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a more perfect fiat for our currency

Days

Commentator
Let me preface this by stating that ALL our money is created out of thin air... all of it. So pleeeeeeeeeeeze, do not reply and tell me that it would be wrong for the government to just print up money.... when do you ever outgrow that one? ALL your money is created out of thin air; if you want money, it has to be created... you know why? cuz your money is a fiat currency, not precious metals.

Those of you who know me know that I use the term "currency" for all the money in circulation, no matter what form it is circulating in.

Okay, so here's the top post: I think tax reform is a reasonable thing to do and that a reasonable rate for today's distribution should hold rates to nothing for up to $100,000 and then begin to slowly rise to 5% for incomes up to $250,000 and then continue to slowly climb to 10% for incomes up to $400,000 and progress on that curve until it hits 90%. Hence, a person making over $2.5 million per year can expect his income over the $2.5 million mark to be taxed @ 90%.

The whole point of taxation and a fiat currency is to achieve reasonable distribution. But the question arises; what is reasonable? The rich would have us believe that reasonable is the present distribution where they own everything and the bottom 50% of society is getting tossed in the streets. That makes perfect sense to them but why should it make perfect sense to the rest of us? "Spreading the wealth around" is exactly what a fiat currency is supposed to do. But is that what we are doing with our currency today?

Now for the rest of the story.

The government needs to get in on the creation of its own money. Currently, 100% of our nation's currency is created by and owed to the banks. 100%. Again, that is perfectly reasonable to the banks, but should that be perfectly reasonable to the rest of us? The government should be making their payments with their own issue, the only need for taxation is to keep society from being controlled by the super rich... anathema to a democracy (always was and always will be).

Your minds have been thoroughly brain washed with the teachings of the super rich. Social Education in America amounts to a single lesson: how to be good slaves for the money masters. Lesson #1... viciously attack anyone who says you have a right to freedom, because freedom only comes from owning wealth, and you are a slave, you have no right to wealth/freedom. And I must say; this board is chock full of good slaves, Uncle Tom would be proud of all of you.

That's just taxes. That's easy. The bigger problem is currency exchange with other nations. International trade used to be with real money, as it should be. Gold or silver has the same value the world over. But these fiat currencies are terribly uneven species, and the trade that takes place on uneven balances is going to be crooked as all hell; always was and always will be. I would like to build something in America and sell it to the world... including in China. Do you know what a joke that is? Do you know how utterly ludicrous it is to think that you could build something - anything - in America and sell it to someone in China? Fixing the currency exchange is much harder because fiat currencies are synthetic money; there is no natural balance that can be sought, and the only way to achieve that would be destructive to both the nations involved. So maybe international trade needs to return to real money? I dunno, because the trading partners in such cases is currently limited to the super rich. Even if you fix the taxes, and start printing money with the nations, the world will remain messed up for a couple of centuries; it will take a long time to balance out the wealth. That's another Lie that the slaves are fed; there are no super rich... uhm, not only do they exist, they own ALL the wealth. Way more than those numbers they print in Forbes magazine; who do you think owns the media? If the super rich don't want you to know they exist, are they going to let their media tell you they exist? Even a total slave should be able to figure that one out.

Well, that's what should be happening with our money, if we really had a government of the people, by the people, and for the people. Which we don't. Not only have you all been reduced to slaves, whichever idiot amongst you dares to ask for more will be immediately tossed in the streets...

[video=youtube;M4CVZnGJIzQ]https://www.youtube.com/watch?v=M4CVZnGJIzQ[/video]
 
Income Tax: That Evil And Immoral Monster

March 4, 2013 by Bob Livingston

[personalliberty.com/2013/03/04/income-tax-that-evil-and-immoral-monster]


Modern states all have paper currencies, a debt money system. All forms of government money represent debt. Modern governments would not and could not exist without both the power to create debt money and the income tax system.

The purpose of modern paper currencies (all forms, including computer symbols) is to transfer wealth to the government without payment by the government. The Federal government creates modern “money” out of nothing and “pays” it into circulation for something. In other words, the government gets money (any amount of it) and passes it into the “economy” for goods and services. This is the same as saying that the government actually pays for nothing. It transfers wealth and production to itself for free. It pays not one penny.

Why then the income tax? The purpose of the income tax is to conceal the fraud that massive wealth is being transferred to the government without payment. This cover-up conceals the fact that since the Civil War and Abraham Lincoln’s “greenbacks,” paper money is the means of financing all wars and all means and methods of suppressing human liberty.

