Re:The KLF: Chaos, magic and the band who burned £1M
by matheusmoreira on Saturday February 04, 2023 @03:01PM
(#34657620)
I don't agree with it either but it is the model employed by banks today. Money is literally backed by nothing but debt.
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Re:The KLF: Chaos, magic and the band who burned £1M
by ndsipa_pomu on Sunday February 05, 2023 @04:13AM
(#34663250)
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.