for money to pay its debts, including compound interest. Much of this type of debt the banks create can never be paid back by developing countries and the interest payments alone have contributed towards hunger and starvation. It ' s time all of this debt was cancelled.
' People go hungry because crops are sold to other countries to pay for interest bearing debts '
Quantitative easing
Developing world debt can easily be cancelled without any major impact to other countries, by simply removing it in the same way many of the banks created it in the first place. Hard to believe? Quantitative easing( a form of social credit) has been used by many developed countries in the world, most recently the US and Japan. It was used by these countries to mitigate against bankruptcy. It is currently only done in a limited form in developed nations, to service debts or finance government spending when interest rates are low, as a last resort. There is no reason at all why quantitative easing cannot be used to remove developing world debt completely.
Social credit
Once this debt has been removed, the country in question still needs money to build or rebuild its infrastructure. Social credit policies would need to be put in place. Many of these nations are rich in mineral assets and the ownership of these assets must be given back by ending foreign ownership. Modern farming methods must be made available. Electricity, clean water, hospitals, roads and schools which many of us take for granted should be made available. With the help of social credit principles, these nations can be poverty free and self sufficient.
Social credit is a process that allows the wealth of a nation be shared among its people. This wealth can be presented by the creation of new money and dividends( on the basis of real wealth, not debt). Under social credit a country may create debt-free money on the basis of its real physical wealth such as oil, minerals and land, and on its ability to create new physical wealth in areas such as farming, building, and industry. Social credit then, when used wisely, can turn a debt-ridden nation into a vibrant wealthy nation free of debt. While ideally a social credit model should introduced at a national level, it could be tested in small communities first.
' Social credit was used in Guernsey to successfully bring it from the brink of bankruptcy to becoming a healthy economy '
A National People’ s Bank would be set up initially in the country to replace all the banks, with all past debt, paid off by the creation of new money using the same process banks use today to create money. Money from now on should be introduced on the basis of real physical wealth( a primary goal all nations should practice). A National Credit Office would be set up to ensure a correct money supply in the economy, by issuing or withdrawing of money in accordance with the country ' s production capacity and demand. A national dividend to the population could also be used to expand the money supply, very much like stimulus packages used lately to stimulate economies. Businesses and individuals could borrow money from the People ' s Bank on certain terms. Over time infrastructure, such as hospitals, will develop leading to poverty being diminished.
Social credit has been used many times throughout history. One of those that stand out the most is the Guernsey Market House Scheme( a financial experiment), where social credit was used
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