The theory of the velocity of money is an insignificant fallacy effect. Its classic description is of businesses spending their revenue on consumption at retail sale as if it were their individual income. However, businesses have debts they must pay and this eating your seed corn fallaciously described beneficial effect is just another thrust that would increase the business’s necessity to borrow more, more often, and as you say debt’s continual build up is the ultimate economic problem. So even if this does occur within the flux of the economy it has no beneficial economic effect…except to affirm some austerian pundit’s claim that there’s a lot more money available in the economy than there actually is.

Finally, focusing on commercial liquidity is part of the indirectness problem of the old/current paradigm, and direct individual liquidity/purchasing power trumps it. Systems were made for Man, not Man for systems after all.

…you can’t do 5 re-financings or even 1 with the 50% Gifting/Debt Jubilee policy in Wisdomics-Gracenomics. And there will be a 5 year loan ownership requirement and capital gains taxes on flipping before 5 years also.

What is the most beautiful, fulfilling, enduring and valuable thing in the world?

The actual newness and separate nowness of each conscious moment.

Hi, enjoy your podcast very much. Would love to be a guest. My bona fides for being one are 1) My book Wisdomics-Gracenomics: The New Monetary Paradigm and Its Policies 2) I’ve been a student of Steve Keen, Michael Hudson, Warren Mosler, Ann Pettifor and Ellen Brown since the greate financial crisis in 2007, and basically agree with 99% of their research and conclusions, and 3) I’ve always been intellectually curious,

My claim is that I have discovered the precise new monetary and economic paradigm concept and how best to implement it so as to resolve the economy’s major problems, benefit every individual and commercial economic agent and also enable “splash over” progressions in numerous systems and bodies of knowledge outside of economics and the money system. I refer to this as a mega-paradigm change, of which there has only been two or maybe three before in the history of the species. 

Here is a list of possible questions to help flesh out and elucidate the new paradigm:

What is the precise new monetary and economic paradigm concept, and how does it align with, implement and further the researches of Keen, etc. above?

How is money created and what is the current monopolistic paradigm that needs to be broken up so that the new paradigm can be properly integrated into the economy? (The break up of the monopoly does not eliminate the current paradigm altogether, just its dominance of 99% of individuals and every other legitimate business model.)

What are the primary policies of the new paradigm and what are their beneficial effects and enablements?

What are the signatures of imminent and accomplished paradigm changes?

How do the policies of the new monetary paradigm paradoxically enable us to better confront climate change/global warming, and also recognize the new paradigm for production and resource discovery?

What is the concept behind the new monetary paradigm and every historical paradigm change?

What are some of the aspects of the natural philosophical concept of grace?

Why do I call my book Wisdomics-Gracenomics?

What is the most important and potentially most powerful effect of the new paradigm? Answer: It makes commerce/the economy an everyday, universally participated in, continuous infrastructure for the greatest self actualization of gratitude since meditation and prayer. In other words it is an integration of  the most temporally powerful system with the highest spiritual value mankind has conceived and experienced.

I can provide you with the text of the latest evolution of my book if you’d like.

Please either email me at this address or text me at 602 769 6832 as I do not pick up unless I recognize the number.

Below is the web address of my blog.

wisdomicsblog.com

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Sorry, I found little of value in Chancellor’s history that Keen doesn’t already know and/or disagree with him on. Of course Keen is apparently just as unconscious of where the real problem in economics lies which is the monopolistic nature of the paradigm for the creation and distribution of new money (Debt Only) because he nascently perceives the problem with current macro-economics by saying it ignores “money, debt and banks”…and then he just leaves that insight there instead of trying to discover the new paradigm. That new paradigm and its most efficacious applications is found in my book Wisdomics-Gracenomics: The New Monetary Paradigm and Its Policies.

Delusion at worse and palliative reform at best is the result of not perceiving the operant ideas BEHIND our systems AKA paradigms and then discovering how best to apply the new paradigm concept.

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We would probably be better off with a publicly administered banking system, but considering some of the politicians we have in America now that would undoubtedly be problematic as well. In my book I even have a policy that to paraphrase the godfather “is a proposition the private banks could not refuse.”

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There are systemic monopolies and then there are paradigmatic/conceptual monopolies. All monopolies are problematic because they are about dominance which cannot be ethically justified, but paradigmatic/conceptual monopolies are far more powerful, subtle and difficult for people to perceive because of their long acculturation and because of humanity’s orthodoxy grabbing problem.

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The entire economy exists within the infrastructure of double entry bookkeeping/accounting and it would be easy to determine whether or not corporations were inflating their prices simply by comparing them month to month if not day to day. You simply have to utilize the tool of the first to reduce prices with monetary gifting at strategic places and monitor the statistics of the second to see who is trying to de-stabilize the new monetary paradigm. Then you tax the inflaters at a rate of 100% on any revenue they garner from their inflations and rebate that tax forward to the proceeding enterprise so they don’t have increased cost.

Finally, I suggest we create a new government department called the Department of Competition, Innovation and The Public’s Bully Pulpit that would stick its finger in the eye of inflating commercial agents by exposing them in weekly press conferences. That way they lose the most precious commodity a business can have…the idea that they have the goodwill of their customers in mind.

Wisdom is a purification and integration of truths, a simplification of understanding, and an increased application of ethics and solutions.

Science is a necessary, complex and deliciously interesting analysis of problems…that exists entirely within the digestive tract of Wisdom.

Analyze where both parties promote or inhibit the integration required in the variety of systems and bodies of knowledge the new monetary paradigm will effect.

Cash and gratitude leads to beatitude,

They’re the hammer and hug of human tools.

Pursuing the first and neglecting the last

Is like standing in a hailstorm in the nude, fool,

Is dumb,

But integrating opposites to create gratitude, what wisdom!

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Describes the process and method of the new monetary paradigm

Excellent book. Nice to see you writing about paradigms, however pardigms are OPERANT as in most relevant and key concepts that applied, change the nature of entire patterns by resolving that pattern’s anomalies. Anything less than a paradigm change is just a reform.

Thermo-dynamics are true on this planet. Thats why we need to make the paradigm change from geo-production and resource discovery to cosmic where in a kind of reflective Copernican cosmological paradigm change its present negative planetary effects become irrelevant.

Also nice to see you embracing price controls. Just keep looking at the 50% Discount/Rebate policy at retail sale and 50% Gift of interest to the banks/50% reduction of loan balance to the consumer at point of loan signing until you see them as the remedies for inflation, thus resistance to fiscal deficits and a way to integrate continual debt jubilee into the economic process. You’re great at calculus so I know you can do the simple math.

Understanding how money is created by banks and governments is enlightening, but there is a cosmically huge difference between understanding that and finding a way to make that insight dramatically serve everyone while resolving Macro-economics’ major problems including getting present monetary policy out of the way so we can fund the mega-projects necessary to handle climate change.

Why not double everyone’s purchasing power and macro-economically implement beneficial price and asset deflation at the same time with a 50% discount to everyone at retail sale all of which is rebated back to the merchant with accounting debits and credits so they are made whole on their price? That might actually cause apoplexy to conservative and libertarian pundits. That way we won’t have to wait for them to go away “one funeral at a time”.

Monetary Gifts are their own reserves so no need to issue bonds to provide liquidity for the banks…because you’ve provided it directly to the individual at retail sale. Yes, provide them with bonds when the banks make loans, no harm, no fuss. The FED/Treasury are the handmaiden of the banks even though they are already dominant and the problematic area of the economy. We should by pass them as much as possible.

One of the biggest problems with economics and economic theory is its abstraction and indirectness of effect. Hence a new monetary paradigm of Direct and Reciprocal Monetary Gifting eludes them. Paradox, apparent logical absurdity and complete conceptual opposition to present orthodoxy have always been signatures of historical paradigm changes.

Another example of missing the obvious via abstraction and failing to look directly is that retail sale has been going on a billion times a day for centuries if not millenia right under our noses and yet no one ever saw the efficacy of utilizing accounting operations that sum to zero to monetarily resolve the civilization long trend of debt de-stabilizing economies, as well as other economic problem resolution. Except me, of course.