as long as there is money in society there always will be dept.
if consumers pay off all their dept on credit cards.
if homeowners pay off all their mortgage dept for property.
if all small businesses pay off their dept.
if all institutions pay off their dept.
if all banks pay off their dept to investors, foundations, etc.
if all states pay off their dept to banks, IMF and other organizations.
in other words, if every single individual or organization pays of their dept there wont be a single dollar bill in circulation which means an end to our current system, which is something most people do not want to happen (no matter how broken and inefficient it is)
in other words, if every single individual or organization pays of their dept there wont be a single dollar bill in circulation which means an end to our current system, which is something most people do not want to happen (no matter how broken and inefficient it is)