The US government does not print or create money in circulation other than minting coins and printing bills only to replace old ones. Who drains money out of the system or adds money into circulation is the Federal Reserve. Always has been always will be. Else monetary policy would be completely obsolete. Governments cannot print themselves out of debt (and let's keep inflation out the door in this discussion because it is also nothing that the government directly controls, but again the Fed via monetary policy, aside other external contributing factors)
You might be confusing two things here, there might be no connection. I assume you were talking about US here. Infant mortality rate is one of the highest in OECD countries, education levels are high but not the highest, US ranks 31st in life expectancy which isn't that great. Of course you can say you were comparing to Somalia and Pakistan...
Why shouldn't they charge us interest on it? Banking is a business. If you wanna borrow money from a bank, why should it lend this money to you for free? Maybe if we were living under strict sharia law, with its prohibition of riba...
It has been my experience that even highly educated people express disbelief when confronted with the fact that virtually all money in existence is created by a handful of people out of thin air as debts enforced by legalized violence. For example, Sig is creating straw men arguments, like the only alternative to the current money creation system is a return to the feudal dark ages (by the way, it is true that during the feudal dark ages fractional reserve banking was considered high treason and the guilty were to be hanged, drawned and quartered). Since access to life on this planet is granted in terms of money, the power to create money is the power of life and death and we should welcome transparency and equitableness associated with that power. In the words of Josiah Stamp who was a director of the Bank of England: "Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take away from them the power to create money and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money."
Firstly, the description of fractional reserve banking as high treason is rather misleading and wrong. Secondly, there is no record of Josiah Stamp ever saying anything like what's quoted above.
Please explain how the money supply increases. Where does it come from? Where did the Fed get the money to purchase Ts during QE? How does the M2 increase? Where did all of this money come from? How is it larger than the M2 money stock?
In the age of full reserve banking, fractional reserve banking was called counterfeiting. In regards to Josiah Stamp it is true that the above quote was allegedly attributed to him.
very simple, the Fed credits the banking accounts of the institutions that sold securities to it. The Fed basically adds to the reserve accounts, banks hold with the Fed. But what has your post to do with my criticism of the claim that the US government controls the money supply?
That's not correct... In general, kings routinely enjoyed the benefits offered by fractional reserve banking and only had issues with it when the bankers refused to cooperate (e.g. Edward I of England and the Ricciardi of Lucca in the 13th century). The point is that, if you're the king, fractional reserve banking is fine. If you're a commoner, it could be treason. Finally, yes, the quote is allegedly attributed to Josiah Stamp. However, there is no record of him ever saying anything of the sort.
I am assuming the question is referring to public rather than private debt. Its core source is rooted mainly in a combination of three things 1. defense industry lobbying and propaganda; 2. The U.S. Medical Cartel; 3. Irrational fear.