Where are you going to get the money from?

 

Our money supply is created by the commercial banks when they issue loans (they don't lend money people have deposited with them). Under a Social Credit government the Reserve Bank would issue it at no cost for the benefit of the community.

 

Money for essential non profit, national and community projects, such as roads, hospitals, schools, power saving, water and sewage systems, will  be funded interest free from the government owned Reserve Bank. This is the basis of our Community Credit Program.

  

Practically all money is now created by the banking system. Notes and coins represent only about 1.67 percent of the total. Under Social Credit, new money would be issued by the Reserve Bank debt free instead  of by the commercial banks as a debt. The amount in circulation will be  monitored to ensure the industrial capacity and the ingenuity of the workforce is fully utilized for the benefit of the community as a whole.  

  

Comments:

Funds for local bodies would be repaid over the expected lifetime of the asset by way  of rates. If one million dollars is borrowed then one million  dollars is repaid without the burden of paying for the compounding  effects of interest.
A small service charge will apply to cover the cost of the loan facility.
Projects would need to meet environmental conditions and be subject to the availability to resources and manpower.

Authorised by Anne Leitch, Secretary, 42 Reyburn House Lane, Whangarei

secretary@socialcredit.nz

Copyright Social Credit Party 2019