Economics: The Covertly Dominating Religious System
Its theorists' concern for the individual is largely abstracted out by the pompous and presumptuous liturgy of science, and its human civilization-long acculturated high priesthood of Finance reigns almost entirely unperceived. Even its adherents are afflicted by it.
We're still working our way through The "Enlightenment" and The "Reformation" because we threw the baby of graciousness out with the bathwater of pre-scientific religious dogmas and the now increasingly monopolistic orthodoxy of Science Only.
Self aware beings unite! All you have to lose are your chains!
“All Truths Are Easy To Understand Once They Are Understood; The Point Is To Discover Them.” Galileo Galilei
The root of our economic problems is the current human civilization long monopolistic monetary paradigm of Debt Only as the sole form and vehicle for the creation and distribution of new money.
And because it is the primary enabler of all economic and productive activity the new monetary paradigm is very likely also the key factor in solving our energy and ecological crises as well.
The Reason The Bourgeosie Slid Back Into OligarchyThey failed to see that the root problem was Finance’s monopoly monetary paradigm of Debt Only as the sole form and vehicle for the creation and distribution of new money, and that the new paradigm of Direct and Reciprocal Monetary Gifting integrated into the Debt Only system would sufficiently unite their’s and the working class’ self interests to dethrone Finance.
Maybe Friedman was wrong. All 3 assumptions behind Friedman's Monetarism were wrong. Most egregious of the assumption that causality went from demand-side money to supply-side inflation. If anything these days causality goes from supply-side inflation causes to demand-side private credit growth. And Fed interest rates > 0% just make it worse.
Economics: The Covertly Dominating Religious System
Its theorists' concern for the individual is largely abstracted out by the pompous and presumptuous liturgy of science, and its human civilization-long acculturated high priesthood of Finance reigns almost entirely unperceived. Even its adherents are afflicted by it.
We're still working our way through The "Enlightenment" and The "Reformation" because we threw the baby of graciousness out with the bathwater of pre-scientific religious dogmas and the now increasingly monopolistic orthodoxy of Science Only.
Self aware beings unite! All you have to lose are your chains!
“All Truths Are Easy To Understand Once They Are Understood; The Point Is To Discover Them.” Galileo Galilei
The root of our economic problems is the current human civilization long monopolistic monetary paradigm of Debt Only as the sole form and vehicle for the creation and distribution of new money.
And because it is the primary enabler of all economic and productive activity the new monetary paradigm is very likely also the key factor in solving our energy and ecological crises as well.
The Reason The Bourgeosie Slid Back Into OligarchyThey failed to see that the root problem was Finance’s monopoly monetary paradigm of Debt Only as the sole form and vehicle for the creation and distribution of new money, and that the new paradigm of Direct and Reciprocal Monetary Gifting integrated into the Debt Only system would sufficiently unite their’s and the working class’ self interests to dethrone Finance.
Maybe Friedman was wrong. All 3 assumptions behind Friedman's Monetarism were wrong. Most egregious of the assumption that causality went from demand-side money to supply-side inflation. If anything these days causality goes from supply-side inflation causes to demand-side private credit growth. And Fed interest rates > 0% just make it worse.
Trust banking works just fine, until some enterprising young banker comes along, and thinks he has an idea to innovate in banking.
Corporate creates investment banking arm and places upstart banker in charge. Soon thereafter, new coin with notes comes into circulation.
Trouble is old bank grows uneasy, as stories about new bank begin to emerge from audit. Trust is gone.
It's surprisingly easy to mix a hint of corruption in any innovation and paper it over with growing receipts. Saw it my entire career.
Innovation is nowhere near the textbook in reality. Distortion is real. Animal spirits, please.
Thankyou. That has answered my question from last week.