OLIVER HEYDORN continues to explain the social credit monetary system (social credit, despite the name, is not socialism):

[W]e need not live under a 100% debt-money system; that all money must be issued as a debt or as a debt-equivalent is a human convention and can be changed. There is an alternative. Some portion of the money supply, the right proportion, could and should be created and issued as ‘debt-free’ credit.

It was C.H. Douglas who proposed that the ‘more money’ that the economy needs in the form of consumer purchasing power in order to balance the price system should be injected periodically as a ‘debt-free’ input. Instead of governments, consumers, and businesses spending more than they receive as a means of bridging the gap and borrowing the difference from the banking system (thus unbalancing their budgets), the increase in the volume of consumer buying power that the economy requires for equilibrium could be created by a National Credit Authority and issued to or on behalf of consumers as a kind of ‘gift’. The direct payment would come in the form of a National Dividend and would be distributed independently of employment status. This would allow people to enjoy more and more leisure time; a reality that the physical economy can no doubt afford as we no longer require the work of every able-bodied adult to make the economic machine function adequately enough so as to vanquish scarcity. The indirect payment would come in the form of a compensated price discount at the retail counter.

The benefits of such an adjustment to our financial infrastructure are countless. Business and government could – apart from any expansion required by independent consumer demand – finally run balanced budgets, and consumers, considered as an aggregate, would never be put into the position of having to spend more money than they had received.

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