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Are you arguing that I should be forced to spend my money in a certain way else the government should take it away? Why is what I do with my own money any of y
by niij 7y ago
Are you arguing that I should be forced to spend my money in a certain way else the government should take it away?
Why is what I do with my own money any of your or the government's business?
> money IS debt. The money in your savings account, that you are so responsible with, is money that originated as a bank loan, or government debt.
You're going to need to explain a bit more here. Arguing that money that was _formerly_ debt is still debt when in my possession is gonna take some strong convincing :)
- mempko 7y agoDid you check out the video? If you want more detail, read the link I posted from the bank England
- niij 7y agoI honestly hadn't but just went back and watched it not. Interesting explanation there, thanks for sharing. So the point is, like you pointed out, money is just government debt. Let's say I pay for my education in cash directly to the university, without taking any private or public sector loans. Would that cause a "deflation spiral" as you put it? It's just bypassing a middleman that is unnecessary if I had saved that cash over time to be able to pay for the goods/service I'm receiving (in this case: an education). So, yes, while money may be government debt, I don't see how avoiding private/public loans would have negative economic impacts overall on society.