A Debt Based Monetary System Does Not Lead To Default
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Many believe that a debt based monetary system is guaranteed to lead to defaults. The logic, which is valid, is that not enough money exists to pay back the money created plus the interest.
In this video I discuss how this is not the case. The flaw in the logic is the presumption there would be 100% success to begin with. Defaults are going to happen since failure is a part of innovation and evolution. Companies are going to end up bankrupt for reasons other than the monetary system. The same is true for housing defaults. People fail to pay their mortgages for many reasons.
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