Quote Originally Posted by Necron99 View Post
Quote Originally Posted by koman View Post
Quote Originally Posted by Neverna View Post
^ Pseudo, I don't understand how "debts can never be repaid". If I lend you 1000 baht and you repay me 1000 baht or 1100 baht, the debt is paid, the same as if I borrow GBP1000 from a bank and repay the loan and the interest. I've done it before. I borrowed some money from a UK bank. I withdrew the borrowed money from the bank. I bought a car (paid cash). I repaid the loan plus the interest. I have no debts to that bank. It finished many years ago. Bank happy. Me happy. Finished. No debt.

Well FFS. of course that's exactly how it works. Pseudo keeps banging away about the banks not "creating interest"....and it's been explained just about every way possible but he still can't get his head around it.

It would seem likely that most of us have done the same thing with the same results and experience. How many people can buy a house or even a car without borrowing .....not too many...so not too many people would be able to own their house or have a car without taking on some temporary debt.

As far as countries never paying off their debts....that too is nonsense. The reason why debts remain is because countries, as well as corporations, tend to operate on a revolving line of credit type of arrangement. The debt is being paid off constantly, but also has new debt added on a regular basis as required, so the thing never reaches zero.

Clearly some countries and other large borrowers do a better job than others. Not a single bank note is printed in any of this activity. Credit and debit entries on a balance sheet.....and that's how whole nations great and small manage their economies as well as the world's largest and smallest corporations.

Pseudo is the only legal entity on the planet that has not used a bank apparently... How likely is that?.....


Psuedo's model is correct.
If you give work output no value.
What he is continually failing to factor in is the 10 in interest is a credit swap for his labour.


Now, given how he thinks his labour may well be worth nothing, that might be what is confusing him.
Necron its not a swap for labour because it still need to be paid back and nothing exists to pay it back with. If all the money in the world was put together and paid off all the debt there would still be a massive interest debt bubble. Simple fact