In every University it is a constant struggle to generate sufficient subjects for PHD thesis, as every student requires something unique. We have a number of suggestions which would serve, and assist in developing understanding, or tools towards achieving, social credit. Some of the ideas are listed below, and we are open to more suggestions.

1. No Nation or State within a Nation has ever produced a National Balance Sheet. Governments have produced balance sheets which list the government’s assets and liabilities, but not the Nation’s. A National Balance Sheet would list all of those things (irrespective of who owned them) which assist in producing desired goods and services as, when and where required. This would include, inter alia, agricultural lands, plant and machinery, residential and industrial buildings, the vocational education of its people, communications infrastructure, and do so with transparency as to the basis of these valuations.

   All those things which represent claims upon these assets would constitute the National Liabilities. The main liability of a Nation is its money supply. That a Nation’s money is its liability, would inflict deep shock upon most politicians, as without a proper set of accounts (which are mandatory for Public Companies), they usually believe that the more money a country has, the richer it is. External debts are another national liability. National Balance Sheets initially, and later National Profit and Loss Accounts (Supply and Demand Accounts) are an elementary, primary and essential requirement to understanding national economic realities. Developed nations have the statistics available, but dare not do the sums.

   There are ground breaking PHD theses here.

2. The Australian Constitution gives the Commonwealth Government control over Banking “except for State Banking”. Court cases have explored the meaning of this, and it is clear that intrastate banking can, if a State Bank were carefully constructed from its inception to do so, avoid all Commonwealth regulation. It could do so whilst issuing credit to the benefit of that State. A Bill to so establish such a State Bank could be the basis of a PHD, as could the administrative procedures designed to avoid Commonwealth regulations. While the will to use such is absent from State Governments at present, the crises of the future will provide opportunity for the prepared. Further information will be available from us to those of serious intent here.

3. Amendment to the Legislation which has established and regulates Central Banks will be necessary, in many ways, as social credit is instituted. For example, the Australian Reserve Bank is not chartered to aid the distribution of goods with the least inconvenience. It is required to act to ensure “full employment”, and this irrespective of any need for it. This would hold, as the Act now stands, even if robots were 100 times more efficient than now, thus making full human employment unnecessary, and intervening to insist upon human execution of economic chores was much more damaging to the environment.

   Holding Central Banks down to the one initiative allowed to them of regulating interest rates, will not answer the coming global crises.

   Creative accounting solutions will be necessary in the changeover from conferring the ownership of all new money onto the Banks, to debiting it to the National Balance Sheet without the requirement of interest, nor even redemption unless or until it is recalled from circulation.

   In a crisis, even when the political intention is favourable, authorities entering upon new initiatives are extremely likely to be “all fingers and thumbs”. Long thought out, well considered, and properly detailed initiative papers, may well be critical in the above [and many other] areas, to “taking the tide at the flood”.