DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Where has all the money in the world gone?

**mynaflzak** · 06-11-2012, 06:51 AM

So to sum this up:

Money is an IOU which is redeemable for something, which is credit
Such money (credit) can disappear when the thing it represents can no longer feasibly provide the material goods which were originally promised.
Charging interest provides near-term consumption at the expense of long-term obligations

06-11-2012, 06:51 AM	#4
mynaflzak Join Date Oct 2005 Posts 558 Senior Member	So to sum this up: Money is an IOU which is redeemable for something, which is credit Such money (credit) can disappear when the thing it represents can no longer feasibly provide the material goods which were originally promised. Charging interest provides near-term consumption at the expense of long-term obligations
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