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isn't money the most ancient and spread form of debt?
#614866
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.
show me the law that define debt or money.
You may say ... money, but by legislators, debt is...
... but, isn't money just a piece of paper referring to a tacit contract agreement saying I OWE YOU some credit?
isn't debt an agreement I OWE YOU some MONEY?
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?
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.
What a question! I'm now a huge fan of yours.
money is debt in the form of an implicit contract between the individual and society
where is that contract? can I read the terms? who signed it?
The state issues laws and is ultimately responsible for formalizing society’s implicit contract.
We issue states and are ultimately responsible for formalizing society's explicit contracts
people keep saying "what do i do, renounce/denounce my citizenship?"
explaining this term wud make a good post!
previous
Debt:Debt:
Contrary to the average person’s belief, there is no debt. Although they believe they have taken out loans and are liable to pay them back, this is not the case.
With the use of their live certificate of birth, new credit is created in the unsuspecting person’s name.
When they apply for any loan, they are in fact given back their own credit and are tricked in becoming the debtor, when they were in fact the creditor all along.