Breakthrough in Covid-19 Economics

The World needs a harmless way to destroy money, 
enabling it to print money when needed
By Edward C D Ingram
Edn 2a
I am working on Edn 3. It is a better description of the way the existing financial framework works with a very small number of changes to the new framework description.


Meantime here is a question and answer in the topic from Quora:

There’s a problem to be solved. Most nations confronted with a national emergency do print money, especially if otherwise it could lead to losing a war and being overrun.
This enables the government to harness the production needed to address the problem without borrowing too much.
The USA can borrow almost unlimited amounts because the world uses US$ as a form of international currency and also as a safe haven in times like this.
Will they ever repay it? Maybe not. Maybe they don’t need to. Will they pay the interest? They have cut the interest payable to almost Zero. And they might borrow more to pay the interest. That is as long as people are willing to buy that debt - more bonds.
But there are problems with low interest rates - there is no need to invest the money borrowed in a productive way. Big businesses use it to buy back their own shares and they make a profit that way as do their remaining shareholders.
Others borrow to buy property or to take over a better managed business. They can use the profits of that business to repay the loan.
The problem with printing too much money is finding a way to remove it and so avoid the inflationary consequences. If a way can be found to do that harmlessly, to remove excess money without confiscating it from someone, that would solve the problem. I am working on that and have a discussion going on my draft paper.
When it is ready I may put a copy on my blog here:
Currently that page is blank as far as the solution is concerned.
Looking at the bigger picture - imagine a world economy with no money. Suddenly. The way forward might be to give everyone some money and to allow those in production to borrow more. Is there a way to learn or look for solutions based on that? Am I suggesting doing that? NO. But such thoughts can stimulate the search for answers, such as printing money to feed the world and pay for essentials while they sort things out

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