[Twilight]

Oh my god, what bullshit.

Check this out.

$this->bbcode_second_pass_quote('', 'D')ebt is basically fine. In fact, we're coining it in the UK, with more wealth stretching ever further ahead of the amount we owe.

The people in trouble - who do exist - are a tiny minority accounting for a vanishingly small part of the trillion. Most debt is a sign not of penury, nor impending crash, but prodigiously increasing wealth.

[dukey]

yeah debt is real funny
when u can't pay anymore
they just come and liquidate all your assets !

[OilIsMastery]

Perhaps you are unfamiliar with Alexander Hamilton but the reason why debt is good is because it creates credit. Without debt you can have no credit. This is why the United States of America has had a national debt since the Founding Fathers.

[dukey]

what you say is true
but there gets to a point where it becomes impossible to pay the interest

and then ure fucked

[mmasters]

$this->bbcode_second_pass_quote('OilIsMastery', 'P')erhaps you are unfamiliar with Alexander Hamilton but the reason why debt is good is because it creates credit. Without debt you can have no credit. This is why the United States of America has had a national debt since the Founding Fathers.

[vision-master]

$this->bbcode_second_pass_quote('OilIsMastery', 'P')erhaps you are unfamiliar with Alexander Hamilton but the reason why debt is good is because it creates credit. Without debt you can have no credit. This is why the United States of America has had a national debt since the Founding Fathers.

[Plantagenet]

$this->bbcode_second_pass_quote('mmasters', 'H')amilton ... wanted to ... form a central bank (the First Bank of the United States). He ultimately failed in his quest.

[vision-master]

And why does our Government need to go through a private corporation for issuing money?

[OilIsMastery]

$this->bbcode_second_pass_quote('vision-master', 't')hose Jewish Bankers

[vision-master]

[mattduke]

$this->bbcode_second_pass_quote('vision-master', 'A')nd why does our Government need to go through a private corporation for issuing money?

[Denny]

[quote="mattduke]Go farther. Government is unnecessary for money. Money is a spontaneous free market phenomenon that requires no government regulation whatsoever. Carl Menger provided the answer in 1892.

Carl Menger[/quote]

Canada had no central bank until 1934. FromWikipedia - "Bank of Canada":
"For many years, Canada did not have a central bank. Each of the nation's large banks issued its own currency and there was little government regulation of the nation's money supply. The federal finance department only issued small denomination bills. The Bank of Montreal, then the nation's largest bank, acted as the government's banker. Canada, with its extensive branch banking, had a very stable banking system. There was little need for a lender of last resort and the banking system was not hit by the same seasonal liquidity problems as banks in the US. "

In fact, prior to 1934, the Canadian and U.S. dollars had a close exchange rate, it has just been since then that the central banks of Canada and the U.S. shifted away from gold backing that the rates of exchange between the currencies hasve fluctuated so much.

The central banks give the government another opportunity to play with the economic "levers". Lots of fun. Of course they all claim the central banks (or "reserve" banks) are beyond their control. They want you to think that, because, when it comes to money, politicians have reputations on par with bank robbers. In fact, bank robbers don't lie as often as politicians do.

[CrudeAwakening]

FG, the World Bank was created at Bretton Woods in 1944, along with the IMF.

[TheDude]

$this->bbcode_second_pass_quote('ferrelgiraffe', 'Y')ou could use diamonds instead of paper money.

[mattduke]

$this->bbcode_second_pass_quote('Denny', 'C')anada had no central bank until 1934.