TruraBuoy Posted September 2, 2009 Share Posted September 2, 2009 Linky Quote Link to comment Share on other sites More sharing options...
AteMoose Posted September 2, 2009 Share Posted September 2, 2009 (edited) debt is wealth, we have a debt based money system all money is debt. The more debt you have the more money you have. If you need to pay more more interest you create more money either by getting further into debt, printing it, or dropping interest rates. Why cant 'debt' increase for ever, it doesn't mean anything Debt IS wealth ever since the end of the gold standard. I agree with pete stark, this is the way of the world Edited September 2, 2009 by moosetea Quote Link to comment Share on other sites More sharing options...
scottbeard Posted September 2, 2009 Share Posted September 2, 2009 Money may be debt, but wealth isn't. The only wealth of any true value is "things" - land, stuff, skills. Increasing debts doesn't give us any more "things" and so doesn't create any wealth on its own. However, it can indirectly if e.g. I borrow to buy equipment then use that equipment to make things. Quote Link to comment Share on other sites More sharing options...
athom Posted September 2, 2009 Share Posted September 2, 2009 California is he not too shocking that Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted September 2, 2009 Share Posted September 2, 2009 Of course debt equals wealth, just look at all the debtinaires we have, rich on paper but poor when the economy collapses revealing they have no real wealth. Debt is wealth. Quote Link to comment Share on other sites More sharing options...
Guest Parry aka GOD Posted September 2, 2009 Share Posted September 2, 2009 Money may be debt, but wealth isn't.The only wealth of any true value is "things" - land, stuff, skills. Increasing debts doesn't give us any more "things" and so doesn't create any wealth on its own. However, it can indirectly if e.g. I borrow to buy equipment then use that equipment to make things. Good post. You can't actually print human ingenuity, resource and production. Quote Link to comment Share on other sites More sharing options...
Parkwell Posted September 2, 2009 Share Posted September 2, 2009 This is a great find (not seen this guy before). Here's a short video that will get a lot of people here really pumped up. Is taxation voluntary? Quote Link to comment Share on other sites More sharing options...
Guest DissipatedYouthIsValuable Posted September 2, 2009 Share Posted September 2, 2009 Good post. You can't actually print human ingenuity, resource and production. But you can touch her up if she'll let you. Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted September 2, 2009 Share Posted September 2, 2009 Someone else's debt may well be my wealth. The problem is when people believe their own debt = wealth in and of itself. Quote Link to comment Share on other sites More sharing options...
babesagainstmachines Posted September 2, 2009 Share Posted September 2, 2009 I love it when they say Mr P Investor has a portfolio of 200 properties worth 40m. They conveniently forget that he owes 39m to the bank. Then property price fall by 20% Quote Link to comment Share on other sites More sharing options...
Alan B'Stard MP Posted September 2, 2009 Share Posted September 2, 2009 Good post. You can't actually print human ingenuity, resource and production. No - but you can print these I, ______________________________ promise to be ingenious, resourceful and productive. Signed A. Mugg Quote Link to comment Share on other sites More sharing options...
The Spaniard Posted September 2, 2009 Share Posted September 2, 2009 (edited) Commercially issued debt-based money ensures that the means of exchange is borrowed into existence at interest from profit-motivated issuers. The non-banking, non-issuing sector of the economy is forced to pay substantially for the existence of a universal means of exchange, a utility which is of course absolutely essential for a modern complex economy. The size of this cost to productive enterprise may be very roughly approximated by multiplying the size of the money supply (borrowed into circulation) by the interest rate differential between what the issuers charge to lend it minus what they pay when it is deposited back with them. For the UK a (very rough) guestimate for this might be £2,000,000,000,000 x 5% = £100,000,000,000 p.a. So, we pay something of the order of £100 billion per year to the commercial banking system for the provision of our debt-based means of exchange, a utility that we could provide collectively debt-free for ourselves at negligible cost. The above is simplistic and schematic, but I hope that it illustrates one obvious absurdity of our money system. Source for M4 estimate of £2T: http://www.bankofengland.co.uk/statistics/...rrent/index.htm Edited September 2, 2009 by The Spaniard Quote Link to comment Share on other sites More sharing options...
Authoritarian Posted September 2, 2009 Share Posted September 2, 2009 (edited) Commercially issued debt-based money ensures that the means of exchange is borrowed into existence at interest from profit-motivated issuers. If only. They find they can't make a profit because of the housing market. The land market ruins everything because it draws resources away from the productive part of the economy and forces them unproductive part making any sort of profit harder and harder to come by. People only invest in land to use as a vehicle for taking away from others. Edited September 2, 2009 by chefdave Quote Link to comment Share on other sites More sharing options...
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