I agree with the first part of what you said. Charging interest on money you have just created out of nothing is a bad idea. How it is not criminal, I don't know.
As for the second part, you included: "as long as they are backed". The problem is that there is no real backing.
I agree with the first part of what you said. Charging interest on money you have just created out of nothing is a bad idea. How it is not criminal, I don't know.
As for the second part, you included: "as long as they are backed". The problem is that there is no real backing.
And there in lies the problem. That is the crux of what I was trying to say.
Printing money is not the problem, but the fact that it is not backed by anything AND we pay interest on it are the real problems.