Regarding a farmer’s letter to a member of the group and confusion about the way he expresses his problem with debt numbers:
He mentions hypothecation/re-hypothecation in his responses, which is deriving an additional financial instrument by taking a debt instrument and making it collateral ad infinitum. Could this be the confusion of the additional numbers he relates? The derivative nightmare of the shadow banking system occurring before the “great financial crisis” enabled by the fallacy of the neo-liberal economic theory of general equilibrium are what got us into the lingering crisis we find ourselves in. This “casino capitalism” is actually an inversion of grace/gifting and it’s (the shadow banking system’s) resolution is the “modern debt jubilee” advocated by Steve Keen. Again we see that the problem is actually partial and/or complete unconsciousness of the various aspects of the concept of Grace………and their valid and ethical application in the economic system.