I’m no economist, but I know that in the past (Lincoln with greenbacks in the Civil War), government have just “created money” that did NOT come with a debt. No interest due to the issuer. The money circulated, people were paid wages, debts were paid, the economy grew and value was created that matched the issued money. This has worked.
But the Central Banking model is different. As a Central Banker, I can let you borrow $100, but you need to pay me back $105. Where does that other $5 come from? Oh, I’ll just create it. But if you need it (to pay me back) you’ll have to borrow it from me. And then pay me back a bit more than $5.
This game can go on a long time, and the Central Bankers always win, because it is a rigged game. But we’re now playing with Trillions, and the unsustainable game is pretty obviously unsustainable.
They say we cannot repay the debt.
They also say that we cannot default on the debt.
They say ruinous inflation is the only way out.
IMO, defaulting on the debt is less ruinous, and although many will suffer, the ones who will suffer the most are the Bankers. I say it’s their turn.
“but I know that in the past (Lincoln with greenbacks in the Civil War), government have just “created money” that did NOT come with a debt.“
Bankers thoughts, in The London Times editorial at the time.
“If this mischievous financial policy, which has its origin in North America, shall become endurated down to a fixture, then that government will furnish its own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world; the brains, and wealth of all countries will go to North America. That country must be destroyed or it will destroy every monarchy on the globe.”
I highly recommend this documentary. It is long but worth every second spent.
https://m.youtube.com/watch?v=mB-pdPaQNKA