169 comments on A Long Term Solution to Our Financial Crisis: The Other Forms of Capital
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169 comments on A Long Term Solution to Our Financial Crisis: The Other Forms of Capital
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Well I dunno about that, what about going through life doing what was needed doing without discriminating between self and other as benefactor. Just eliminate debt altogether ... of course along with that we would eliminate all of the drama and comedy of life. I think God would get bored stupid and have to start chucking in snakes or something.
D.Benton_Smith wrote:
Sorry but that's simply not true.
Debt by definition must involve a debtor and a debtee. Meanwhile, when people start using cigarettes or soybeans as a medium of exchange, the result is a form of money and yet no debtors or debtees need be involved.
If debt really was money then the US would be the richest nation on the planet. I agree instead with Martenson that debt is a claim on money.
PS- All or most of what DBS writes further down is correct though.
Debt (credit) gets treated like money in good economic times. In hard economic times, credit (debt) may not be extended any longer but money you already have remains yours.
I agree with you, RobinPC. And the original poster seems confused as to the difference between credit (debt) and money.