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Thoughts on this anyone? Surely its a good thing and seemingly easy to implement?
sounds good to me
Anyone see this anywhere other than this? Surely this should be wiped all over the TV by now?
Total bollix, nearly as bad as the positivemoney.org nonsense. Hard to imagine the IMF allowed themselves to be associated with it at all, even if the paper does say these are the personal views of the authors.
Money isn't [i]created[/i] by banks, it is already [i]created[/i] by the state.
If you think banks have too much power stop borrowing. We collectively as individuals, companies and governments have become totally reliant on borrowing, that's the problem.
@santacoops - the paper was published in August, it attracted no publicity as far as I am aware. IMO that's because it's total bollix.
If you think banks have too much power stop borrowing.
I have done
@jota that's fine, does your employer still borrow, your government certainly does ? What happens if a fellow citizen borrows and thus prices you out of something you want to buy ?
What I think they mean is "write down" the debt.
Can't just get rid of it, not that simple IMO.
Still, radical thinking for a died in the woll organisation full of academics.
If you think banks have too much power stop borrowing. We collectively as individuals, companies and governments have become totally reliant on borrowing, that's the problem.
If only that were true.. I've never borrowed a dime (excluding a mortgage which I paid off damned quick), yet the gov have decided to pass all the bad debt of banks onto the shoulders of each and every tax payer in the land. What was the point of my own fiscal responsibility again???
Re the OT.. I didnt understand a word of it 😳
does your employer still borrow,
Yes, off me
They borrow my salary for up to 30 days and my expenses for up to 45 days
IMF haven't done anything good since "3a.m. Eternal"
Heres an interesting thought... the IMF has been racking up lending to countries all over the place, once this new government back money is made, and all household debt is wiped, does that mean the IMF keeps it's balance sheets of debt owed to them?
If so, they get paid back in now government backed money?