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Did you check out the video? If you want more detail, read the link I posted from the bank England
by mempko 7y ago
Did 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.