As the business model of Private Finance is the dominant and most problematic one in the economy and its “product” of Debt synonymous with the current paradigm itself, in any convention to craft a new paradigm it can only sue for its own survival….but nothing else.

Multiple monetary equilibria are possible with the two mechanisms of the dividend and discount. That there can only be one level of dividend and/or discount percentage is merely an overhang of orthodoxy of one sort or another, i.e. of scarcity, mathematics, action/policy-inaction or of equilibrium itself. The concept of Grace is non-fetishism wed to Ethics.

The US is awash in guns. Sane weapons regulation like eliminating availability of assault weapons is definitely called for.

Private banks create money first and look for any reserves later. The central banks of the world are not sovereign, but rather enablers and essentially cohorts of the private banking system.

Every enterprise creates a higher rate of flow of total costs than it does a rate of flow of individual incomes with which to liquidate those costs/prices. Hence the macro-economy is in a continuous state of cost inflation and monetary disequilibrium that can only actually be resolved by out flanking the productive system itself with a direct and supplementary income payment to the individual.

A policy of monetary grace as in the free gift and the philosophical concept of grace as in individual and systemic free flowingness is the new and necessary economic and monetary paradigm the modern world requires to end the dominance of the current paradigm of debt only.

I see absolutely no conflict in integrating both government infrastructure spending, which the US and many advanced economies dearly require due to the obsessive privatization they’ve been subjected to for 35 years, and direct monetary gifting to every citizen 18 and over. There is a scarcity of individual incomes in ratio to total costs and so total prices in each moment of the economy. This is true by cost accounting convention that all costs must go into price, and is missed by virtually every economist largely probably because very few of them have been businessmen themselves and so they do not have reality on the fact that equipment and facilities have to be replaced/upgraded and these along with other routine expenses are additional costs over and above original financing that will end up being charged to the individual in retail prices. MMT has excellent monetary insights and additional infrastructure employment is needed, but if one does not address the empirical facts of the cost inflationary nature of the productive process itself the system will remain inflationary. Businesses incur more costs than they have original financing to distribute to all employees and owners. Anecdotally some businesses are capable of making enough profit to survive such a systemic fact, but macro-economically the system is unstable and increasingly onerous as capital costs for high tech and eroding aggregate demand due to the disruptive effects of innovation and AI increasingly become realities. The system requires additional individual income to be stable. Let us integrate both additional employment and direct monetary gifting and accomplish the needed stability.

Any currency can be crashed if its central bank allows its private banks to lend to speculators so they can short it. That’s what happened to the Weimar Republic. If, however, the government has half a brain and decides to be sovereign over its currency and thus does not allow such irresponsible actions to occur there isn’t any problem. And any shorts in other currencies can be ignored or denied. That plus, if you have policy in effect that always keeps sufficient money in the hands of individuals to make the economy function stably and a policy that reduces retail prices to below their normal levels without punishing businesses…only a liar could say the economy was unhealthy.

Yeah the IMF is part of the financial business model. They’re not interested in change. What the world needs is a mass movement for individual and small to medium sized business abundance, anti-financial monopoly and peace. Things are beginning to look ominously like the run up to WW II. You keep people in a prolonged state of austerity, frustration and hopelessness and violence is inevitably the result. Look around at the figures and circumstances: tensions all over the place whether it be Europe, the Middle East or America. Every pol in Europe is either deluded by economic orthodoxy of one sort or another which results in lots of heat but no light and virtually no action. I’m not that familiar with Australian politics, but would bet they probably fall into the same mold. In America you get an incredibly derisive fascist like Donald Trump who plays to every frustration the vast majority is feeling. We need to stop trying to influence the bought, the deluded and the disinterested, and join together in awakening the individual and businesses to their self interest in having a goodly additional amount of money continually in their hands….so they can spend it on the business’s products.

Wisdom is the synthesis of the truths in complexity, and Grace is the combined essence of those truths.

The efficiencies of production are increasingly bringing the inherent scarcity of individual incomes in ratio to costs and so prices more starkly and obviously into present time where not even deluded and/or hypnotized economists and the self interested financial powers will be able to deny it.

If too little individual incomes to liquidate production is the reality moment to moment in the economy and we are forced into that present time reality by efficiencies of both human labor costs (individual incomes) and even efficiencies of human input at all….how will the operators of finance and the justifiers of the economy hide that reality? Only with absurdities like meaningless employment, the wastefulness and productive destruction of war and increasing austerity in the midst of fantastic productive capabilities.

Monetary grace as in the free monetary gift must become the new and immediate economic paradigm.

Far be it from me to discourage employment, especially badly needed infrastructure employment by government, but if we integrated monetary gifting directly to the individual right along with that infrastructure spending we could modernize our infrastructures, utterly stabilize our economies…and slay the dominance of finance capitalism in one fell swoop. And not only that but we could enable every one of our citizens to take the deep financial breath they have been denied so long by that financial monopoly…so that they could think clearly and rationally about the ecological considerations that face mankind…instead of being so stressed and pre-occupied with attaining (and failing to attain) economic and financial freedom…that they are atomized individually and collectively and so cannot formulate a broader and more clear philosophical impetus for relative restraint.

What better and more devious way to distract, divide and deter economic and monetary reformers from the straightforward task of dismantling the financial monopoly…than to send then down the rabbit hole of unprovable and fantastic assertions…even if there is some truth there?

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Regarding a poster’s suggestion that we do not participate in a thread:

I’ll let Jaan and John Rawson speak for themselves, but I will reject that suggestion and continue to occasionally comment. Those of us who already have sufficient wariness of governmental, corporate and financial abuse of power don’t actually require such further education to oppose them, especially if it is a distraction from the concrete proposals of Public Banking and other reform movements. You are free to continue to post about unprovable and unfruitful assertions and we are free to not agree or partially agree.