Quote Originally Posted by Rajiv View Post
Monetary Reform

What ever reform we go for, we must not use fiat money ever again from the banks or governments. Does that mean we must go back to using some precious metal or other like gold as a standard instead? I think not.

When money is created it should only be created by our governments. This money should only be created on the basis of real wealth not debt. A country can create debt free money on the basis of its real physical wealth such as oil, minerals and land and its ability to create new physical wealth in areas such as farming, building and industry.

If we do not go down this road we will always have problems. Every country in the world trades for goods of some sort whether it is a commodity or a finished good. We do not trade money for money. The ability of each nation to create any amount of money from nothing makes a farce of this. It is the exact reason why the gold standard was used in the first place to control the amount created to avoid hyper inflation and to put a value on money

Of course we need to remove the international banks right to fraudulently create money from nothing and create spiral debt. I do not have to explain this to you guys on this forum.

Of all the reforms I have seen put forward for monetary reform, only one covers what I have written so far. Itís called Social Credit It covers all the above and more. Using social credit the supply of money is kept in check and in line with production of goods and services. An Independent National Credit Office would have the job of ensuring the nationís money supply is correct by issuing or withdrawing money as necessary in accordance with the countryís production capacity and demand. The banks will no longer have control of the purse strings of government.

The government can also expand the money supply when needed by a national dividend to the population. It is very much like the stimulus packages used lately to stimulate economies but this is issued without any debt. A national dividend would also have an important job to compensate those affected by new production methods. As technology and new production methods expand less and less labour would be needed.

Because production is no longer the result of labour only, it is a farce to believe that production can be distributed only through the reward of labour. It is the fruit of progress and not labour which is providing these great achievements. There for we must look at this in a different light. As new production methods expand, less labour is required resulting in a rising number of permanently unemployed people.

It would also be true that working hours of the work force as a whole is reducing. If people only got paid by the hours they worked their wages would fall. To recognise this progress as a national heritage for everyone, a dividend would be used to supplement these lost wages. This heritage should be shared and not lost in the hands of a few. As I said before a dividend could also be issued to the whole population when the money supply needs increasing.

This is the basis that I understand as social credit and believe it would be a great model for the world to use as monetary reform. I have a website which goes a bit further on this for those interested in the link below.