See, here is a disconnect
While it’s worth a dollar, it may be worth €0.6 or €0.4, ¥ 6.75 or ¥5.5
This is why we choose to pay interest
I recognize the inflation that doesn’t happen to the US or Japan, or likely any developed nation, because so many are invested in maintaining the value of things they own, like reserve currencies, but all the other countries suffer the indignity of not only paying interest but unsustainable interest, and scarce availability of that… so we also pay interest… knowing that there is somewhere a limit
Consider what you said about the wealthy getting richer from passive secure sovereign interest, and how this rule instead distributes that interest to each directly, and removes sovereign debt from private investment, forcing the money currently backing sovereign debt into commercial investment… (there is no right to purchase sovereign debt)
..this distributes the stability provided by government debt equally to each, instead of limiting this economic support to those with money that should rightly be invested in value creation, globally
By standardizing the fiat credit globally, we enable each nation access to sustainably priced credit proportional to their population, and sufficient for their needs
“Taxes give the currency value”… now this is getting silly, taxes give money it’s value by making interest payments
“As long as the contract calls for repayment of the amount borrowed in existing currency the net effect is not the creation of any money”… the net effect is the creation of money if the principal is not repaid
In this way sufficient money may be created to create the capital needed to provide sufficient income to each, at a fixed sustainable rate, with the interest funding a global basic income, assuring a constant/consistent demand for basic needs, and the efficiencies to reduce the cost of providing them
“Anyone can issue currency/debt”… ok, but when it is US currency, it functionally creates the money
“You do realize that the “debt” represents “ALL” currency in existence, right?”… Yes, that is the point, to standardize fiat credit globally and limit the creation of money/debt to a sufficient per capita value, and pay the interest directly to each
While your perspective is an accurate description of US law, and the sovereign right claimed to do what they wish with their currency, global trade places external demands that limit and guide policy, so literal reality and functional reality diverge
Thanks again for your kind indulgence
