Science of the Social Credit Measured in Terms of Human Satisfaction
Christian based service movement warning about threats to rights and freedom irrespective of the label, Science of the Social Credit Measured in Terms of Human Satisfaction

"All that is necessary for the triumph of evil is that good men do nothing"
Edmund Burke

Science of the Social Credit Measured in Terms of Human Satisfaction
May 2 1975. Thought for the Week: "In 1929 the central bankers initiated a general contraction of credit - what is now known as a 'credit-squeeze'; but at that time, when it was not officially admitted that the volume of money depended on the policy of the banks (the trading banks of course being dependent on the policy of the central bank), the consequences of the credit contraction - the Great Depression - were variously attributed by obliging 'economists' to falls in prices, sun-spots, and other remote causes. The Great Depression, however, was an act of high policy, designed to provide suitable psychological preparation for a major change in the economic system which would preserve and consolidate the power of those in international control of the financial system."
B. W. Monahan, in Finance and Communism.


We have warned on a number of occasions that the Whitlam Government's Racial Discrimination Bill (1975) is one of the most totalitarian pieces of legislation ever introduced into the Federal Parliament. As Mr. Al Grassby, the Federal Government's Special Adviser on Community Relations, admits that he, and Miss Junie Morosi, played a part in the drafting of this legislation, it is not surprising that Mr. Grassby has said that 'he would hold a full investigation into racist organizations after the Government's Racial Discrimination Bill became law (vide Sunday Sun Brisbane, March 30th).
The same report said that Mr. Grassby believed that some of the 'racist' organizations were financed from outside Australia mentioning Rhodesia.

Rejected by the Australian electors, Mr. Grassby looks forward to operating a Gestapo-type investigation and persecution system against any Australians who dare to express any critical views concerning the subject of bringing large numbers of non-Europeans into Australia. If Israeli General Dayan were living in Australia, he would also be liable for investigation by Mr. Grassby. Addressing a conference of Jewish leaders in South Africa in October of last year, General Dayan urged a much greater immigration of Jews from Russia to Israel, stressing that this was necessary to counterbalance 'immigration of Oriental Jews'. Dayan added that 'one of the real problems facing Israel is that three out of every five immigrants are Oriental! What we have to try to do now is to be very attentive to try to help more newcomers from the Western countries! We mention General Dayan's 'racism' because we note with interest that the subject of Israel, Jews, and 'anti-semitism', have been injected into the Canberra debate on the Racial Discrimination Bill.

Speaking in the debate on April 5th, Mr. Clayton Labor, M.H.R. for Isaacs, Victoria, left no doubt that he welcomed the legislation as a means of attempting to silence the Australian League of Rights. Mr. Clayton referred to Mr. Eric Butler as a "raving anti-semitic megalomaniac". Mr. Ralph Hunt, Country Party M.H.R. for Gwydir, N.S.W., was charged with "having avoided disassociating himself from the League of Rights". Mr. John McLeay, Liberal M.H.R. Boothby, S.A., also came under attack. He has sung the praises of "that traitor, Smith". Mr. Innes, Labor M.H.R., Victoria, charged, "there is racial discrimination flowing through the community. We have to come to grips with it."

As discrimination is a law of life in all fields, attempts to stop it by legislation can only lead towards the Police State. Politicians who keep raising the bogey of National Socialism in Australia are in fact attempting to create the National Socialist State. In an abject "personal explanation" on April 10th, Mr. Hunt equated the League of Rights with the Communist Party. He said: "I want to make it clear now that I neither support the League of Rights and its extremist views, nor the Communist Party."

The totalitarian philosophy of many Labor Members was further demonstrated in the address by Mr. Barry Cohen, M.H.R., Robertson, N.S.W. at Canberra on April 8th. After making the ridiculous statement that legislation that outlaws racial discrimination has had some effect in countries where it exists". Mr. Barry Cohen continued: "I would like to point out the sort of undesirable people that will have their actions curtailed by legislation like this. We have all heard of Mr. Eric Butler. I doubt whether there is a more despicable type in our society today. The garbage that Mr. Butler and his confreres push out through their bookshops "racist literature of the very worst type "will be eliminated. It will not be possible to purchase the literature, and he will not be able to poison the minds of young and old Australians. We will see the end of these vicious, nasty, immigration groups which took such a role in the last election campaign in the electorate of Riverina...Under this legislation such groups will be nailed, and they will be fined, or action of a worse kind will be taken if they continue to push this sort of vicious, nasty literature."

