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Author Topic: Money as debt or how Bitcoin can have a bright future  (Read 2151 times)
bobitza
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November 02, 2012, 08:26:41 PM
 #21

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?

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November 02, 2012, 10:13:09 PM
 #22

I think this video gave me an impression that all the investments are financed by loans. In reality only part of the projects are financed by loans

Loan and saving do not differ that much, saving corresponds to something that is already produced, and loan corresponds to something that is going to be produced. Since loan is a projection of future production, there is certain risk involved, in a depression, loan is difficult to get since the projection of the profitability in future is low. But there is still investments happening using savings

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