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people keep saying "what do i do, renounce/denounce my citizenship?"
explaining this term wud make a good post!
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isn't money the most ancient and spread form of debt?
#614866
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Maybe debt is older than money, but by law, debt is not money, money is not debt.
A deferred payment is not payment, a promise to perform is not performance.
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show me the law that define debt or money.
You may say ... money, but by legislators, debt is...
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... but, isn't money just a piece of paper referring to a tacit contract agreement saying I OWE YOU some credit?
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isn't debt an agreement I OWE YOU some MONEY?
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I was not referring to legal tender but money in general. When you pay someone with a "legal tender", are you giving them credit or debt?
And if you pay someone with gold, are you giving them credit or debt?
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if you pay someone with gold, are you giving them credit or debt?
neither, you give them money.
with legal tender is accounting magic/fraud, money for nothing, as Dire Straits say.
credits and debits
What a question! I'm now a huge fan of yours.
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What a question! I'm now a huge fan of yours.
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money is debt in the form of an implicit contract between the individual and society
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where is that contract? can I read the terms? who signed it?
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The state issues laws and is ultimately responsible for formalizing society’s implicit contract.
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We issue states and are ultimately responsible for formalizing society's explicit contracts
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Debt: