Du régime de dettes à la Prospérité By J-Crate .L

Summary of acquired notions

Clifford Hugh Douglas

Clifford Hugh Douglas

At this point, let us pause for a moment to summarize what we have just said about the monetary system and draw conclusions.

Money is not wealth. Money and wealth are two separate and distinct things.

Our modern money system has gone beyond the first phase, metal coins, and has become an accounting system.

Most of our currency - more than 90 percent - is created and destroyed by the accounting of a private banking system.

The currency is born as a debt loaned at interest by the private banking system. The economic blood circulating in the veins of business is blood made of debt money.

The first conclusion that emerges from all this is that a monetary system built on debt and interest can only work in the long run by creating more and more debt . This is precisely what happened. The facts confirm the reasoning.

The remark is worth it, this curious mechanism - the interest - is exclusive to the finances. There is no parallel in nature. It is an invention of man, but not his happiest, certainly!

The second conclusion, perhaps less easy to discern, is that, under this system, an insufficiency of money becomes inevitable, making the purchase of goods more and more difficult. Two fundamental reasons motivate this last conclusion. We will expose them starting with the simplest.