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Old 22-06-2012, 08:47 PM   #174
aulus agerius
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Originally Posted by swansong19 View Post
He may have been lurking here for years. Or...he may have posted here before under another name. I would think you legal-eagles would be more adept with such comprehensive subtleties.
True, perhaps he has, but I preferred to assume he was telling the truth when he said he was new here (in another thread)

The point has been made, if not by him. The video that this sticky referrences makes that point quite nicely as do many others on the topic.
And had he contributed anything to the idea (as you have), that would've been something to discuss.
No modern society can function without currency. For that reason currency, like water and air, are absolute necessities and, as such, can be looked at as a "right".

Canada did wonderfully spending money into existence through the Central Bank for a goodly while. Helping us fight in 2 World Wars, a National highway across the second largest country on the planet...hospitals, schools, a national healthcare system.....and all of it without breaking the 40 billion national debt level.

Then we changed how we create currency. And in the span of 40 years...just less than my lietime...we've pumped that debt up to almost 400 billion. We now spend 160 million a day servicing the compunding interest on our debt to chartered banks and "foreign investors".

The people that defend the current system are either remarkably under informed.....astoundingly stupid...or profiting handsomely from it.
I'm no expert in Canadian economic history, but many things have changed globally in the past 40 years. Why the certainty that the increase in debt is due to changes in the creation of currency? And the even more complicated question, would Canada have been better off (all other things being equal) if the previous policies on money creation had been continued?

I don't think it's possible, from all this, to conclude with any certainty that giving interest free loans (for a given value of "interest" - any loan which is not entirely free has a calculable APR) are any sort of "solution".
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