What is truth?

Archive for October, 2012

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Social Credit

By Christopher M. Quigley B.Sc., M.M.I.I. Grad., M.A.
“Banking and credit are too important a business for citizens and politicians to be ignorant of. Upon its fair and equitable administration rests the very existence and future of our society”.
Every society has its orthodoxy. But there comes a time when the “accepted  view” no longer functions. When this occurs it is time for change. The  movement of stars told Galileo that the earth centred Universe was  wrong. The relative inner stability of two moving trains told Einstein  that Newton and Euclid were wrong. The current Sub-Prime credit crisis  is an indication that the orthodox concept of banking and credit is  wrong.
This is not the first time that the failings of the  accepted “credit concept” were identified as being erroneous in an  increasingly technologically efficient world. The great depression of  1929 also gave the same signal. However instead of dealing with the  cause only the symptoms were addressed. Accordingly, another world war  ensued and through “sticking plaster” policy modifications we bungled on for another 80 years. Now, once again, the dormant “error” has become  virulent and threatens the whole.

The disease within the economic body  was diagnosed successfully in the early 1900’s and a solution was  prescribed but ignored. The same remedy will work today but its  successful application requires a “Copernican” change in economic  conceptional modalities. The world was not ready then. Is it ready now?  The cure is called: “Social Credit”.
Due to developments in  technology and technique the age old problems of production and scarcity have been all but solved, the issue now is one of distribution. Money  creates effective demand and orthodox banking and accounting rules makes money scarce. This state of affairs if allowed to continue will result  in:
1. Surplus production due to efficiencies
2. Consequent unemployment and under-employment resulting in effective demand destruction
3. Poverty due to lack of purchasing power
4. Redundant industrial machinery
5. Consequent cut-throat competition
6. Disappearance of industrial profits
7. Consequent business bankruptcy and depression
8. Aggressive competition for foreign markets
9. Consequent international friction and war
In order to prevent the above constantly recurring, as in 1929 and now  with the sub-prime crisis, it is necessary to change our orthodox view  of economics. WE MUST MOVE FROM AN OUT-DATED MINDSET. This does not  require a revolution in society it simply requires a revolution in our  consciousness. However the elite who control the ownership of the  “orthodox” credit myth will not allow acceptance of this alternative  knowledge because to do so will weaken their system of management and  domination. However truth is an amazing thing. Slowly but surely, like a seed whose hibernation is over, the practicality and human goodness of  the concept of Social Credit is germinating. But it needs aware and  dedicated followers to nurture this growth.

For the current economic crisis to be finally resolved the realisation must sink in that BANKING IS NOT SIMPLY AN AVERAGE BUSINESS LIKE ANY OTHER.  On the contrary, upon its fair and equitable administration rests the  very existence and future of our society. Banking and credit are too  important a “business”  for citizens and politicians to be ignorant of.  To deal with this matter we must, to use the words of President Obama:  “up our game” or perish.
The word credit comes from the Latin  word “CREDERE”, meaning “TO BELIEVE”. The essential quality of money,  therefore, is the belief that one can get what one wants when one  possesses it; THUS MONEY IS A SOCIAL CONTRACT BASED ON TRUST AND MUTUAL  BENEFIT. Since credit is a function of money it follows, axiomatically,  that CREDIT IS A SOCIAL CONTRACT ALSO. A society cannot allow a  particular grouping to have a monopoly on the functioning of this social contract because ultimately this group could end up monopolising all  contracts. If you own the contracts you will end up owning society.

The central problem which Social Credit addresses is the negative  consequences resulting from the increasing use of capital in manufacture and distribution. This drive towards capital intensification brings  efficiency but it decreases the requirement for labour. With the loss,  or through the down-grading, of “jobs”, the trend is for higher  unemployment and/or under-employment. With under-employment there is  less purchasing power in the economy thus the true potential capacity of modernity cannot be attained because there is no effective demand,  since desire without money is meaningless in our system.
Social  Credit strives to solve this spiral of lower employment, lower wages,  recession and depression by increasing effective demand in the system by generating societal purchasing power. Purchasing capability is  increased through a social dividend and the adjustment of prices. It  also proposes that the ownership of credit reside with the society  rather than with a monopoly group.

