When we speak about economics we are referring to the process by which the goods of the earth meet and serve the needs of the population.
The cycle is incomplete if we consider production alone. We can say that economics has not met its goal if goods do not meet their destination, which is consumption. It is not enough to grow wheat: bread must make its way to the stomach. Similarly, shoes must shod bare feet, clothes cover naked backs, homes must have necessary furnishings and wood must make its way to stoves and fireplaces.
Economics is successful when the cycle of production and consumption is satisfied. It is unsuccessful when the goal of consumption is not met or only met for a privileged elite.
Each person is entitled to an optimum amount of the earth’s goods, at least in an amount sufficient to provide for life’s necessities. A system that does not guarantee these necessities of life to all members of society falls short. The Church has asserted this.
Food, clothing, dwellings, furnishings, fuel, medicine, education — these are the goods that support and enrich life.
Today, it is straightforward to produce these essentials. Everywhere these items can be purchased. Buyers are what’s needed today, not workers.
The issue today is not growing wheat but ensuring that bread is in the pantry. Shoes can be readily manufactured but ensuring feet are shod is a challenge. Why is this so?
Indeed, the hungry person needs food. Why does the satisfaction of hunger not match the ample availability of food? Coal is available and stoves need coal. Why are stoves empty while the coal miner sits without work and children shiver in unheated dwellings?
Why are sick persons and the medications they require not congruent?
This pattern is true for all goods despite intensive sales and marketing strategies.
Goods, wealth in other terms, exists. Access, in the form of money, is missing. Essentially, goods are made for the public but the public does not have the money to obtain the same goods.
Money is the essential ingredient in obtaining available products. If there were no goods, money would be useless. Since goods are available but money is not, the public is deprived of an abundant production of goods.
Which is more difficult? Producing food, clothes, homes and furnishings or ensuring access to them? Even though production is more difficult we have an ample supply; access is the problem in modern economies.
Access to goods is by a standard route: coins, printed paper money or bank account entries. The key is the possession of these forms of money.
Who adds wealth to the world? Workers.
Who creates access to the world’s wealth? Bankers.
Workers, aided by technology create an abundance of wealth. Bankers, abetted by a diabolical system, cause scarcity by restricting and controlling credit.
Money, the ticket to goods, is scarce for two reasons. First, the banker, when issuing money-tickets into the world, places them in circulation for a limited term before requiring they be returned. Secondly, he requires that more money be returned than he issued. It is no wonder that the tickets become scarce. There would be less than none left were it not for public debts, mortgages on farms and houses and numerous bankruptcies, all of which represent tickets that were not returned at the end of the term set by the banker.
The money makers, the bankers, determine the quantity of tickets and therefore determine our standard of living.
We do not eat in relation to the quantity of food in the country; our dress is not in accord with the quantity of clothes and shelter is not available to the extent that construction materials exist. All these are constrained by the quantity of money that the banking system permits us to have.
Despite denunciations by various Popes it continues in this manner.
When and how do banks issue money and when and how do they destroy it, and thereby restrict the tickets necessary to live?
The government neither creates nor issues money.
It taxes and borrows in order to have money. When private individuals cannot be taxed further the government borrows from the banks.
Banks received permission to create and issue money from the government itself. When the government wants money it indebts itself to the banks. What an outcome for the privilege governments graciously granted to them!
It is society itself which should issue money according to the total quantity of useful things that could be for sale in the country. Instead thanks to governments, society submits itself to the bankers’ will. People, like the government itself, suffer from the lack of money.
Thus private interests rule governments and the people become slaves of these private interests.
Those who study the question are astounded at such disorder, and more and more they demand that the government itself issues money according to the needs and possibilities of the country.
This does not mean that the government should issue the money according to the caprice of men who are in power, nor that they should use this money as they please.
Producers make goods and consumers use them. Governments can act in an accountants’ capacity, determining the total volume of production and consumption, and issue money accordingly.
An accountant does not own the money he counts; he merely records figures. He does not create facts pertaining to production and consumption but simply reports on these matters.
It is on the principles expounded in numerous articles in the journal, MICHAEL, that Social Credit monetary principles provide a Dividend for each citizen in proportion to a nation’s productivity.
The reader is invited to study Social Credit to understand:
1. that everyone has a right to the necessities of life;
2. that money should be at the service of man, not man at the service of money;
3. that money should be issued according to production, and consumption not be limited by the supply of money;
4. that “systems are made for man, and not man for systems”; and
5. that money should not restrict the freedom and development of the human person.
Today’s economic system is based on money. This means that finance governs production and production governs consumption. Consumers must adapt to what is available and are restricted by the number of tickets in their possession. This is backwards.
A Social Credit economy will begin with the person. The consumer will direct production which will respond to the expectations and wishes of the consumer. Finance will have an official assignment: meeting the desires of consumers to secure the goods they want by issuing credit to the limit of what is possible.
Is there a place for morality in this system? Yes. The free person will use reason to guide his actions as a consumer. Morality, faith and education will be his intervenor. Today, finance is the intervenor. Finance has usurped reason in directing the actions of men.
Social Credit will restore order. This sound philosophy exists more firmly in the mind of a Social Crediter than in the head of a banker.