Positive Money has the right idea about sovereign creation of money, but how can anyone think that a committee of politicians and “experts”, i.e. probably former or current bankers, as generally ignorant of economics and money systems as they are, will have the knowledge and objectivity to create sane policy? Its a job for philosophers of economics and beyond that even, philosophers familiar with the world’s major wisdom traditions, to decipher.

Sovereignty is an aspect of the concept of Grace by the way, the natural concept that is. As a structural entity Public Banking also reflects an aspect of Grace, namely temporal presence, as well as sovereignty if it were a central bank with the power to create money and make monetary policy instead of foolishly allowing private finance to do so. In fact every current cutting edge theory and reform movement has one or more aspects of the concept of Grace as a part of their philosophical underpinning. Maybe we should integrate them and make them whole.