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<p>[QUOTE=&quot;fatima, post: 1208854, member: 22143&quot;]You just contradicted yourself earlier when you were stating that all currency represents national debt.&nbsp;&nbsp; It&#039;s the bankers that issue the currency, not the government.&nbsp; This is a key element to any fiat money system.&nbsp;&nbsp; Obviously you just agreed with what I have previously stated.&nbsp; &nbsp; </p><p><br /></p><p>This is why I said that central bankers can then create as much currency as they want because there are no restrictions on them.&nbsp; When they screw up because their investments went bad, they then try to get the sovereign government to bail them out with taxes (i.e. gubment assumes the debt) so that bond holders don&#039;t lose out.&nbsp; With the exception Iceland, this is what every government in the world has done.&nbsp;&nbsp; Iceland refused to assume the debt of the bankers and this is the one time that bond holders lost.&nbsp;&nbsp; </p><p><br /></p><p>It&#039;s exactly the same in the USA when the banksters got bailed out in 2008, the taxpayers assumed the debt created by the banks.&nbsp;&nbsp; It&#039;s the same now with Greece.&nbsp;&nbsp; They created an off the books funding mechanism via a scheme cooked up by Goldman Sachs, it&#039;s not soveriegn debt, but now that they can&#039;t pay it back, they are looking for the taxpayers to do exactly that.&nbsp;&nbsp; (This situation is wildly more complicated because the Euro is issued by the ECB which is an institution that only exists by treaty with numerous countries.)[/QUOTE]</p><p><br /></p>

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