Post
Topic
Board Economics
Re: The Myth of Government Debt
by
Iseree22
on 11/10/2011, 06:31:08 UTC

You see, it's the private banks that create the currency, and it's the governments that borrow this money from them. With compounding interest.


Don't worry your not the only one that has been conned into believing this. This is partly true, private entities create Horizontal Money(Credit Money), and the State creates Vertical Money

Quote
The debt is evil indeed. Because for instance in the USA this debt shouldn't have existed in the first place, as according to the constitution it is congress only that has the right to print and issue money.
And so, as the national debt of the USA has been created illegally, there is no legal necessity to pay it back.
And the same goes for the interest.

What have you been smoking?? The debt-limit is the true source of Vertical Money in the U.S, which is under Congressional Authority, so yes, currently as it has always been, Congress remains the body with control over the creation of money(Vertical Money).

You obviously have not read and understood what has already been written in this topic, please do so!