Post On Ellen Brown’s Forum

WM:  Steve et al,

While I still have trouble visualizing how all the retail discounting and gracenomic generosity pencils out, I appreciate both the spirit and objectives of your proposed system. I thought of it today when I came across the below Abstract from J.D. Alt in New Economic Perspectives which is part of a patent application for a macroeconomic monetary system designed to finance corrective infrastructure for cllmate change. It may be a bit overwrought since our current sovereign system could (theoretically) also finance dramatic investment in the field, but I thought you might find it of interest.

BB:  Thanks for posting that, Walt.

I proposed a simpler way of converting to a sovereign fiat currency, while also taking into consideration the crimes committed by the cartel in the process of seizing control over our central bank and printing private bank notes to acquire global assets
Me:  Yes I agree with Bob that it’s too complicated. It’s Bill Black’s/MMT’s take on how to deal with the current monetary paradigm. It’s problem is just that…it’s thinking remains firmly within the current paradigm. It’s like Ptolemaic cosmologists perturbating the orbit of mars in order to make their theory work. It’s certainly meant to go in the correct direction which is to deal with individual income scarcity and governmental/systemic monetary austerity, but does not “Cross the Rubicon” into actual paradigm perception and implementation.

Public Banking has always been onto the solution Debt Only IS the current monetary and financial paradigm and changing that is the key part of any actual economic solution. As Bob says getting control of the central bank is also key because it is the correct source of monetary creation…not the private banks who now actually have that power. This is why IMO a national banking system and central bank are necessary. I mean, in an allegedly free enterprise system how glaringly contradictory and morally and ethically rediculous is giving already dominant profit making entities the monopoly power of the life’s blood of every individual’s and the entire system’s most important factor? Of course public banking could be problematic….unless it was aligned with and guided by an unimpeachable ethic like monetary graciousness as in Gifting.

I just posted this on my blog wisdomicsblog.com I hope it helps to clarify the discount/rebate policy and show how it is the single integration point of the micro and macro-economy and hence the fulcrum point at retail sale that can invert the problematic realities of the current paradigm into a new one.

The Point of Retail Sale….
is the single integrative point of the micro and macro-economy. If you doubt this consider that retail sale is the terminal aggregative point for all costs and so prices for every consumer item and service produced in the micro-economy. Yes, there are other business models other than retail, but their costs including profit are already factored into final retail sale because it (retail sale) is the terminal end of the entire legitimate economic process and the cost accounting convention that all costs must go into price is, necessarily and correctly, applied. If anyone doubts that retail sale is the terminal end of the legitimate economic process just ask yourself when was the last time you bought $100 worth of groceries and when you got home the grocery store called you and said: “Sorry, we have to have another $50 for those grocies.” Never. Because consumption is the ending point of production…and that is what occurs at retail sale. 

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