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

    The issuing of debt is not hard work. It's quite easy in fact. Banks electronically place cash in an account with a few keystrokes.

    Saving is hard and therefore not something that can be done by...
  2. Re: The essense of debt money: Banks have exclusive license to interchange value for promises

    Thanks for the OP Paul, very interesting in its premise.

    But wouldn't you say that humans operate on the idea of "exchanging present value with promised value" in many other arenas?

    Why would...
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