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by andrepd 1186 days ago
> when someone takes out a loan, a bank doesn't lend out depositors' money. Instead money is "created" by the bank (on behalf of the fed), and the bank needs to pay the fed interest. The bank also needs to pay the loan back by an agreed uppn time (which destroys the money).

Why can't I do that with the central bank directly? Why the rent-seeking middleman?