Social Credit Views

     If the inflation we are witnessing is cost-push, instead of demand-pull, or insofar as it is cost-push, there is another way of dealing with the problem which governments and their central banks should seriously consider: compensated price discounts. Instead of increasing wages across the board (which will only further increase prices), the same amount of money required for the wage increases could be spent on reducing prices through a universally applied discount (a kind of reverse sales tax). Retailers would be compensated to the extent of the discount (enabling them to meet their costs in full), while consumers would see the purchasing power of their current wages, savings, etc., correspondingly increased. The cost-push inflation would be neutralized and everyone would benefit.

    Now, if we can agree that inflation is a bad thing and that we need to address it, i.e., to neutralise it, it is likewise crucial that we can accurately discern what it is, in fact, that is causing the inflation. For there are two basic forms that inflation may take: 1) demand-pull and 2) cost-push. Just as in medicine, successful treatment most likely presupposes a correct diagnosis.

    The truckers have given us new hope, let us use the social energy which they have generated to achieve what otherwise would have been impossible: a constitutional reboot which will make Canada as financially and politically independent of globalist interference as possible.

While there are significant differences between Modern Monetary Theory (MMT) and Douglas Social Credit, Professor Kelton’s talk allows us to turn our attention, for a change, on some of the points of commonality.

In the last twenty years, a local alternative currency model referred to as “the Unity Dollar” has been trialled in a few towns in Eastern Canada. While these experiments ran, they achieved some positive results in terms of easing the economic burden of participants alongside the provision of a few important lessons for future local currency advocates. Given the present economic and political climate, with ever-tightening covid restrictions/pressures and the looming threat of a “Great Reset”, the time has come to seriously consider locally based alternatives to the conventional financial grid. The following text, which was recently prepared to explain the Unity Dollar project to Canadians, is nevertheless accessible to all people of good will the world over. The specific name that might be given to a local alternative currency based on this idea of a “universal coupon” is, of course, changeable and, as with many of the more minor details of the project, can be adapted to suit time and place, as well as local cultures and conditions.