Of course, that is the unedited draft - which was probably not meant to be released.. because they have an edited version that supposedly says something that we are all going to understand.
Whether he edits it down to a shorter period or leaves the long struggling version will likely NOT help our understanding and/or inspire our confidence, will it?
He seems to recognize and appreciate that the Banks have been creating too much money.. so I suppose that the punchline that you are getting at Guachapin, is that he is admitting that there is a creation that it is not really based on anything - even though they are accounting for it... by putting a liability on their ledger to show that they printed money, and someone who received the money is supposed to pay them back.
Let's say that you and I go out to eat a steak dinner, and it cost around $240.. and maybe there is some other stuff in there too... and then I tell you that I forgot my wallet, but I don't mind paying you back over then next 12 months.... if you don't mind picking up the tab... So my portion is $120, so I agree that I will pay you back at a rate of $10 per month, and I am going to add $1 for the interest... so after 12 months, you will end up receiving all of the principle. .plus an additional $12... You will receive $132, and you are willing to agree to those payment terms. Between you and I, we have created $120.. and I suppose that as I pay it back, then we have resolved that creation, unless maybe I tell you that I am going to balloon pay the loan at the end of 12 months, rather than pay you on a monthly basis, so at the end of 12 months, I am going to owe you $132.. that is ($120 principle plus $12 interest)... If I don't pay you back at the end of 12 months, and I ask you if you are willing to lend me $132 for another 12 months on the same terms, which would mean that after another 12 months, then I would owe you $145.20.. which would represent the principle of $132 plus the $13.2 of interest. Then we will not have had resolved that debt matter, but if you know that I am good for it, you might still be willing to roll over my debt... and so our money creation would end up lasting 2 years.. . and if we resolve it the next year, then I suppose at that point, all is good... but we have governments that are not able to pay their debts, but since they are the ones who create the money, they just keep rolling it over, and it gets to the point that they are not even able to pay the interest on the debt.
https://www.youtube.com/watch?v=gg-7y-eYSP4
tbh this forum is pretty pathetic that it can not handle more than 2.5mb pictures it is 2022 soon 2023 and yet it is still in 2008 ....
Its like : Oh no OH no we cant handle 1080p yet alone 2160p ... oh noo
This forum does not seem to be so pathetic as to stop you from posting images....
However, you seem to be so pathetic as to be remaining a no coiner who is hanging out with coiners.
Have you improved upon your actual patheticness status, rather than complaining about things that are NOT actually a problem?
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