this post was submitted on 07 Jun 2024
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the debt (lemmy.world)
submitted 5 months ago by Varven@lemmy.world to c/memes@lemmy.ml
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[–] Varven@lemmy.world 7 points 5 months ago (1 children)

Wait a bank is a Ponzi scheme

[–] confusedbytheBasics@lemmy.world 11 points 5 months ago (1 children)

Not literally. I bet the poster notices the overlap between ponzi and fractional reserve lending and doesn't care about the differences

[–] blazera@lemmy.world 1 points 5 months ago (2 children)

Which is?

[–] confusedbytheBasics@lemmy.world 13 points 5 months ago

Lota of differences but the key is: A ponzi scheme pays returns out of future investment. Fractional reserve lending pays returns from interest collected on investments.

[–] SexualPolytope@lemmy.sdf.org -5 points 5 months ago

Bank is legal because... reasons...