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What does "debt free" mean exactly? I see a few options, but I'm not sure what you're trying to forbid: * I can never promise to pay someone back in the fut

by Natsu 11y ago

What does "debt free" mean exactly? I see a few options, but I'm not sure what you're trying to forbid: * I can never promise to pay someone back in the future? * I can never draw on more resources than I have? * I can borrow money and never pay it back? This first is doubtful, because you mentioned loans earlier. The last is the case currently, via bankruptcy, but there are serious limits on it. Otherwise no one would ever want to lend money--someone could always just abscond with it. [Edits: better formatting]

ZenoArrow 11y ago
To understand what debt-free money is (and to address how the US money system currently works), I'd recommend this video: http://youtu.be/iFDe5kUUyT0 http://youtu.be/iFDe5kUUyT0 Please note that although there are a couple of subtle hints in the video about returning to the gold standard, the video can still be of use as a general introduction into the US money system even if you don't think that's a good idea (I don't think it's a good idea to go back to the gold standard). Hope the video can be useful for you, I know I found it useful. Feel free to ask me any questions about debt-free money (and how it could be implemented) after watching the video.