Guest: Dr. Armen Papazian. Topics: Dr. Papazian presented his ideas and theories for investing in space based on wealth, not debt. Please direct all comments and questions regarding Space Show programs/guest(s) to the Space Show blog, http://thespaceshow.wordpress.com. Comments and questions should be relevant to the specific Space Show program. Written Transcripts of Space Show programs are a violation of our copyright and are not permitted without prior written consent, even if for your own use. We do not permit the commercial use of Space Show programs or any part thereof, nor do we permit editing, YouTube clips, or clips placed on other private channels & websites. Space Show programs can be quoted, but the quote must be cited or referenced using the proper citation format. Contact The Space Show for further information. In addition, please remember that your Amazon purchases can help support The Space Show/OGLF. See www.onegiantleapfoundation.org/amazon.htm. We welcomed back to the show Dr. Armen Papazian to further discuss his innovative and groundbreaking money mechanics of space theory along with his having received the Alpha Centauri Prize Progenitor Award for his space economics work. You can read more about the award, his theory and body of work at www.keipr.com. Several times during our 1 hour 34 minute discussion, Dr. Papazian referenced his Cambridge University Business School Nov. 2013 presentation, "Our Financial Imagination and the Cosmos" which is at www.jbs.cam.ac.uk/media/2013/our-financial-imagination-and-the-cosmos. During our first segment, Dr. Papazian introduced us to his space economic proposal which is to invest directly in NASA and space commerce by creating money through wealth, not by debt which is the traditional way of getting investment money into the banks to circulate it to industry. As this theory may be difficult to understand, the first segment was devoted to describing how the system proposed by our guest would work, the use of Public Capitalization Notes (PCNs) rather than debt securities, and for the Fed to directly invest in NASA and the space industry about half of their monthly QE3 financial support going to the banking industry. This would put abut $40 billion per month in the hands of NASA and the space industry as wealth investments, not debt. Listeners asked our guest several questions to help understand the proposal, if the plan added to inflation, and to understand just how the PCNs would work. In the second segment, we continued the discussion but listeners also wanted to know more about the plan which seems to bypass the banking industry. Dr. Papazian explained that the banks were not bypassed but that the money would flow to them differently. Instead of from the Fed to be loaned out as debt, NASA and the businesses would get the funds direct as explained in the first segment and then the money would go to the banks in the form of deposits. Remember that the banking industry leverages deposits with reserve ratios to increase their money supply to make loans so by the direct wealth investment in space, banks are still very much part of the process. During both segments, we talked about the advanced technology regarding the space investments yet they were constrained by out of date financial methodologies and instruments. Not only would this new space money mechanics increase space investment, it would also be used by NASA for more education. Also mentioned during both segments was the traditional economic concept of scarcity. Our guest spent lots of time debunking scarcity, especially with space given the vastness of the solar system, stars, all of space. As you will hear, the reality of our environment is that it is not based on scarcity so why should our methods for creating money be based on scarcity. Please post your comments/questions on TSS Blog per above. You can reach Dr. Armen Papazian through me or his website.