  Four radical ideas are presented. First, that the rationale for cancellation
of principal can be modified in modern banking. Second, that non-cancellation
of loan principal upon payment may cure an old problem of maintenance of
positive equity in the non-governmental sector. Third, that crediting this
money to local/state government, and fourth crediting to at-risk loans that
create new utility value, creates an additional virtuous monetary circuit that
ties finances of government directly to commercial activity.
  Taking these steps can cure a problem I have identified with modern monetary
theory, which is that breaking the monetary circuit of taxation in the minds of
politicians will free them from centuries of restraint, optimizing their
opportunities for implementing tyranny. It maintains and strengthens the
current circuit, creating a new, more direct monetary circuit that in some
respects combats inequality.
