Wallace Klinck of Canada insists we focus on the real issue: “The significant thing is not simply that people should understand that banks create and destroy credit (which functions as "money"). The critical issue is who owns this credit, and how its current issue by a monopoly solely as debt, constitutes a usurpation of that ownership of the nation's credit by the banking system. Wallace observes “Knowing that banks create and destroy money in itself is of little help, inasmuch, as this offers no effective solution to the financial problem of a growing inherent deficiency of purchasing power."
"People tend either to be incredulous about the creation of money by banking institutions, or they are unable or unwilling to discern anything undesirable in the process that requires modification. If they are concerned, this often takes the form of demands for the transferring of the function of credit creation to the state at zero or low rates of interest. This is no solution to the problem which Social Credit identifies as a non-self-liquidating price system and would merely further centralise power in the hands of the State”.
"In a modern economy, with less and less human labour required in the productive processes, money (or ‘credit’) should act as a means of distributing the production of the Machine – wages, salaries and dividends won’t do it these days. And to whom does this ‘credit’ belong? Why, the credit should now reside with the consuming public – it is a social credit! A cultural heritage has been accumulating for centuries – and belongs to the people as a whole. The financial system is simply the means by which this inheritance is distributed – to all."

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