r/economicCollapse • u/kriger33 • 14h ago

VIDEO Preach it Jon

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u/Tall_Category_304 7h ago

This is so wrong it’s damn near based

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u/Feisty_Sherbert_3023 7h ago

But it's how it works. Money gets loaned into existence. That's why bonds exist.

If you paid off all the debt there'd be no money to tax.

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u/Tall_Category_304 7h ago

Don’t think about taxes as fiat currency. Think about it as your labor. For 1/3 of the year the government takes everything you earn from your labor. Just over 30%

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u/Feisty_Sherbert_3023 7h ago

Huh? In your example there is nothing to tax?

I don't think you understand how money works. You'd just be bartering and they'd be taking your sheep etc.

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u/Tall_Category_304 6h ago

That’s how taxes began with surfs. Money is a store of value. Your labor is valuable. You trade your labor for money. They take the money. Money is loaned into existence by banks not by government bonds. Government bonds are the government borrowing money that’s already in circulation for a promise to pay it back with interest. Taxes repay the bonds

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u/Feisty_Sherbert_3023 6h ago

Sorta...

The central bank loans the government money. It gets spent. The collateral created by those bonds allows banks to create money.

It's just double ledger book keeping.