I ran across a guy tonight that discussed the “social credit” system, touted by the Michael paper out of MA, U.S. If anyone has looked at this system, I would like to hear some solid refutations.
huh?
Is this the social credit system of C.H. Douglas?
http://en.wikipedia.org/wiki/Social_Credit
I used to be into this theory. Then I came across Peter Schiff and AE. Looking back, I realize that a bunch of it is unsound quackery. But Douglas did have some good critiques of some aspects of socialism.
In the end I had trouble understanding his system, but that’s because it was lacking logic in many places.
Yes, I’m pretty sure this is the same system.
I would invite you all to check out a “social credit” project I’m loosely involved with. http://ripplexchange.spruz.com/
Here is a refutation by G. Edward Griffin: What’s Wrong With Money Based on Social Credit?
He writes:
“Fiat money remains fiat money regardless of the formulas used to determine its quantity and distribution. Social credit systems are designed by men according to formulas drafted by men and enforced by men – all of which means the system is not fixed by supply and demand but by edict – and that is not fundamentally different from the present system. Eventually, if the rules for money creation CAN be changed, they WILL be changed to the advantage of those with the power to change them and to the disadvantage of everyone else.”