Buyer Beware,

I envision a tri-level Financial and Banking system wherein ultimate and initial money creation is only from a sovereign national governmental agency which also has a philosophical and ethically mandated alignment with the natural concept of grace in all of its relevant economic and monetary aspects, and which also creates money for governmental purposes, but which governmental spending also is beholden to the same natural concept of grace. Then a structural Public Banking system which lends funds to commercial enterprise and to individuals and whose profits over and above the salaries and wages of its employees returns to the government and/or distributed back to the individual. Thirdly, Private Banking which is only allowed to aggregate but not leverage priorly earned and saved money which can be used for speculation with the complete and clear understanding that its consequences are ONLY the responsibilities of the parties involved. (Note: Speculative research could also be a function of the Public Banking system and receive funding from the government monetary agency so long as it passed the requirements that it lead to more resource efficient and traditional production but not some unhinged, wasteful and “money flowing uphill” financial legerdemain.)

Buyer Beware:  Thank you for your patience in discussing this.
Re: Steve. The banks could be doing this now. I don’t trust them to all of a sudden begin doing what is for the good of their customer. I am afraid that this is yet another maneuver to find new avenues to “trim” profits.

Buyer Beware,

Oh I completely agree they could be doing that now, but of course their own selfish self interest is is the stumbling block. My thinking assumes there must ultimately be a political fight to implement such things, but as thought/philosophy always precedes action and policy it is essential to have both the philosophy and policy clarified and agreed upon for the fight during which the financial authorities will of course use every divide, compromise and conquer tactic as well as smear, slander, other more subtle ego-schism tactics and even war and assassination. All the more essential to educate, raise awareness, form alliances and discipline the mass social movement (as Bill has shown a political movement is too inherently fractious and ego involved to be an effective tool of reform) necessary to herd the entirety of the political apparatus toward the most comprehensive solutions.

F. Beard,

My tri-level banking and money system and dividend and retail discount policies are exactly designed to do the things you say, excepting the structural Public Banking which is also governed by the sovereign central bank would replace private banking for the most part. It would also satisfy Neil\’s desire to see loans go for projects that improve the capital/productive structure of the economy instead for wasteful and vice ridden financialization. Private control of the money system in a flawed and already privately power coalesced world is doomed to fail. Of course government as we all know can be even more tyrannical than mega-corporate and financial tyranny, but that is why the directly distributive policies of a universal dividend and retail discount that are perfect reflections of grace as in free gifting, and which by definition are both individually freeing and enabling of systemic free flowingness are necessary. A philosophy of freedom, policy that frees and the actual effect of freedom in the spacio-temporal universe. A = A= A. This must be our underlying logic. And of course all of this could also include things like a job guarantee so long as it was completely optional so that neither the business community nor the Banking system could use it to dominate in any way. Of course if the money system was truly sovereign and also governed by the policies of freedom such dominating actions would become immediately obvious as out of alignment with gifting and freedom.