All of the delusive thinking and consciously bought regressive monopolistic forces come out at times like the 30’s and like now. They were wrong then, they are wrong now. OMF is enlightened….as far as it goes. It’s only real problem is it only goes from private finance….to public finance. It needs to be extended all the way to the individual. That doesn’t mean the government can’t additionally fund infrastructure etc. Of course it can, and of course it should…with reasonably prudent overseeing so that we don’t end up building thousands of “bridges to no where” and also don’t end up with 5 powers with armies and navies the size of the US.

I know you desire not to have a discussion of Social Credit here Bill, but the relevance of facts like C. H. Douglas’s speaking tour of Japan in 1929 which was enthusiastically received if fascistically twisted by the imperialistic/militaristic forces there….cannot be ignored.

You are correct to point out that hyper-inflation is not a credible critique as it requires a compliant central bank to lend to speculators so that they can short the currency and destroy it as was the case in Weimar. And you are also correct in saying that inflation was not a significant factor in Japan as well, but that was mostly because the war was on and war is always “good business.” Inflation however would have and will occur because….who and what is to stop businesses from raising their prices as they see demand rising? The situation cries out for a macro-economic policy like a rebated back to participating merchants retail discount to the consumer. If you don’t do that the regressive and monopolistic financial powers and their austerian lackeys will (correctly) carp on and on about 3-5% inflation until OMF is politically reversed. Put sufficient dividend and macro discount mechanisms in there and drive a stake through the heart of the 5000 year old problematic business model of private finance…once and for all.