Vince (Login MoxiFox) Von Klumpen Posted Jun 10, 2012 5:17 PM
You're reflecting the same generally held opinion that ... we OWE something and should pay it.
What ACTUALLY happens is that international banks "lend money" to us ... when in fact they lend us nothing but tokens of promise. They print their money out of thin air and then "lend" it to us.
Think of a monopoly game. The bank issues money to the players so that they can play the game. The bank keeps issuing $200 to every player upon passing Go ... and that's how the money supply is increased for the board players.
Well now, imagine if the bank LOANED money to the players -to be repaid WITH INTEREST.
There's no way to avoid the inevitable --- that the bank will quickly own the entire board ... because there's no money printed to provide for the interest!
And that's how our nations' monetary systems are set up. We don't owe anything except to ourselves -if we print our own money- but when we accept foreign-generated money, we will ALWAYS end up "owing" them everything we have and are.