> single point of failure on something that by itself generates no value in real terms. It does generate value by increasing our leverage, that is it. This was

> single point of failure on something that by itself generates no value in real terms. It does generate value by increasing our leverage, that is it. This was my point of "no real value". The only value is to advance the future into the present, at the cost of interest. This value is also the critical part making the system brittle, we advance the future far enough until the pressure on the system is too large and then a single spark lights the whole pile on fire. We have a "market correction", meaning: human suffering in humongous scale because some people were too greedy and wanted the future now instead of being able to wait a few years. And worse, the existence of this system forces everyone who is not wholly accepting it into a disadvantaged position because your competitor is going to take advantage of cheap credit if you try to be cautious, so there is no incentive to not play the game, at all.