In April 1942 The Social Crediter reproduced this quote from The New York Times about the mistake that was the resumption of finance as usual following the First World War:
This reversion to the traditional money criterion as a limit on production and employment for which the real resources of organisation, labour, and capital equipment were available in plenty was possibly the master blunder, from which have flowed in inevitable sequence all the frustrations and miseries of the past 20 years. We are not likely to solve our post-war problems unless we make up our minds to treat money as a bookkeeping technique to facilitate the production and exchange of goods and services, not as something the supply of which sets a fixed upper limit to our productive activities. It plays much the same part in economic life as railway tickets play in transportation. It is dishonesty, akin to inflation, to issue tickets for more trains than can be run. It is absurd to cut down the railway service because the ticket office has run short of tickets.1
The publication of Social Credit ideas in The New York Times indicates an understanding amongst the thinking public at that time that the worst events of the 20th Century were largely attributable to a dysfunctional (or fully functional, depending on your perspective) financial system. A condition which sees decision-making authority vested in the money power via the mechanism of debt.
Such arrangements neuter political democracy. The purpose of the ballot-box routine is the installation of compromised sycophants to titular positions taking orders from above, not below. Sensible people observing the political circus cannot help but conclude, as Frank Zappa did, that “politics is the entertainment division of the military-industrial complex.” I would add finance to the nexus.
An increasing number of the thinking part of society have had it with the lies and manipulation so obvious in the mainstream media, which, taken on ratings, is rapidly ceasing to be mainstream. Ironically ‘the pandemic’, though costly, did more to accelerate the cause of truth than anything else in recent times.
Contributing to the declining influence of corporate media is its wholesale commitment to the promotion of incoherent causes. Two of the most prominent being the ‘oppression’ of the alphabet people (LGBTQetc.) and the carbon obsession. The latter, an interesting amalgam of materialism and the left’s proclivity for self-loathing.
All this means that finally an influential part of society is once again taking a discriminating approach to its sources. Pitfalls abound, but with care a clear enough view of the battleground can be seen to allow for an organised and effective resistance.
A large part of this clear view has to do with finance. Public figures of goodwill are trying to come to grips with the facts of the matter which, for whatever reason, have always proved difficult. We are some distance yet from seeing our story in The New York Times, but I shall reiterate the two essential points:
a. Costs in the production system are built up faster than incomes are distributed to consumers to buy goods, which means there is a shortage of buying power in the hands of consumers.
b. This shortage of consumer buying power leads to increasing debt owed to a private banking monopoly which leverages its power over the money supply to determine policy.
It is this last point, the control of policy, which is the fundamental issue. Drawing again on what was originally Douglas’ railway analogy – it makes no sense to have the ticket office dictating the supply or demand of transportation, not to mention foreign policy, social justice, energy policy or anything else. Yet this is the situation in which we find ourselves.
Considering all this there is reason for cautious optimism. The scale of the pushback is difficult to gauge but every day the ranks of objectors grow. You can be sure that the megalomaniacs are preparing a countermove to head off the establishment of anything which threatens the primary instrument for centralising power, control of the money supply.
There is reason to believe that the process of financialisation of everything via the debt machine is running out of steam. To some extent debt servicing requires increased turnover in the real economy and with liabilities in the trillions there is diminishing room for other things.
When this process culminates in the promised ‘Great Reset’ it is vital to keep our eye on the financial ball. The rhetoric of monetary reform will be made to sound attractive but the devil, as always, is in the detail. Advice to Australian Social Crediters from the UK Secretariat references the Times quotation included at the top of this article and finishes with this:
This attack towards the sterilisation of Social Credit conceptions has already penetrated Australia in the field of monetary reform: and other developments as above are likely to follow. Your connections may be of great use in ensuring the immediate exposure of such developments, the snag in which is usually obvious enough. There is invariably some item which involves control: or the provision by some of what they think others ought to have: and always the avoidance of Douglas’ definition of freedom—”the ability to choose or refuse alternatives as they arise”—for in that statement lies the damnation of all dictators.2
Something is happening. Waking up is a quiet undertaking, so it’s difficult to say how widespread it is and who are just now sitting up and looking around. To those who have carried this message thus far it may be that the ground in which we sow is more fertile than what was there until quite recently.
1. The New York Times in The Social Creditor 04.05.1942, The Times Stoops. Available at: https://socialcredit.com.au/The%20Social%20Crediter/Volume%208/The%20Social%20Crediter%20Vol%208%20No%204%20April%204%201942.pdf. Retrieved: 28.01.2024
2. Advice to Australian Social Crediters. 20.11.1942. The New Times Vol. 8, No. 46. Available at: https://socialcredit.com.au/uploads/1994863529.pdf. Retrieved: 28.01.2024