If you borrow the very first dollar into existence, but promise to pay it back with another dollars worth of interest, where do you get the second dollar? How do you pay it off?

If you borrow the very first dollar into existence, but promise to pay it back with another dollars worth of interest, where do you get the second dollar? How do you pay it off?
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1 Answer

Answer :

By making more debt from another party. The entirety of today’s economy is based on creating more and more debt. Because of interest, you have to create more debt, there is no way around it, and this cumulative debt grows and grows, until the entire house of cards invariably collapses.
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Related questions

A man phoned his daughter to ask her to buy a few things he needed for a trip. He told her she would find enough dollar bills for the purchase in an envolope on his desk. She found the note with 98 written on it.In the store she bought $90 dollars worth of things, but when it was time to pay she not only did have $8 left over but she was short.By how much and why? -Riddles

Description : A man phoned his daughter to ask her to buy a few things he needed for a trip. He told her she would find enough dollar bills for the purchase in an envolope on his desk. She found the note with 98 ... time to pay she not only did have $8 left over but she was short.By how much and why? -Riddles

Last Answer : (A). $4. She had read 86 upside down. (B). Turn 9 upside down and exchange it with the 8. Both columms will add to 18.

If you have adult children, and they ask to borrow a large sum of money, do you expect to get it back?

Description : If you have adult children, and they ask to borrow a large sum of money, do you expect to get it back?

Last Answer : Well, my daughter is not an adult yet (she's 15), but I have a simple rule about money that I'll probably apply to her too. I do not loan anyone money. If I can afford it, I will give it ... cannot. I've seen far too many examples of loans that just lead to all sorts of drama and hurt feelings.

Hypothetically, if you purchased something from a yard sale and discovered it was worth millions of dollars, would you split the money with the original owner?

Description : Hypothetically, if you purchased something from a yard sale and discovered it was worth millions of dollars, would you split the money with the original owner?

Last Answer : answer:No. Why? They made the determination that the item was of no value to them before I ever walked up the driveway. That was their assessment - I didn't cheat them or lie to them - that ... clearly of sentimental value - a class ring, a diploma, an Olympic Gold Medal, or something like that.

If I borrow from my 401 K, do I have to pay any interest and penalties?

Description : If I borrow from my 401 K, do I have to pay any interest and penalties?

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What would you do if you found out your government had to borrow money from a private bank to run the ecconomy, and that this was the real cause of inflation?

Description : What would you do if you found out your government had to borrow money from a private bank to run the ecconomy, and that this was the real cause of inflation?

Last Answer : My government borrows money from private entities all the time. The government has always been borrowing from private entities, and has never been able to function without it. We’ve never been without a national debt. Buy a Treasury bill?

Banks in the US, active with the FDIC, only insure $100,000. So if a person has, for example, 10 million dollars and wants to deposit the money in a bank, does he have to look for 100 banks or is there another way to invest that is as low risk as a savings account?

Description : Banks in the US, active with the FDIC, only insure $100,000. So if a person has, for example, 10 million dollars and wants to deposit the money in a bank, does he have to look for 100 banks or is there another way to invest that is as low risk as a savings account?

Last Answer : A person with 10 million dollars probably has a diversified investment portfolio with a variety of risk levels and return levels. As a result, his insurance is that not everything will collapse at the ... 10% above inflation, banks are a very poor choice for someone with lots of money to invest.

Is anyone here knowledgeable about Variable Rate Demand Notes? (Floating Rate Demand Notes) - they seem to pay attractive interest, but are not regulated or insured.

Description : Is anyone here knowledgeable about Variable Rate Demand Notes? (Floating Rate Demand Notes) - they seem to pay attractive interest, but are not regulated or insured.

Last Answer : If you are comfortable with the company, it is probably a good investment. Depends on how much money you are talking about. Is it long term money or short term money. If long term, ... fixed annuities. (NOT VARIABLE ANNUITIES). Despite the similarity in name, they are very very different products.

Are Kennedy half-dollars and Eisenhower dollar coins worth more than face value?

Description : Are Kennedy half-dollars and Eisenhower dollar coins worth more than face value?

Last Answer : It totally depends on the year they were minted, their metal composition, and lastly their quality.

