"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
There Is Now Officially 3 Times More Debt In The World Than Money
Submitted by Melinda L. Secor on Mon, 2018-07-16 01:00
"You may well have seen in the news the last couple of days that global debt has reached another all time high. After climbing to astonishing $247 trillion when combining public debt of around $60 trillion and non-financial sector debt of about $186 trillion. This eye watering figure also means that for the first time ever there is now officially 3 times more debt in the world than money."
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Comments
As we know, state-sanctioned money is created as debt and must be repaid with interest; total aggregate debt is always more than the total amount of money. That's the trap. The global monetary system is designed to confiscate and concentrate wealth.
But, as Thomas Greco suggests, private currencies and credit clearing exchanges are the disruptive innovations that can displace that system by liberating money and decentralizing the control of credit. I highly recommend his latest book, The End of Money and the Future of Civilization, and his recent article, Confronting the Power Elite.
https://beyondmoney.net/the-end-of-money-and-the-future-of-civilization/
https://beyondmoney.net/confronting-the-power-elite/