I have had a fairly explosive few weeks making great strides in realising my goal of defining and delineating a model for an Energy-Based Currency System and a Currency unit embodying Entropic principles.
The following is a sort of Mind Mappy Sketch. A list of ingredients which combined and quantified will be a recipe.
The VPRO Circular economy documentary seems to chime with the PMM conclusions of your first model
If one just accepts that there is nothing to redeem the existing Finance System getting on with rebasing money to
Either Joules or KWH equivalents in the three categories of Primary Intermediary and Consumption
And noting the Hoarding aspects of energy in long-term capital assets and applying something akin to the single land tax on them, we really can get somewhere near to a sustainable Birth Right economy.
Where it gets very interesting is in the Information economy where shared knowledge doubles the knowledge it does not half it. Richard Stallman (GNU) often makes that very point.
To satisfy the need for Status in the Social Animal Humans Kind ( see Pigou Dalton Principle for a Theoretical framework for Taxation boundary conditions. ) Anyhow it is in the space of non monetised social interactions where the second sort of discretionary token can be created on a blockchain providing the necessary ornament and display trinkets which determine the mating game? I will not elaborate here but Forres / Lagom the community system I have been working on has the idea that it is Mineable or winnable or giftable, The Distributed computing platform Steemit has something called proof of Brain which is a species of the sort of on-line social success measure which can easily be monetised to provide a competitive element to the Production of both the Birth Right token and the Discretionary speculative mating game side of the sustainable circular economy.