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<p>[QUOTE=&quot;Cloudsweeper99, post: 1209036, member: 3011&quot;]The open mindedness comes into play for those who can see how the lessons apply to today.&nbsp; It must not be simplistic since you have been arguing that it isn&#039;t possible.&nbsp; I gave you a real life example which could have been expanded to include the issuance of currency by both Lincoln and Kennedy.&nbsp; The currency was not debt and although it was retired, it didn&#039;t have to be if taxes were set at a level to retire only the amount of newly created currency [i.e., a balanced budget].&nbsp; Now you can call it debt just to poison the idea, but it doesn&#039;t meet any of the requirements that people normally associate with debt.&nbsp; There&nbsp; was no lender, no borrower, no interest rate, and no scheduled repayment.&nbsp; Of course there is a limit to how much of this can be done, just as there is a limit to deficit spending today, so that is irrlevant.&nbsp; That&#039;s why there is taxation.&nbsp; What is relevant is the observation, denined by many folks in this forum, that one of the powers of government is to create money and put it into circulation.&nbsp; Only the bankers insist that money is not money unless it is offset by an equal amount of debt upon which they can collect a perpetual stream of interest.</p><p><br /></p><p>The defenders of central banking should consider the fact that they are defending a system that is impoverishing them, and the time is growing very short as the compounding of debt has now reached the level where government deficits START at $1trillion per year.&nbsp; I&#039;ve seen estimates in the business media that in a few years it will be $5trillion per year.&nbsp; Since you don&#039;t have a solution, maybe it&#039;s time to consider some alternatives.[/QUOTE]</p><p><br /></p>

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