TA:  The digital EPM vil have value and be accepted in transactions since it may be used to pay taxes — one EPM counting as one euro.

Me: Trond,

A nation’s present currency pays for taxes. Why create an additional one when, with the strategic implementation of the policies of the new paradigm of Monetary Gifting, you can resolve the deepest and most chronic problems of modern economies.

We see the beginnings of part of the awakening to the new paradigm in ideas such as “a modern debt jubilee”, 5 Star’s dividend, QE for the People, MMT’s assertion that direct funding by government is the actual reality in fiat money systems and that money is essentially accounting. Now all economists need to do in order to integrate all of these insights is look directly at the operations of commerce and cognite on the incredible mathematical significance and paradigm changing effects of a discount/rebate monetary policy at the point of retail sale. The abundant relatively high percentage discount/rebate at retail sale is the invention of the telescope and discovery of the ellipse of economic theory.

JV:  Ah, the old MMT shibboleth that gives value to that part of the “money supply” that’s paid in taxes. What about the other half to two thirds? Why not simply hold that money is valuable because it allows one to legally appropriate the output of others in exchange for ones own? At least the position of taxes supporting military expenses won’t need to be defended as being valuable.

Me: It’s not a shibboleth that sovereignty/order/ethics is an essential aspect of human interaction. If the government isn’t sovereign….why would powerful corporations and individuals bother to pay their taxes?

When you can integrate the apparently opposing aspects of the natural philosophical concept of grace like benevolence and sovereignty with the policies I advocate….you know you’re on to something truly profound….like a breakthrough discernment that brings resolving wisdom to economics and the money system.

Answer: It’s “too expensive” and it will cause inflation.

So if we can drastically reduce the cost of finance and prevent inflation in the consumer economy we can proceed with everything beneficial so far as infrastructure, sane environmental and ecological policy and monetary abundance for all economic agents.

And that is precisely what the four tenets of Wisdomics-Gracenomics accomplish with:

1. A new monetary authority and a publicly administered national banking system including the central bank that do not require profit for them to exist.
2. A universal dividend policy distributing $750-1000/mo. to everyone 18 and older.
3. A 50% Discount/Rebate policy implemented at the point of retail sale that not only eliminates the possibility of inflation, but integrates price deflation painlessly and beneficially into profit making economic systems.
4. Changing the new ending point for the legitimate economic/productive process for “big ticket” consumer items like houses and autos etc. from retail sale to the point of note making so that such note can be further reduced by 50%. Thus a $200k house is reduced to a $100k note at retail sale where all profit making enterprise has been duly compensated and at the signing of the note is then graciously reduced again to $50k.

Me: We need to understand that the bankers and their enablers are few and we the benefactors of the new paradigm are many. Economists need to make up for their ignorance/intellectual complicity in letting the paradigm of Debt Only continue to reign. They could best do this by recognizing that endlessly theorizing, preaching only to ego involved academics and “authorities” in the faint hope that they will change their minds and making everyone’s eyes glaze over with calculus….are fruitless political endeavors.

They must instead get behind a mass movement that communicates the simple but elegant and powerful essence of the benefits of the new paradigm and its policies for both the individual and commercial enterprise.

KZ:  Craig, bankers are not only few but in current American society mostly invulnerable to attack or prosecution. Not one banker was prosecuted regarding the 2007-2008 financial crisis. And, of course none went to prison. I simply find it difficult to believe that the movement you suggest could take on bankers successfully. Particularly, when US Presidents, US Congress members, religious leaders, and entrepreneurs have failed to control banks. Right now banks are in charge. Before any such movement as you suggest even has a chance of success, banks must be taken down, hard. That needs something more like an MMA match.

