![new thumbnail.png](https://images.hive.blog/DQmNZrfmbJPJMfiuzQ5T87zGuuSkR1TGtnhaV3GZb8dgQiw/new%20thumbnail.png) Did you know that money isn't real anymore? In the good old days, gold and silver were used as money, but soon it was too burdensome to carry large amounts of gold and silver coins around. ![meme2.jpeg](https://images.hive.blog/DQmUjfiUovcSEVWjLZ2pFePZ4y1mtAPcvkciqwRWS2nscnW/meme2.jpeg) The U.S. Federal Reserve began to exchange banknotes for precious metal coins. So for a $10 coin, a $10 banknote that could be converted back to gold coins was traded, and the gold was held in the bank vault. At some point, banks petitioned the government to allow fractional banking. Fractional banking allowed banks to pass out 100 dollars of notes for every $10 coin they held in their vaults. But wait: why (and how) would a bank ever give out more money than they take in? By offering interest-bearing loans, of course! [This is the exact moment that money ceased to be real]. So what's the problem, obviously, now more people could buy things with the borrowed money, which would stimulate the economy and that's good. Let's pretend we are still back at that first fractional bank with one person's $10 gold coin in their vault. One person has a $10 reserve note that they exchanged for the coin, and nine other people have $10 reserve notes that they borrowed from the bank. Let's allow a year to pass. So now the nine people all owe 11 dollars (10 + 1 interest) [as a side note, you can see why banking is such a great business since they just made a 9-dollar return from someone else's original 10 dollars]. And they all have been outstanding citizens, and they didn't waste the $10, and they want to go and pay the loan off. But where will they get the extra dollar each? They would have to borrow it from the guy who had the $10 coin since he has the only other $10 in circulation. Of course, he will want to charge interest. So if he lends the 9 dollars and the nine people all pay off the fractional bank, they still owe him the principle and interest on the loans they took to pay their interest. How can this interest ever be repaid? The bottom line is that it can't. ![meme1.jpg](https://images.hive.blog/DQmXTexFF3crpyj8c6MLDyczzyvBypR8D2vX61wACLA5nu2/meme1.jpg) So we have a monetary system where all the participants can't be debt-free. The current system is just like this, only taking away the $10 backed by gold. The bottom line is that the current monetary policy depends on ever-expanding debt. There are many results of this system: inflation and polarization of the distribution of wealth. --- Thank you for reading and hope you have a good rest of the day! Follow me on these other platforms where I also post my content: [Publish0x](https://www.publish0x.com/@aftershock9?a=Vyb82ANmev) || [Hive](https://hive.blog/@mercurial9) ||[Read.Cash](https://read.cash/@merurial9) || [Noise.Cash](https://noise.cash/u/mercurial9) || [Twitter](https://twitter.com/minimalistpixel) || [Torum](https://www.torum.com/u/mercurial9) Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@mercurial9/why-it-s-impossible-to-get-out-of-debt)
