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throwawayacc0430@sh.itjust.works ⁨22⁩ ⁨hours⁩ ago

>Town of 100 people
>Everyone has $50
>Everyone stores Money In Town Bank
>Total bank balance of everyone: $5000
>Bank lends $1000 to a farmer to buy new equipment
>Merchant who sold the equipment deposits $1000 into bank.
>There is now $6000 total deposited in the bank
>1000 just came out of thin air
Money is fake and gay

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ggtdbz@lemmy.dbzer0.com ⁨18⁩ ⁨hours⁩ ago
I remember this classic philosophical quandary of our time, but in a different form.

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Classic.

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Clent@lemmy.dbzer0.com ⁨18⁩ ⁨hours⁩ ago
Future economists are going to make so much fun of us for thinking $1000 was created here.

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pm_me_your_thoughts@lemmy.world ⁨19⁩ ⁨hours⁩ ago
debt: am I am joke to you?

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- throwawayacc0430@sh.itjust.works ⁨9⁩ ⁨hours⁩ ago
  Balance:
  
  Each of 98 Townspeople: $50
  
  The Merchant: $1050
  
  The Farmer: -$950
  
  So, the 98 towns people and the merchant all wants to withdraw.
  
  ???
  
  Now you have a riot outside of a bank.
  
  Congrats, you destroyed a Town with #Banking 🫠
  
  Or alternatively.
  
  The Banker just gaslight the town to mob-lynch the Farmer the good ol’ capitalism way.
  
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- SkyezOpen@lemmy.world ⁨19⁩ ⁨hours⁩ ago
  Rich people never pay off debt.
  
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