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  1. Re: The essence of debt money: Banks have exclusive license to interchange value for promises

    Cash flows and balance sheets are not the same. An economic/monetary system can sustain interest payments in perpetuity, so long as those payments are but a modest portion of cash flows.

    Interest...
  2. Re: The essence of debt money: Banks have exclusive license to interchange value for promises

    Unfortunately, at least in my crystal ball (which I bought used and cracked, for 25 cents, at a local garage sale), the banking system will survive just fine.

    Rather we are just entering a period...
  3. Re: The essence of debt money: Banks have exclusive license to interchange value for promises

    The interest is not the whole story.

    The interest is but one of the means of ratcheting up the proportion of debt to equity.

    The kicker comes when the debt so vastly exceeds the equity that...
  4. Re: The essense of debt money: Banks have exclusive license to interchange value for promises

    Jim Willie, of GoldenJackass.com, has a quote in this month's subscription newsletter that reflects some of what I suggesting in this thread, and states it more clearly and accurately than I have:
    ...
  5. Re: The essense of debt money: Banks have exclusive license to interchange value for promises

    Absolutely, Silkie ... I had a mind to post that very song in this thread myself ... one of my all time favorites.

    Here's an earlier version, sung by Tennessee Ernie Ford, that reached number one...
  6. Re: The essense of debt money: Banks have exclusive license to interchange value for promises

    Yes - another way to list some of the key memes that are ordinarily used to explain our monetary system and its inherent flaws.

    I am suggesting that the central, core, essential construct behind...
  7. Re: The essense of debt money: Banks have exclusive license to interchange value for promises

    Absolutely. Plants form seeds, reptiles eggs, beavers dams, birds nests, ants tunnels, mammals spend years raising their young, deciduous trees protect their reservoir of "food" in their roots...
  8. Re: The essense of debt money: Banks have exclusive license to interchange value for promises

    That is another excellent example of my thesis - binding the US Dollar system to the dominant energy source presently in use. Immense resources are expended, and immense wealth and power, or least...
  9. Re: The essense of debt money: Banks have exclusive license to interchange value for promises

    This is the classic argument against interest bearing debt ... it compounds exponentially.

    The primary point of my opening post is that even if debt never bore any interest, the pump and dump...
  10. Re: The essense of debt money: Banks have exclusive license to interchange value for promises

    Sometimes ... but not always. When an individual, business or government takes out a loan, it is they who hold the promised value, their future income, which falls short of what is necessary to make...
  11. The essence of debt money: Banks have exclusive license to interchange value for promises

    There are several memes popular in the alternative media attempting to explain what is money and what are the fundamental flaws with our current monetary system.

    For example, some of these popular...
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