A point that your good self, and probably JP Morgan missed, is that solar energy powered communities on microgrids with 24/7 year round hydrogen backup, will have excess hydrogen.
This replaces fossil fuels with none of the pollution so is valuable product, which can be sold or exchanged, giving the community a solid permanent income.
Communities realising this will tend to put some earned revenue back into their facility to maintain, and even scale up, so as to maximise their future revenue.
The effect that then would have in economy, is actually no different than if no hydrogen was created, and the community just pushed their excess energy back into the grid, receiving a little revenue from it, either way, valuable economic product is added to the global economy.
But the money issued, only as debt, which is promises to pay, can only be redeemed by doing the work of extraction. So it only enummerates product created from extracted energy, not energy received for free, since there is no work associated with receiving solar.
It follows that there is already an amount of solar product created, which has not been reflected by issue of money.
It turns out we can calculate the amount outstanding roughly by comparing demographics data with utilities energy data.
Look for where the demographics data begins to stop tracking demographics data.
In UK it was around 2005, when utilities energy suoply/use began to decline.
Since then the population has increased by more than 10 percent, but utilities energy use has dropped by 20 percent.
That is not a small effect, it is huge, with huge implications.
Deducing that the difference is due to adoption of community and domestic solar, we can start to put numbers and prices on it by integrating it over time, and putting the applicable per unit rates on it.
In UK it is more than 500Bn outstanding.
For 2022 alone it was 50Bn, added to the previous years total of 420Bn.
Next year it is likely to be around 160Bn added, at current rates of change.
This is money owed to the public, not the other way round.
It has to be delivered to the public as money representing the actual product put to use, for money to represent anything at all, now that utilities energy supply and use is tending to zero.
I guess this changes your analysis, but it isn't surprising you missed it. It has taken me the best part of six years to get my head around explaining it, since seeing it coming about six years ago during PhD candidate work, after nearly thirty years and two energy related patents as a Systems Engineer, beginning as a hardware Engineer, in the Utilities energy metering business.
It is much more surprising JP Morgan seem to have missed it, given Nikola Tesla was the first to identify that free energy means free money, 120 odd years ago, until he was defunded from his project intending to deliver the same, by his only funder, JP Morgan, the man himself.
If JP Morgan had not defunded Tesla back then, and Tesla had been successful, the JP Morgan project of banking would have become redundant, and we would most likely have avoided two world wars, nuclear power, nuclear weapons, and a third nuclear war, and the global climate disaster pending now.
Whether JP Morgan is big enough to ever admit to that, and just issue the free money outstanding, effectively making themselves, and probably most government, and most industry, redundant, whilst finally empowering the whole of humanity, is the big question, of whether or not humanity continues at all, I think.