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I clarify they're strangers who won't ever see one different again, can only make one offer and reply with one acceptance (or decline), and can solely communicate by the initial recipient writing on a chunk of paper how much he'll share with the other, who should then both settle for (writing "deal" on the paper) or decline ("no deal"). As demand falls, businesses lay off staff, who then be a part of these pushed into default. This demand for perpetual growth merely to keep the bankers solvent results in a serious distortion of society's economic priorities. The demand by Wall Street for the eventual repayment with curiosity of practically each dollar in circulation signifies that to avoid collapse, the financial system has to develop to generate demand for brand spanking new borrowing to put new money into circulation to pay the curiosity as a consequence of bankers on already excellent loans.

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Third, Wall Road and the Federal Reserve are joined in an alliance to keep "wage inflation" below the level of development in the true value of residing. We must also get large money out of politics -- reversing "Citizens United" by constitutional amendment if mandatory, financing campaigns by matching the contributions of small donors with public dollars, and requiring full disclosure of everyone and each corporation contributing to (or against) a candidate. Although that is important, the duty goes far past that to a qualitative transformation of an financial system--and society--based mostly on very different applied sciences. The task will take far longer, will require longer-time period planning, and must be achieved in a way that is completely sustainable. But the nature of the task is somewhat different. The government could purchase back its bonds and refinance them at 0% interest through the Federal Reserve--which now buys them on the open market at interest like everybody else--or it may simply rip them up. When Jamie Dimon, CEO of JPMorgan Chase Bank, appeared before the Senate Banking Committee on June 13, he was wearing cufflinks bearing the presidential seal.


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