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TOPIC: paid in capital accounts debt virus redux

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#7765

Bill Ryan (Visitor)

paid in capital accounts debt virus redux
Bill RyanFalse assumption. Question - The quote by Douglas indicates that he believed that banks create money. How is that money created if not as a debt?<<<

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#7766

Bill Ryan (Visitor)

paid in capital accounts debt virus redux
If nothing in the future exists today it follows that the interest I have to pay in the future does not exist today.<<< Not necessarily. It may or it may not exist today.

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#7767

Bill Ryan (Visitor)

paid in capital accounts debt virus redux
I think the last sentence holds part of the answer here, Ekk. At least the last three words, and is spent. That's if this interest IS spent, either to pay for the costs of banking, as some of it most certainly is. Or distributed to the bank's shareholders as dividends. As some of it may be. <<< True of any profit received by any firm. There's nothing about interest that makes it different.

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