DK:  The reformers would be better off abandoning the false endogenous money theory and sticking to the more solid fractional reserve theory, which is sufficiently damning by itself. The example of the Austrians and libertarians is illustrative. As you know they pretend to condemn the fractional reserve practice. Most rank and file Austrians revile it. Yet secretly their leaders refuse to outlaw it. Some of them understand that fractional reserve is the method for furnishing enough liquidity to stave off depression. But most of them oppose banning fractional reserve on the basis of their undiscriminating addiction to deregulation. As non-libertarians know, banking deregulation is the code word for not enforcing the law against criminal globalist bankers, and that the libertarians are witting or unwitting tools of the kleptocrats.

Me:  Whether or not the fractional reserve or the endogenous money perspective is correct, the fact that modern technologically advanced capital intensive economic systems are inherently cost inflationary by cost accounting convention is the more relevant insight. This is not the garden variety “interest is the entire problem” crank viewpoint. The flow of the set of interest costs is merely a subset of the flow of total costs which is the more underlying and generally unperceived problem.