Imagine two primitive societies - that of the Workers and that of the Enjoyers - both with a closed economy. Both societies are self-sufficient, and the people in both work roughly equally hard.

Suddenly, the Workers decide to work more. The surplus of what the Workers now produce extra is sold to the Enjoyers, who pay for it with their own 'Enjoy-coin'. From this moment on, the Enjoyers consume more than they produce themselves.

The Workers are not foolish. They use the steadily growing mountain of 'Enjoy-coins' to buy debt (bonds) from the Enjoyers - and also land.

Over time - this could well be a generation later - the Enjoyers have accumulated a large debt to the Workers. Moreover, the Workers have meanwhile become the owners of the land. The Enjoyers now not only have to pay interest to the Workers, but also rent to be allowed to cultivate 'their' land.

The common solution to the high obligations of the Enjoyers would be to print money in order to increase inflation. But this makes little sense: after all, the Workers are also the owners of the Enjoyers' land.

Without any war taking place, the land of the Enjoyers has come into the hands of the Workers. Future generations of the Enjoyers will have to work hard to pay interest and repay debts. And that will not be easy, since the land is also owned by the Workers. What applies to an individual also applies to a country: when structurally more is consumed than produced, impoverishment is ultimately the consequence...
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