Thursday, February 5, 2009

A Simple Explanation of "the Economy"

George Ure keeps laying it on the line:

"Think about this...Where does interest come from in a sound money system? Say there is $20 in the whole world and you have it all. I am flat-ass broke. I borrow $10 at 20% interest all due in one year.

Spin the clock forward one year. You still have your other $10-spot. I have gotten back that $10 and am ready to pay you. But, since I also have to pay you $2 of interest, just where the hell do you suppose that comes from?

Answer: We 'make it up'. Someone off stage prints it up and throws it in.

Except, of course, the making up is incredibly convoluted in an abracadabra sort of way."

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