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by Kinnard 3948 days ago
This is all the more frustrating—no, enraging, when you learn how banks create money.
1 comments

Underrated comment. I was just listening to a bitcoin podcast with the Bank to the Future author discussing this. Bit one sided, but really interesting essentially he posits that capitalism is somewhat problematic but still a great way to organize actors in a market, however the ability for banks to create money and the false assumption that they are intermediaries has lead to the problems we're in now.