The Douglas principles were partly adopted in Australia in the 1930s in an infrastructure scheme: the Snowy River Irrigation plan and money was directly created to equal the wealth of the scheme, increasing national prosperity accordingly.
This independence of thought and a substantial Jewish population, may be a reason why
Australia has a banking system that did not succumb to the USA originated ravages?
The problem is the provision of credit. It should be restricted and that is the only good thing about a depression.
Sadly, we also have to pay off poorly invested debt as well!
Technology etc will come to the fore as the bankers who restrict genuine risk taking, lose all power.
They restrict it as they owe cronies the chance for them to invest all that money they have made! So they waste it, in sum, while they make a profit, the beknighted purchaser finds it falling in value with the restriction of credit.
Thus the wheel turns. As the assets collapse in value, those who made money pick them up when they wish, for far less than they sold them! I admire the thought and guile displayed by those who ensure this process is repeated, once or twice a century! They may even make money from arms, by waging war on those who establish other forms of credit creation:
Thus we are destined to relive the cycle! As Islam assumes more significance in commerce, their ban on usury may attract hostile action if that thesis is correct.
The wholesale concentration of power that such a cycle of cycles tends to produce, means wealth beyond all national control?
What are the purposes and objectives of the people who control this wealth? How do they decide to whom to delegate the power entailed in this wealth? By controlling credit, they can microsoft out all opposition by buying out competitors or destroying them etc.