It seems most people do not understand how the economy is built nor understand the difference between money and currency. The US originally had the money based on gold, and it was the key currency to all trade. Now it is more or less an idea of gold, not what we have physically. The government borrows money in the form of an IOU (Bond). With each bond there is interest. Now country’s that are dependent on our trade reinvest by buying our own bonds.
Now for every dollar that goes into our banks, the bank can loan 9. Plus with every dollar we print there is already a rate of det. assigned to it. So you cant pay off the det buy our own money because the money we have already has a det % assigned to it from the beginning.
Now it wasn’t always like this, our money was backed buy physical gold. But now it is backed by nothing. Its basically the wolds biggest pyramid scheme.
Now for every dollar that goes into our banks, the bank can loan 9. Plus with every dollar we print there is already a rate of det. assigned to it. So you cant pay off the det buy our own money because the money we have already has a det % assigned to it from the beginning.
Now it wasn’t always like this, our money was backed buy physical gold. But now it is backed by nothing. Its basically the wolds biggest pyramid scheme.