Your accounting is valid, but it fails to utilize the same operations at strategic points throughout the economic process to resolve the economic problems you also have identified such as chronic erosive inflation and hence diminishing purchasing power, and the continual build up of private debt.

This apparently is because you have failed to recognize the fact that the present monetary paradigm wielded by the private banks is the virtual monopoly concept of Debt As In The Burden to Repay…Only for the creation and distribution of new money.

Break this monopoly paradigm up by integrating the same accounting operations of equal debits and credits that sum to zero with the new paradigm of Monetary Gifting into the Debt Only system at retail sale, point of loan signing and from business model to business model throughout the length of the entire economic process…that will create and enforce beneficial price and asset deflation, hence greatly increased individual purchasing power, demand for commercial goods and services and the reduction of the rate of build up of private debt.

Monetary Gifting has been utilized before. For instance “green backs” were a major if not the major reason the North won the civil war against the South. Of course it was just distributed without utilizing accounting at key points in the economic process (retail sale , point of loan signing and the point of movement from one business model to another) primarily because there wasn’t the digital/electronic capability to do that at the time. We don’t have that problem today…just the failure to perceive paradigm concepts and craft policies around new ones that resolve the anomalies of the current one.