enerG on Nostr: OK I'll bite... Agreed, retail banks create money out of thin air and lend it to us ...
OK I'll bite...
Agreed, retail banks create money out of thin air and lend it to us to buy our houses and our cars.
But central banks definitely also create money out of thin air, the biggest difference being that they lend it to their governments rather than to the public.
Also agree that loans & investment are important for development, but please explain why inflation is necessary? Sounds like Keynesian propaganda to me.
Real education is important, not the shit they teach in fiat schools. That video is spot on.
Agreed, retail banks create money out of thin air and lend it to us to buy our houses and our cars.
But central banks definitely also create money out of thin air, the biggest difference being that they lend it to their governments rather than to the public.
Also agree that loans & investment are important for development, but please explain why inflation is necessary? Sounds like Keynesian propaganda to me.
Real education is important, not the shit they teach in fiat schools. That video is spot on.