Fair enough observation, but that doesn’t change the fact that the system is destabilized by private debt most essentially because the current paradigm for the creation and distribution of all new money is Debt ONLY. In other words its a monopoly paradigm not unlike the monoply paradigm that the Catholic church held before The Reformation which was Salvation Via Roman Catholic Sacraments ONLY. The word ONLY in both cases designates it as a monopolyconcept/paradigm. Integrate Monetary Gifting strategically into the Debt ONLY system and all manner of modern economic and even social and psychological problems are resolved. Paradigm changes are the second most progressive and permanent phenomena that humanity ever experiences.

Government debt isn’t the problem its the continual build up of PRIVATE debt. Stop that and any inflationary urges by having merchants gift everyone 50% of the price of everything at retail sale. Then have the central bank rebate every cent of the discounts the merchants give to the consumer so that the merchants are made whole on their full price. Equal debits and credits that sum to zero, right Steve??? That implements beneficial price and asset deflation because everyone can buy $100 worth of groceries for $50, a $60k EV for $30k and a $500k house for $250k, and as your mortgage or car payment is the retail point of Finance the same policy reduces the above prices again. Whoopee! Sure Finance will bitch about losing their monopoly pardigm for new money creation od Debt ONLY, but think about it the market for $500k homes just got quadrupled for everyone and the banks get the same market quadrupling which translates into doubling their cash flow even if the loan is halved. Plus their market is greatly stabilized to boot.

Money just as money, not debt has been done before. Its why The North won the civil war because Lincoln distributed greenbacks. Now, with digital tech and double entry bookkeeping there’s no chance monetary gifting will cause inflation because it implements beneficial deflation. Do you hear the orthodox and non-lookers heads explode? Lots of other policies and benefits to a new monetary paradigm here: https://www.amazon.com/Wisdomics-Gracenomics-New-Monetary-Paradigm-Policies-ebook/dp/B0C49B9PX7/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=1552358772&sr=1-1-catcorr

The aspects of the applied concept of grace is the answer to everything from the monetary paradigm to the potential problems of AI.

Change the monetary paradigm for the creation and distribution of all new money, and you change the entire world because money is the tool for both individual freedom and for doing things. The present monetary paradigm hasn’t changed since the first day of human civilization so the present paradigm is WAAAAYY anomalous.

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Most of these guys, whether they understand this or not, is they are really trying to describe the problem of the paradigm concept of Duality ONLY, and that we need instead to cognite on the truth and efficacy of Trinitarian thought.

What we are looking for and Nassim is describing is a concept. An ultimate concept. I assert that that concept is grace as in the ultimate unifying, integrative, synthesizing, transformational, trinitarian and thus duality ONLY dispeling state of the cosmos. Its Einstein and Jesus, Buddha, Krishna etc. etc. combined. Ultimately the cosmos is the above states and yet because we don’t have electron microscopes for eyes we don’t temporally see this we tend to see and get caught up in duality instead. Emergence is a trinitarian concept and phenomenon. Nassim is utilizing math and science to enlighten Wisdom.

PPG (Positive Purpose Guarantee), LCA (Localization of Community and Attention) and CGFM (Conscious Gratitude For The Moment). These three primary policies/tools of acculturation directly address the social/psychological fears and problems expressed by economists and other pundits. They fill life/time constructively and direct attention outwardly away from the internal/mental too often snarled complexity and conflicts that is the result of the last several centuries of a burgeoning monopoly paradigm for intellectual inquiry of Science ONLY…when our intention should have been to pursue Wisdom, within which Science is a wholly contained set. Our species designation after all is homo sapiens sapiens…wise and decerning man.

So let us consciously awaken to and pursue these policies and the latter more wholesome, fulfilling and healthy intellectual paradigm of Wisdom which is also a key step in achieving the only human phenomenon more general and progressive than paradigm change, a new zeitgiest/ethic of the age from PPCO (Power, Profit & Control ONLY) to Grace which is Redeemed/Redemptive Power, Profit and Control. Let us dispense with both monopoly paradigms and monopoly zeitgeists.

Oh yes, and cynicism which is the modern mental and intellectual disease must give way to CHL (Confidence Hope & Love) because its sane instead of the insanity of cynicism/giving up before even starting AKA hopelessness.

Also, the new appex of the sciences goes from Philosophy to Paradigmology which is the study of APPLIED Philosophy.

Which zeitgeist will we choose? The present one of Power is problematic. Grace is all about solutions…of every kind, including that of Power. Why? Because Grace is redeemed/redemptive Power. Grace integrates and transforms opposites into thirdnesses greater onenesses of what are unresolvable problematic dualities. Duality is the definition and mental architecture of problems. Trinity/Unity/Greater Oneness is the signature of both Wisdom and solutions.

MMT is an excellent systemic reform. Full stop. Its problem, like every reform, is it lacks adequate conceptual/paradigmatic analysis. The applied ideas behind/underneath our systems that create and re-inforce temporal universe AND personal/acculturated realities are where the real power for change exists.

Yes, its the framing of MMT that is inadequate, and that, again, is why we need conceptual/paradigmatic analysis. Debt is a loaded moral concept, when what we need is ethical analysis. Ethical analysis is the rational consideration of mere black and white/moral analysis. Debt itself is not unethical…only the monopolistic paradigm concept of Debt ONLY. The word ONLY designates it as a monopoly concept/paradigm. Break up that monopoly with the paradigmatic/diametrically opposed concept of Strategic Monetary Gifting

Financially we live in a pre-Lutherian age because we have not cognited on the fact that the present monetary and economic paradigm is the monopoly concept of Debt ONLY. Luther began The Reformation by pointing out the dominating monopoly nature of the Roman Church’s paradigm/claim that salvation was assured via their sacraments ONLY.

Integrating the new concept of Strategic Monetary Gifting into the Debt Only system specifically with a 50% Discount/Rebate policy at the retail point of commercial agents including Finance, and other conceptually aligned policies, and we will have a monetary, financial and economic paradigm change.

Yes, MMT is incomplete and BTC is privacy as in lack of security more than anything close to a solution.

Just posted this to Keen’s latest YouTube Video: Please correct this phrase as the key reason for economic turmoil: “bank loans create deposits” to “new money in the form of bank loans is always and everywhere in the MONOPOLY form, vehicle AND PARADIGM CONCEPT…OF DEBT ONLY”.

And, as price is debt in the sense of THE BURDEN TO PAY AND REPAY, the presently enforced concept of BUYER MUST PAY 100% OF PRICE is a monopoly paradigm as well.

Resolve these conceptual monopolies by implementing a 50% Discount/Rebate policy at the retail point of all commercial agents including Finance and you will effectively integrate the new monetary paradigm of Strategic Monetary Gifting into the DEBT ONLY system.
Yes I troll Keen, who I learned very much from, but its ethically justified because new concepts/paradigms are solutions while systemic analysis generally fails to analyze on the conceptual level and hence its policy recommendations end up being only palliatives.