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A comment on An experimental program in Austria that creates work for the unemployed. Parent comment

Re:An experimental program in Austria that creates work for ... by quickthrower2 on Saturday December 10, 2022 @04:15PM (#33936873)
Your comment assumes that like energy, money cannot be created or destroyed. Which is false. Anyone can create new money by talking a loan from the bank.

However this point also helps your argument: When you borrow you pay interest to someone richer. In a sense a combination of whoever you sent the money to, and the bank.

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Re:An experimental program in Austria that creates work for ... by sin7 on Saturday December 10, 2022 @04:21PM (#33936925)
Can poor people take out a loan and create new money?
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Re:An experimental program in Austria that creates work for ... by loa_in_ on Saturday December 10, 2022 @04:24PM (#33936962)
They don't, and in times where there's most need for that, banks squeeze their wallet close even tighter.
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Re:An experimental program in Austria that creates work for ... by quickthrower2 on Saturday December 10, 2022 @05:04PM (#33937369)
My understanding is any loan from a bank creates new money. However not sure about the types of loans that poor people use such as payday loans and pay-in-4 services. Maybe that us too since an investor may use bank borrowed money to fund them?
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