Borrowing money took a new turn in Japan when interest rates (of the Bank of Japan) fell under zero per cent for the first time in history, in order to boost Japan's economy. On June 25, 2003, this rate was minus 0.001%, which means creditors will pay interest to their debtors. Since Japan's banking system is on the brink of total collapse, the bankers are willing to go against one of their most sacred principles, as a last resort.
Alain Pilote has been the editor of the English edition of MICHAEL for several years. Twice a year we organize a week of study of the social doctrine of the Church and its application and Mr. Pilote is the instructor during these sessions.
First International Conference on Douglas Social Credit and Catholic Social Teaching
On May 21st and 22nd, 2026.
Scholars, students, clergy and the public who are interested in the renewal of economic thought are invited to the 1st International Conference on Douglas Social Credit and Catholic Social Teaching
Rougemont Quebec Monthly Meetings
Every 4th Sunday of every month, a monthly meeting is held in Rougemont.
Subscribe