the banking system is not based on debt —- it’s based on the future

The whole banking system is geared to the future — the near future and the distant future.

Future Earnings or Future Income.
The future earnings/income of the borrower.

The bankers assume, rightly or wrongly, that the borrower will have earnings/income in the future.

They plan for their money to return like a boomerang, plus interest.

If the borrower does not have earnings/income in the future, the bank stands to lose money.

A good example of this is the U.S. foreclosure problem.
The bankers boomerang did not return.

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https://gheorghe47.wordpress.com/2010/11/18/people-spending-money-they-don%E2%80%99t-have/

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