The unavoidable truth is its going to take a mass movement that will herd the entirety of the political apparatus toward the correct policies. Our politics, as it is, is broken and confused. My idea would be to integrate the Public Banking agenda with what I would call Project Grace that marketed the obvious self interest the small to medium business owner has with the consumer having the additional income of a universal dividend placed directly into their hands every month…..so they can purchase the businesses products and services, and of course marketing a universal dividend to individuals as well. Then show them how the macro-economic tool of the discount can actually result in price deflation. It’s a proactive win-win for both of those groups. And of course Public Banking is necessary as both a structural balancing of private finance, particularly for funding governments on all levels, and also as the credit creating agency specifically mandated to calculate and distribute the dividend and discount monies. Social Crediters refer to this public agency as the National Credit Office, but who’s quibbling over words…it’s a Public Bank credit distributing agency that is acting in the interests of the individuals and business community that breaks up the monopoly on credit creation by private Banks and the FED.

Sell it to those whose interests align with it (the vast majority of both businesses and individuals) and ignore/forcefully negate with the truth the carping from those that do not see the balancing need for Public Banking and the need for the balancing two policies of Social Credit as innovation and AI increasingly reduce aggregate individual incomes.

Stuart,

I actually like Bernie Sanders’ bombast and what I am sure are good intentions. However, as your post shows he, as any pol is exceedingly tempted to do, is willing to compromise with unethical policies and decisions…if it benefits a constituency he likes and/or benefits from politically. Political compromises never enable an actual integration of only the truths, workabilities, applicabilities and overall ethical considerations of policies and executive actions and hence never enable such actions to become more whole, more unifying and more comprehensively beneficial to all parties concerned. The tendency of TPTB is to insert such temptingly delicious but unethical poison pills into legislation and policies. It solidifies their power agendas, makes politicians go along in order to get along and/or get a little, emphasis little good done.

Saturate the economic system at every level with monetary grace starting with the Banks where you reduce both their business and consumer loan distributions by 50+% and allow them compete for a percentage as a profit margin. Profits and savings are of course allowed at each stage of  the productive process from wholesale through to retail. Debt is reduced at its source eliminating most of the very large component of costs that always ends up being interest making Banking just another competitive business model in the economy instead of the dominating one they have become due to their monopolistically and costly control and claim to ownership of credit. Competition is effective throughout the entire process and therefore reductions to costs and so prices will also be the tendency all the way through the productive process. The discount percentage is still macro-economically derived for the other additional costs of businesses, but the percentage would likely be less considering the initial reduction of the high costs of interest as opposed to a flat cost-plus fee.

Then the dividend total consists of any retained earnings of business and savings by individuals, any waste and any costs of re-investment, distributed equally to each person 18 and older. Also, as the dividend renders unemployment, welfare and even quite quickly Social Security taxes redundant they could be eliminated for both businesses and individuals. The totals thus retained by both businesses and individuals could then be computed and additionally distributed equally amongst the number of individuals 18 and older. Pensions could be made completely optional.

The item costs of straight to the consumer mortgage, auto and other big ticket item loans would be reduced concomitantly by the above system.

Finally, as innovation, artificial intelligence reduced employment and increased productive capabilities with fewer resources the costs of production could be reduced and the dividend increased to reflect the additional ecologically balanced abundance possible and everyone progresses together toward a leisure society increasingly able to create their own self determined ideal lifestyle.

Public Banking could be a further reducer of costs for government spending at all levels.

Gracious regulations could be put in place offering options to both individuals and businesses that, like the discount mechanism, are beneficial to them if they invest/utilize savings and profits in ways that improve productivity, reduce costs for everyone and/or  have ecologically sane and beneficial results thus further aligning the systems with that important consideration.

Trump is the face and the spirit of populist fascism. His talk is forceful which resonates but never actually solves a problem and which leads to even more mental conflict which of course leads on to actual conflict. He would make the trains deporting imagined troublemakers run on time. There is a complete absence of grace about him which understandably appeals to people under long term stress who are consequently satisfied with forced and imagined solutions. He is a perfectly reflective metaphor and historical warning of what is to come if we resist the integration of truths, workabilities and applicabilities that is Wisdom and ignore and/or compromise with unethically enslaving economic and monetary systems. Inwardly and outwardly force is the absence of grace, and grace is the integrative transformation of both inward and outward stress creating force into a flow of ethical understanding and patient tolerance. Life truly is an integrated Duality Within a Trinity-Unity.

Wisdom sets before us life and death, blessings and curses, therefore choose life, that both you and your family may live….in peace, prosperity and joyous flow.

All of the problems extant and described above “must” occur only within the wholly unbalanced monetary and economic paradigms of Debt ONLY and of scarcity ONLY. Balance those paradigms with a consumer financial paradigm of monetary grace/monetary gifting and an over all concept of grace as in (mental and systemic) balance and flow and you’ll have a system that includes and allows for both Debt and relative but decreasing scarcity…and yet actually works in a free flowing fashion from top to bottom, from trillionaire individuals and corporations all the way to the person on the street…unlike the present one that inherently erodes profit, purchasing power and wealth and so sets in motion all of the frenzied attempts of millionaires and billionaires to hold onto or increase money they’ll never spend via derivative “weapons of mass destruction” and that equally tempt carry trades and currency wars that eventually erupt into hot wars.

