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meta-david 💥| Building Scoop3
@metadavid
You deposit $100 at a bank. The bank lends $90 of that to someone else. Even though you have a deposit of $100, there's another person who received $90, so there's a total of $190 circulating in this micro-economy. That's how banks print money. But most people don't realize that. 💯
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Tay Zonday
@tayzonday
This is true. Fractional reserve banking is mathematical sacrilege that historically followed the Federal Reserve on the timeline of “Use government to make Adam Smith’s capitalism, which tends toward equilibrium, an Neo-Feudalist oligopolist circus unaccountable to reality.”
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