Google’s Fully Homomorphic Encryption Compiler

Re:Google’s Fully Homomorphic Encryption Compiler – A Primer by CraigJPerry on Tuesday February 14, 2023 @08:41AM (#34789083)

>> what makes a bank a bank is that it will loan out money deposited by other people

No, a bank creates money to loan out from nothing. No deposits required.

As a sibling comment points out, other jurisdictions exist so here's the UK central bank's explainer on the topic: https://www.bankofengland.co.uk/explainers/how-is-money-crea...

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Re:Google’s Fully Homomorphic Encryption Compiler – A Primer by fatneckbeard on Wednesday February 15, 2023 @09:53PM (#34814389)

but once the bank has made the loans, it has to keep track of how many it has made and how many are delinquent. i could be missing something.

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Re:Google’s Fully Homomorphic Encryption Compiler – A Primer by CraigJPerry on Thursday February 16, 2023 @07:54AM (#34818042)

Yeah of course, but that's not the point the parent was contesting. They claimed a bank loans from funds deposited which isn't the case.

If a bank chooses to create an asset (your liability) by loaning money to you, if you then fail to repay, then they're in a bad spot. They're certainly not allowed to just delete the records of the loan being issued to get rid of the delinquent asset on their balance sheet.

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