@felichsdakatze@mastodon.social
2026-07-24 11:52 UTC
@GeofCox@climatejustice.social
I'm not getting it. If a bank lends me money, that is creation of money. It didn't exist before, but now I have it because they believed I could pay it back, with interest. Paying back the loan, with interest, doesn't destroy anything. It just moves money from my hands back to the bank.
Replies (1)
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@GeofCox@climatejustice.social 2026-07-24 12:36
@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.