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The debt is backed by real assets not represented in dollars. Those aren't just inherently valuable like gold, but the engines to create more value. There also
by ivankirigin 14y ago
The debt is backed by real assets not represented in dollars. Those aren't just inherently valuable like gold, but the engines to create more value.
There also isn't a fixed pie. A software company can turn $1M in salaries into $10M in revenue. This isn't new debt, but new wealth.
- eli_gottlieb 14y agoWealth can be created by anyone. Money can only be created by an authority figure, a Royal Mint or Central Bank.