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What Money Is and What’s Wrong with It

https://hackernoon.com/what-money-is-and-whats-wrong-with-it-8bca0e20a333

by isabelc • 8 years ago

2 1 8 years ago

HA

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neilwilson• 8 years ago

So wrong it's difficult to know where to start.

Just one fault as an example. A debt is denominated in, say, dollars. Interest, however, is denominated in dollars per month.

Conflating the two is like confusing miles with miles per hour.

It's a classic stock/flow mismatch.

Interest, in reality, is the wages of bankers. Just as profit is the wages of capitalists. And like all wages and pensions they are spent to allow people to exist. Bankers and capitalists are human too!

The rest is the same 'watchtower' style curve fitting to a belief.

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