In today’s installment, Part 1, That Ain’t the Half of It, EconomicStability’s Joe and Pete discuss the benefits to society of a debt-free monetary system beyond zero national debt ( as explained in Pete’s article “The Mother of All Free Lunches”.) For one thing, becouse banks will only be able to lend real money, the depositor will become a much more powerful player than he is now. Taxes will be lower, in part because we will pay for things once, not two to three times over, the way we do now with the private money creation system we have now.
In today’s installment, Part 1, That Ain’t the Half of It, Joe and Pete discuss the benefits to society of a debt-free monetary system beyond zero national debt ( as explained in Pete’s article “The Mother of All Free Lunches”.) For one thing, because banks will only be able to lend real money, the depositor will become a much more powerful player than he is now. Taxes will be lower, in part because we will pay for things once, not two to three times over, the way we do with the private money creation system we have now.
Today’s installment continues with Part 2, Privileges of the Money Power: Seigniorage and Interest.
