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[-] Tommelot@lemmy.world 2 points 2 hours ago

That's not how any of it works though.

[-] exasperation@lemmy.dbzer0.com 2 points 2 hours ago

It's how all of it works. Money is just balances on double-entry bookkeeping, and the paper currency essentially is a piece of paper that the bearer of that paper is good for moving the balances in that ledger system.

And almost all of those ledgers are now digital.

[-] Tommelot@lemmy.world 1 points 17 minutes ago

By that logic any bank could grow arbitrarily large by just underwriting more loans. Then there'd be no competition between any of them and my job would be so much easier.

this post was submitted on 12 Aug 2026
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