The vast wealth of governments comes from the creation of money, not from income tax. Why would governments need our income tax if they can create any amount of “money”?

The answer is, of course, they don’t need our income tax, but they have to have the income tax system to cover their money creation fraud. In other words, the people must believe that their income taxes are necessary to support government. All must pay their “fair share.”

So important is the income tax system as a cover-up that it is regulated by threat, coercion, mass brainwashing and a whole system of witchcraft called the tax code. Remember, governments have to conceal their greatest secret, their money machine.

The income tax is not a Constitutional issue. It is a system of Phariseeism promoting general and widespread social depravity and spiritual immorality. It is indeed a spiritual deception.

That governments print money is no state secret. Then why do so few question the meaning of the income tax?

Little children are taught in school to pay income tax. All the propaganda says “pay your fair share.” It is a complete and absolute brainwashing and so big as to defy inquiry. The system is inbred.

Though the income tax is not necessary as a source of government funds in a paper economy, it is very important as a system of regulation. It promotes class warfare and privilege. The government and its politicians can discriminate or favor with the income tax system.

The American people are victims of a massive entrapment scheme that has conned them out of billions of dollars, as well as millions of hours of recordkeeping and loss of freedom. Federal judges and U.S. attorneys have all conspired against human rights by failing to inform the people of the nature of income tax entrapment.

This is a financial holocaust that is nothing less than organized crime against the people. What a masterpiece of cynicism and deceit. This conspiracy by the government against the American people is equal to and greater than any tyrant in the history of the world. Please do not forget the duplicity of your “elected representatives.” They have betrayed you.

One final word for those who mimic the “fair share” cliché as well as the misnomer that the Federal government needs your income taxes as government revenue: You do not understand monetary realism nor history of government finance.

For a true education on monetary realism you should read Money, The Greatest Hoax on Earth by the great monetary genius Merrill Jenkins Sr., if you can get your hands on a copy. It is no longer in print, but is sometimes available at Amazon.com. There is also our reproduction of Jenkins’ lectures in Money: The Single Greatest Lie in American History.

How can the Internal Revenue Service trap millions of Americans into an enforceable contract and yet claim that it is “voluntary”?

The point is that the income tax has to be understood before you sign a 1040. People sign 1040 income tax forms believing that they are “tax payers.” The government wants very much for you to think of yourself as a “taxpayer.” Has the propaganda succeeded?

One very important fact: The U.S. monetary system as well as the world monetary system is a credit debt system. In other words, all U.S. “money” is credit money, which is debt. Is it possible to pay a tax debt (assuming you owed one) with debt? Not according to the U.S. Supreme Court in Don E. Williams v. Commissioner of the Internal Revenue.

Federal Reserve notes (paper dollars) do not promise anything and are not redeemable in anything. The system works on confidence.

Why then do we play this April game if it is not about paying income taxes?

Remember that all modern “money” is debt. You do not “pay” your debts. You swap debt money for debt.

So when you write a check to the IRS, you think that you are paying taxes simply because this process reduces the numbers in your bank account. Consequently, you have less “money” to spend.

The “payment of income taxes” is not payment of anything, nor is it intended to be. It is a process of regulation to continually reduce the amount of your “money” in circulation. Your check to the IRS reduces your “money” numbers so that you have less to “spend.” Without this regulation (paying income taxes to reduce the volume of money):

Our “money” would become (be perceived as) worthless.
The system would be revealed as the fraud that it is. People must believe that they are “taxpayers” and that their “fair share” goes to support government. They must never know that government creates its “money” for the purpose of transferring wealth to itself without payment.

The so-called income tax system is a regulatory process that is absolutely essential with a debt money system. One cannot exist without the other. Lincoln started the first income tax along with his Lincoln greenback paper money. He may have freed the slaves, but he also made slaves of us all to the money machine. All modern wars were made possible with Lincoln’s paper (debt) “money.”

But we do write symbols on checks “payable” to the IRS. What is happening?

What we are actually doing is conforming to the regulation process by reducing the numbers in our “bank account.” We are limiting our consumption. This process reduces our bidding against government for what we produced. If we were permitted to spend all of the “money” that we get, prices would go to the moon, the system would collapse as the worthless “money” became useless “money” and the fraud of modern money would be revealed, as John Maynard Keynes warned.

So to slow the collapse, every means possible must be found to restrict the supply of spendable money in the hands of the people. Income tax is the big one. But individual retirement accounts, 401(k)s, buying government debt (Treasury bills, T. notes or T. bonds) and even population control are directly related to the control or regulation of the volume of money.

Government gets services, production, materials and our labor with their created money for free. By all definitions, we are slaves to the money creators.

Why should Americans fear terrorism? The money creators created terrorism and all other wars and conflicts.
 

gabriel

Governor
lol! while youre busy whingeing about money, were making it and buying the goods and services we want!! hahahaha
 

Bluedog

Mayor
Income Tax: That Evil And Immoral Monster

March 4, 2013 by Bob Livingston

[personalliberty.com/2013/03/04/income-tax-that-evil-and-immoral-monster]


Modern states all have paper currencies, a debt money system. All forms of government money represent debt. Modern governments would not and could not exist without both the power to create debt money and the income tax system.

The purpose of modern paper currencies (all forms, including computer symbols) is to transfer wealth to the government without payment by the government. The Federal government creates modern “money” out of nothing and “pays” it into circulation for something. In other words, the government gets money (any amount of it) and passes it into the “economy” for goods and services. This is the same as saying that the government actually pays for nothing. It transfers wealth and production to itself for free. It pays not one penny.

Why then the income tax? The purpose of the income tax is to conceal the fraud that massive wealth is being transferred to the government without payment. This cover-up conceals the fact that since the Civil War and Abraham Lincoln’s “greenbacks,” paper money is the means of financing all wars and all means and methods of suppressing human liberty.

The vast wealth of governments comes from the creation of money, not from income tax. Why would governments need our income tax if they can create any amount of “money”?

The answer is, of course, they don’t need our income tax, but they have to have the income tax system to cover their money creation fraud. In other words, the people must believe that their income taxes are necessary to support government. All must pay their “fair share.”

So important is the income tax system as a cover-up that it is regulated by threat, coercion, mass brainwashing and a whole system of witchcraft called the tax code. Remember, governments have to conceal their greatest secret, their money machine.

The income tax is not a Constitutional issue. It is a system of Phariseeism promoting general and widespread social depravity and spiritual immorality. It is indeed a spiritual deception.

That governments print money is no state secret. Then why do so few question the meaning of the income tax?

Little children are taught in school to pay income tax. All the propaganda says “pay your fair share.” It is a complete and absolute brainwashing and so big as to defy inquiry. The system is inbred.

Though the income tax is not necessary as a source of government funds in a paper economy, it is very important as a system of regulation. It promotes class warfare and privilege. The government and its politicians can discriminate or favor with the income tax system.

The American people are victims of a massive entrapment scheme that has conned them out of billions of dollars, as well as millions of hours of recordkeeping and loss of freedom. Federal judges and U.S. attorneys have all conspired against human rights by failing to inform the people of the nature of income tax entrapment.

This is a financial holocaust that is nothing less than organized crime against the people. What a masterpiece of cynicism and deceit. This conspiracy by the government against the American people is equal to and greater than any tyrant in the history of the world. Please do not forget the duplicity of your “elected representatives.” They have betrayed you.

One final word for those who mimic the “fair share” cliché as well as the misnomer that the Federal government needs your income taxes as government revenue: You do not understand monetary realism nor history of government finance.

For a true education on monetary realism you should read Money, The Greatest Hoax on Earth by the great monetary genius Merrill Jenkins Sr., if you can get your hands on a copy. It is no longer in print, but is sometimes available at Amazon.com. There is also our reproduction of Jenkins’ lectures in Money: The Single Greatest Lie in American History.

How can the Internal Revenue Service trap millions of Americans into an enforceable contract and yet claim that it is “voluntary”?

The point is that the income tax has to be understood before you sign a 1040. People sign 1040 income tax forms believing that they are “tax payers.” The government wants very much for you to think of yourself as a “taxpayer.” Has the propaganda succeeded?

One very important fact: The U.S. monetary system as well as the world monetary system is a credit debt system. In other words, all U.S. “money” is credit money, which is debt. Is it possible to pay a tax debt (assuming you owed one) with debt? Not according to the U.S. Supreme Court in Don E. Williams v. Commissioner of the Internal Revenue.

Federal Reserve notes (paper dollars) do not promise anything and are not redeemable in anything. The system works on confidence.

