HELEN KMERA writes at the website of the Clifford Hugh Douglas Institute:

Money is a social instrument and medium of exchange that should be managed by society in the public interest. Clifford Hugh Douglas argued that issuing a Dividend to each person sufficient to have a decent living was justified based on the legacy each of us inherits at birth. The Douglas Social Credit argument is that the earth, with its abundant natural resources, and the accrued know-how of technological advancements made since the discovery of the wheel, rightly belongs to each member of society.  We have a tremendous legacy that forms the natural foundation of wealth.  In a just financial system, money, Financial Credit as it were, would simply reflect this foundation, this Real Credit, as he called it.

Governments, as trustees of society, would exercise their authority to create money for the common good and distribute a Dividend, sufficient to afford basic needs, to each citizen.  Society can and should reclaim its authority to issue and manage its own money supply without recourse to private banks which currently enjoy a monopoly on creating money.

With financial reform, we could monetize Canada’s [and America’s] natural wealth and productive capacity and issue a Dividend, a form of [Universal Basic Income], to each person without conditions. There is no reason why society could not directly fund infrastructure, issue loans to business and industry AND fund a Dividend distributed to each citizen.  Indeed, there is every reason to pursue such financial reform.

Please follow and like us: