Comments by "" (@downshift4503) on "Saving in itself is merely negative" video.

If you think of it in an extreme sense, even if everyone saved every penny they could and stopped spending as much as possible, the economy would go into recession, monetary policy would reduce rates and the government would spend new money to counteract the lack of spending. Richard argument only really works in scenarios like a gold standard. The monetary system can expand / contract to accomodate the saving / investment desires within the economy (not that its perfect though).
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@Redf322 "What about money offshore?" similar to my other reply in this thread, as we are not on a gold standard, new money is likely to be spent into existence over time to accommodate lack of demand.
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Government spending (reerves / currency) is a liability of the government and you require it for taxation. It doesn't matter whether you prefer to call it money or not, that's just an argument about definitions. You still need to acquire it. It doesn't matter whether it's made of paper, metal or numbers on your bank statement.
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@foxmoongaze "promise made when the currency was originally issued", do you mean gold? That is no longer a promise. They will still accept it for payment in taxes though. If you have £10 you can use that to your tax liability in the future, it will always be worth £10.
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