From the same process as today, creation by the banking system. But it will first be issued by the Reserve Bank for the benefit of the community, not by private institutions claiming it as their own. Money for essential non profit, national & community projects, such as roads, hospitals, schools, power saving, water and sewage systems, will be funded in the first place with an interest free overdraft from our Reserve Bank.
Practically all money is now created by the banking system. Notes and coins only represent under two 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: The overdraft to be repaid over the expected lifetime of the asset by way of rates or taxes. 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 overdraft facility;
The project must meet environmental conditions and is also subject to the availability to resources & manpower.
