laff77 said...
Meh, if your going to argue a case on the premis of a limit less pit of money, I'm not going to waste my time. I know your intentions are good.
A limitless pit of money already exists. Unfortuneatly it is in private hands such as the IMF, World Bank, American Federal Reserve and here the Reserve Bank of Australia.
Don't be conned into believing that the RBA is owned by the Australian Government or People.
It is good to get your head around the idea that money is an idea. It is not backed by gold or anything else of value.
It only has value because we BELIEVE it has value. A $100 bill has no value in itself. You can't eat it, drink it or breathe it. Your "money in the bank" is just a figure on a ledger sheet or a blip on a hard drive.
The real wealth of a nation lies in the productive capacity of it's people.
Nation building projects need to be funded by a Nationaly owned Bank for Issuance of Credit such as the Commonwealth Bank was before it was disabled and dismantled at the behest of the British royal family.
Australia's participation in WW1 was funded by the Commonwealth Bank and we came out of it debt free.
A few sites where more can be learned about this kind of thinking.
http://cecaust.com.au/default.aspwww.larouchepub.com/www.schillerinstitute.org/index.html