From this video (link below) it became clear that in a closed system, when currency is created as debt with interest due, the currency to pay the interest on the new currency does not yet exist, so it too must be borrowed at interest. This means the interest due is always greater than total currency in existence. Thus the debt plus interest can never be paid in full. Eventually, the interest becomes greater than the economy can support whereupon the issuer claims all outstanding loan collateral. Wash, rinse, repeat. Eventually, in the end, the issuer owns everything. It appears the system is designed to confiscate all wealth.
Comments? Was the author's claim accurate? Can we design a better system? How?
The video can be viewed here: