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Death by Debt

Given that the debt crisis has caused a near doubling of suicide rates in Greece and resulted in tens of millions more people below the poverty line, perhaps we should have a better understanding about debt and why there is so much of it. As a child I was one of those annoying kids who wouldn’t stop asking questions.  This has pretty much continued and one question that has puzzled me particularly is “who is all this debt we hear about actually owed to?” 

MarcImagine a country say the UK, suddenly decides to adopt the policy of creating its own debt free money. All those foreign governments, hedge funds and other major financial institutions holding UK currency (giving it value), will immediately dump it onto the market. With our currency now worthless, ...

September 2012

PJMRichard has written a very good article. However, I believe he should have drawn readers' attention to a paper titled "The Chicago Plan Revisited", published earlier this month on the website of the International Monetary Fund (IMF), and referred to on the Positive Money website. The US documentary ...

August 2012

DozyHoleGreat article.Student loans seems to be the next bubble which will sustain us for the next few years before the creditors realise they will not be getting their money back and need another bailout.Watching 'Born Bankrupt' on sky news, no mention of the link between money and debt, no question of who...

August 2012
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T.H.I.K.The Aztecs had the, at the time, most advanced civilization of the American continent, with a national system of defense, education, health care, infrastructure, etc. Still, they had no money, as we know it. Just saying....

May 2013

SilverSmithDo explain to me why the house asset will "appreciate to many multiples of its present value"....and the mortgage payers do not create the money, the lender creates the money (albeit at the payer's request) and the payer borrows it....

May 2013

Mr M DawsonWhen we talk of the banks creating money we ignore the mortgage payers who are creating money they don't have to pay for their house on a promise to pay in the future. In doing this they are getting possession of an asset which will appreciate to many multiples of it's present value.One solution mig...

January 2012
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