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**FrereeDoulley** · 02-14-2012, 07:01 PM

I'd like to add that the general economy will only be doomed to slow growth until all the excess debt is taken care of. Once the economy is no longer burdened with excess debt, the economy will enjoy real and prosperous growth, not fake growth fueled by fake credit.

The current debt issue is rarely touched when waxing philosophically about moving to a metal standard. If the current paradigm were simply switched without addressing the overhanging debt (lack of transparency is connected to this, IMO), the debt payment would cripple the new economy.

The reason I think transparency is a key point that must be addressed is that this is the method that leads to debt repudiation. Understanding of how it was accrued, by whom and to whom it is owed cannot be fixed without a full audit.

02-14-2012, 07:01 PM	#18
FrereeDoulley Join Date Oct 2005 Posts 424 Senior Member	I'd like to add that the general economy will only be doomed to slow growth until all the excess debt is taken care of. Once the economy is no longer burdened with excess debt, the economy will enjoy real and prosperous growth, not fake growth fueled by fake credit. The current debt issue is rarely touched when waxing philosophically about moving to a metal standard. If the current paradigm were simply switched without addressing the overhanging debt (lack of transparency is connected to this, IMO), the debt payment would cripple the new economy. The reason I think transparency is a key point that must be addressed is that this is the method that leads to debt repudiation. Understanding of how it was accrued, by whom and to whom it is owed cannot be fixed without a full audit.
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