6 ms·
that‘s a nice theory. what actually happens is, when you borrow money, they put the numbers into your account and the negative on their balance sheet. that‘s t
by 345218435 7y ago
that‘s a nice theory.
what actually happens is, when you borrow money, they put the numbers into your account and the negative on their balance sheet. that‘s the basic process of money-creation in a fiat system. out of thin air. debt-based on top so that nobody ever gets away.
but yeah, everybody likes to believe that the amount of money in the system represents goods and services.