It is really cool to research history to try to make sense of the present, thanks for posting.
But a few relevant things are different; we now have the internet, and almost complete automation of industry. All fiat currencies are now inter-dependent on the financial health of all countries. Our planet is under obvious environmental distress. We are very far from defeating covid. Free money with no obvious possibility of balancing with wealth generation has already been issued to all people, enabling all to participate briefly in the markets, with no interest in profiting, since their money pledged was free.
In other words, they were donating, rather than investing.
The internet, and digital money give us a paperless financial network which is capable of supporting unlimited, continuous transfer of wealth, and continuous, instantaneous market signaling from to all people, to all people. That is like a system of wealth transmission pipework connecting all people which is currently only very slightly filled here and there, each time a discreet transaction is made between people.
The Fed or central bank appears like a large, gated, storage reservoir, like all the other smaller reservoirs held by people and companies with stores of wealth. When a transaction is made, a gate on a source reservoir is opened, and the wealth flows from that storage reservoir, to destination resorvoirs which also have their gates briefly open, as a kind of discrete pulse, through the pipework.
Now imagine somehow we found an infinite source of wealth, which could be plugged into the system, to fill one one or more reservoirs in the system.
Now imagine all the gates, on all reservoirs are opened, allowing continuous flow through the system, to all consumers, both corporate and individual. In that case we would see wealth flow from the infinite source to all other points in the system. Since the source supplies more than all of the consumers put together can consume, the pressure in the pipes build up, and we begin to see wealth literally forced through the system to all who need it. The pressures at each point in the system resolve to market values. No consumer to consumer transfers are necessary since all wealth now comes from the source. All consumers simply become wealth assigners, assigning donation wealth flows to the causes they see as most desirable or most in need, from their own feed from the source, thus multiple consumers directing funds to the same consumer will boost the pressure / value at that point.
Can you see how much more empowering, and value generating this continuous flow system is, than the transactional system seen to date?
It might sound crazy, given we’ve never seen anything like it in the known history of humanity, but the system already exists, with minimal modifications required.
The infinite source also exists. There is only one; the sun.
It deposits an endless blanket of photons on Earth, far more than we can ever use for the forseeable future. Its energy converts directly to wealth in all forms of currency, including matter and information, using routine technologies we already have.
It can be switched on right now, by opening the gates on the main reservoirs, the fed / banks, on the condition that we quickly plumb in the infinite source, in the form of industrial scale solar power, to keep those tanks supplied by genuine, accountable wealth.
In other words, by turning on the free money sources, and leaving them on.
All the rest would quickly follow, automatically.
The existing debts of all people and corporates can also be transferred to the same deficit, now a deficit between us as a collective, and our planet receiving the energy of the sun.
This would drive us towards 100% solar power in a very short time, funded entirely by free money.
Note also, all ideas of profit automatically become obsolete in that new mode of business, all load on the planet from human energy consumption is removed, and any and all humans have the means to initiate, participate in, and be rewarded for any project, so all people are literally free to do as they choose in the future, for work or otherwise.
I am just one of billions who can potentially see this as the way ahead, in fact, the only way ahead.
For sure there will soon be enough to demand the free money is switched on, and left on.
Then we are going to see something truly worth giving away any fortune for, something never seen before in our known history.