Quote:
Originally Posted by [MERIT]
say 5% [or any arbitrary number].
So, there is now $1 BILLION in circulation, but that country is now in debt, owing $1,050,000,000.
It is IMPOSSIBLE for that country to pay the money back, because that amount of money doesn't exist!
How is this beneficial to a nation?
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Doesn't $50mil exist outside the US where products/services can be sold? Unless I'm missing something you'd only be correct if it was a closed system.