I would of course prefer simply floating a new currency and dividend and discount mechanisms, but the game still goes on. If Syriza is relatively rapidly unable to meet its obligations despite the reforms it is the final straw and definitive demonstration of the economic and monetary fallacies of austerity and then they can do the right thing like they should have done now and feel completely vindicated. I think Tsipras has quickly squandered a huge amount of political capital. Lets hope their politics don’t take a lurch back to the right.

We should see that Public Banking and the Gifting ideas and policies of Social Credit are presented to moderates on both the left and right as they address the real deficiencies of all economies and actually accomplish the more economically valid agendas of each. The Right gets the business and profit making advantages of adequate money in the hands of individuals, tax relief from the redundancy of such by the dividend and the elimination of inflation and in fact price deflation even within a profit making (but not capitalist) system. The Left gets the economic democracy created by the dividend that it has never actually been able to create because like the right it was unconscious of the cost accounting data and only the upper bound of the pricing system, and bragging rights that it was a true socialization (but not a flawed re-distributive socialism) of the Banking and Financial systems that finally enabled profit making systems to evolve and thrive as technology, AI, businesses and individuals advance toward the abundant and gracious society….together.