No debt can be fully repaid as long as monetarism will last.
Monetarism is the system where a private entity issues public currency as a debt. If all this debt would be paid back, the monetarist money would be fased out the economy, leaving it without any currency, nor cash nor electronic. And there would be no other money to pay the interest because the currency quantity for interest coverage has never been created. This is the design of the current money system. It is called monetarism, is the actual money system of the West and is mathematically impossible to sustain.
The system itself cannot survive the very numbers is generating.
Thus the problem is the system.
By design this system is crushing the physical economy just like a tumor is killing a living body. The economy is collapsing and is taking the monetarism with it. Just like a tumor killing it’s victim: victim dead, cancer dead.
The alternative is sovereign currency. The state (as opposed to a private entity) has the monopoly of issuing the base currency. The base currency is then multiplied by the commercial banks under strict rules. In addition to the base money, the state owned central bank issues currency to cover for the interest incurred by the commercial loans. The two crucial conditions:
* all money mass MUST have coverage in the physical assets of the economy of the nation.
* Fixed-Exchange-Rates: all national currencies MUST be bound by a worldwide foreign currency exchange agreement in order to block speculation.
In this case the money is not a debt to a private entity, but a CREDIT from the true national bank (100% owned by the nation) to the physical economy of the nation. By law the central government component of the state will be forbidden to be loaded with debt, it will only have credit. The amount of interest (accrued nation wide) will be compensated by fiat money to be created by the national central bank and disposed to the state to finance itself. Thus all the debt will be covered by the available liquidity. The debt will stop growing faster than the money supply. The money circuit will be balanced, stable and sustainable. This system will allow for taxes to be lowered without deficit while providing the government with enough funds for increasing spending.
We need to replace the monetarism with a system of national credit also known as sovereign currency.
Do your own research: “Secret of Oz”, “Money as Debt”, etc.