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the debt (lemmy.world)

submitted 5 months ago by [email protected] to c/[email protected]

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[–] [email protected] 7 points 5 months ago (1 children)

Wait a bank is a Ponzi scheme

[–] [email protected] 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

[–] [email protected] 1 points 5 months ago (2 children)

Which is?

[–] [email protected] 14 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.