed, as a result of their martyrdom during the Second World War (see page 9).
Let's invoke them, as well as all the saints of Heaven noted in the 2024 calendar included in this issue, and let's remember to pray the Rosary of the Virgin Mary, a most powerful weapon for these times.v