As all Western nations are heavy producers of produce they’d issue money to the value of their total land and production. They could probably “re-fund” their debts by pushing the issue ahead in date and gradually work it back.
“When inflation, no matter how well ‘controlled’ takes off, it takes off like a sudden rocket. And that’s it. Curtains.
Our job is to somehow keep Western powers from vanishing. They must be made to see that their cause must be strengthened before some enemy cause is espoused by their insecure and harassed populations.”
Gold would probably increase in value, but so what. It’s just a metal. You can’t eat it and today you can’t even have it.
A dollar or pound or franc that is guaranteed by commodity would be very acceptable indeed and would force governments to encourage production and help and protect those who produce instead of trying to sterilize people to reduce their population explosion.__________
This would not even wreck the banker. As he seems to have overlooked he deals in a commodity called money and if it goes, he’s gone. His “planned inflation” as recommended by Keynes is plain suicide.
Inflations go suddenly up. It is very easy to lose control. The retailer one day becomes afraid he can’t replace his stock at the distributor’s, jumps his price, the distributor jumps his. The retailer jumps his. Then seeing that money is going up to the level of wheelbarrow per loaf of bread, he refuses to sell. Barter takes over. The nation and its existing government are finished.
Several countries, notably Nationalist China, lost the whole nation this way. Their money went into a sudden inflation. From 50 sen, a postage stamp went in two weeks to 5,000 dollars and in another three weeks went to 7 million! The civil servants’ pay was not raised. That was it—communist China.
When inflation, no matter how well “controlled” takes off, it takes off like a sudden rocket. And that’s it. Curtains.__________
Our job is to somehow keep Western powers from vanishing. They must be made to see that their cause must be strengthened before some enemy cause is espoused by their insecure and harassed populations.
We aren’t some small voice in the tumult. We are several million people, we Scientologists.
Our religion is our Truth. Our prayers will be heard. Our postulates work.
Christianity tried to make man tolerant. We can make that goal if we also can make man wise.
Our churches are growing in influence.
Any attacks on us are solely the signs of the degradation and injustice of our times.
We do not want the government. We do not side with revolutionaries.
As churches we have a responsibility to reform injustice and oppression and better our society.
If any one objects to this, let him object, so long as he does not carry our world down to the decay and destruction toward which ignorance has led it for so long.
L. Ron Hubbard
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