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> Don't you hate it when people conflate money with credit

Is it any wonder? Any medium-of-exchange immediately becomes credit -- a claim on some unknown-person's future offering of something.

Everything else more-complicated derives from this inherent money-is-a-claim characteristic IMHO.

The medium truly is the claim, aka credit.



Did I just realize that all money in our current form is credit and I never actually own anything? And whom ever controls the biggest source of credit controls the value of the "money" in my pocket at anytime? The only truly valuable thing is experience.


> Did I just realize that all money in our current form is credit and I never actually own anything?

You own whatever you exchange your money for, in the simplest terms. Even if it's a bitcoin or a "financial security" or a share or a chunk of gold, or indeed a pork-belly, an iPad etc. etc.


It is actually the credit aspect I just started to understand. Money represents credit. Just like politics, you can ignore it but you can't escape it.


Try this on for size:

How The Economic Machine Works by Ray Dalio

https://www.youtube.com/watch?v=PHe0bXAIuk0

in particular, see the graph of total domestic debt (i.e. credit) to gdp, and how they have short and long term cycles.




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