Why then do we play this April game if it is not about paying income taxes?

Remember that all modern “money” is debt. You do not “pay” your debts. You swap debt money for debt.

So when you write a check to the IRS, you think that you are paying taxes simply because this process reduces the numbers in your bank account. Consequently, you have less “money” to spend.

The “payment of income taxes” is not payment of anything, nor is it intended to be. It is a process of regulation to continually reduce the amount of your “money” in circulation. Your check to the IRS reduces your “money” numbers so that you have less to “spend.” Without this regulation (paying income taxes to reduce the volume of money):

Our “money” would become (be perceived as) worthless.
The system would be revealed as the fraud that it is. People must believe that they are “taxpayers” and that their “fair share” goes to support government. They must never know that government creates its “money” for the purpose of transferring wealth to itself without payment.

The so-called income tax system is a regulatory process that is absolutely essential with a debt money system. One cannot exist without the other. Lincoln started the first income tax along with his Lincoln greenback paper money. He may have freed the slaves, but he also made slaves of us all to the money machine. All modern wars were made possible with Lincoln’s paper (debt) “money.”

But we do write symbols on checks “payable” to the IRS. What is happening?

What we are actually doing is conforming to the regulation process by reducing the numbers in our “bank account.” We are limiting our consumption. This process reduces our bidding against government for what we produced. If we were permitted to spend all of the “money” that we get, prices would go to the moon, the system would collapse as the worthless “money” became useless “money” and the fraud of modern money would be revealed, as John Maynard Keynes warned.

So to slow the collapse, every means possible must be found to restrict the supply of spendable money in the hands of the people. Income tax is the big one. But individual retirement accounts, 401(k)s, buying government debt (Treasury bills, T. notes or T. bonds) and even population control are directly related to the control or regulation of the volume of money.

Government gets services, production, materials and our labor with their created money for free. By all definitions, we are slaves to the money creators.

Why should Americans fear terrorism? The money creators created terrorism and all other wars and conflicts.
Interesting article.
 
lol! while youre busy whingeing about money, were making it and buying the goods and services we want!! hahahaha
Whingeing? What do you mean? I know you are retired, Gabriel (you told us), but do you have any kind of hobby at all, or a family (wife, children)--something to keep you occupied and useful, besides sitting at your computer, day after day, typing nonsense? By the same token, do you get any sleep? I ask this question because it appears you are on these forums both day and night, trying to find something to fill the void in your life. It seems you look for any excuse to type something, even if you have nothing to say, but just to type, or to irritate. That signifies a lot of boredom and emptiness in your world. If the answer is 'no' to both questions, I'm going to start feeling sorry for you, mate.
 
sorry, i was busy makin money. what did you say, son?
No amount of money in the world is going to fill that void in your life, Gabe. You need to go find something useful to do with yourself. Take all that money you say you have and flush it down the toilet. It has turned you into a couch potato.
 

Days

Commentator
If the Wall Street banks set up a system for the federal budget to overspend on war (and peace) and to do that by selling bonds to a central bank instead of printing their own currency (like Abe did) and to make those bonds whole through income taxes...

that's a system of siphoning from the people to the banks.

Its called wealth transfer... but it transfers from the bottom up.

What my top post proposed was to turn the direction of the siphon around. Use the same system to siphon back down from the top and spread the wealth to the people.

If I was a politician in a position of national importance, I would have been shot in the head, by now.
 

fairsheet

Senator
On an interesting golden sidenote, I just read an illuminating piece. As we probably know, the Russians and Chinese are currently mining considerable more gold than we in the Western world are. It might be logical to assume that that's because they HAVE more gold in their ground. But, that's not it at all.

Gold is expensive to mine, in terms of labor, processes and environmental harm and degredation. Because of their "systems" (or lack thereof) the Russians and Chinese are able to minimize those costs as compared with us. Contrary to somes' assumptions, gold doesn't have any more or less "inherent" value, than does printed money. The value of gold has to be based on SOMETHING. One of those somethings, is the cost of getting it out of the ground. Therefore, in the current era, we are rewarding the Russian's and Chinese's untoward human and environmental regimes. As we're considering how me might re-peg the value of printed currency, we should probably do same as to gold.
 

Days

Commentator
The Bank of England, another private owned central bank, sets the world wide value of gold, every morning 10AM Greenwich time. All currencies on the planet derive their value from that action... indirectly, of course.


