4 ms·
National debt? Really? You know that the modern money system IS debt? No debt - no money. And no, debt does NOT have to be paid back. It can be rolled over ind
by LionessLover 10y ago
National debt? Really? You know that the modern money system IS debt? No debt - no money.
And no, debt does NOT have to be paid back. It can be rolled over indefinitely, or, if demands on "payments" really are an issue just go bankrupt. NOT A JOKE. It happened A LOT. I myself - and I'm not that old - have seen three currencies in my country in my life (Germany), my grandparents more. Germany is a horrible 3rd world place... no?
What are people going to do when all they get is "sorry, no more payments on the old debt. Are they going to emigrate to Alpha Centauri? Are they going to refuse to live from now on? No, they will grumble and get back to doing what they've been doing all the time. As long as the government is strong etc. Plenty of examples - see Germany. No that doesn't lead to Argentina - only Argentina leads to Argentina. A countries industry, culture, people, government don't suddenly stop working just because the currency is changed and old debts forgiven. Money does not exist, it's a made-up concept.
> we can't claim that we have an abundance of money - quite the opposite.
Uhmm... what should I tell someone like you? Except to repeat:
Money does not exist, it's a made-up concept.
Guess what happened after the financial crisis - we invented a trillion dollars. Out of nowhere. Suddenly it was there.