On the problem of completeness of QM: von Neumann against Einstein, Podolsky, and Rosen

We performed a comparative analysis of the arguments of Einstein, Podolsky and Rosen -- EPR, 1935 (against the completeness of QM) and the theoretical formalism of QM (due to von Neumann, 1932). We found that the EPR considerations do not match at all with the von Neumanns theory. Thus EPR did not criticize the real theoretical model of QM. The root of EPRs paradoxical conclusion on incompleteness of QM is the misuse of von Neumanns projection postulate. EPR applied this postulate to observables with degenerate spectra (which is totally forbidden by the axiomatics of QM).