Tim Knowles
Aug 25, 2017 · 1 min read

Something else to consider regarding “If all governments were to repay their debts, there would simply be no money in circulation!” Of course there would be money in circulation it would be in the hands of the bond holders who were paid off.

More rationally governments would pay off their debts by first balancing their budgets, then they would start retiring their debt by just letting the bonds mature. With much government debt having maturities as long a 30 years it would be a gradual process.

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    Tim Knowles

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    Worked in our nations space programs for more than 35 years