No Stef! I’m not arguing that the Bank of England is wrong. And I’m not saying that money isn’t created and destroyed.
But what I am suggesting is that you have probably misunderstood the situation, as a quite understandable result of not being a skilled economist.
Skilled as you may be in other areas, you appear to be out of your depth in the field of Economics.
I’d love to be able to have a “peer discussion” with you. However, I very much doubt I can match your skills in the field of software design. And my skills as an economist and as a rational thinker are probably a very long way in advance of yours. Whilst I’m humble enough not to pretend I can outperform you in your specialists field(s), please have the humility to appreciate that you may struggle to match my understanding in my specialist fields. What you believe are reasonable claims in such fields may be an obvious load of babbling nonsense to me.
I do, however, have some pre-prepared resources that you might like to make use of:
A Sick Joke About Economists
There’s a sick joke being spread around social media sites about economists.
Here’s What I Think About Your New Currency System
And I have some suggestions for what you could do next.
I hope you find them helpful!
Have a great day!
P.S. I had a look at your video —’ How Money Works’. Hopefully you’ll now be open-minded enough to realise that you’ve based your ideas on a false premise. ‘Sonja’ can indeed pay back her loan and pay the interest. The bank can simply spend an extra 10,000 Euros buying something else off of Sonja, using money they create themselves if necessary — and then she can afford to repay the interest she owes. Add it all up and you should be able to see that all debt has been repaid, all the interest has been paid and there is no remaining debt to worry about. (The bank doesn’t charge itself any interest!)