So, true! What do banks lend us? Isn't it our money actually?
On our money, we pay taxes and for our money we pay interest, this is the best definition of current financial systems!
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It's true! First we pay taxes and that money funds those loans which we pay interest upon!
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screwed twice!
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As money has been a tool of governance, what would happen if interest rates were abolished?
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Government has so many other resources than taxes to do governance. It should utilise them to earn money. But they won't do it and will only rely on taxes which isn't good economics!
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That's exactly why I was imagining a word without interest rates applied to debit/credit. Or are taxes a form or interest rate?
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Don't forget that, if you dare to protect yourself from inflation by holding hard assets, you are taxed on "capital gains" (even if the purchasing power of those assets didn't increase).
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