> The only way to pay off the debt would be to change the mechanism via which money enters the economy so that it is no longer tied to a debt as it does so.
Yes, all money is created in the form of debt, which implies that it has to be paid back with interest. There is no way for everyone to pay off all outstanding debt.
However, you are forgetting that not all debt is paid off. Some of it defaults, which destroys money.
Yes, all money is created in the form of debt, which implies that it has to be paid back with interest. There is no way for everyone to pay off all outstanding debt.
However, you are forgetting that not all debt is paid off. Some of it defaults, which destroys money.