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#21
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money is a promise to pay [/ QUOTE ] I have a one dollar bill in my hand. Who do I owe? Who owes me? I have one ounce of gold in my hands Who do I owe? Who owes me? |
#22
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[ QUOTE ]
[ QUOTE ] money is a promise to pay [/ QUOTE ] I have a one dollar bill in my hand. Who do I owe? Who owes me? I have one ounce of gold in my hands Who do I owe? Who owes me? [/ QUOTE ] When I said money I meant fiat money, dollar bills. I said when money is CREATED it's created as debt and is a promise to pay. When somebody gives you a dollar they didn't create it, they circulated it. If you follow the chain of events the dollar followed to its source, it came from a loan or a promise to pay. |
#23
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The real reason taxes are going to go up is the gazillion dollar deficit in Medicare and Social Security, but particularly Medicare.
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