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"Most Americans have no idea that the U.S. government once issued debt-free money directly into circulation. America once thrived under a debt-free monetary system, and we can do it again. The truth is that the United States is a sovereign nation and it does not need to borrow money from anyone."
"Most Americans have no idea that the U.S. government once issued debt-free money directly into circulation. America once thrived under a debt-free monetary system, and we can do it again. The truth is that the United States is a sovereign nation and it does not need to borrow money from anyone."
You didn't know that already? You mean all this time I was saying all money is debt and nobody was listening? Actually coins are debt free money because they used to have commodity value, hence they were the real money instead of debt based notes.
Though its more accurately interest free money because its still a debt. A dollar coin is still basically a credit since paying a tax with it gives the government nothing in real value back.
The reason why we don't mint $100 coins is that it would cause people to ask questions. They might begin to figure out that the government produces issues of credit which is free, unlike the banks which charge us interest. They might figure out the national debt is cheap credit and that private debt is expensive credit. They might realize our national money supply is the national debt, and that it only costs us 200 billion a year in future inflation. They might even figure out private credit from banks costs us more than 3 trillion a year right now.
The reason why the crushing private debt isn't mentioned and the public debt is always mentioned is because public credit is its sole competitor and the banks own the media and the government. They don't want us to use cheap post office money, they want us to use expensive Fed-Ex money.
They were originally issued directly into circulation by the U.S. Treasury to pay expenses incurred by the Union during the American Civil War. Over the next century, the legislation governing these notes was modified many times and numerous versions have been issued by the Treasury.
The funding for these notes came as a result of selling $500 Million in bonds during the Civil War. If you are ussing bonds and then using those bonds to back the printing of "United States Notes", its not debt free.
The rest, which was printed and not backed by bonds resulted in massive inflation, especially for the Confederate, and inflation is also not "free"
Money doesn't need to have any relation to debt or credit. Credit/Debt I would say isn't really money at all.
Not really since even if you use a commodity it will raise demand for the commodity beyond the demand for its use value. Thus its still a faith based value assuming it still functions as money. Money is always a claim on wealth beyond its intrinsic value. When the seller sells first he is issuing credit by the sale of the product in the hope he will receive a good in return later. So he is issuing credit. If its a commodity, he can at least have some value as a default this is true.
Money is essentially a lean against the rest of societies production.
Money doesn't need to have any relation to debt or credit. Credit/Debt I would say isn't really money at all.
Perhaps in some abstract universe, but in human societies the use of money has always been attached to debt. Indeed, money is just a way to measure debt....
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