Paul Grignon, in his video Money as Debt (see his channel), claimed that the lending of money by commercial banks by definition results in a never-ending increase of private debt. People cannot repay the interest rates charged by the banks, either low or high. He proposes to ban the interests asked by commercial banks. I will show here that his logic is illogical.
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The fallacies of "Money as Debt"
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Paul Grignon, in his video Money as Debt (see his channel), claimed that the lending of money by commercial banks by definition results in a never-ending increase of private debt. People cannot repay the interest rates charged by the banks, either low or high. He proposes to ban the interests asked by commercial banks. I will show here that his logic is illogical.