If it comes from savings, yes. In that case, you are performing a service to the borrower by agreeing to defer your right to consume. Money is just information. The real loan is your claim on a certain amount of stuff. On the other hand, if you're a central bank and the "money" you "lend" is simply conjured into existence, then no, you are not providing a service. You are in effect counterfeiting. The "borrower" certainly receives value, specifically the ability to make an immediate claim on goods and services in the real world. But where did that value come from? Not from the bank deferring consumption it had earned as a consequence of its production. Instead, it came from (was stolen from) every other person who was holding the currency. But we're not the ones that collect the interest on that "loan," are we? And if we bought ourselves a fancy printer and tried to get in on the fun, they'd put us in jail, wouldn't they? Frankly when you think about it, the whole thing seems kind of, well, messed up, doesn't it?
It does. As per the videos ... if we print the money we go to jail. If they print the money it's called business. Wtf?
