"All the money in circulation is a debt, debt that can not be paid for two simple reasons: debt cannot possibly be paid off by debt; only the principal amount exists in the circulation - money for the payment of interest does not exist. To be able to pay interest on money that is issued as a debt, in this never-ending cyclus, one must always just create more and more new money. Since this newly made money is also created as a debt, even more new money must be created tomorrow in order to pay for the interest on it. In this insane system, the more we produce, the more we are indebted. The more indebted we are, the more and more of our rights and pleasures we give up.
Jct: If they won't lend any money, what? Foreclosure. http://johnturmel.com/biglie.htm goes a bit further. It explains that if everybody owes P+I and everybody got P, as the Zeitgeiset movie shows, P/(P+I) survive. But the remainder I/(P+I) get knocked into foreclosure resulting in Shift B inflation. Economics teaches inflation is Shift A, more money chasing the goods, up on the left. Economics does not teach Shift B down on the right.
Reference : http://johnturmel.com/biglie.htm
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