@GeofCox@climatejustice.social
2026-07-24 12:36 UTC
@felichsdakatze@mastodon.social
Where the bank balances out your loan account to zero, rules a line under it, and Hey Presto ! - the money is gone.
Replies (1)
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@felichsdakatze@mastodon.social 2026-07-24 13:08
@GeofCox@climatejustice.social yes, your loan goes to zero, but the bank got their money. And arguably you got some asset too. The money didn't dissappear. It was created through the lending.