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Dollars -- whether created by the Fed or fractional reserve banking -- are debt with interest due. Coinage is the exception but it is very small quantity-wise.
by KWxIUElW8Xt0tD9 3y ago
Dollars -- whether created by the Fed or fractional reserve banking -- are debt with interest due. Coinage is the exception but it is very small quantity-wise.
- JumpCrisscross 3y ago> Dollars -- whether created by the Fed or fractional reserve banking -- are debt with interest due This is not correct. Loans create money. So the creation of money involves the creation of the loan. But if the loan is poofed, the currency doesn’t go away. (Think: loan to buy a house makes money, seller gets the money, buyer defaults, loan is impaired.)