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Thread: Money as Debt, isnt strong enough, Money is Theft!

  1. #1 Money as Debt, isnt strong enough, Money is Theft! 
    Forum Cosmic Wizard icewendigo's Avatar
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    At least according to this gentlemen's video:

    https://www.youtube.com/watch?v=CI9Jy_AvtYo

    Im not sure if the disagreement he has with the money as Debt explanation is that: ~semantically money as debt implies there is a debt, where as he appears to emphasize that a fraud should not be equated to a debt~.
    Is this about right? (for anyone that watches the video and might understand more easily)


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  3. #2  
    Forum Professor
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    The point he is trying to make is that the minute a promise to pay contract / note is signed, the promise to pay / the contract / the note is the asset and it is, all by itself, entered into the system as legal tender is entered. Banks do not loan anyone money. The promise to pay contract / note creates the deposits people are given as "loans".


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