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Joined: Nov 2006
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Carpal Tunnel
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Carpal Tunnel
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A mortgage represents debt, not credit.

Currency is used for day-to-day exchange. The inefficiency of actual currency has led to a credit based system.

NOT a debt based system.

In your search for examples did you look in your wallet?

Probably a lot more credit in there than cash. You don't actually run into debt until those are all used up.


Good coffee, good weed, and time on my hands...
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Debt Jubilee
Quote
Where the American dream used to be owning a home with a white picket fence, now it is getting out of debt. For many, the humble aspiration of owing zero dollars seems out of reach.


“You never change things by fighting the existing reality.
To change something, build a new model that makes the old model obsolete.”
– R. Buckminster Fuller
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I'm reading another interesting book, "Indian Givers", by Jack Weatherford (1988). I'm only in the first chapter titled "Silver and Money Capitalism", and the context is the Conquistadors looting the Americas. What happened was the immense quantities of silver taken to Europe were mostly turned into coinage, which drastically increased the money supply. One of the effects (among many) was inflation - caused by increasing the physical money available and an associated decrease in its value.

It actually made me laugh! Humans are sooo predictable.


“You never change things by fighting the existing reality.
To change something, build a new model that makes the old model obsolete.”
– R. Buckminster Fuller
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It did have the effect of concentrating power in the royals who controlled the mints. They didn't just hand all that silver to everybody. They bought stuff with it. The peasants didn't have any silver coins. Maybe had never even seen any! The people it hurt were non-noble rich people who had a treasure stash of silver coins.


We're flying electric helicopters on Mars yet you can't turn on your clothes dryer in Texas. That's because scientists are in charge of Mars, and Republicans are in charge of Texas.
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