Would a private, parallel precious metals-currency make a difference, maybe?
Let’s see. An established, parallel, non-state-run precious metals currency would give people the power to decide to get off, or stay off, the government-run debt racket. Governments, on the other hand, would not be able to manipulate a currency that they did not establish. They could only outlaw it altogether. People who want to save money could simply save their metal currency. They could still decide to work for paper-money, of course, but in order to make them accept and trade in paper (or computer-blip) currency, their government of choice would have to offer gigantic interest-rates as an incentive to bridge the by then obvious risk-gap. That would make government borrowing very, very expensive – to the government, of course. The only ways for the government to reduce that expenditure would be (a) to jack the tax rates up sky-high, or (b) to inflate its way out of the problem. Inflating its way out would make their paper even less desirable (by reducing its purchasing power) and w