"gold doesn't have any more or less "inherent" value, than does printed money.


The value of gold has to be based on SOMETHING. One of those somethings, is the cost of getting it out of the ground."


...you contradicted yourself there.

Another one of those somethings is the word "precious" in front of metals. You can't create new gold at the speed of light on the internet. It is "precious" in that it is limited in abundance; not fixed, just limited. Another way of saying that is, it is finite. Goldman Sachs can create an infinite amount of numbers in cyber space, and that's all their money is... so that's another intrinsic value of gold that fiat currency lacks.

Gold has history. It has a precedent for value that goes back thousands of years. Fiat currencies are being altered by the second, although they have values set by fiat, those are arbitrary, not inherit. As such, gold stores value over time, while these fiat currencies really do not.

But your side note made a very interesting point. Paper currencies tend to reward more value to hard labor because there is no hard labor in creating paper currencies.

BTW, the top post is dealing with distribution of wealth by a fiat currency.
 

BrianDamage

Council Member
The Bank of England, another private owned central bank, sets the world wide value of gold, every morning 10AM Greenwich time. All currencies on the planet derive their value from that action... indirectly, of course.
That's pretty amazing, considering that the price of gold varies during the day. Oh, wait, that's because it's not true. Gold, like other commodities, is valued based on what people are willing to pay for it.


"gold doesn't have any more or less "inherent" value, than does printed money.


The value of gold has to be based on SOMETHING. One of those somethings, is the cost of getting it out of the ground."


...you contradicted yourself there.

For those of who have English as our native tongue, he didn't.


Another one of those somethings is the word "precious" in front of metals. You can't create new gold at the speed of light on the internet. It is "precious" in that it is limited in abundance; not fixed, just limited. Another way of saying that is, it is finite. Goldman Sachs can create an infinite amount of numbers in cyber space, and that's all their money is... so that's another intrinsic value of gold that fiat currency lacks.
Well, no, Goldman-Sachs can't create an infinite amount of anything in cyberspace, without first creating an infinite number of servers to store the values on. And those numbers aren't real money. For it to be real money, they have to exchange it for cash. And there's a finite supply of that. Not fixed, just limited.


Gold has history. It has a precedent for value that goes back thousands of years. Fiat currencies are being altered by the second, although they have values set by fiat, those are arbitrary, not inherit. As such, gold stores value over time, while these fiat currencies really do not.
So do diamonds. And silver. And tin. And lead. Gold has no inherent value. If it did, it would hold that value in all circumstances. The value of gold can change by the minute. Just look on the commodities market. At this moment, gold is selling for $1,592.60/troy ounce. And now it's $1,592.90/troy ounce. Kind of rapid change for something that doesn't change quickly, isn't it?


But your side note made a very interesting point. Paper currencies tend to reward more value to hard labor because there is no hard labor in creating paper currencies.
That's a silly-assed thing to say. Of course there's hard labor in creating paper currencies. Are you under the impression that trees cut themselves down, mover themselves to the mill, and pulp themselves?

BTW, the top post is dealing with distribution of wealth by a fiat currency.
You think the wealthy wouldn't own pretty much all the wealth if we were on the gold standard?
 

fairsheet

Senator
you know absolutely nothing about money.

unless you was just joking...
Actually, it's really quite simple. I find you staggering about (with your $1600 per oz.) gold stash, in the middle of the Sierra Madre. You're near death from dehydration and I have 5 gallons of nice cool water. You offer me one of your $1600 ounces of gold for my water. I say..."No way, gimme 5!"

I just devalued your gold all by myself, without benefit of any "market erudites". It sounds overly simple, but when people say, "You can't eat gold", they mean it. A greenback is only worth what someone will give you for it. Gold is only worth what someone will give you for it.

It's sorta funny how we assign value to things. Ya know how much a bald eagle is "worth"? Try..$50,000 (around $10k per pound). That's what'd it cost you if you got caught killing one. Holy shit...it's just a ding-dang ball of bones, feathers, claws, and a beak and it's worth more than half what gold is!

But...if you were starving, you could eat an eagle, although I've heard they taste a little fishy.
 

EatTheRich

President
We accept paper money as valuable BECAUSE it is legal tender for paying taxes and debts. If we were on a gold standard, we'd accept gold as valuable because it was socially (and legally) agreed on as a store of value. But gold isn't inherently money any more than cotton paper, cowrie shells, wampum belts, or giant stones.