Me:  Do not underestimate the power of desire for change and self interest combined. Trump allegedly won the presidency by demagoging the former alone. Showing the extremely large constituencies of the 99% and the small to medium sized business community who dwarf the employment and personnel numbers of the major corporations how they can IMMEDIATELY almost triple their incomes and potential business revenues with simple, easily understood and observable policies like the discount/rebate policy and a universal dividend….is an extremely powerful message. Put that together with an honest and urgent modicum of indignation about how the financial and corporate elite have dominated the general populace and…..

Regurgitating the correct and erudite critiques of neo-liberal DSGE for ANOTHER decade has no such chance of succeeding.

The sooner well intentioned economists swallow their intellectual vanities and realize that the point of retail sale is the simple but elegant and effective fulcrum point in the entire economic process where a single monetary policy can invert stubborn longstanding realities into the very goals they already say they want to see occur….the better.

If you want peace, work for justice,

If you want the Good, ponder ethics,

If you want happiness, find purpose, and

If you want freedom, contemplate and apply grace.

Steve Hummel  12/02/2018

….that the point of retail sale is a pivotal monetary and economic fulcrum point from which systemic realities can be not only moved, but transformed. It’s a paradigm changing insight.

It’s all old paradigm thinking and tweaking. A new paradigm is a radical, powerful, elegant and yet simple change. The paradigm of Debt Only has ruled for over 5000 years. The world changes. Forget the tweaking….solve the problem…so that everyone benefits and finance is possible for the innovative and sane ecological changes we need.

If you don’t have to worry about inflation because you’ve taken rational control of the terminal expression point for all forms of inflation with a high percentage discount/rebate monetary policy at the point of retail sale that beneficially and “miraculously” integrates price deflation into profit making systems, then you can pour as much money into the economy as is needed for everyone to have an upper middle class income and to finance whatever projects are needed for a better, more productive and ecologically sane world.

The paradigm of Debt Only has been in effect for virtually everyone and at every moment for such a long time that it has held the cultural and psychological evolution of mankind back almost from the beginning of civilization. Once this great and vast neurosis is removed and we intelligently and graciously acculturate ourselves to the freedom the new paradigm will effect, mankind will have the opportunity to fulfill its actual species designation of homo sapiens, wise and discerning man.

The $1000/mo. Dividend and 50% Discount/Rebate policies for consumer goods and services will remain in force for 10 years. People will be encouraged to work at least part time for this entire period. After the ten year period the Dividend will probably be increased and the Retail Discount/Rebate policy for everyday consumer goods may be reduced by at least half to 25%.

The 50% Discount/Rebate for notes for homes and for other “big ticket items” like autos, especially for electrical ones, will continue to be the new end of the productive process and will not be reduced in percentage

Discouraging taxation and regulations will remain in force for non-legitimate price increases (those made without actual overall cost increases), and tax and regulatory incentives will also remain for competitiveness and innovation.

A Green agenda will continue to be encouraged in every way especially for research into being able to do/produce more with less resources and energy usage. Green infrastructure will be a top part of the agenda and intelligently financed.

The National Banking System with 0% interest loans will remain in perpetuity.

The Dividend and Discount/Rebate policies will become amendments to the Constitution.

DSGE Macro-economics has not only become an obscuration of the monetary nature of the economy, it has also become a justification of private finance, its money creating powers and the paradigm of Debt Only.

Until macro-economics’ realizes that it was born into the over 5000 year old domination of economics by the paradigm of Debt Only as the sole means and vehicle for the creation and distribution of credit/money it will either miss the entire point (Neo-liberal DSGE) or splash around on the surface of this paradigmatic insight with the palliative reforms of extremely erudite people like Steve Keen, Michael Hudson and the various advocates of MMT.

Only the realization of the new paradigm of Direct and Reciprocal Monetary Gifting, its primacy over Debt Only, the significance of the triple power point of retail sale and monetary policies implemented at that point will actually resolve the problem and complete the theories and insights of the above individuals. The answer to the coalescence of the financialization of the economy is the re-retailization of it.

Reverse and solve the problem of the over financialization of the economy with its

re-retailization.