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To: Skeeter Bug who wrote (233895)	12/21/2009 4:54:01 PM
From: grusum	Read Replies (1) \| Respond to of 306849

i said "i know how currency is created. money is a different matter." you said "that's a no" if you say money isn't a different matter than currency, you're saying they're the same. --- you say: "how do you know ahhah knows what he's talking about unless you know what you are talking about?" the same way you take the word of the videos you watch. --- but ok, let's not get personal. how would you define money?

To: Skeeter Bug who wrote (233895)	12/21/2009 5:04:43 PM
From: GraceZ	Read Replies (2) \| Respond to of 306849

where does the money to pay back $I come from? Interest on the loan can be paid back with savings from production. It is easy to see what I mean by this by taking money out of the equation altogether and going back to the pre-monetary economy. Imagine you and I are both farmers. We both grow corn. My corn is "in" and yours has yet to yield. I lend you ten ears, tell you to pay me back 11 when your corn comes in. That 11th ear is simply savings from your production. That 11th ear didn't come into being via debt creation, it came into being from your productive efforts, it was created "out of thin air" just as people are always accusing the Fed of doing. We could ratchet up the number of ears we produce (and consequently save if we don't eat them all) every single year without ever creating a single debt between us.