Hypnotized by Debt and Scarcity Psychopaths, and psychopathically unbalanced systems are a bad combo. I suggest we evolve a third alternative like Distributism/Distributive Social Credit, whose paradigm is Grace and whose primary intention is individual freedom. Profit and even power and control can then fit seamlessly and almost entirely benignly…within and beneath those more humane and all encompassing ideas.

It seems that every two thousand years or so the concept of Grace helps Man understand himself better. Re-discovering that concept this time around will not only do that, but also help us understand and apply policy in the economic and monetary systems so that individual freedom and systemic free flowingness can become the reality.

And just in case the “unrealistic” argument is trotted out I remind you I’m talking about a SYSTEMIC policy INTEGRATION of both Debt and monetary gifting. And yet, yes I am also talking about replacing the PRIMARY IDEAS, the PRIMARY PARADIGMS of Debt ONLY and scarcity ONLY with a new paradigm of Grace as in giving back and forth, Grace as in abundance and Grace as in elimination of waste and excess made “necessary” by uber production in a failed attempt to create sufficient demand to equilibrate the system.

Simultaneity/Immediacy/Cancellation effects of monetary policy and the remedying of an inherent scarcity of total Individual incomes in ratio to total costs/prices can only be achieved with a gift of income and a discount to retail prices.

Economists Need to Ask Themselves the Questions:

1)  What Are the True Powers of A Macro-economic Policy, Are profits and Savings and Excess Costs Truly Relevant to Macro-economics

2)   Could a Macro Tool Actually Ignore Them/Eliminate Them Using the Digital Nature of the Money System?

The money system is digital. It can fill a deficit/scarcity of individual incomes in order to balance those individual incomes and total consumer prices simultaneously produced and not have any inflationary effects. It can also cancel/reduce consumer prices to the individual without increasing the money supply by simply utilizing it as a discount to prices and rebating back those discounts to participating merchants by the same amount thus enabling both economic equilibrium and  price deflation at the same time. It uses the Banks money creating and extinguishing capabilities within the economy and between its agents in the interests of both immanent individual economic freedom and systemic free flowingness thus ending the dominating monopoly powers and paradigm of the Banks.

What is it about the nature of QE for the people policy of Steve Keen and others’ call for a “modern debt jubilee”  that makes it so effective? It is its directness to, immediacy for and the depth and inclusiveness to which its policy penetrates to, namely all the way to the individual…and finally, so far as inclusiveness is concerned, its encompassing of both the individual and the system…at the same time, i.e. its unity and simultaneity. 

Directness, immediacy, depth, inclusiveness, interpenetration, encompassment and simultaneity. If one crafts a jubilee/debt reduction policy that has such mystical qualities why not craft ongoing consumer financial policy to effect those same results and make the transformation of the economy complete and actual?  Economists need to think in terms of solving problems like and engineer, not merely palliating it so that it then continues to come back and inflict its misery on nearly everyone.

The money system is digital. It can fill a deficit/scarcity of individual incomes in order to balance those individual incomes and total consumer prices simultaneously produced and not have any inflationary effects. It can also cancel/reduce consumer prices to the individual without increasing the money supply by simply utilizing it as a discount to prices and rebating back those discounts to participating merchants by the same amount thus enabling both economic equilibrium and  price deflation at the same time. It uses the Banks money creating and extinguishing capabilities within the economy and between its agents in the interests of both immanent individual economic freedom and systemic free flowingness thus ending the dominating monopoly powers and paradigm of the Banks.

Keen is correct that disequilibrium is the inherent state of the economy, and Austrians and DSGE types are wrong in assuming equilibrium. But he has not (yet) realized the new idea/paradigm necessary to craft policy on so as to bring it into virtual equilibrium. Getting stuck in disequilibrium is no better than being stuck in a delusional equilibrium. His call for “a modern debt jubilee” is wise and perfectly reflective of that new paradigm for consumer finance that will evolve and transform the money system and the economy and re-establish equilibrium as its ongoing reality so he’s smack dab in the middle of the Rubicon where he’ll either drown if he doesn’t cognite on Social Credit’s insights or continue moving toward its unorthodox other shore.

Both Austrian/DSGE and Disequilibrium Minskyites may hate me and revile me. It doesn’t matter. They’re both/all nascent Social Crediters. And when they give up resisting it…they’ll either eat humble pie and admit It….or be stuck with a boat load of embarrassment and/or self generated disgust at my pesterings for the underlying truth. I don’t give d@mn about any personal apologies. I know who I am so it doesn’t matter. What matters is individual freedom and systemic free flowingness. If I’m perceived as aggravating by the deluded and/or the not yet fully cognizant it is of no effect. For their own sake they might consider the fact that if there is one thing less accurate than economic theorizing…it is long distance internet psycho-analysis.