Quote from: johnyj on November 06, 2012, 01:35:24 AM

There is no big difference between credit from today's saving or credit from tomorrow's saving. The later gives people a feeling that those money are created out of thin air, since currently there are nothing connected to those credit, but if the future is close and sure enough, the difference can be ignored

Very well said!

I guess the only counter argument is that a $ today is worth more than a $ in the future (the first thing they teach you in economics schools). In other words if I want to start a project today and I can either a) borrow the money or b) save for 1 year ... if I choose a) and assuming the project's return rate is greater than whatever interest I need to pay on the loan, I will be better off by starting the project today and not delaying for one year.

However, not everything goes well with all the projects and growing with credit borrowed from future savings doesn't always end well (aka look around in Europe, U.S., etc.). Or like Adrian put it:

Quote from: Adrian-x on November 08, 2012, 02:43:23 AM

The bottom line is the future isn't predetermined; there is climate change, technological innovation and population size, all with unpredictable results. Make the wrong investment today with the futures capital "the thin air" and humanity pays the price down the line.