Posted To Steve Grmbine’s Podcast -1/08/2022

Me: MMT is correct theory and sustainability is necessary. But what keeps enterprise, the economic system and individuals from embracing both of them and the progress they would bring? Their cost is the short answer. What if there was a way to make everything, and most especially green products and green proposals, so much cheaper that there would be a bottom up upswell in the products and in the viability of the proposals? The way to do that is to integrate the new monetary paradigm of Direct and Reciprocal Monetary Gifting into the current monopolistic paradigm of Debt Only with a 50% Discount/Rebate policy at retail sale and a second 50% Debt Jubilee policy for all big ticket and green products at the point of note signing. End the cost increasing factor of inflation forever and make ecological sustainability not only palatable to enterprise, but the “go to” area for sales and profit. Change the monetary paradigm and change the world…before its too late.

Mark F:

Understanding what is described by MMT, “cost” becomes the least important item of any federal budget discussion and how the bill will be resourced becomes the priority.

Anything achievable is absolutely affordable for the sole legal issuer of the US dollar, the US Government. For example, if National Improved Medicare For All is on the table, we need to know if the availability of healthcare professionals and number of facilities are sufficient to care for all who can now get the care they need after the bill is signed into law.

The question of how the Government will pay is answered by pointing out that all federal spending is financed one way, be it bombs, tanks, or whatever the US Government wants to purchase from the domestic and foreign private sector. Federal spending is financed by Congressional appropriations. The US Government is self-financed and Federal taxes do not and cannot pay for any Federal spending.

Me: I’m not disputing the fact that the US gov is monetarily sovereign etc. etc. What I’m trying to communicate is the benefits of a monetary paradigm change. A change that would not only end inflation forever (which by the way would rationally end any {already false} argument that government deficits are inflationary and so pave the way for the fiscal spending necessary to confront climate change), but do the impossible so far as any present economic theory is concerned, namely integrate beneficial price and asset DEFLATION into profit making economic systems. Inversion of mental and temporal universe orthodox reality is a cardinal signature of historical paradigm changes (the Copernican cosmological paradigm change was nothing more and certainly nothing less than the inversion of the positions of the earth and the sun for instance). That’s what the new monetary paradigm of Direct and Reciprocal Monetary Gifting does and a 50% Discount/Rebate policy at the point of retail sale and a 50% debt jubilee at the point of note signing are exact expressions of that new paradigm.

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