Understanding Money & Debt

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Laughing_GnomeVery good point Medial Axis. The cashless aspect had gone out of my mind. I had forgotten the hunt is on for cash and that negative interest rates are one of the likely drivers. Also getting potential visibility of all taxable activity. The reach-in and grab could also happen, but I suspect they wou...

Yesterday

medialAxisLooks like quite a few central banks are jumping on the "block chain" or at least looking to providing a Central Bank Digital Currency (CBDC) and accounts to retail customers. Some down sides might be loss of privacy, tax taken on the fly (up to you to claim it back if it's wrong) and negative inter...

Yesterday

Laughing_GnomeManage to read the article. Good information. So the BofE has 24 clients! Tried once to get them to identify but was refused on "confidentiality" grounds.There's a lot in the mix there. So when they update their RTGS system they want the capability for a / their cryptocurrency to co-mingle. Interest...

4 days ago
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Eloïse SentitoGreat Zak, and thanks for the stimulating discussion last week. More anon I hope....

Yesterday

medialAxisYou can get hold of bitcoin by mining, buying from someone who's already got some or sell stuff, including your labour, for some[1]. Unlike our fiat money, no one has to go into debt for you to own bitcoin. Well, miners have to invest in hardware and electricity before they can earn (mine) bitcoin b...

2 weeks ago

SimonHow do more people get access to Bitcoin if it is getting more difficult to mine ? How can it become more widely used ? Conventional money has the advantage of being retired from the economy as debts are repaid to the bank, although the long term trend is usually an increase in the money supply and ...

2 weeks ago
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Money Creation & Interest: Is there enough money to pay off all the interest? (Part 2)

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This is the second part of our article dealing with the argument that bank lending must lead to escalating debt because banks don't create the money needed to pay the interest on the debt. Part 1 explained how the wrong conclusions have been drawn from the oft-repeated ‘banker on a desert island’ analogy. We showed that it is mathematically (and therefore logically) possible for both the principal and interest of a loan to be repaid.

MarijkeAt this moment I'm lost and having a big headache, because I thougt that I started to understand the system. But now I am lost.My only hope is that Draghi as the biggest moneymaker and illusionist ever wil be dismissed, why he never should have been placed in the position of ECB as former GoldmanSac...

2 weeks ago

Roger Glyndwr LewisThe mechanism for the accelerated growth of indebtedness and corresponding monetary assets – a veritable infernal machine – is described in full detail in “The Money Syndrome” by Helmut Creutz.http://www.themoneysyndrome...The following graph is taken from the book “The Money Syndrome“. ...

3 weeks ago

Bob WelhamAn old PM blog from 2012 that attempts to illustrate the pernicious nature of our commercially issued, debt-based money system, using the maligned "desert island economy" thought experiment. There is no mention of the "is there enough money to pay all the interest" red herring. The real danger is sh...

3 weeks ago
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Roger Glyndwr LewisTest Comment for Zack...

3 weeks ago

Gregory SchoenmakersThere is no question that banks get seigniorage from the money they create but not from the customer deposits which are a liability but from profits on the assets they acquire to back these deposits....

4 weeks ago

Marco SabaSeigniorage: The Honest Government's Guide to the Revenue from the Creation of Money http://leconomistamascherat......

4 weeks ago
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