this post was submitted on 02 Dec 2024
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A totally normal thing (lemmy.world)
submitted 2 months ago by The_Picard_Maneuver to c/memes
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[–] [email protected] 84 points 2 months ago (20 children)

What it actually is:

We've given big, privately owned banks the right to create money out of thin air.
They lend it to you for a while, if you can prove that there's no risk involved.
You still have to pay them back a lot more than you got.
Once you've given the money back, it disappears.
The banks keep the interest, though. And can use it to create 10x more money out of thin air.

[–] RubberElectrons 4 points 2 months ago (2 children)

Yep. Just don't borrow it, fuck em.

[–] [email protected] 13 points 2 months ago

Unless you're really rich, you have the choice between borrowing money from the bank, and paying rent to a landlord for your entire life.
Unless you're moderately rich, you don't even have that choice.

[–] _stranger_ 3 points 2 months ago

If people could buy housing without needing to borrow money, the world would be a much better place.

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