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Ahem, money == interest-bearing debt created in a computer by private, non-democratic institutions for maximum profit, in case someone missed that little glitch
by ciscoheat 11y ago
Ahem, money == interest-bearing debt created in a computer by private, non-democratic institutions for maximum profit, in case someone missed that little glitch in the system.
- pierotofy 11y agoThat would be currency, not money.
- ZenoArrow 11y agoI've heard people making this distinction before, but can't say I understand the difference, can you explain it to me?
- ciscoheat 11y agoAs I said, banks are creating money, digital debt credits, in their computers. That money is largely regarded as equal to currency in the prevailing global financial system, since everyone uses the banks transaction system (SWIFT, Visa, etc) and trusts the value of the debt credits. The real currency are the notes and coins, the "legal tender" printed by the government, which comprises less than 3% of the money supply.
- ciscoheat 11y agoI used the equality operator, not identity. I explained below, please inform yourself.