More On The National Debt
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The National Debt Lens with Comment
Zazzle by Fillosopher
Poll Debt v. Currency
The Point Taken
A comment to my lens "http://www.squidoo.com/the-national-debt" (the lens that is linked above) indicated that he thought that there would be no currency if there was no debt. It seemed like he thought that debt created the currency that we use as money. In the modern economic system, I could see how he got that view, and only in some aspects he might not be very far off track.However, I do not think that money is an instrument of debt. I think that debt is an instrument of money.
If it be the dollar, the yen, the peso, or one of many other names, money is a representation of symbolic value and debt is a promise to pay something of value in the future. Before the banking system started the money system had been well established. Something of value was exchanged for something of value, or that represented value. Over time, a promise to give something of value became acceptable practice.
It does seem like a political debate as to how much a country should be in debt, but money or currency is not equivalent in any way to debt. Yet, taking on debt is a way to add to your current money supply.
Below are two clips from YouTube that illustrate one point of view on how debt and money are related to each other. The presentations are well crafted, even if you do not agree with their conclusions, or interpretations of the facts.
Money as Debt
Stuff on Amazon
Money as Debt 2
eBay Items
Debt? What Debt?
In an ideal situation, should the govenment of a country operate without going into debt?
As an ideal, never.
Cumberland says:
It has been done.
Tammylove says:
Of course it is ideal to "never" have debt. And I believe we need to teach our national accounts just a little bit better. Maybe that is the problem in itself... we have cut so much of our educational budget that our accounts don't know how to add! Or maybe most people who are in politics either come from a well to do family or once they start making money they forget how much things really cost and instead of paying $5 for a hammer they pay $500 for a hammer all the while saying "well we need that hammer so we gotta pay what we gotta pay". Maybe, we should make our govenment shop at Wal-Mart so we can get a good price for our "hammers" instead of allowing our government shoppers to order our "hammers" from their own business, thier cousins business, or their good buddies business. The problems of our national debt are many fold... and we need an audit as well as some new accountants!
Take out as much debt that it can.
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Your Comments
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jjprusk
Apr 28, 2012 @ 11:48 am | delete
- Keep up the good work as we need to keep focusing on this major problem.
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OrganicMom247
Oct 11, 2011 @ 10:16 am | delete
- Great lens! I learnt so much, cool insights.
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sousababy
Sep 2, 2011 @ 10:39 am | delete
- I am Canadian and saw the recommendation by puerdycat. Great points raised here, for sure.
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puerdycat
Aug 31, 2011 @ 10:59 pm | delete
- Like your idea so much that I posted it on amplify. Let me know if that's OK with you!
http://puerdycat.amplify.com/2011/08/31/debt-didnt-create-currency/
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BSieracki
Sep 4, 2011 @ 3:19 pm | delete
- shure, thanks.
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spiritualll
Aug 10, 2011 @ 2:04 pm | delete
- Hi!
I've seen your lenses!
They are nice!
Good luck on squidoo and may you earn much money!
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One Nation Under Debt
One Nation Under Debt: Hamilton, Jefferson, and the History of What We Owe
Amazon Price: $7.76 (as of 06/03/2012)
The history of America's first national debt. Arose from the need to conduct the American Revolution. Robert Wright, Ph.D. tells in narrative the events that shaped our financial system. He explains how the actions of our forefathers set the stage for the debt we have today.
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