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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: GraceZ who wrote (69084)	2/18/2001 10:16:43 PM
From: Ilaine	Read Replies (3) of 436258

>>If debt is used for productive assets it creates money.<< Excellent, but only an entrepreneur really understands this. Coincidentally, I was trying to explain earlier tonight to my younger son why the the money supply increases. Trying to explain how debt is monetized, and why, went over his head. But when I read to him the salient portions of your post, I think he got it. Maybe. The example I was trying was, suppose I charge John $500 for a divorce, and John charges Sam $500 to work on his car, and Sam charges Mary $500 for a weeks worth of secretarial work, and Mary charges me $500 for furniture, how much money are we talking about? He said $500. The older one said, and I agree, we're talking about $2000. I have not seen the magical, mystifying effect of money any clearer than in the printing industry. It's like a license to print money, you're right.

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