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by Cthulhu_
1994 days ago
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That's the basic economic theory I grew up with as well, and it explains why both savings account and mortgage interest rates are so low. But then you look deeper, and it turns out that the banks can spend and play with your money ten times over. They can earn money off of your debts as well, packaging thousands of mortgages into a neat package and playing with it on the stock market. I have no clue how it all works, but basically 90% if not more of all money is virtual play money for the financial institutions. Crypto is 100% play money. |
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