Page 18 - A Social Dividend: An Income Guaranteed to Each Citizen

u and social security comes from taxation. modelled on the “the workings of the judicial sys-
Money is created, but not created soundly. Money tem”?
is created by banks as debt and so taxation is inevit- The government appoints judges, but does not
able. Under a Social Credit system we would still use interfere in their rulings. Judges do not render verdicts
figures as money but it would be free of debt. All new based on profit; their incomes are independent of their
money would be based on the country’s productive rulings. They render judgements objectively, based on
capacity. laws that they themselves have not written, and based
70. Why has this Social Credit system not been ap- on facts they neither forged nor created. Judgments
plied thus far? are made based on testimonies that establish facts.
It is because Social Credit is not known and under- Judges do not testify in their own courts.
stood. Mankind has been hypnotized with a Jansenist The same would apply to a Social Credit monetary
economic philosophy maintained by financial powers system. The government would name the members
and by those who wish to dominate others. of the National Credit Office (NCO). The NCO would
71. Even if it were good, would Social Credit not be- assure that the monetary system functioned accord-
ing to the law.
come dangerous if left in the hands of an oppres-
sive government? Finance would precisely reflect the facts of pro-
duction and consumption and subsequently guaran-
Social Credit is not likely to become a danger-
ous tool in the hands of an oppressive government. tee that a periodic Dividend was distributed to all cit-
izens. Once its function was clearly defined, the NCO
Social Credit will not replace the banking monopoly would proceed without government interference.
by a state-run monopoly. Government will not create
money at will and for its own purposes. The judicial system requires that justice is ren-
Social Credit would model the workings of the dered openly and publicly. Likewise, the NCO would
monetary system to the workings of the judicial system. draft and publish periodic reports upon which its cal-
culations were made. There would be no place for dic-
72. How can a Social Credit monetary system be tatorship with such a system.
From Where Will the Money Come?

73. From where will the money for the Social
Dividend come?
Let us answer by asking another question.
Where did the money come from the very first
time it was used in trading when it replaced the
more difficult system of bartering? It could not
have come from taxation.
Money consists of figures printed on metal,
paper or in bankbooks. These figures confer the
right to choose freely from products and servi-
ces available for sale in a country.
Once the right of each individual to a Divi- more money.
dend is recognized, all that will be needed is to
issue these figures to each individual. The increase in production due to progress
74. Can the volume of money be increased also calls for an increase in the supply of money.
Who would argue that the amount of money
when production increases? should not change when the productive capacity
Men invented money to facilitate the sale increased?
of products; the more products there are, the 75. Will this not lead to there being too much
greater the amount of money needed. money?
Productive capacity increases when the size Some may say that money would pile up if a
of the population increases. If the number of Dividend was issued month after month. This is
people in a region increased from 100 to 10 000 not the case. The Dividend will be issued regu-
without an increase in the amount of money, ex- larly, but it will be spent at the retailers, and
changes would undoubtedly be paralyzed. An through the retailers the money will be returned
increase in a population warrants the need for

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