What is your opinion on Social Credit as theorised by Major Clifford-Hughes?

Basically he argued in midst of WW1 that representative democracy has been usurped by bankers' infiltration of governments through the existence of central banks, which made governments pay interest to private banks for the use of their own money. He maintained that the central bank's ability to create money out of thin air allowed banking interests to buy up American and British media outlets to sway opinion in favor of the war and the banks (run of course by such ethnics as Rothscild, Rosen, Sachs, Goldman et al "Hebraica Ashkenazim-Khazar-ium"...).





During the First World War, Douglas was a Scottish engineer employed in the analysis of the costs of aircraft production at Farnborough, England. His analysis led him to suspect that current methods of financing of industry made it impossible for people to buy all the goods that industry had placed on the market. The consequence was "poverty in the midst of plenty", unsold production, cut-throat competition, then business stagnation, unemployment, international trade rivalry, and ultimately war. He expressed this initially in an article published in 1919 under the title "The Delusion of Super-production".

What is your opinion on Social Credit as theorised by Major Clifford-Hughes?
It sounds plausible. Add into the situation the Marxist inspired income tax, which wasn't really around back then (at least in the USA where only a very few people paid income taxes). The income tax creates the delusion that government is getting a regular supply of money from citizens, while all it really needs to do is borrow all it needs from the central bank. But without the input of taxes, there is no obvious way to pay off the loans.


The income taxes serve another purpose: it keeps the working class in constant financial desperation. People must continuously work (at the war industries possibly) and never achieve financial independence.


During WWII, income tax withholding was established and it allowed the government to seize worker's income before the worker themselves got it, so they never really missed it. Imagine if we had to pay our tax bill on April 15 with one big check, there would be rebellion.


Thanks for posting this, I looked it up and found flaws in his proposals:





"The proposals made by Douglas were contained in "Three Demands" -





1. For a "National Credit Office" - to calculate on a statistical basis the amount of credit that should be circulating in the economy.


2. For a "Just Price" - a price adjustment mechanism to absorb windfall profits in times of inflation, and return them to people in terms of subsidized, lower prices when the cost of goods on the market exceeds the money available to buy them.


3. For a "National Dividend", to give a basic guaranteed income to all regardless of whether or not they have a job. "





Instead of a government agency that tries to control credit and distribute wealth with welfare and subsidies, the REAL solution would be an honest monetary system based on gold, silver, or whatever the MARKET (ie, free people) determine money should be. The true democratic government would then accept funds with that, and not make policy of what money is, only to enforce laws against fraudulent money.
Reply:i dont know ask a political science class or some thing
Reply:You sound like a chap that is badly in need of a hobby.