this post was submitted on 23 Dec 2023
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Rent is Robbery (lemmy.ml)
submitted 1 year ago by [email protected] to c/[email protected]
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[–] [email protected] 0 points 1 year ago (1 children)

I'm interested in how you're so confidently incorrect about a very basic fact about how capitalism works.

[–] [email protected] 1 points 1 year ago (2 children)

Hey, I simply said what I thought and expressed interest in what you thought. Not everyone here is trying to attack you.

[–] [email protected] 1 points 1 year ago* (last edited 1 year ago)

If I misread the tone of your message, my bad.

[–] [email protected] 0 points 1 year ago

How is money created? Some is created by the state, but usually in a financial emergency. For instance, the crash gave rise to quantitative easing – money pumped directly into the economy by the government. The vast majority of money (97%) comes into being when a commercial bank extends a loan.

https://www.forbes.com/sites/francescoppola/2017/10/31/how-bank-lending-really-creates-money-and-why-the-magic-money-tree-is-not-cost-free/?sh=18b9b3073073