In other words, the loan offered by a bank is a phantom until you take it up, and then it becomes your real future potential wealth – but owned by the bank.

Debt to fund community projects should come from real reserves, actual savings of cash, already earned superannuation funds, or at worst, government issued bonds, but never from banks unless from 100% declared cash reserves.

The real debt building up in the environment – the degraded soil and water, the chemical residues in the food chain – is quite enough to reduce our future wealth and standard of living, without giving away more to the imaginary debt of a “standard” bank loan.