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They're the only participants who are allowed to loan out an unlimited amount of money I'm not talking about loaning. I'm talking about "A and B agree that
by TekMol 4y ago
They're the only participants who are allowed
to loan out an unlimited amount of money
I'm not talking about loaning. I'm talking about "A and B agree that A owes B $100".
- whatshisface 4y agoThat's not money creation because neither A or B can take anything about that to a checkout counter. :-)
- JumpCrisscross 4y ago> neither A or B can take anything about that to a checkout counter Of course they can. "Can I get a beer, I'll settle up next week, A owes me."
- keeganpoppen 4y agogood luck using that one next time you're at the bar...
- JumpCrisscross 4y ago> good luck using that one next time you're at the bar I have? Card didn’t run at a bar I’m a regular at. So they said I could settle up later. Bar tabs are an old form of credit.
- TekMol 4y agoYet B has to pay taxes for it. The government will say "Oh, there is $100 more on your books! You have to pay us $25.". If that $100 in the books is not money, what is it?
- whatshisface 4y agoIt is something taxable on the books.