Americans ought to be clear that national debt only comes from one thing: anointing private bankers to print public money as an I-O-U. 

Without enshrining that religious tithe into law, public debt is as real as the Tooth Fairy or Santa Claus.

Chocolate rainmaker. Singer. Thinker. Voice

Americans don’t like the premise that if we saddle others with debt (as well as ourselves), then the borrowed asset naturally must devalue or the trade is pointless. 

No one wants to take on debt in an asset that gets more expensive.