It seems like a new banking system backed by something tangible again like how it was in the 1800's and prior would be a good move but would those of us in debt still be in debt to the banks? If not, how would our debts magically be absolved?
Example, say you owe money on your car and you have a ton of outstanding debt to a bank or credit lender. How exactly does implementing a new system of banking nullify this? Can't the bank still say "Since the USD is defunct, now you owe us the "New US Treasury Certificate" equivalent of that amount"?
I just can't quite put 2 and 2 together how the new currency would be debt free without older debts being absolved first.
This! Almost all promissory contracts are in fact illegal according to our own laws. This is why they took economics out of schools. So the little people don’t understand what the hell they are signing. In fact it is fraud and illegal. People don’t want to be in debt, 90 percent of people want to pay back the fair price of said debt. Now the banks come along and issue promissory notes for money they never had to give. It’s like me handing you a piece of paper saying it’s good for 10k (that I don’t have) you go and give it to the car dealer for your car, car dealer brings it back to me and I keep issuing more paper that has no real value but is being exchanged for “debts”. The money NEVER existed. That’s what people need to understand.