tag:blogger.com,1999:blog-6089228851855763774.post7270518964756417227..comments2024-03-29T07:10:06.022+08:00Comments on Gold Chat: Teaching Children How Debt Is GoodBron Sucheckihttp://www.blogger.com/profile/00530576934994289879noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6089228851855763774.post-38800546084676301042008-08-18T20:20:00.000+08:002008-08-18T20:20:00.000+08:00Alas, as this debt-financed financial system depen...Alas, as this debt-financed financial system depends on debt for the very existence of money, to discourage debt would also discourage the creation of money, which would not be good for the economy. A growing economy, increasing debt, and a growing amount of money go together in our current system. Hence the importance of encouraging, or at least not discouraging debt. To change things would require no less than changing the entire debt-based international financial system - a huge task, but not impossible.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-60428066286612847652008-08-13T12:59:00.000+08:002008-08-13T12:59:00.000+08:00Very true. When I said debt is bad I meant when us...Very true. When I said debt is bad I meant when used for non income producing expenditures of course (one does need to be clear, lesson for future blogs). Antal Fekete explains debt/interest thus:<BR/><BR/>"what happens when a man with income to spare but who is in need of wealth meets another with wealth to spare but who is in need of an income?" (http://www.fame.org/HTM/Fekete_Anatal_Whither_Gold_AF-001-B.HTM)<BR/><BR/>The key being "income to spare"Bron Sucheckihttps://www.blogger.com/profile/00530576934994289879noreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-85076683573812262662008-08-11T18:48:00.000+08:002008-08-11T18:48:00.000+08:00Excellent blog sir. I applaud the teaching of fina...Excellent blog sir. I applaud the teaching of financial literacy but it is very important the message given should be to work smart and build assets that work for you. The use of debt should only be introduced once this message has been delivered. Debt should only be considered as a mechanism to drive positive cash flow not something to be serviced on a continual basis.Anonymousnoreply@blogger.com