Hudson is astute alright, but neither he nor Steve Keen or Warren Mosler have identified the new monetary paradigm of Monetary Gifting and the strategic point in the economic process at which to implement that new paradigm. The above are all very, very smart systemic analyst guys, but because they haven’t analyzed on the conceptual/paradigmatic level they’ve missed it. Every new paradigm IS A NEW CONCEPT, A NEW KEY APPLIED CONCEPT. Its helio-centrism instead of geo-centrism, or homesteading, urbanization and agriculture instead of nomadic hunting and gathering. It IS true that at the point of exchange money is legitimately always debt because every commercial agent is entitled to their full price. However the new paradigm of GIFTING ALSO changes the monopoly paradigm for the creation and distribution of ALL NEW money, that is DEBT ONLY (the word ONLY designates it as a monopoly paradigm) while also guaranteeing that all commercial agents get their full price via the same method new money is currently created, namely double entry bookkeeping/accounting specifically equal debits and credits that sum to zero with a 50% Discount/Rebate policy at retail sale…so the consumer gets $100 worth of groceries for $50, a $60k EV for $30k and a $500k house for $250k. And then, as your car payment and mortgage payment are the retail points of those liabilities the mandated new paradigm PAYS FOR 50% OF THOSE TOTAL PAYMENTS AS WELL SO YOU’RE ACTUALLY GETTING THAT $60K EV FOR A PAYMENT EQUIVALENT OF ONLY A $15K LOAN AND A MORTGAGE PAYMENT EQUIVALENT OF ONLY $125K.