Discussion about this post

User's avatar
Steve Hummel's avatar

All of your accounting is valid, except it assumes private money creation can only be indebtedness. That expresses the current monopoly monetary paradigm of Debt ONLY, and that monopoly concept must be directly broken up with MONETARY GIFTING utilizing equal debits and credits that sum to zero at strategic points in the economic process like retail sale and point of loan signing. This supplemental accounting could be done by either the central bank or the government.

Expand full comment

No posts