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Thread: Money -v- Credit: What's the difference?

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    Iridium Bigjon's Avatar
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    Money -v- Credit: What's the difference?

    http://www.ukcolumn.org/article/mone...ats-difference
    by
    MIKE ROBINSON
    | Tuesday, 16th May 2017




    https://www.youtube.com/watch?v=EYscR4Va4-A





    What is economy, what is it for and what is the role of money? In this episode of Insight Vox, EIR's Mike Billington contrasts the features of a monetary system with those of a credit system.


    This is the first in a series of interviews which we hope will encourage discussion of economy, national credit and put China's Belt and Road Initiative into context.

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    Unobtanium
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    Re: Money -v- Credit: What's the difference?

    You have to pay back anything you buy on credit with money... that's the difference.

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    Iridium
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    Re: Money -v- Credit: What's the difference?

    This topic is missing the third, and most critical variable....debt! You can't talk about money and credit without talking about debt
    Quote Originally Posted by Bigjon View Post
    http://www.ukcolumn.org/article/mone...ats-difference
    by
    MIKE ROBINSON
    | Tuesday, 16th May 2017




    https://www.youtube.com/watch?v=EYscR4Va4-A





    What is economy, what is it for and what is the role of money? In this episode of Insight Vox, EIR's Mike Billington contrasts the features of a monetary system with those of a credit system.


    This is the first in a series of interviews which we hope will encourage discussion of economy, national credit and put China's Belt and Road Initiative into context.
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    Iridium Bigjon's Avatar
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    Re: Money -v- Credit: What's the difference?

    Quote Originally Posted by Joshua01 View Post
    This topic is missing the third, and most critical variable....debt! You can't talk about money and credit without talking about debt
    There is no debt if the government issues the money to pay for infrastructure that result in productive facilities.

    Debt only arises when you borrow money.

    The hypothecation of an asset results in credit granted in exchange for debt until the asset is paid for.

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