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RE: My thoughts about [why do we need a cryptocurrency]. And why today Steemit is [the most promising] crypto-project.
Nice article :)
I think you miss one thing:
The money based on debt sets up a scam, because the debt can't be paid with products, but has to be paid with new money.
But as at the due date the money to repay the debt as a whole doesn't exist, the only way to repay the debt is to make a new debt.
This generate an exponential debt, that doesn't aim to steal money, or some product: its aims to steal power from the society.
That's why our society is in the hands of a few big companies that rule the world, financing with tons of billions what helps their obscure plans, while obstructing what could lead humanity to an increasing freedom and consciousness!
Well said!
Thank you for your comment! :)
I'm not sure that I understand correctly your idea. But If people and corporations would receive the money as an interest-free loan or a loan with a low interest rate, this debt problem was not there. Anyway, for the maintenance of the system for the exchange of goods and services you have to pay. After all, someone has to maintain it in a healthy condition. That was my idea.
And in a situation when you can't pay the debt possible bankruptcy. Isn't that right? In other words, a Central Bank can simply "forgive the debt". And it is in some sense normal, that not everyone who got a loan will be able to repay. And of course it is Important to ensure that it was not a fake bankruptcy.