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> Did I just realize that all money in our current form is credit and I never actually own anything? You own whatever you exchange your money for, in the simpl
by dualogy 13y ago
> Did I just realize that all money in our current form is credit and I never actually own anything?
You own whatever you exchange your money for, in the simplest terms. Even if it's a bitcoin or a "financial security" or a share or a chunk of gold, or indeed a pork-belly, an iPad etc. etc.
- sitkack 13y agoIt is actually the credit aspect I just started to understand. Money represents credit. Just like politics, you can ignore it but you can't escape it.
- penguindev 13y agoTry this on for size: How The Economic Machine Works by Ray Dalio https://www.youtube.com/watch?v=PHe0bXAIuk0 https://www.youtube.com/watch?v=PHe0bXAIuk0 in particular, see the graph of total domestic debt (i.e. credit) to gdp, and how they have short and long term cycles.