Home › Forums › Financial Markets/Economics › Could this really be how our money is created?
http://www.zerohedge.com/news/michael-maloney-we-pay-tax-privilege-have-currency
It sounds correct but I am not sure if he is missing a step or not?
My father and I used to have endless conversations about money and debt and how it is simply not possible to have money creating money.
Today we have trillions more in debt than currency to repay that debt.
To resolve this dilemma we can borrow more and kick the can down the road.
We can print the currency to repay the debt.
We can default.
Because the debt is now at a tipping point and deflation is setting in growing our way out is looking increasingly unlikely.
He explained fractional reserve banking quite well. Here is a more indepth history of the illegal organization:
End the Fed! Ron Paul 2012!
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