Excellent Ellen, and with a discount mechanism to constructively and humanely integrate the otherwise austere Austrian deflationary perspective into the system, and a truly sovereign central bank that has the final call on approving or denying any loan or bond issuance by the private banks….we could have a monetary system based on Grace an aspect of which is being adult, responsible, prudent…..and actually being in control with those motives/policy mandates. And of course a banking system with the economic efficiencies like those of North Dakota would also be an integral part of that system. Why we might eventually be able to get back to the 5 cent candy bar of my youth. Glorious!
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It is time for us to recognize that finance with its godlike powers of creation and destruction cannot be guided by anything but the highest concept of relevance and pragmatism, namely Wisdom, and by Wisdom’s highest ethical concept Grace…so that the intentions of Grace which are freedom for the individual and prosperous free flowingness for the system are manifested and maintained.
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I see Trump and (somewhat mellowed Randrhoid and Tea Partier) Speaker Ryan had a “positive” talk. Most of republicanism is made up of moral judgments about things…that the individual should be free to make up their own mind about. The only issue that is a temporal systemic reality AND conclusively a moral issue is the monetary system. That’s why either a democrat or republican can cognite on it and make the right (gracious) decision regarding it. If Trump caves on the monetary system he’s a paper tiger when it comes to being a reformer. We can try to awaken both he and Hilary and see whose “fire in the belly” seems more genuine. And then after the election if either does not follow through, then foment an uprising by taking Public Banking and Project Wisdom and Grace to the largest constituencies in the nation the small to medium business community and the populace at large.
Chris: I suggest in a second article that you point out the recent piece (which I read this weekend on this list) exhorting us to nationalize the 12 Fed regional banks (and we need the Fed itself nationalized of course). They also make the point that we are the only major nation without a fully public central bank (is this true?).
Me: Chris,
Yes, actual control of the system by the central bank and immediacy and directness of policy all the way to the individual are absolutely necessary aspects for the next system to have.
Now that means that, as Ellen herself pointed out about the North Dakota like state banking system….that a banking system acting truly in the public’s interest….is still a profit making structural entity, it’s just that its profits over and above meeting its payroll are mandated to be returned to the state for purposes that also mesh and align with the individual’s and the society’s interests. It likewise means that the dividend and discount policies of the central bank with their direct, immediate and continually freeing economic effects are recognized as an essential aspect of a modern technologically advanced economy.
With such policies reflective of Grace as in actual sovereign power with the intention of giving that power back to the individual, we will be able to escape the problematic aspects of both/either private and governmental financial control.
Social Credit/Wisdomics/Gracenomics/ Gracientialism 