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?”
There appears to be a certain degree of misconception out there about positive money’s proposals. I have been told by someone quite knowledgeable in the field that positive money’s proposals involve going back to the gold standard which I am pretty sure is not the case.
Imagine you live in a community with no money and you make furniture for living. Every time you want to buy something you need to exchange an appropriate amount of furniture directly or indirectly for those goods. This has a number of obvious problems.