Thus excess reserves owned by credit  institutions, over a certain minimum to allow their sustained and stable operation, are systematically issued to society. Social Credit believes in banking but does not accept monopoly ownership of credit and legal  tender. The objective of such policies are as follows:
1. Money is no longer a commodity controlled by banks
2. Credit is no longer a social contract controlled by banks
3. Boom and bust credit cycles are negated
4. Increased stable purchasing power allows for effective distribution of goods and services. This stability allows better long term decisions to be made by entrepreneurs about the  economy.
5. Increased demand for goods and services boosts an economy centred on smaller community  based businesses.
6. Corporatism diminishes
7. Unemployment and under-employment are seen as opportunities for freedom to develop since  citizens are able to function in the economic system  through receipt of social dividends. Due to a  change in the “zeitgeist” time is no longer equated to work in order to obtain legal tender.
8. Speculation diminishes due to the non availability of “commodity”  credit and a real  economy, rather than a gambling economy, flourishes.
9. Government down-sizes due to the diminished availability of monetised debt.
Many folk have attacked these objectives as idealist or socialist. They are  wrong. In fairness these objectives are based more on community than the commune. But that is the point. Social Credit strives to reaffirm the  supremacy of human association rather than abstract institutionalism.   Capitalism, under our current banking arrangements, and communism  /socialism are all “Cesarist” theories of society; they end in monopoly  ownership of everything. This monopoly results in the “state” or “core  political group” being master of the individual. As a result community  dies and corporatism thrives. The philosophy of Social Credit is the  exact opposite. It believes in the individual and it aspires to provide  the individual with as much freedom as possible. It acknowledges that  the STATE SHOULD EXIST TO SERVE THE INDIVIDUAL ; NOT THE OTHER WAY  ROUND.  Social Credit therefore rejects the dialectic materialism of  capitalism/communism/socialism; and accepts grace.

As this  sub-prime crises festers and invades the social, economic and political  body I hope that more and more like minded people will become focused,  educated and aware. There is no more important goal in life than  actively participating in the growth and development of one’s spirit,  one’s family, one’s community and one’s nation.  “Banking and credit are too important a business for citizens and politicians to be ignorant  of. To deal with this matter we must, to repeat, up our game or perish”.
“Economic Democracy” Major C. H. Douglas Bloomfield books
“Aladdin’s Lamp: The Wealth of the American People” Gorham Munson Creative Age Press: New York
New Zealand Government’s Monetary Committee Notes of Evidence and Correspondence Wellington,  24th. February 1934

‘The Grip of Death’

By Michael Rowbotham

“The financial system used by all national economies worldwide is actually founded upon debt. To be direct and precise, modern money is created in parallel with debt…

The creation and supply of money is now left almost entirely to banks and other lending institutions. Most people imagine that if they borrow from a bank, they are borrowing other people’s money. In fact, when banks and building societies make any loan, they create new money. Money loaned by a bank is not a loan of pre-existent money; money loaned by a bank is additional money created. The stream of money generated by people, businesses and governments constantly borrowing from banks and other lending institutions is relied upon to supply the economy as a whole. Thus the supply of money depends upon people going into debt, and the level of debt within an economy is no more than a measure of the amount of money that has been created.”




Close shaves are called for

By Shane Ross:

MINISTER for Health James Reilly has one. NTMA boss John Corrigan has one

A Mercedes?

Union boss David Begg has one. Pensions supremo Brendan Kennedy has one.

A chateau on the Loire?

Siptu chief Jack O’Connor has one.

You’ve guessed it.

Bushy beards were once the preserve of the bourgeois brethren of the revolution. Today they are sprouting in the ranks of the chief executives of the semi-states. The super quangos are beginning to demand that no one worthy of the top job reveals the colour of his chin……………….

full article at source: http://www.independent.ie/opinion/columnists/shane-ross/shane-ross-close-shaves-are-called-for-3276633.html

God forbid, chinless wonders could soon become de rigueur in the private sector.

