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Re: Need an economist on money creation?
Here is an interesting thought in this topic. Our currency is valued based on the strength of our economy. I don't believe our debt is taken into account though when those valuations are made. The US economy had a GDP of $13.8 Trillion in 2007. The national debt is $9.5 trillion. Shouldn't our debt devalue our currency? After all, it is kind of like having a mortgage on a home. If you owe 90% of the value of your home you should only be calculating 10% of your homes value to determine your net worth.
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