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I don't agree with your description of money creation as a primary means of creating value. Surely value is created by human endeavour and currency is just a convenient means of tracking that?

If there was a bank that just continually created new money and gave debt to everyone, then do you believe that they are creating value and presumably a society could exist purely from the value created by these numbers?




I don't agree with it either but it is the model employed by banks today. Money is literally backed by nothing but debt.


You misunderstand me. Money is indeed created by banks creating debt, but money is not the same thing as value. It's used as a convenient way to exchange value, but if you were stuck on a island with no-one else, you wouldn't find money to be of any use.




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