In recent history, 1 U.S. dollar was worth 1.329 Canadian dollars. An automobile in Toronto sells for 25,000 Canadian dollars (CAD). The same car sells in Detroit for 19,000 U.S. dollars.Calculate the cost of the Toronto automobile in U.S. Dollars?

Description : In recent history, 1 U.S. dollar was worth 1.329 Canadian dollars. An automobile in Toronto sells for 25,000 Canadian dollars (CAD). The same car sells in Detroit for 19,000 U.S. dollars.Calculate the cost of the Toronto automobile in U.S. Dollars?

Last Answer : 20 million

What happened to the new multi-colored hundred dollar bills we were supposed to get a few years back?

Description : What happened to the new multi-colored hundred dollar bills we were supposed to get a few years back?

Last Answer : answer:I don’t think they ever got congressional approval to make the change to the multi-colored format. I wish they had, it would make counterfeit bills much more difficult to create.

Would it make sense for me to pay off a loan with another?

Description : Would it make sense for me to pay off a loan with another?

Last Answer : You should pay off the loan with the higher interest rate first.

Why would corporations offer bonds that pay 5 to 6% interest?

Description : Why would corporations offer bonds that pay 5 to 6% interest?

Last Answer : some do because they need to borrow more than the banks are willing to loan.

I am unemployed. Do I pay federal tax on interest rate income i make from investing in treasury notes?

Description : I am unemployed. Do I pay federal tax on interest rate income i make from investing in treasury notes?

Last Answer : I would check the IRS website….but you probably do have to pay taxes on that income if it exceeds a certain amount.

If people borrow money, shouldn't they have to pay it back?

Description : If people borrow money, shouldn't they have to pay it back?

Last Answer : Yup! All the banks and other corporations that were bailed out and/or received any kind of corporate welfare by the government should have to pay it back.

Could someone explain very simply what negative interest rates are?

Description : Could someone explain very simply what negative interest rates are?

Last Answer : answer:Normally, when you have a savings account, interest causes your balance to increase over time. Negative interest means your balance decreases. So, negative interest applied to normal people means that ... to borrow money. Of course, that would never be applied to normal people taking loans.

If you started with a dollar how soon do you think you could flip it into six figures?

Description : If you started with a dollar how soon do you think you could flip it into six figures?

Last Answer : I could do it in a day considering I picked the right house. 1.beat up a punk and take their knife 2.go to rich neighborhood 3.break in in the middle of the day 4.knock/bind out wife and ... from work. 5.ask for 100,000 dollars 6.give back family A super simplified version of getting cash quick.

What is the difference between existence and essence?

Description : What is the difference between existence and essence?

Last Answer : Ive always thought of essence to be the components of what something is made of, so that can be concret, or figuerative. existence is something being what it it is. at least I think this is what you meen.

Saw where a store clerk at a convenience store won 258 million dollars! If you won that kind of money, what would be the first thing you would do with the money?

Description : Saw where a store clerk at a convenience store won 258 million dollars! If you won that kind of money, what would be the first thing you would do with the money?

Last Answer : Travel Travel Travel Travel Pay off my Bills. Move into a house (from the apartment we now live in.)

What is a collectible penny to look for? Nickel, dime, quarter, half dollar? The details matter.

Description : What is a collectible penny to look for? Nickel, dime, quarter, half dollar? The details matter.

Last Answer : Can’t really answer that with a lot of detail but one thing for sure not to miss are the silver coins. Old quarters and dimes that are 80% silver are worth considerably more than face value. They’re also easy to spot. I almost guarantee you’ll have a few.

How do you feel about the controversy over a woman's image on the ten dollar bill?

Description : How do you feel about the controversy over a woman's image on the ten dollar bill?

Last Answer : answer:Fighting over which one is just wasting time. As long as it's a $5, $10, or $20 I'm fine with it. Not because of who is on it now, but because those bills are used a lot. Why just ... bet the majority of people don't even know who is on what bill except for maybe Washington on the $1 bill.

What would you do with a $440 million dollar Powerball win, and who would you tell, and who would you avoid knowing you have become ”gripped”?

Description : What would you do with a $440 million dollar Powerball win, and who would you tell, and who would you avoid knowing you have become ”gripped”?

