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We need a word that is not intentionally a fraud but is pretty much an example of an unsustainable pyramid.
by kiba 4y ago
We need a word that is not intentionally a fraud but is pretty much an example of an unsustainable pyramid.
- orangepurple 4y agoFractional reserve banking
- adgjlsfhk1 4y agoNot a ponzi scheme. It doesn't rely on growth to survive.
- orangepurple 4y agoYou are right. However, over time systemic risks grow with it. Your point still stands.
- Ekaros 4y agoIt kinda does. Fractional reserve system means there is more debt that there is money. And if interest rates are not below zero. There will be always more debt until someone defaults. Actually even full reserve with debts would mean there is more debt than there is money...
- outsidetheparty 4y ago"Capitalism" (in its modern, dependent-on-continuous-growth interpretation)
- peteradio 4y agoHouse of cards.