Posted To Ellen Brown’s Forum 05/13/2016

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A suggestion: Re-write your final paragraph this way:

The issue that should be debated is one that dominated political discussion in the 19th century but that few candidates are even aware of today: should creation and control of the money supply be public or private…or more importantly should the policies of the monetary system be gracious as in humane and abundant which counters the tendencies toward austerity of private control and the tendency toward tyranny that power has on both sides of the private and public duality? Donald Trump’s willingness to transgress the conservative taboo against public money creation is a much-needed step in opening that debate. Perhaps the liberal side of our political system can also contribute to a process of integration that will bring us to that higher and more complete solution to the money problem.

E:  Thanks Steve but it wouldn’t be in my style. I try to mostly just present the facts; that’s how I get away with as much as I do.

Chris:  That’s a needed second article!

Me:  Yes, as monetary gifting is the only valid and workable  solution to the facts of an austere money system wed to an advanced economy that creates more total costs than it distributes in total individual incomes.
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E:  Pretty interesting. They say they almost want to see it happen just to see how it works out.
Kevin:  What they say is one scenario if we continue to allow Money Markets to distribute capital rather than distributing Capital where it can be useful invested – like education, renewable energy, hospitals, etc.  A solution is to provide better ways to distribute Capital than Money Markets. Markets in real things still exist and these should determine where money will be invested.  This approach gives a ‘soft landing” as we get rid of compounding debt and inflation loan by loan.

The solution is not a debt jubilee as that does not address the underlying problem.  You have a debt jubilee and then you will have to have another one in a few years time.
Me:  “A solution is to provide better ways to distribute Capital than Money Markets.”

Yes, those of us who are knowledgeable about the money and financial systems need to speak up to power and demand that there are adult and responsible controls in them.

“The solution is not a debt jubilee as that does not address the underlying problem.  You have a debt jubilee and then you will have to have another one in a few years time.”

Actually jubilee is a part of the solution. It helps redress the damage to people and institutions that asset and credit bubbles primarily caused by the Banks and their subsidiaries wrought on the society.

Pay attention to Keen. He has waded through a mountain of hypnotizing economic and monetary orthodoxy to re-discover some of the things C. H. Douglas declared over 90 years ago. He is also correct in saying that the private debt is far more important to deal with than the public debt, although both can and should be dealt with.

“Markets in real things still exist and these should determine where money will be invested.”

Yes. Getting rid of the private debt and insuring that neither it nor systemic instability returns via a universal dividend and a strategically placed discount at the very end of the economic/productive process is what will
make investment in the traditionally productive part of the economy possible and profitable again.

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