I didn’t say debt was bad per se. I said the concept of Debt ONLY was a monopoly concept for the creation and distribution of new money. All monopolies are dominating and hence unethical exactly like the Roman Catholic monopoly paradigm I referenced.

What we need is to strategically integrate the new paradigm of Gifting into the Debt Only system, and a 50% Discount/Rebate at retail sale is the first and best policy to accomplish this because:

1) Everyone participates in and/or is economically effected by the the price at retail sale which makes it by definition the single aggregative as in macro-economic point in the entire economic process (thank you non-Nobel prize committe in economics).

2) Hence it is the perfect place to implement monetary policy as per above because

a) its use of the accounting operations of equal debits and credits that sum to zero IOW a 50% credit of retail price to the individual and a reciprocal debiting of that discount back to the merchant granting it implements BENEFICIAL deflation for the individual by increasing the money supply (the heads of the orthodox explode) and b) there is no moral hazard because with the rebate the commercial agents receive their entire price and also receive the benefit of the demand for every one of their goods and services being potentially doubled (the heads of the orthodox explode again).

3) It amazes me that MMTers who correctly point at the fact that our money is created by accounting/equal debits and credits that sum to zero, don’t stand up and cheer when those same operations at retail sale resolve inflation, chronic individual monetary austerity and create a potential doubling of demand for commercial agents’ goods and services which is the very definition of good economic times.