Comments by "" (@foxmoongaze) on "The national debt need never be repaid" video.

@RichardJMurphy All currency is a credit to some and a debt to others - credit issued though government spending is a debt that has to be repaid by the public through taxation. It is a debt unless you believe in theft.
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@RichardJMurphy Politely - what are you talking about? What is far-right, and what is extreme about what I have said?
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Government treasuries and central banks seem to be similar to a big legalised Ponzi scheme, with the debt managed by inflation and devaluation of the currency.
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@gdok6088 Spend, spend, spend, all with new borrowed money which inflates the money supply and devalues existing money causing big price increases for the public. Eventually faith in the countries finances is lost meaning big interest rates rises until one day no one will lend to it anymore, hello IMF and the debt spiral.
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@RichardJMurphy So why is a central bank good for the public? I'm sure it's good for the big financial institutions, but the whole thing looks a bit like a Ponzi scheme. A debt that can never be paid off and requires new money input to be able to pay obligations to earlier investors. If the bond buyers stop buying won't the whole thing collapse? Oh, wait, that's where the BOE steps in and becomes the buyer of last resort I guess. So the scheme always continues, the problem is kicked down the road, the debt inflates and the currency slowly becomes worthless.
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Government debt = consumption debt, not productive debt that can be paid back by the debt investment.
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The government has no money itself, but spends and wastes the public's future earnings with abandon, which is why we have this huge national debt. The debt is reduced/managed by inflation, which is in effect a stealth tax, which steals wealth from everyone (except the bankers and elite who receive any new money first before existing money devalues). So I understand the argument, but disagree that the debt is good. The GBP has lost 98-99% of it's spending power since the 1970s and is no longer real money, but currency and just an empty promise or I.O.U.
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