“Everyone on this site knows how to create sovereign money, free of debt, and how it could repay the debt in half a generation, without austerity or even inflation. Pretending the problem is debt just feeds into the 1% narrative that the 99% is responsible for the injustice it suffers from the 1%. It’s got to stop.”
Yes they do know how. By creating money free of debt, that is AS money INSTEAD OF as debt. What they don’t know is the where and when of how to distribute it for the most beneficial individual, commercial and systemic effect. And that is at retail sale with a large percentage discount which is reciprocally rebated back to the retail merchant gifting it to the consumer.
So far as inflation is concerned everyone in the heterodox money reform and economic community is still on very unstable ground in so far as saying there won’t be higher than normal inflation. There will be….unless you create a policy so beneficial to everyone they can’t afford to opt out of it and implement that same policy at the terminal expression point for all forms of inflation and at a high enough percentage that it eliminates garden variety “monetary” inflation and actually integrates beneficial price and asset DEFLATION into profit making economic systems.
Money itself is no more than a teriary cause of “monetary” inflation. The two most causitive factors are general monetary scarcity and having no policy infrastructure that provides commercial desicion makers a better option than to committ the economic vice of price inflation when they perceive more money coming into a system scarce in individual income and hence business revenue.
MMT and State “public” banking are fine reforms, but they still exist entirely within the old paradigm of Debt Only. Just think about how much more potent a personal and political message that immediately doubling everyone’s purchasing power and every enterprise’s potential revenue is? You get business and labor on the same side! Take it directly to the people. Pols are notoriously cowardly and duplicitous. But they WILL follow the individual and commercial agents when the policies of the new paradigm are perceived by and presented to them.