Last week were you startled to see yet another man with a beard on the platform, presenting the results of a report into fees and charges in the pensions industry?

Ireland will enter a less invasive programme in 2014?????? (Bulls***)

A former deputy director of the IMF has warned that it’s unlikely Ireland will be in a fit state to exit it’s bailout programme next year.His comments completely contradict suggestions made by the Social Protection Minister Joan Burton who said yesterday that Ireland is well-placed to exit the programme sooner than expexted.Donal Donovan, now a member of the Fiscal Advisory Council, has said it’s highly unlikely that we’ll see the back of the Troika in such a short period of time.He says it’s much more likely that Ireland will enter a less invasive programme in 2014 to make the bailout exit smoother.


This is of course a lode of bull. This country is the 2nd most indebted country in the world! We haven’t a hope in hell of ever paying back. The government is just winging it in the meantime in the hope of getting some crumbs that might fall from the table when the Greeks eventually Default!

We are all taped out Kenny ,not one red cent more will you get from me!

Our total national income is nowhere near enough to even pay the interest on the debts our government have taken on! With 35%of out tax take just going on interest payments this is just not sustainable. I have published this graph on a number of times on this blog and I would ask you all to copy it and send it to your local TD,s and ask them to justify why we are still trying to please our real masters in Berlin. We must stop believing the absolute crap Kenny and Noonan are spreading we will not get any relief from the Berlin mafia as we are paying our dues and that is all they want us to do .

We are been bullied and like all bullies we have fallen on our knees and we are begging for mercy and a few crumbs from our bullies table .We must get up off our knees and rid ourselves of our financial tormentors in the ECB and in Berlin. Enough is enough it s now payback time .we must fight back and first plan of action is to default. This will happen in the end in any case! These debts are not ours and we were not bailed out we bailed out the ECB and Deutsche Bank! We need patriots who will fight for the Irish Nations self interest and not puppets and collaborators like Kenny, Noonan, and Gilmore who have sold us out to the financial slave drivers in Europe!

Ireland stand up and fight back now!

Greece should now just up sticks and head for the exits and tell the rest of the bondholders get stuffed

The Slog

Major eurozone crisis as Athens denied access to Nov 16th tranche


Surprise, surprise – the meeting that the EU flatly denied would happen today just wound up. The output is the biggest bombshell to hit the eurozone in a long time: Greece is to be denied access to the next bailout tranche….unless more cuts and reforms beyond those ‘agreed’ last Sunday are forthcoming.

In what looks to me like a pretty serious case of stabbing Antonis Samaras in the front, news is breaking in Athens as I write that an anonymous EU official has confirmed the International Monetary Fund (IMF) report to the
Eurogroup Working Group (EWG) is damning about the cuts ‘agreed’ by Athens last Sunday. This is a direct quote from the document: (my emphasis)

“It is clear that Greece is off track and there is no chance they will cut the debt to 120…

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Autumn Leaves

The melancholy days have come,  Which Mr. Bryant sings,Of wailing winds and naked woods,  And other cheerful things.


The robin from the glen has flown,  And there Matilda J.Now roams in quest of autumn leaves  To press and put away.


Leaves in the sere, to school-girls dear,  Are found where’er one looks,On hill, in vale, in wood, in field,  But mostly in my books.


If I take up my Unabridged  Some curious word to scan,Rare leaves are sped of green and red,  Or maybe black and tan.


The book of books–my Bible–now  I scarcely dare to touch,Lest it bring grief to some rare leaf–  Ash, maple, oak, or such.


And if upon the lounge I lie  To read while I repose,Lo! arid leaves in dusty sheaves  Sift down upon my clothes.


“No more,” I swear in empty air,  But straight invoke a broom,And soon St. Bridget comes and sweeps  The rubbish from the room.


O autumn leaves, rare autumn leaves,  So lovely out-of-doors,Strew the wild wood (you could or should),  But muss not Christian floors!


Too late I know a solemn truth  I did suspect before:These leaves that autumn branches bear  Are an autumnal bore.


Charles H. Webb

Everlast What Its Like


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