Did you realize that banknotes are just I.O.U.'s, but they won't
let us print up our own I.O.U.'s but then we're using I.O.U.'s but they're somebody elses, and we're given these I.O.U.'s to use but
are never really paid? An IOU (abbreviated from the phrase "I owe
you") is usually an informal document acknowledging debt. An IOU differs from a promissory note in that an IOU is not a negotiable
instrument and does not specify repayment terms such as the time of repayment. IOU's usually specify the debtor, the amount owed, and sometimes the creditor. Which means all we really have and hold are debts,as a direct result.But the definition says that money
extinguishes all debt. IOU currency would put Greece in line to
quit the Euro..........which is in itself an IOU currency...but it
is being made worthless by more printing of it, whilst the USA
prints up more and more of it's I.O.U. currency and so it increase
in value because it is U.S.A. currency, you see...no Euro nor Greek I.O.U. currency. A company's IOU is counted as an asset on the balance sheet because another party owes that company money or goods.
When banks make loans, they create money. This is because
money is really just an IOU,so money is just an I.O.U. and the
banks are rolling in it. Now, government, such as the U.S.
government, when it wants money for The System, it prints up a
Treasury Certificate, which is ALSO, an I.O.U. promising to pay the
Treasury Department, whatever, whenever,however, IF it ever can,
the Treasury Department then prints up the money which is in fact
just I.O.U.'s.The government must create and then SPEND its dollars in order for the private citizens to earn the dollars they need to pay their taxes.
So, if government doesn’t need your tax dollars in order to spend,
does government tax at all?It is based on the insight that the
government DOES, in fact, need to collect taxes, but the “taxes” it
collects are not your “tax dollars.” Taxes drive money—in other
words, private citizens are willing to provide goods and services
to the government in exchange for government’s paper dollars
because they NEED those dollars (government I.O.U.s) to pay their future taxes. A paper dollar, printed by the sovereign U.S.
government, is nothing more—and nothing OTHER than—a tax I.O.U. which states, in effect: “The sovereign U.S. government owes the bearer one dollar of tax credit on the day taxes are due.”Because of this I.O.U. pledge, the government is able to use the paper dollar, in the MEANTIME, to purchase real goods and services from private citizens and businesses. The citizens and businesses are willing to exchange their real goods and services for the paper dollars because they will NEED the I.O.U.s (dollars) to present to the government on “tax-day”. When the government collects “tax dollars” it is NOT collecting something it “needs” but, instead, is simply collecting back (or cancelling) its own I.O.U.s (The ACTUAL taxes are the real goods and services it had prevIOUsly received in return for those I.O.U.s). A paper dollar is a tax I.O.U., what is a Treasury bond?
The common understanding is that Treasury bonds represent a “debt” which the government must “repay” in the future. But look how our new perspective requires that view to shift:a private citizen “buys” a Treasury bond. What takes place? The citizen exchanges say a hundred paper tax I.O.U.s for another piece of paper (the Treasury bond) which is…what? It is another government tax I.O.U. pledging to pay, at a specified time in the future, a hundred and SEVEN paper tax I.O.U.s (the original hundred plus 7 percent interest.) What is unique in this transaction is that, while it appears the government is in “debt” to the citizen, what it “owes” the citizen is nothing more than its own promise to accept these I.O.U.s (dollars) as tax payments.
In short, money as such is entirely worthless,just so much printed
paper, to promise payment of something or other,which does in fact not really exist at all as such......For some reason they system
has broken down in Europe, the Euro becoming and being regarded as worthless, which is in fact a reality, it is as worthless as the other currencies in Europe are or were, and the only currency solidly worth something and regarded as something is the American dollar, an I.O.U. based entirely on Treasury Certificates, which are I.O.U.'s which permit the printing of more I.O.U.'s and also Treasury Bonds which people buy with their I.O.U.'s and are a form of the Treasury Department collecting I.O.U's such that it has something to show for it all. So what's the problem with the Euro nations, they can't seem to print up enough to satisfy demands...are there sufficient presses available to print up the I.O.U. money papers. What thence is the problem that makes Euro money paper worthless compared with the U.S.A. printed up I.O.U. money papers?
Or is it then that the I.O.U. money papers printed up in certain
locations are thought of being worth something or other much more than those printed up in their local area? So there we have it, the I.O.U. money converted to nothing or less than nothing or something depending if it's regarded as being worth something or other of which we know not what,depending on where it is printed up. At least so it seems.
Secret Squirrel,
MRL,MP,(Dunny On The Wold),
Minister For Re-Deranged Re-Engineering.