Isolated from reality, the government and central banks could print as much money as they want to buy anything they want. In reality, increasing the money supply without increasing production causes inflation, which makes not only our dollars worth less, but also the government's dollars. The money supply is manipulated for inflation and investment targets that benefit the ruling class ... who seldom want zero inflation ... but hyperinflation, which causes economic and political destabilization, is never in the interest of any government. That's why the U.S. government is financed mostly by taxation and not by printing money (including during the last few years of crisis-inspired inflationary policy).
 

fairsheet

Senator
I'll suggest that the potential benefit of paper currency as opposed to gold, is that with paper, WE get to choose what it's pegged to. We may not make the right choices for sure...but, at least we could if we wanted to.

Gold's value on the other hand - for the most part - is pegged to things like its cost of production and who happens to own it, regardless of the quantity and/or quality of their production.
 

BrianDamage

Council Member
Actually, it's really quite simple. I find you staggering about (with your $1600 per oz.) gold stash, in the middle of the Sierra Madre. You're near death from dehydration and I have 5 gallons of nice cool water. You offer me one of your $1600 ounces of gold for my water. I say..."No way, gimme 5!"

I just devalued your gold all by myself, without benefit of any "market erudites". It sounds overly simple, but when people say, "You can't eat gold", they mean it. A greenback is only worth what someone will give you for it. Gold is only worth what someone will give you for it.

It's sorta funny how we assign value to things. Ya know how much a bald eagle is "worth"? Try..$50,000 (around $10k per pound). That's what'd it cost you if you got caught killing one. Holy shit...it's just a ding-dang ball of bones, feathers, claws, and a beak and it's worth more than half what gold is!

But...if you were starving, you could eat an eagle, although I've heard they taste a little fishy.
That's what I'm referring to when I say gold has no inherent value.
 

fairsheet

Senator
I know you know! I'm just not sure some others do. They've been listening to the gold shills for so long, they just take it for granted that there HAS to be some obvious and fundamental difference between gold and paper.
 
Great piece Days. You make very many strong points that are 100% true. Your comments about the nature of money are accurate. Your claim that taxes are the means the government uses to justify one currency is also accurate. Your claim that money is debt is accurate. Your statements regarding the need for government to circulate money in order to fund itself are accurate. So now we get to the meat of this issue. If all you say is true, why do we have money and why did we adopt income taxes?

First of all, prior to the creation of a national currency, we had states issuing their own currencies. Thirteen colonies, thirteen scripts. Each of these states ended up creating a smaller version of a national currency because the very act of creating a currency involves the very same issues regardless of the scale of the problem. If you agree that a federal government abuses money and creates debt then how can you disagree with a state doing the exact same thing but on a smaller scale? The reason we adopted a national currency was to create a national economy, a national bank, a national government and a nation that tackled problems collectively. It was a solution to a problem created by the Articles of Confederation just as surely as the constitutional convention solved the problems they saw in the 1780s. Hamilton argued that debts incurred by the states should be paid by a new federal bank. He won, Madison and Jefferson lost but they got Washington DC in the bargain. So it appears to me that the solution proved effective in keeping the nation intact and allowing for the growth of the nation. What was missing was a strong understanding of economics at the time. Economics was considered a philosophy or social science at that time. Money was not well understood and banking was a hidden industry controlled by a few backed by gold reserves. The nation had one economic catastrophe after another until the creation of the Fed. Economics was still poorly understood and we ended up in the Depression. Economics continued to be revealed in the 1930s with the advent of the Keynesian and Austrian schools of thought. The government was forced to manage the economy or face revolution. The income tax was created to help fund the activities that the people wanted the government to perform. The people wanted more things from the government than they had before and the nation was modernizing. It took money to get it going and private industry was incapable of funding these projects because there was no ROI for them in building schools, arming a nation, creating the infrastructure, damming rivers, building ports and so on. We spent money on things we needed in the commons. What happened though was that money itself became an industry vastly bigger than any other industry. When you have an economy where the largest profits are made by moving money around and betting on financial instruments rather than true production or manufacturing, you are going to end up in a mess. Money is debt, there is no doubt. But that debt is one we willingly hold in order to have a civilization. Is the modern world a dream that can be stopped in an instant? Yes. But that has always been true regardless of the type of money or the type of government. Well done Days.
 
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