Letters To the Editor

Island of money can't solve debt problem

Published on Thu, Mar 11, 2010
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To The Eagle:
Most people have difficulty visualizing the size of the national debt. As of today, it stands at 12.56 trillion dollars.
Lately I have been trying to think of some way to illustrate that number in a way that local folks might be able to relate to. I thought perhaps most of us can visualize how big Puget Island is. There are places on the mainland that offer a vantage point for a pretty good view.
Suppose we placed eight $10,000 Federal Reserve Notes on every square foot of Puget Island, including Little Island. That would be enough money to pay the national debt with some left over.
Can we manage to repay this debt?
The answer, unfortunately, is no. Because if we applied all the money in the nation to the national debt, we would be way short of repaying it. And if we did that, we would be left with no money.
We are the victims of a money system that creates more debt than money. It is a great system for the banks. It is a terrible system for everyone else.

Gilbert Vik
Cathlamet

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