Last Answer : I would build my own science foundation and private tech school like Bill Gates has. I would donate $1,000,000 to Nova science now to make more physics programs from K- 12 - Ph.D. I ... make future inventions happen. naturally I would have steak and potatoes every night and feed my self, better.

Dollar for dollar which crime is more profitable (money-wise) to do?

Description : Dollar for dollar which crime is more profitable (money-wise) to do?

Last Answer : Booster… they sell that stuff on E-bay as new.

Why does the British Pound outweigh the US Dollar in value when it seems that the economy of the United States is far more powerful?

Description : Why does the British Pound outweigh the US Dollar in value when it seems that the economy of the United States is far more powerful?

Last Answer : answer:I think that, in general, it has something to do with the fact that the British economy is strong and reliable, and that the UK has always had very profitable trading agreements throught ... how the buying power of a coin is, supposedly, representative of its country's credit reliability)

What is the fastest way of detecting a fake dollar bill?

Description : What is the fastest way of detecting a fake dollar bill?

Last Answer : give it to a bank teller… :P

What was on the backside of a dollar bill before 1935?

Description : What was on the backside of a dollar bill before 1935?

Last Answer : answer:This quote from a site that is selling the 1934 $1 Silver Certificates: Information on these Silver Certificate Series 1934 One Dollar Bills: In 1923 all US Currency was changed to its current modern ... THE BEARER ON DEMAND . This change was made to reflect the Silver Purchase Act of 1934.

The 50 dollar give-through-give-through (relay?) project. [Details inside].

Description : The 50 dollar give-through-give-through (relay?) project. [Details inside].

Last Answer : Isn’t this the same as barter?

Do you think the US dollar will rally?

Description : Do you think the US dollar will rally?

Last Answer : Early 2013 at the earliest. Until then, incompetence will still keep its value down.

How did the U.S. Dollar Bill receive the name "buck"?

Description : How did the U.S. Dollar Bill receive the name "buck"?

Last Answer : I’m guessing a saying derived from a time/area where buck skins were dealt as a currency.

What is the break down for one federal tax dollar in 2010?

Description : What is the break down for one federal tax dollar in 2010?

Last Answer : answer:You might have to do a little bit of math to break it down to specifically one dollar, but here’s an excellent infographic for the federal budget: http://www.wallstats.com/deathandtaxes/

How did the U.S. Dollar Bill receive the name "buck"?

Description : How did the U.S. Dollar Bill receive the name "buck"?

Last Answer : I’m guessing a saying derived from a time/area where buck skins were dealt as a currency.

Do you think that there is witchcraft and hidden messages written on the one dollar bill?

Description : Do you think that there is witchcraft and hidden messages written on the one dollar bill?

Last Answer : And a recipe for fruit cake…now that is witch craft!

How does Dollar Tree make money?

Description : How does Dollar Tree make money?

Last Answer : By selling cheap crap that costs 20 cents to make for a dollar.

How can I get money to buy a 30,000 dollar home?

Description : How can I get money to buy a 30,000 dollar home?

Last Answer : I could be wrong, but I think that you need to have an income for a home loan. I’ve never bought a home, but with a car, I know the first thing they ask is how much do you make?

Value of a 1963 Dollar Bill?

Description : Value of a 1963 Dollar Bill?

Last Answer : $5? any pics?

How do you make a lip origami from a dollar?

Description : How do you make a lip origami from a dollar?

Last Answer : I just saw this app for 99 cents. They don’t mention lips but there are lots of other shapes.

Where can I find out the age of an old dollar bill?

Description : Where can I find out the age of an old dollar bill?

Last Answer : radiometric dating

Where does it originate and what does the word Dollar mean?

Description : Where does it originate and what does the word Dollar mean?

Last Answer : In 16th c. daler, daller, a. LG. and early mod.Du. daler (mod.Du. daalder), = HG. taler, thaler, recorded by Alberus 1540, along with the full term Joachimstaler, lit. (gulden) of Joachimsthal' ( ... (Kluge). From LG. or HG. taken into other langs. In England before 1600 modified to dollar. (OED)

What percentage does dollar-cost-average make sense?

Description : What percentage does dollar-cost-average make sense?

Last Answer : answer:I would probably wait until a little closer to their quarterly report. Just a thought. Not something I invest in, just not my cup of tea...uhhmm...coffee. (pun intended)

Why do the new 5 dollar bills say 2006 on them?

