- Joined
- May 30, 2007
- Messages
- 2,872
It was debt to begin with. The person who gives you the loan is the one who pays for the things you buy with it. It stops being debt when the bank stops asking you to pay it back. Then it becomes the debt of the bank directly, since they aren't hitting you up for funds to pay off their debts. When a bank gives out money it doesn't have, it really is putting itself in debt... Intuitively as you would expect...No, it didn't. It was gone for a long, long time before anyone even noticed. In economies that are developed enough to rely on credit, you don't need money, you need the appearance of money. When banks are handing out money left right and center, it begins to disappear very, very quickly.
When these loans can't be paid back, the money disappears. It becomes debt. Debt that nobody wants to touch. There's about 1.3 Trillion worth of toxic debt in America alone.
That's where your fucking money went.
Our money didn't go anywhere, there was just never any to begin with.
Oh well, I guess the stimulus package can put the debt into the governments lap.
"Legal tender."The funny thing all along is that money itself is an "appearance of money". It used to be backed by valuable material, (gold, silver, etc.) but now it simply has value because the government says it does. It's really just one huge pretend game; a fact which I find funny and disturbing at the same time.
What's worse, it'll all soon be digital. xD