The Myth of Inter-generational Debt

grandpa-reading-to-kids-intergeneration-tiThe Commonwealth government gross national debt, which currently stands at $421 billion is not debt in the true sense of the word. When the government borrows, it issues Treasury bonds and only accepts payment for those bonds in Australian dollars, not US dollars, not Pounds or Euros.

Read more at: The Australian Independent Media Network

Advertisements

One Response to “The Myth of Inter-generational Debt”

  1. 1petermcc Says:

    Hi John,

    I like the way you give a quick summary then link back to the AIM Network. I must pinch that technique myself.

    Really enjoy your regular contributions by the way. It gives me home for Aussie Democracy.

    Cheers
    PMc


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

The Mugwump Post

Australian Politics

Unions. Politics. And stuff.

Tracking Abbott's Wreckage

The AIM Network

The Australian Independent Media Network

The Extinction Protocol

Geologic and Earthchange News events

The Obama Diary

President Barack Obama ... photos, videos & a word or two

Spinthedoctor

Turning the tables on spin

%d bloggers like this: