Hello Everyone, I have a question for discussion but I am not even sure how to ask it so I will just do the best I can and may refine the question later. I watched a video on Google Video called “Money As Debt” http://video.google.com/videosearch?q=money+as+debt&hl=en&emb=0&aq=f# If you want to wa…

Haven’t watched the video, but that’s the typical monetary crank position - that interest is the root of all evil, it can’t be paid back, and governments should print up money and force the interest rate to zero. Nuts.

Can anyone give me some referecne. Something to read that would help me understand why it can’t work.

Why don’t price controls work? Apply price control theory to the interest rate being forced down to zero. -Jon

What I would like to see is a rebuttle to the theory that if all money is debt, there cannot be enough money in the system to repay all debt and that the bankers will end up with all the money. I know it’s nonsense, I just can’t quite explain why.

Sounds awfully familiar to the compound interest paradox. Mayhap you should search for some of the discussions on it on this site? -Jon

Since money is not debt the argument fails right there. Real money is a commodity that is owned. It makes no more sense to say all money is debt than it does to say all shoes are debt, or all pans are debt. Ficuciary media on the other hand represent a claim to money, a promise to pay which can be c…

The money in circulation from the federal reserve is loaned out to us at interest. They could suck up a lot of money, but probably not all of it because people would just default etc. “Neither a borrower nor a lender be” - Polonius

It’s like this - banks have no interest in collecting all the money. If they did, it would no longer be money because normal people couldn’t use it as a medium of exchange. Banks want to earn interest not to reloan it for a greater slice of the money supply, but because they can use it to buy real g…

The ‘shaving coins’ argument seems silly as well. We’d still be using paper or digital currency, it would just be backed gold or silver. If you want to actually redeem that for actual metal, you’ll probably get jailed if you pretend your gold is worth more than it actually is. I think the fraud pro…

Money As Debt

Economics Economics Questions

hayekianxyz October 9, 2008, 9:18am 8

This thread I think: BIS Report Introduction: the unsustainable has run its course - #13 by fsk

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Money As Debt

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