Edmonton Senior
January, 2008
L E T T E R S
Page 6
Social Credit
poses threat to
centralized power
Editor,
Lou Broten’s
column (November 2007) “From Civic
Politics to the New World Order” is to be commended
for sounding the alarm re the treacherous and frightening
move toward “globalization” and the quickening political
activities directed to amalgamation of the nations of the
world into an increasingly centralized world state or “New
World Order.”
Removal of
the locus of political power evermore distant
and beyond the control of the individual citizen portends
establishment of the ultimate tyranny.
Mr. Broten’s
references to the influences giving impetus
to this sweeping move toward centralization of world
power seem apropos in consideration of such unequivocal
statements from such as David Rockefeller, quoted from his
autobiography Memoirs:
“For more
than a century, ideological extremists at either
end of the political spectrum have seized upon well-publicized
incidents to attack the Rockefeller family for the inordinate
influence they claim we wield over American political
and economic institutions.
“Some even
believe we are part of a secret cabal working
against the best interests of the United States, characterizing
my family and me as ‘internationalists’ and of conspiring
with others around the world to build a more integrated global
political and economic structure – one world, if you will.
If that’s the charge, I stand guilty, and I am proud of it.”
Mr. Broten’s
reference to the Social Credit movement,
especially its policy as originally advanced by the late
Major Clifford Hugh Douglas, is especially relevant inasmuch
as genuine Social Credit
policy would empower each
citizen, through appropriate financial reform, producing
growing independent income and falling prices by means of a
universal National (Consumer) Dividend and Compensated
Price. Social Credit poses the greatest threat to the policy of
centralized power.
His resort
to Webster’s Encyclopedic Dictionary, for a
definition of Social Credit is, however, unfortunate.
The description presented by Webster’s is almost an entire
misrepresentation of Social Credit.
Douglas did
not propose to distribute the profits of industry
to the consuming public. His economic analysis revealed
an exponentially increasing insufficiency, in each successive
production cycle, of effective consumer income distributed,
compared with the prices generated within that cycle by
industry – a disparity largely resulting from the premature
cancellation of consumer income consequent to added
allocated capital charges recovered in consumer prices at
point of sale.
Orthodox
financial policy attempts to “bridge” this financial
chasm by increasing debt issued for current consumption
as an inflationary charge to be recovered from future
cycles of production. The major economic problem
is that in consumer prices the consumer is properly charged
with capital depreciation but, quite improperly, not credited
with capital appreciation.
The Social
Credit Consumer Dividend and Price
Compensation would be financed by consumer credits
issued from outside the industrial costing system. They
would substitute for the billions of dollars of money currently
created as consumer debt via bank loans. Unlike the
vast amounts of money created as loans by the banking
system as exponentially expanding debt, the Social
Credit consumption credits, not
Continued on page 17
accounted as debt, would create no new financial costs
and would be available to liquidate the earlier debts of
industry contracted as bank loans to initiate the processes
of production.
What Douglas
advocated was the conferring upon each
individual citizen,
in effect, of an increasing and inalienable
beneficial share in the communal capital in the form of
increased purchasing power – so as to establish a condition
wherein all citizens might enjoy increasing economic
security “wherein none could make them afraid.”
Social
Credit is not designed to stimulate consumption, as
such, but rather to allow citizens to claim, dynamically and
without incurring debt as a mortgage on their futures,
what they choose willingly to produce within the context of
free association.
They will no
longer be required to produce additional goods,
increasingly
superfluous and destructive. Rather than being
impelled into increasingly frenetic pseudo-economic activity,
citizens can be expected to opt for increasing leisure in the
context of a civilized cultural milieu. The object is a genuine
and balanced state of freedom, abundance and leisure.
This is in
contradistinction to the present orthodox financial,
and, indeed communist, socialist and fascist, tyrannical
state policy of “full-employment”– a policy the results of
which Douglas called “the tragedy of human effort.”
Wallace M. Klinck
Sherwood Park, Alberta
Edmonton
Senior
#200, 10621 - 100 Ave.
Edmonton, AB T5J 0B3
(780) 425-1185
(780) 429-1610
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