author | mercurial9 |
---|---|
permlink | why-it-s-impossible-to-get-out-of-debt |
category | hive-167922 |
json_metadata | {"app":"leofinance/0.2","format":"markdown","tags":["money","personalfinance","cryptofinance","leofinance","ctp","palnet","neoxian","proofofbrain"],"canonical_url":"https://leofinance.io/@mercurial9/why-it-s-impossible-to-get-out-of-debt","links":["https://www.publish0x.com/@aftershock9?a=Vyb82ANmev","https://hive.blog/@mercurial9","https://read.cash/@merurial9","https://noise.cash/u/mercurial9","https://twitter.com/minimalistpixel","https://www.torum.com/u/mercurial9"],"image":["https://images.hive.blog/DQmNZrfmbJPJMfiuzQ5T87zGuuSkR1TGtnhaV3GZb8dgQiw/new%20thumbnail.png","https://images.hive.blog/DQmUjfiUovcSEVWjLZ2pFePZ4y1mtAPcvkciqwRWS2nscnW/meme2.jpeg","https://images.hive.blog/DQmXTexFF3crpyj8c6MLDyczzyvBypR8D2vX61wACLA5nu2/meme1.jpg"]} |
created | 2022-06-06 09:28:21 |
last_update | 2022-06-06 09:28:21 |
depth | 0 |
children | 5 |
last_payout | 2022-06-13 09:28:21 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 2.306 HBD |
curator_payout_value | 2.276 HBD |
pending_payout_value | 0.000 HBD |
promoted | 0.000 HBD |
body_length | 3,174 |
author_reputation | 189,439,572,413,119 |
root_title | "Why It's Impossible To Get Out Of Debt" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 113,822,979 |
net_rshares | 7,305,168,851,544 |
author_curate_reward | "" |
voter | weight | wgt% | rshares | pct | time |
---|---|---|---|---|---|
onealfa | 0 | 4,903,476,475,508 | 88.8% | ||
leprechaun | 0 | 1,422,727,086 | 50% | ||
rxhector | 0 | 8,376,192,468 | 31.08% | ||
dwinblood | 0 | 1,642,027,619 | 33.3% | ||
arcange | 0 | 744,510,822,109 | 5% | ||
raphaelle | 0 | 6,240,349,717 | 5% | ||
velourex | 0 | 510,717,564 | 11.32% | ||
richardcrill | 0 | 2,467,403,020 | 1.15% | ||
ancolie | 0 | 570,188,199 | 0.52% | ||
walterjay | 0 | 9,082,750,142 | 0.75% | ||
steemitboard | 0 | 37,613,539,988 | 5% | ||
lizanomadsoul | 0 | 2,053,795,894 | 3% | ||
newsflash | 0 | 349,585,063,315 | 0.56% | ||
rival | 0 | 4,672,448,298 | 49.72% | ||
coffeelovers | 0 | 816,918,834 | 5% | ||
allcapsonezero | 0 | 2,577,019,661 | 5.66% | ||
felt.buzz | 0 | 7,129,042,703 | 0.75% | ||
shebe | 0 | 2,135,157,524 | 25% | ||
nikoleondas | 0 | 11,749,969,987 | 49.72% | ||
jasonbu | 0 | 1,580,846,616 | 2.5% | ||
costanza | 0 | 198,503,245,126 | 40% | ||
votehero | 0 | 239,574,982,068 | 56.1% | ||
dudeontheweb | 0 | 3,042,685,680 | 6% | ||
manncpt | 0 | 3,248,218,534 | 3% | ||
snlbaskurt | 0 | 7,816,465,191 | 100% | ||
jnmarteau | 0 | 695,061,271 | 3% | ||
shaidon | 0 | 5,513,398,207 | 10% | ||
sportfrei | 0 | 5,774,890,082 | 20% | ||
orlandumike | 0 | 15,975,897,885 | 20% | ||
fireguardian | 0 | 635,445,559 | 5% | ||
oadissin | 0 | 799,941,942 | 5% | ||
jersteemit | 0 | 1,204,268,445 | 62.16% | ||
steemexperience | 0 | 1,568,910,355 | 1.15% | ||
globalschool | 0 | 1,544,205,544 | 1.5% | ||
bafi | 0 | 514,799,405 | 10% | ||
myfreebtc | 0 | 21,304,496,135 | 25% | ||
ikibaru-san | 0 | 2,023,788,195 | 100% | ||
pardinus | 0 | 20,075,863,736 | 10% | ||
pedrocanella | 0 | 521,946,610 | 10% | ||
pboulet | 0 | 2,229,787,269 | 1.2% | ||
minnowshares | 0 | 20,211,527,363 | 100% | ||
upvoteshares | 0 | 169,323,708,942 | 42% | ||
dosh | 0 | 1,087,290,238 | 10% | ||
besheda | 0 | 888,229,796 | 25% | ||
sanjeev021 | 0 | 9,530,486,326 | 5% | ||
malihasrk | 0 | 596,342,313 | 44.4% | ||
marianaemilia | 0 | 73,153,611,215 | 10% | ||
shainemata | 0 | 2,504,568,509 | 2.5% | ||
a1004 | 0 | 1,348,880,183 | 100% | ||
ninjacyber | 0 | 10,735,399,907 | 30% | ||
rollingbones | 0 | 0 | 1.65% | ||
sm-silva | 0 | 11,567,461,779 | 100% | ||
bastter | 0 | 635,406,041 | 10% | ||
tinyhousecryptos | 0 | 498,867,889 | 5% | ||
ctrpch | 0 | 1,059,620,386 | 10% | ||
erectus | 0 | 521,203,281 | 80% | ||
ph1102.leo | 0 | 670,394,832 | 100% | ||
libertygame27 | 0 | 1,314,771,304 | 100% | ||
splinterzine | 0 | 612,624,178 | 10% | ||
joemark | 0 | 1,277,983,233 | 62.16% | ||
moonappics | 0 | 1,030,202,928 | 62.16% | ||
achim03.leo | 0 | 2,038,759,124 | 100% | ||
fengchao | 0 | 67,726,776,243 | 5% | ||
hivebuzz | 0 | 10,781,253,821 | 3% | ||
laruche | 0 | 56,820,281,646 | 1.5% | ||
ykretz | 0 | 2,300,640,002 | 5% | ||
goldmonsters | 0 | 3,098,472,662 | 50% | ||
alther | 0 | 1,233,008,785 | 100% | ||
schmidi | 0 | 1,037,460,298 | 1.5% | ||
mercurial9 | 0 | 39,406,440,664 | 100% | ||
bong1011 | 0 | 922,513,952 | 5% | ||
uyobong.venture | 0 | 1,886,786,929 | 86% | ||
thegcc | 0 | 3,682,661,865 | 100% | ||
nateaguila-spt | 0 | 3,415,247,093 | 100% | ||
gonklavez9 | 0 | 1,810,138,049 | 100% | ||
patientgamer9 | 0 | 731,397,905 | 100% | ||
spt.hivevoter | 0 | 629,588,171 | 40% | ||
scooter77.spt | 0 | 941,587,075 | 80% | ||
tehox | 0 | 8,477,630,290 | 100% | ||
ctpsb.leo | 0 | 707,682,836 | 100% | ||
carlosro | 0 | 1,293,275,705 | 10% | ||
brucolac | 0 | 1,400,806,842 | 6% | ||
brando28 | 0 | 624,478,579 | 5% | ||
bobthebuilder2 | 0 | 646,376,424 | 8.5% | ||
giemo | 0 | 525,451,913 | 10% | ||
liotes.leo | 0 | 664,173,681 | 100% | ||
proofofbrainio | 0 | 2,296,163,967 | 1.65% | ||
curatingunicorn | 0 | 7,185,860,677 | 70% | ||
vanidike | 0 | 1,263,030,501 | 100% | ||
interpretation | 0 | 1,015,870,412 | 10% | ||
holovision.cash | 0 | 13,775,437,196 | 100% | ||
jdike | 0 | 4,432,146,606 | 100% | ||
onealfa.pob | 0 | 466,615,692 | 11.32% | ||
joseph23 | 0 | 7,111,028,735 | 88.8% | ||
readthisplease | 0 | 13,971,952,508 | 15% | ||
dibblers.dabs | 0 | 15,067,116,243 | 15.09% | ||
flamistan | 0 | 1,044,203,698 | 44.4% | ||
gimme-your-coinz | 0 | 1,829,078,175 | 26.64% | ||
take-my-coinz | 0 | 531,717,958 | 44.4% | ||
chincoculbert | 0 | 3,268,570,904 | 37.29% | ||
vitoragnelli | 0 | 721,202,244 | 100% | ||
adulruna | 0 | 513,211,081 | 5% | ||
lordemmy | 0 | 575,000,429 | 80% | ||
iskafan | 0 | 5,349,678,230 | 20% | ||
cryptothesis | 0 | 28,904,650,600 | 100% | ||
motorseb | 0 | 12,787,243,684 | 100% | ||
firstborn.pob | 0 | 973,545,196 | 44.4% | ||
underlock | 0 | 1,147,070,064 | 7% | ||
waivio.welcome | 0 | 540,560,987 | 1.09% | ||
trostparadox.vyb | 0 | 1,052,220,696 | 44.4% | ||
vyb.pob | 0 | 2,090,292,593 | 44.4% | ||
brainstommer | 0 | 2,439,283,239 | 25% | ||
lordtimoty | 0 | 4,347,077,842 | 1% | ||
saboin.pob | 0 | 24,295,271 | 11.32% | ||
vyb.curation | 0 | 1,197,664,422 | 44.4% | ||
femcy-willcy | 0 | 508,579,073 | 10% | ||
onealfa.vyb | 0 | 512,559,229 | 62.16% | ||
ctp-curator | 0 | 1,532,117,875 | 86% | ||
leo-curator | 0 | 1,218,630,043 | 86% | ||
pob-curator | 0 | 418,626,200 | 17% | ||
pal-curator | 0 | 473,627,481 | 57% | ||
neoxag-curator | 0 | 1,519,711,306 | 57% | ||
jagmeet12 | 0 | 518,246,317 | 10% | ||
haveyaheard | 0 | 1,108,666,872 | 86% | ||
vyb-curator | 0 | 263,252,798 | 17% | ||
meestervyb | 0 | 905,235,991 | 62.16% | ||
coolguy123.leo | 0 | 809,106,997 | 50% | ||
vyb.fund | 0 | 987,935,983 | 44.4% | ||
dragonmk47 | 0 | 4,849,202,518 | 5% | ||
buezor | 0 | 578,478,003 | 57% | ||
garagenoord | 0 | 889,860,320 | 35% |
![Don-1UP-Cheers-Cartel-250px.png](https://files.peakd.com/file/peakd-hive/curation-cartel/23wgDhXHXhDmLCUp4RXCi4QwSwg2eCBXYV3b8uBMLvQ7BDWDG4eFSyWTp58qTjfu5ULQD.png) | <div class="phishy"><u><h4>You have received a __1UP__ from @luizeba!</h4></u></div> The following @oneup-cartel family members will soon upvote your post:<br> __<code>@leo-curator, @ctp-curator, @vyb-curator, @pob-curator, @neoxag-curator, @pal-curator</code>__ <br>_And they will bring !PIZZA 🍕_ -|- <sup>[Learn more](https://peakd.com/hive-102223/@flauwy/the-curation-cartel-1up-trigger-smart-voting-mana-and-high-delegation-returns-for-14-different-tribes) about our delegation service to earn daily rewards. Join the family on [Discord](https://discord.gg/mvtAneE3Ca).</sup>
author | curation-cartel |
---|---|
permlink | re-why-it-s-impossible-to-get-out-of-debt-20220606t121258z |
category | hive-167922 |
json_metadata | "{"app": "beem/0.24.26"}" |
created | 2022-06-06 12:12:57 |
last_update | 2022-06-06 12:12:57 |
depth | 1 |
children | 0 |
last_payout | 2022-06-13 12:12:57 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.000 HBD |
curator_payout_value | 0.000 HBD |
pending_payout_value | 0.000 HBD |
promoted | 0.000 HBD |
body_length | 751 |
author_reputation | 1,123,281,846,602 |
root_title | "Why It's Impossible To Get Out Of Debt" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 113,826,165 |
net_rshares | 0 |
Is this a take from Paul and pay Peter?
author | iskafan |
---|---|
permlink | re-mercurial9-rd2b90 |
category | hive-167922 |
json_metadata | {"tags":["hive-167922"],"app":"peakd/2022.05.9"} |
created | 2022-06-06 15:34:33 |
last_update | 2022-06-06 15:34:33 |
depth | 1 |
children | 0 |
last_payout | 2022-06-13 15:34:33 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.000 HBD |
curator_payout_value | 0.000 HBD |
pending_payout_value | 0.000 HBD |
promoted | 0.000 HBD |
body_length | 40 |
author_reputation | 248,066,098,897,320 |
root_title | "Why It's Impossible To Get Out Of Debt" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 113,831,139 |
net_rshares | 0 |
!1UP
author | luizeba |
---|---|
permlink | re-mercurial9-202266t91056671z |
category | hive-167922 |
json_metadata | {"tags":["money","personalfinance","cryptofinance","leofinance","ctp","palnet","neoxian","proofofbrain"],"app":"ecency/3.0.23-vision","format":"markdown+html"} |
created | 2022-06-06 12:11:00 |
last_update | 2022-06-06 12:11:00 |
depth | 1 |
children | 0 |
last_payout | 2022-06-13 12:11:00 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.000 HBD |
curator_payout_value | 0.000 HBD |
pending_payout_value | 0.000 HBD |
promoted | 0.000 HBD |
body_length | 4 |
author_reputation | 489,387,482,171,639 |
root_title | "Why It's Impossible To Get Out Of Debt" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 113,826,138 |
net_rshares | 0 |
https://twitter.com/minimalistpixel/status/1533742838768406528 <sub> The rewards earned on this comment will go directly to the people(@mercurial9) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.</sub>
author | poshtoken | ||||||
---|---|---|---|---|---|---|---|
permlink | re-mercurial9-why-it-s-impossible-to-get-out-of-debt-2026 | ||||||
category | hive-167922 | ||||||
json_metadata | "{"app":"Poshtoken 0.0.1","payoutToUser":["mercurial9"]}" | ||||||
created | 2022-06-06 09:29:54 | ||||||
last_update | 2022-06-06 09:29:54 | ||||||
depth | 1 | ||||||
children | 0 | ||||||
last_payout | 2022-06-13 09:29:54 | ||||||
cashout_time | 1969-12-31 23:59:59 | ||||||
total_payout_value | 0.000 HBD | ||||||
curator_payout_value | 0.000 HBD | ||||||
pending_payout_value | 0.000 HBD | ||||||
promoted | 0.000 HBD | ||||||
body_length | 263 | ||||||
author_reputation | 3,941,319,841,360,579 | ||||||
root_title | "Why It's Impossible To Get Out Of Debt" | ||||||
beneficiaries |
| ||||||
max_accepted_payout | 1,000,000.000 HBD | ||||||
percent_hbd | 0 | ||||||
post_id | 113,823,007 | ||||||
net_rshares | 0 |
Getting out of debt is seemingly fornthe private individual or some medium-sized businesses. Like you said, debt in itself will continue to rebounce off ...from the individual to the top e.g government or conglomerate such that at times those debt can't be repayed and will even later on be waived or let go. Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@temibot/re-mercurial9-5ypddr)
author | temibot |
---|---|
permlink | re-mercurial9-5ypddr |
category | hive-167922 |
json_metadata | {"app":"leofinance/0.2","format":"markdown","tags":["hive-167922","leofinance"],"canonical_url":"https://leofinance.io/@temibot/re-mercurial9-5ypddr"} |
created | 2022-06-06 11:51:24 |
last_update | 2022-06-06 11:51:24 |
depth | 1 |
children | 0 |
last_payout | 2022-06-13 11:51:24 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.000 HBD |
curator_payout_value | 0.000 HBD |
pending_payout_value | 0.000 HBD |
promoted | 0.000 HBD |
body_length | 404 |
author_reputation | 32,562,243,827,396 |
root_title | "Why It's Impossible To Get Out Of Debt" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 113,825,652 |
net_rshares | 0 |