Money is No Object - Stephanie Kelton

Money is No Object:No Theory, No Controversy Stephanie Kelton, Ph.D. University of Missouri-Kansas City FPA Experience 2012, San Antonio, October 1, 2012

Stephanie gave this same presentation as a segment of this link which is a brilliant discussion:

http://neweconomicperspectives.org/2012/10/modern-money-and-public-purpose-2-governments-are-not-households.html

Her statement that "Money is no Object" has been ringing in the back of my mind since I heard it many days ago here:
http://neweconomicperspectives.org/2012/10/modern-money-and-public-purpose-2-governments-are-not-households.html

I woke up this morning realizing the meaning to me of this statement in different terms (discussed in the prior post) than she used it, the traditional meaning: Money is no Constraint. 

Her statement that I listened to several days ago came back to me in the strangest of ways this morning.  After writing the prior post I thought:  Why not google "money is no object" and see if it by chance (extremely small chance) it might have been used in the context that I now see it (Object Oriented view).

Bingo!  First page of hits.  Stephanie Kelton!  Wow!  She is now one of my most admired people among women along with Yves Smith!

Awesome!

This statement reconciles our two different views of money as no object:

If money was in fact an object cornerstone upon which an object oriented debt free monetary system was developed then money would be no object to constrain the operating of the system!

It appears to me that the only place, the only category where money exists as an object in the monetary system today is the National Debt.  Our National Debt is not debt it is Our National Savings.  There is no negative money, owed money, aspect to it.  It exists as an entity object called money. 

Our National Debt is our Money?????  What kind of an upside down world is that?

Maybe it is the right side up view of the upside down money world we are living in.

The world is round, not flat???? 

Debt should not be the cornerstone foundation of our monetary system?

Is black really white?  (Is red ink really black ink?)

How about this for a conclusion:

The National Debt, the big negative thing that plagues us, is turned into our National Savings and the cornerstone of our debt free money system when we simply re-design the system (by asserting power that is strictly and only the sovereign right of our government) to create money and spend it into circulation.  What we once called our National Debt becomes our National money supply?  The perpetually unspent (but revolving) pool of money called savings at the macro economic level that we use as a medium of exchange?

This is something that I have to think about:  Money as a medium of exchange is the SuperClass object in an Object Oriented Monetary System. 

Money already exists as a SuperClass object but we call it our National Debt?

Boggle my little mind!