Comment: Counterfeiting is only one problem.

(See in situ)

Counterfeiting is only one problem.

What some people claim is "counterfeiting: is just the use of something other than gold/silver as money.

But anything can be the instrument of money. What is important is not what the medium of money is, but that:

1. The Money Supply is managed transparenly, with no secretive expansion.
2. There is no public debt caused by the mere creation of money.

It is (usury) the violation of the 2nd principle that brings whole Nations to their knees awash in perpetual public debt, that they can never escape from.

For if the mere creation of money itself introduces debt, then the total money in circulation can never pay off all expeditures plus the artificially created debt. This means that the money supply always has to be continually expanded and expanded (and with it the debt is expanded and expanded) -- and there is no resolution.

Ben Franklin's "Colonial Script" was a paper-money system, but it was an honest money system -- hence it worked!

But The Bank of England/U.S.Central Bank system is a dishonest system, and it cannot work regardless of what medium is used (because loans are made on non-existent money, and debt is perpetually generated, and the supply is constantly corrupted by design).