this post was submitted on 02 Dec 2024
982 points (98.7% liked)
memes
10673 readers
2392 users here now
Community rules
1. Be civil
No trolling, bigotry or other insulting / annoying behaviour
2. No politics
This is non-politics community. For political memes please go to !politicalmemes@lemmy.world
3. No recent reposts
Check for reposts when posting a meme, you can only repost after 1 month
4. No bots
No bots without the express approval of the mods or the admins
5. No Spam/Ads
No advertisements or spam. This is an instance rule and the only way to live.
Sister communities
- !tenforward@lemmy.world : Star Trek memes, chat and shitposts
- !lemmyshitpost@lemmy.world : Lemmy Shitposts, anything and everything goes.
- !linuxmemes@lemmy.world : Linux themed memes
- !comicstrips@lemmy.world : for those who love comic stories.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Money is literally an "I owe you"
When money was first used, instead of exchanging an apple for an orange, X amount of apples is exchanged for a dollar. The dollar is the buyer saying "I owe you" to the seller.
When the apple seller now use the dollar on something else, that's just selling the "I owe you" in exchange for something else.
Spending money is just selling debt.
(At least that's how money has always worked in my mind. Listen, economy is weird, idk how this shit works, I'm just coming up with my own explanation okay.)
No, you're right! This is exactly why adjusting interest rates by the bank issuing a currency affects how much money is in circulation.