Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.2 9/5/84; site uwmacc.UUCP Path: utzoo!linus!philabs!prls!amdimage!amdcad!lll-crg!gymble!umcp-cs!seismo!uwvax!uwmacc!myers From: myers@uwmacc.UUCP (Latitudinarian Lobster) Newsgroups: net.politics Subject: Re: What Social Credit is. Message-ID: <1666@uwmacc.UUCP> Date: Thu, 7-Nov-85 12:03:30 EST Article-I.D.: uwmacc.1666 Posted: Thu Nov 7 12:03:30 1985 Date-Received: Sun, 10-Nov-85 15:32:19 EST References: <787@cybvax0.UUCP> <82@ubc-cs.UUCP> <530@calgary.UUCP> Organization: Ken Kopp's Fresh Seafood Tank Lines: 26 > > >The Social Credit they advocate consists largely of the government > > >minting money and giving it to citizens, instead of taxing anyone. > > >Sort of a trickle-up scheme. Please correct me if I've misunderstood. > > > > I *think* that that is basically what Social Credit is about. > > Social Credit is a ideology / economic theory developed by a certain > Major Douglas in the early part of this century, and popularized during > the Depression, especially in Alberta. > > The theory as I understand it is that the economy has a continually > increasing need for a medium of exchange, which, if not satisfied, leads > to a depression. Social credit advocates printing of new money to satisfy > this need and its distribution to the populace (and also maybe using it > to finance the government, I think). They don't like the present system of > allowing the private banking system and central bank to create money. > Anyone interested in this topic might want to research the socialist government of the city of Milwaukee, Wisconsin during the depression. A Milwaukean that I know once related a story to me about a meeting he had with the mayor of that time, who talked alot about their experience with ``Milwaukee Money'', which after a stormy beginning grew to become acceptable currency anywhere in the city. Sorry I don't have more info. jeff m