Posted by Ken Waldron on August 5, 2023, 3:37 pm, in reply to "Exactly."
All money is created as debt. With interest that must be repaid. Save the planet, kill the banks.
As someone pointed out to me many years ago: "...Ah! but they don't create that "interest" as debt...so where does that money come from?"
"Shuffling" other debt monies I imagined...but its an interesting question because it points out that there is never actually enough money created by a money-as-debt system to pay the capital plus the interest.
This can of course be substantial: our biggest borrowing is for a house and over the period of the mortgage that interest amounts to several times the actual purchase price.
Of course a substantial amount of money must clearly created without interest by government to pay all public employees for one: just how much I'm not sure but the government must create at least thirty/forty percent or so....taxation being given as the supposed source.