Re: “Our Land: Collateral for the National Debt”
The $0.1 interest represents a claim on my labour to the value of $0.1.
If it represents a claim on your labor then why can’t you pay the banker with your labor. The only thing he will accept in payment is monetary units, not labor.
In my very simple system this could be repaid directly by services or goods rendered by myself to the bank owner/money lender and there would be no need to print any extra money.
The only way they will accept those things is through forecloser. I do know someone who tried doing that very thing, legally, and I would not recommend it to anyone. You would probably not enjoy the outcome, as i’m sure he did not enjoy it.
However,we can make it a bit more complex (let’s say the bank owner doesn’t want what I produce) and let the bank use the IOU from me (or monitise the claim into more recognisable currency) to allow the bank owner to obtain goods from someone else.
I’m not going any further because all of this stuff you wrote is all theory and ignores the facts of how the real world operates.
If this works so well then I suggest you go try it.