Our first reaction to reading Mr. Barry Cohen's outburst was to jump to our feet and shout "Heil Hitler". Mr. Cohen and his colleagues also support the principle of book burning. They are openly showing their totalitarian teeth. Mr. Barry Cohen said, "Australia has an unfortunate history of racism. The White Australia policy is a blot on all of us". The Cohens of the Federal Parliament are smearing those farsighted Australians who adopted an immigration policy, which enabled the young Australian nation to grow without the racial frictions, which have been such a curse in other nations.

It is ironic that while Mr. Eric Butler, National Director of the Australian League of Rights, was being smeared by the National Socialists in Canberra, he was travelling to Brazil to take part in the 1975 World Anti-Communist Conference, where representatives of a large number of nations, men and women of different racial and cultural backgrounds, are working on one of the world's real problems - the growing threat of international Communism. Mr. Butler is highly respected in this type of distinguished company, where it is recognised that he stands for freedom, with personal responsibility for all individuals irrespective of the colour of their skins. Could it be mere coincidence that the National Socialist's Racial Discrimination Bill has the strong support of the Australian Communist movement?

Mr. Jeremy Lee reports

"The inflationary holocaust facing Australia is taking shape before our eyes. First of all, the deficit introduced by Dr. Cairns is about $3,300 million, which the starry-eyed optimists hope will be reduced to $2,300 by June. A budget deficit is, to put it simply, government spending over and above the sum received through normal revenue - taxation, business undertakings, etc. Where does the money come from? Quite simply, it is created - and tacked on to the nation's national debt, to be repaid out of future taxation revenue.

In the case of Dr. Cairn's deficit, economist Alan Wood, writing in "The National Times" (April 14-19, 1975) described it thus: "At present the deficit is being financed virtually through the printing presses in the form of treasury note sales (largely to the banking sector where they go straight into the lending base) and the use of cash balances with the Reserve Bank!

How can Dr. Cairns reduce the deficit, and at the same time fulfill the commitments already made by the Whitlam Government? Quite apart from the multitude of welfare hand-out schemes to the unemployed, and the host of Urban, Australian Assistance, Pension, Grants Commission and other planning schemes already in operation, the Government is already committed to the following items of expenditure for the coming year: Medibank….. $1,408 million Increased education grants …..$400 million National Compensation Scheme…..$400 million -making a nice round total of $2,200 million additional expenditure on top of this year's bill, which is already $3,300 more than total revenue. Rather than see either taxation cuts, or the deficit paid up, the probability is that taxation will be savagely increased.

The National Times (April 21-26, 1975) in its leading article, headed "Huge Tax Slug", gives details of the latest Treasury Budget estimates, which show that, without any alteration of the tax-scales, taxation revenue, as a result of this years inflation, will rise almost 40%, or from $7,000 to $10,000 million. Government revenue will increase to about $19,500 million, which will be $4,000 million less than estimated expenditure well over $23,000 million. So the deficit, instead of being reduced, will almost double.

The Treasury, which apparently does not approve of the deficit, believes that the taxation increases are insufficient, and should be boosted by a further 7%. Warnings from the experts are now coming thick and fast. The Sydney Morning Herald, (15/4/75) reported Professor W. Hogan, head of the economic faculty at Sydney University as warning: "The Government's wage policy is a shambles and high inflation rates can be expected to continue." In the same issue, Mr. R. B. Prowse, Assistant General Manager of the Bank of New South Wales, warned of "inflation not yet known in Australia." The Sydney Morning Herald (21/4/75) carried a strong warning from Professor H. W. Arndt, (a member of the A.L.P.) and Professor of Economics at the Australian National University, that inflation could be between 30%-40% in the coming year, and that Federal Government action was needed to prevent Australia having one of the most rapidly inflating economies in the Western World. (Two Information Bulletins, "Dr. Cairns' Deficit" and "The Great Taxation Rip-Off" set out the true position in greater detail. They are available from The Institute of Economic Democracy, P.O. Kingstown, via Armidale, 2350 N.S.W. - Price 5 for 30 cents posted).


