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u Seeking salary increases when labour input de- dend would at the same time satisfy papal teach-
creases (as in modern day production) changes the ing. Pope Pius XII stated: “Earth and its riches were
meaning of the word, ‘salary’. In these cases, salary created for all men.” This teaching is ignored by the
increases include what should rightly be distributed present financial system with its method of distribut-
as the Dividend (as the Dividend represents the fruits ing purchasing power.
of progress rather than labour). The fallout is that the Social Credit would thus apportion the gifts of
portion of the salary increase that should have been nature and the goods of industry to the benefit of ‘all
calculated as a Dividend is downloaded into prices, men’. Instead, the present system leaves the task to
when its distribution as a Dividend would not have the taxation system, which is rife with graft and does
had this result. not cure the disease.
Social Credit would distribute the Dividend to From birth to death, the Dividend would repre-
each person directly without a cost to industry. It sent a ‘fair share’ which would be distributed to each
would truly raise purchasing power. and every person. This share would be sufficient to at
In addition to recognizing the productive com- least ensure what is necessary for life. v
munity capital we described earlier, the Social Divi- Louis Even

Why do We Always Accuse High Finance?

Some people ask us why we always put the These reflections do not excuse those in power
blame on the financial system, pinning almost in our governments. If the financial system is more
everything on High Finance. They ask why we do powerful than governments, those in office could
not focus our attack on governments, as political at least avoid being the defenders, advocates, and
parties do, and why we criticize the system more protectors of the current system. They could, more-
than those who run the country. over, denounce this power, and proclaim their de-
The answer is quite simple. It is captured in the termination to get rid of it by a complete reorganiza-
following remarks by Clifford Hugh Douglas in the tion of the financial system, and thus gain freedom
last chapter of his book, The Monopoly of Credit: from the supervision and regulations of the Inter-
“Perhaps the first point on which to be clear is national Financiers.
that this immense, nay, almost omnipotent, power When a population and its government agrees
which is yielded by the financial organisation, and to free their economy from the present financial
which therefore must in the nature of things be system and its regulations, the next logical step is
responsible for the situation in the world today, to set up a financial system linked to realities; a fi-
has not until recently been recognised in its true nancial system that is at the service of the product-
nature.” ive capacity of the nation, and for the population,
It is ‘in the nature of things’. It is indeed clear that without worrying about what the leaders of the
present financial oligarchy might think.
the powerful can act and that the powerless cannot.
The powerful give orders, and the rest are forced to The MICHAEL Social Crediters apply them-
submit. The weak can resist the powerful, but they selves to securing an agreement between the
can neither dictate nor be served by them. There is people and their elected representatives to con-
only one solution left for the weak and powerless: vince both of the benefits and necessity of financial
that is to run away when it is possible and escape liberation. When Social Crediters denounce those
from the jurisdiction of the powerful. in office, they do not denounce them as the authors
of the present economic and social disorder, but
The financial power dominates governments as accomplices by omission; mute dogs as it were,
themselves. Most people, even Members of Parlia- because their first duty should be to ‘bark’ and then
ment, still ignore the fact that money is created out to ‘bite’.
of nothing by commercial banks. This fact was kept What we say about the ruling class also applies
hidden from them and was not taught in economic to the long list of lackeys that extends from the fi-
textbooks until recently. One can read in the Book nancial dictators all the way down to the commoner
of Hosea (4:6): “My people are destroyed from lack whose livelihood depends on blind obedience to his
of knowledge.” masters. These little slave leaders side with the fi-
The purpose of MICHAEL is to deliver this nancial tyrants, either through insane complacency,
knowledge to the people, so that they at last know by turning a blind eye, or by crass ignorance. The
the truth about the present debt-money system, latter is no longer excusable. v
and how it can be corrected. Louis Even

12 MICHAEL May/June/July 2019 www.michaeljournal.org