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Everyone treats
government debt as a bill that is going to come due
one day.
It is not a bill. It is a circle.
Money gets printed, spent on roads
and bridges, saved in banks, lent straight back to the government,
and spent again.
It ran for fifty years and nobody ever needed it to
stop, because the debt was never meant to be repaid.
It was meant to
keep moving.
It stopped moving.
The savings that used to sit in banks went into
the stock market instead, the banks ran short of what they lend, and
that is why the road works stalled, why the tax bill only moves one
way, and why central banks are quietly buying gold again.
This is the global debt crisis, explained with gorillas, monkeys,
and a mountain of paper that nobody is ever going to pay... |
