I feel like you have the quote backwards
and also need to update the amounts
Because its still a very relevant and not old joke that is told with updated amounts
The quote is the right way around: if you owe a million dollars ($1M) and can't pay, they'll foreclose your house and other assets and recover some of their money - it's entirely your problem.
If you owe a billion dollars ($1G) and can't pay it back, then the bank will work with you to try to get the investment back on its feet, as they will certainly not be able to recover any significant amount of it forcefully. It becomes their problem.
Re:UST Stablecoin Loses Dollar Peg
by skinnymuch on Tuesday May 10, 2022 @11:04AM
(#31327968)
They may have thought G meant thousand. That’s not what I thought but it’s the only number that I could think of. Didn’t think it could mean a billion.
G is the SI prefix for "Giga", meaning 10^9. So, 1Gm is the SI representation of "1 giga meter = 1 billion meters", for example. It's most commonly used in computing, e.g. in 1GHz = 1 billion Hertz. You may have also seen it in power output numbers, such as saying that some power plant produces 1GWh annually (1 giga watt-hours = 1 billion watt-hours).
Of course, in computing G is also sometimes used to mean 2^30. The ISO has allocated the prefixes Ki/Mi/Gi (Kibi, Mebi, Gibi) for that use, so technically my machine has 16 GiB or RAM, which is slightly more than 16GB of RAM would be.
Re:UST Stablecoin Loses Dollar Peg
by pcthrowaway on Wednesday May 11, 2022 @02:12AM
(#31336375)
Sure, but when people talk about money, a G is usually a thousand (not talking about financial terms, just common usage)
aka "I just lost 3 G's on UST"
The US has a culture that likes to blame working folks when they screw up and to some extent it's good for everyone to have a culture of individual agency - you want people to feel that they have control over their fates and work toward better themselves and their families.
But if you twist your society sufficiently that enough average folks sink under the barrage of predatory kleptocratic institutional behavior, then it's no longer just their problem. You might find yourself no longer living in an "advanced mixed economy/democracy" but rather something much less fun.