Tag Archives: Congress

New analysis claims US may default 15 days prior to the actual date

13 01 10 Washington PostThis article is a guest contribution that illustrates how the language of personal debts is camouflaged when talking about national debts:

  • the repayment by personal debts is legally enforcible
  • the repayment of national debts doesn’t matter as long as interest payments reach the bank accounts of those with ‘vested interests’…

Now, however, as people are beginning to wake up to the impossibility of ‘growing debt’ forever, ‘debt ceilings’ are used

  • either to bankrupt governments or
  • at least to reduce public spending.

Hopefully more and more people see how money has become a tool to control and has ceased to be a medium of exchange, let alone a store of value…

Maybe the ease with which ‘money’ is created as debt should be kept separate from controlling a nation’s money supply? Continue reading

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