Description : Why do the new 5 dollar bills say 2006 on them?

Last Answer : answer:AHA!!!! Found the answer!! http://www.moneyfactory.gov/newmoney/main.cfm/media/about This media center has been developed to provide information about the U.S. redesigned ... inquiries about other Bureau of Engraving and Printing products and programs, please visit www.moneyfactory.gov.

When you get a golden dollar coin as change, do you plan on not spending it?

Description : When you get a golden dollar coin as change, do you plan on not spending it?

Last Answer : I take it to the bank, and get a more-spendable dollar bill for it.

In what year did the motto's Novus Ordo Seclorum (New Order of the Age's), Annuit Coeptis (favors undertakings), and E Pluribus Unum (Out of many, one) start appearing on dollar bills?

Description : In what year did the motto's Novus Ordo Seclorum (New Order of the Age's), Annuit Coeptis (favors undertakings), and E Pluribus Unum (Out of many, one) start appearing on dollar bills?

Last Answer : Novus ordo seclorum and annuit coeptis since 1935. E pluribus unum since 1796. Wikipedia knows all.

Was US Dollar ever backed by gold and silver?

Description : Was US Dollar ever backed by gold and silver?

Last Answer : Yes. Nixon took us off the gold standard.

Ravi borrowed some money at the rate of 4 p.c.p.a. for the first three years, at the rate of 8 p.c.p.a. for the next two years and at the rate of 9 p.c.p.a. for the period beyond 5 years. If he pays a total simple interest of 19,550 at the end of 7 years, how much money did he borrow? a) 39,500 b) 42,500 c) 41,900 d) 43,000 e) None of these

Description : Ravi borrowed some money at the rate of 4 p.c.p.a. for the first three years, at the rate of 8 p.c.p.a. for the next two years and at the rate of 9 p.c.p.a. for the period beyond 5 years. If he pays a ... 7 years, how much money did he borrow? a) 39,500 b) 42,500 c) 41,900 d) 43,000 e) None of these

Last Answer : Let the amount borrowed be Rs P Total amount of simple interest = (P×3×4)/100 + (p×2×8)/100 + (p×2×9)/100 = 19550 0.12P + 0.16P + 0.18P = 19550 0.46p= 19550 P = Rs. 42500 Answer: b)

What would you buy with 100 dollars?

Description : What would you buy with 100 dollars?

Last Answer : Replacement meals milk shakes , and microwavable pasta chef ‘bo ‘r ‘d

What do you invest in with one million dollars?

Description : What do you invest in with one million dollars?

Last Answer : A mixture of mutual funds, tax-free bonds and possibly some in money market funds or laddered CDs – although they have very low interest rates at this point.

If you had infinite money , or 1 trillion dollars, and access to talent how close can you get to build a starcraft/probe/shuttle?

Description : If you had infinite money , or 1 trillion dollars, and access to talent how close can you get to build a starcraft/probe/shuttle?

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Wait, what? The right thinks if they reduce federal spending then we will climb out of all our problems and all the needs that these tax dollars were meeting will evaporate?

Description : Wait, what? The right thinks if they reduce federal spending then we will climb out of all our problems and all the needs that these tax dollars were meeting will evaporate?

Last Answer : answer:No, no, no. That would just be pushing the problem down so congress can look good playing high and mighty and not have to deal with it or the peeved, headache inducing, voters. ... , you die, whichever. Please avoid standing in the sarcasm for prolonged periods, it may prove disorientating.

Just what would you buy with 10 thousand dollars?

Description : Just what would you buy with 10 thousand dollars?

Last Answer : I’d pay off what debt I have. So to answer the question, freedom for debt.

Oops - I can't find my client's 1 BILLION dollars. How stupid do you think we are - Jon?

Description : Oops - I can't find my client's 1 BILLION dollars. How stupid do you think we are - Jon?

Last Answer : Sadly he has enough money that he will never see the inside of a jail cell if he truly is guilty. If he is not guilty then there is a chance he will blow it during his trial by spouting off ... else. One things for sure in my book, any politician with that kind of money is guilty of something.

If lurve was dollars, what would you buy right now?

Description : If lurve was dollars, what would you buy right now?

Last Answer : Down payment on a car. Mine’s getting old and I will need to get a new one in the next year.