All debt, whether public or private that is not paid off by the same generation is a scam on the next generation and beyond, a very unfair one. For this reason, debts shouldn't be allowed to exist for more than thirty years, and should not be allowed to be paid off by a new debt. So what should happen if a debt is not paid off in this time? It should be subject to foreclosure and/or bankruptcy proceedings, irrespective of whether the borrowers want to continue with the debt.
That's nonsense; it is obsolete government propaganda. Just the type of money that you are shamelessly used to is debt based. Money rooted in precious metals, also some cryptocurrencies, is in no way debt based. And yes I can spend them.
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And it's not just a quick one-liner, there's a lot of detail here.
> All money is debt.
This is true for currently popular monies, but is not inherently true. Is a gold coin a debt instrument?
> Is a gold coin a debt instrument?
It is if you lend or borrow it or use it as collateral.
> How do you make a contribution to reduce the debt?
Hilarious.