Comments by "The Phoenix Saga" (@The_Phoenix_Saga) on "What Everyone Gets Wrong About Global Debt | Economics Explained" video.

  1. There's just one MINOR detail that wasn't ever covered... the currencies used to pay back the debt are BASED on debt. Meaning it can't ever be paid back since the value of a currency based on owing something is essentially zero. Money loaned on any level, if it's not backed by physical collateral then it has no intrinsic value - how then can it gain worth in which to pay back what it owes. Short answer - You DON'T.
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