In our issue of April 11th, Mr. Eric Butler, writing from New Zealand, mentioned the book - "Sinners at the Stadium", by Robert Fenton. This book is a close study of the campaign directed towards preventing the 1975 South African Rugby tour of New Zealand. Supporters are advised to re-read this article to refresh their memories. We have received an advance consignment of this book. The price is $6.38 post free from G.P.O. Box 1052J, Melb. 3001.


The Common Market issue is now white-hot in Britain. The Australian (April 24th) carries a report from Brussels, headed "Market Union Has Failed: Experts". An expert committee, headed by a former Market vice-President, now believes that there is no hope of economic and monetary union of member countries taking place now. We were telling them that nearly two decades ago.

We have commented recently, more than once, on the situation in Portuguese (East) Timor. We have drawn attention to the ominous military implications for Australia of Communist penetration into this region just off our own shores. We have drawn attention to Communist interest in the region, highlighted by the Canberra campaign to "warn off" Indonesia, in case Indonesia decided to preempt any Communist take-over by an invasion. Not that more than a company of troops would be needed for the job. We have drawn attention to a Communist protest rally against Indonesian occupation of East Timor, in Sydney at the time of the recent meeting between President Suharto and Mr. Whitlam in Townsville. All this is very strong evidence. Now we have an advertisement in The Age (Melbourne) of April 24th. We are told of a Public Meeting -"To Warn Australians of an Indonesian Invasion of East Timor". The speakers (three of them) have all recently visited East Timor. First is Senator Arthur Gietzelt, (N.S.W.) who was a member of a parliamentary delegation. Second is Mr. Jim Roulston, State President of the Australian Metal Workers Union and Senior Vice-President of the Victorian Branch of the A.L.P., and third is Ms. Helen Hill, post graduate politics student (surprise, surprise!) Now for the sponsor. Any guesses? Right! "The Trade Union Peace and Solidarity Committee" and (our old, old friend) "The Congress for International Co-operation and Disarmament": a hoary Communist front. Incidentally, the Australian Metal Workers' Union has as its Victorian Secretary, Mr. John Halfpenny, and as its Assistant National Secretary Mr. Laurie Carmichael; two of the most prominent Communist industrial agitators in Australia. We believe that Laurie Carmichael is the senior Communist industrial strategist in Australia. And he is no amateur. He would chew up most of the politicians in Canberra, and spit out the pips! When Robert Hawke has served his purpose, it will be Laurie Carmichael who will send him to the guillotine.

Amnesty International is a civic rights organization, which has been agitating on behalf of political prisoners in various countries of the world. From our own observations the political prisoners have often been communists and other subversives. The Russian chapter of Amnesty International has been in existence less than a year and already the K.G.B! have cracked down on it. Raids and arrests have already taken place, according to recent reports. Perhaps some of the do-gooders will receive a jolt as to the political facts of life.

The "Multiplier Myth" (or Velocity of Circulation Saga contd.)
Therefore it is almost as difficult to follow the course of a dollar through the production system, as it is to follow the course of a bucket full of water thrown into a stream. It is possible to follow the course of one particular dollar note, which will enable the exchange of a different article each time it is handled. But on each of these occasions it is substituting for a different dollar's worth of credit money. As all money is owed ultimately as a debt to a bank, the major part of every dollar a businessman receives must go in costs, either directly to the bank, to reduce his overdraft, or indirectly to the bank via the wholesaler and manufacturer. Every dollar, while it exists, may change its form from cheque to note to coin and back again, but it can finally cancel only one dollar's worth of overdraft. If it goes towards paying off the grocer's overdraft, it cannot help to pay off anyone else's. Therefore, to say that a dollar, passing through six pairs of hands has settled six dollar's worth of debt, is like saying that one plug could be used to plug six leaky buckets, by putting it into each one in turn. (concluded)