Comment: Under a Fiat Monetary

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Republicae's picture

Under a Fiat Monetary

Under a Fiat Monetary System, which totally relies upon debt for its creation and substance, the circulation of money, thus the growth of the economy depends upon debt and the expansion of that debt. If you pay down the debt or "write-off" the debt that contracts the money supply proportionally and contracts the economy proportionally. In other words: ULTIMATE CRASH!

"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun