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RE: Vlog 194: Where does the money come from? Crypto currencies vs. Fiat currencies.
The fact that everybody thinks that a society based on debt is normal is the main reason why the average Joe thinks it’s a scam when speaking about cryptocurrencies. Nobody yet understand the crypto revolution because they don’t understand how fiat money work in the first place.
It's not that debt is normal or abnormal. Debt is a way of creating more liquidity on the market. Debt is ancient. The curious thing is the huge amount of debt that exists nowadays. Of course it's unsustainable and is back by promise of governments. It's money that doesn't really exist. It's sort of like margin trading. Banks lend money they don't really have and are allowed to do so to an unbelievable extent. And this reduces the value of the money we have.