XeqT Monetary Freedom (∞/21M) + (₿+⚡) = 🧡 on Nostr: Well, currency will always be worth less than the money it's backed by, simply ...
Well, currency will always be worth less than the money it's backed by, simply because it's a claim on the money, not the money itself.
Moreover, currency is commonly issued via lending, which means interest will also be required. If I lend you the first $100 and charge you 5% per year, for 5 years, where will you get the extra $25 in interest to pay me back? You'll need to take out a new loan to pay back the old loan + interest, and so on.
Published at
2025-01-27 11:02:18Event JSON
{
"id": "d33ffd72cc26204d7ce840c34a7a3e09d4ee7b6ae51abe32e613ba7b448792a7",
"pubkey": "8d677a9a4128cf36470527236771b9a983392c0df82eb183db1ef4e987158332",
"created_at": 1737975738,
"kind": 1,
"tags": [
[
"p",
"8d677a9a4128cf36470527236771b9a983392c0df82eb183db1ef4e987158332",
""
],
[
"p",
"15f70ebd30f69b85bba87c3ec45645300dc2835a6dac235fdf8143cab5e9282c",
""
],
[
"p",
"8d677a9a4128cf36470527236771b9a983392c0df82eb183db1ef4e987158332",
""
],
[
"e",
"bbe3ffb0de5a329cb0e78ae51845e3f525591dd02859069e1cbe151322d8bac5",
"",
"reply",
"15f70ebd30f69b85bba87c3ec45645300dc2835a6dac235fdf8143cab5e9282c"
],
[
"e",
"a1b559e648b0a1e8d66fa9549129a9de83e92d55641d5087397b4cd774c56f76",
"",
"root",
"8d677a9a4128cf36470527236771b9a983392c0df82eb183db1ef4e987158332"
]
],
"content": "Well, currency will always be worth less than the money it's backed by, simply because it's a claim on the money, not the money itself.\n\nMoreover, currency is commonly issued via lending, which means interest will also be required. If I lend you the first $100 and charge you 5% per year, for 5 years, where will you get the extra $25 in interest to pay me back? You'll need to take out a new loan to pay back the old loan + interest, and so on.",
"sig": "9b75f2955cbdaea21f7c7b5ef38f0a6566fbaad52c8da217aeec9e6691655a22d21267f4b31323fc23d00e853ba523b1e2a1fab680188727229bcd6c87ba593a"
}
