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Eh??? By that account everyone should be able to pay off all their debts.

It's not enough to have a "renewable" source of income (such as tourism, moderate farming/fishing, solar energy, etc...). Everyone, including countries, also have bills to pay. And if you have a debt you also have to pay the interest on your debts.

As long as the money they make from this renewable energy source is less than what they need to pay for their bills (e.g to import food) plus the interest in their debt, they are still losing money.




In a fractional reserve banking system there is never enough money to pay all the debts. And with a debt based currency, the money is the debt. It's impossible to pay back all the debt.


What do monetary fictions have to do with real things?




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