> why it's good to have a global economic system that is at great risk if the United States gets rid of it's debt The banking industry makes money when it issu

> why it's good to have a global economic system that is at great risk if the United States gets rid of it's debt The banking industry makes money when it issues loans. So it's very important that people keep borrowing. To keep people borrowing from the banks and not from each other or private savings, the banks are allowed to create money and lend it at below-market rates. So in general, it's always a better deal for a borrower to borrow from a bank than from private savings. The current system is great for bankers, great for government (who can essentially get all the money it wants from the bankers), and great for borrowers. It's bad for people who don't borrow, especially savers.