No debt, no money?

[jimhcom]

Originally Posted by tallrick

Could it be this simple? If all money is made from loans, does it mean that without debt we have no money? If this is the case would it not be possible to bypass the Federal Reserve and have the Government make the loans themself and charge interest? Would this taking of profits eliminate the need for income tax? It seems very odd that the Government pays interest to private banks for money the banks created out of nothing. Am I wrong here?

The more you study the FED the more surrealistic the whole thing becomes. The truth is the US government went bankrupt in 1933, and made a deal with the FED which outraged a few of the honest men at the time like congressmen McFadden and Lindberg. McFadden actually petitioned to impeach the FED, there were a couple of attempts on his life and he was eventually poisoned, imagine that. If you really study the subject, much of our history in this country revolves around European Banks trying to establish a central bank in the US. It is a much different history than you were taught in school.

[AnnaZ88]

It's a really interesting approach that we can't live without debts. Indeed, we take mortgages, car loans, personal bank loans or short term payday loans because we can't buy a house, a car or some other property at once. Current financial situation all over the world is rather unstable and this factor make us live constantly in debts. At first we look for the opportunity of getting money and then start searching for the way of give them back. Sometimes we fail and apply for debt relief as it becomes impossible to make constant monthly payments on multiple loans.

[CosmicWizard]

jimhcom wrote:

It is a much different history than you were taught in school.

Say it ain't so Jim. It just CAN'T be. You are shaking the foundations of reality. Those who determine what goes into the history books would never, ever lie to us, and purposely mislead us. Like a proclamation from the Pope, everything we were taught in school is infallable. People like you and me need to stop reading the conspiracy theory websites and books, and get out the old history books if we want to know THE truth.

[slackjaw]

Originally Posted by tallrick

Yet people wonder why living standards have fallen for recent generations.

They haven't.