The Secret 4 Riches

I’ve read over the years that approximately 96% of the money supply is in the form of mortgages, loans and interest which basically is all technically debt. So in other words, 96% of the money supply is in fact debt. Where as the other 4% of the money supply is in the form of paper money and coins. So my question is simply how is it mathematically possible for everyone to be debt free when the reality is there is not enough physical money to pay off all the digital debts? The world is pretty much doomed to be in debt until the end of time under this mathematical formula. In regard to this current world financial crisis some people will blame the housing market for this mess, others blame the derivatives market, others blame government spending and so on where I can keep going on for days about the many so called causes. In reality I personally feel that all of these are in fact just symptoms and results of the actual cause or larger picture which is simply the whole fiat monetary system which over time has morphed in a system of credit. It would not be befitting to put the words "money" and "credit" in the same package as they are two completely different things. We use to have "money" which was real. It was gold, it was silver, it was even copper but now our so called money is nothing more then a hollowed out shell or ghost of its former self. This "credit" we now use in today’s world is flawed in the fact that it is limitless and infinite and the amount knows no bounds as long as people are willing to keep on borrowing. This system is contributing to societies irresponsible and careless ways with their finances. What ever happened to saving money? We now just swipe our credit cards and worry about it later. The personal savings rate in the United States is now at its lowest point in history. To ask a sarcastic rhetorical question, could the credit system way of life be responsible? The credit based financial system in my opinion is one huge pyramid scheme or even a game of musical chairs. I don’t care whether we are talking about America’s credit system or even the one on the tiny pacific country of Fiji, either way the end result will be the same. Under this system the rich will keep getting richer and the poor will keep getting poorer. Until then one day the very bankers that were behind it will own every God damn thing on the face of the Earth including your soul which you used as collateral to pay for the big screen tv that you didn’t need in the first place.

I don’t think anyone is ever truly "debt-free". As long as you have an expense or a bill to pay, you’ll always have a debt.