Wait until they find out the interest is also made up
Original-Ad3579 on
The IRS would like to know your location.
EnchantingGirl2 on
I’d laugh, but I can’t afford the luxury tax on humor right now.
helicophell on
Whoa, speculation bad?
Sharon_Youngb680m on
if i just delete my banking app the debt legally can’t hurt me right
Nazzzgul777 on
Jokes aside, yes. On a macroeconimc level, money is debt by definition. Nobody takes a piece of coloured paper because they think it’s worth anything. They take it because there’s the promise somebody will give you something of equal worth in exchange.
In practice that’s nothing else than a letter saying “I owe you 20 bucks, signed.” Just more universal. That’s why hoarding wealth is bad for everybody else. If you have a billion in money, somebody has a billion debt. People have to work to pay that debt off. Money was meant to make trade easy so you can get a bread while working on somebodys house, building them a whole house in exchange for bread is not very practical. It was never meant for people to just sit on it.
TheAviBean on
No it hasn’t always been like this, but it keeps happening.
8 Comments
It works as long as everyone keeps pretending.
Wait until they find out the interest is also made up
The IRS would like to know your location.
I’d laugh, but I can’t afford the luxury tax on humor right now.
Whoa, speculation bad?
if i just delete my banking app the debt legally can’t hurt me right
Jokes aside, yes. On a macroeconimc level, money is debt by definition. Nobody takes a piece of coloured paper because they think it’s worth anything. They take it because there’s the promise somebody will give you something of equal worth in exchange.
In practice that’s nothing else than a letter saying “I owe you 20 bucks, signed.” Just more universal. That’s why hoarding wealth is bad for everybody else. If you have a billion in money, somebody has a billion debt. People have to work to pay that debt off. Money was meant to make trade easy so you can get a bread while working on somebodys house, building them a whole house in exchange for bread is not very practical. It was never meant for people to just sit on it.
No it hasn’t always been like this, but it keeps happening.