Look at the total current debt including all entities (government, private, corporate) and look at what the money supply is. There are many multiple times of debt than there is money supply to pay off the debt. If commercial bank debt is paid off, money supply contracts, making even less money to pay debts. Think it through logically. Make up a simple model where all money is created via debt and try to make it work without debt continually expanding. It is a Ponzi scheme. John
Edited by John Burns 5/25/2015 22:49
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