mikedilger on Nostr: Just assume it's all done in US dollars. And that the amounts are the same. And every ...

Just assume it's all done in US dollars. And that the amounts are the same. And every other need is supplied locally. Then you'll see that the dollars are just going round and round in circles, and there is no limit to this, and that nothing ever needs to be paid back to anybody, even though the dollars never wink out of existance and are seen as debt instruments.

I like to look at the physical economy because when people look at currencies they confuse themselves.