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If governments paid off their debt, there would be no money. Money IS debt.
by mempko 8y ago
If governments paid off their debt, there would be no money. Money IS debt.
- appleflaxen 8y agoyou keep posting this all over the thread, but it's not true. money requires no interest payment. debt does.
- saganus 8y agoThere's a very interesting explanation on why you can consider money as being debt by Paul Grignon [0]. Of course, there are critics of this view and it's not necessarily 100% correct, but it does seem plausible. [0] https://en.wikipedia.org/wiki/Money_as_Debt https://en.wikipedia.org/wiki/Money_as_Debt