Varven@lemmy.world to Memes@lemmy.ml · 2 years agothe debtlemmy.worldimagemessage-square122fedilinkarrow-up1967arrow-down183
arrow-up1884arrow-down1imagethe debtlemmy.worldVarven@lemmy.world to Memes@lemmy.ml · 2 years agomessage-square122fedilink
minus-squareVarven@lemmy.worldOPlinkfedilinkarrow-up10arrow-down3·2 years agoWait a bank is a Ponzi scheme
minus-squareconfusedbytheBasics@lemmy.worldlinkfedilinkEnglisharrow-up11arrow-down1·2 years agoNot literally. I bet the poster notices the overlap between ponzi and fractional reserve lending and doesn’t care about the differences
minus-squareconfusedbytheBasics@lemmy.worldlinkfedilinkEnglisharrow-up13·2 years agoLota 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.
minus-squareѕєχυαℓ ρσℓутσρє@lemmy.sdf.orglinkfedilinkarrow-up5arrow-down12·2 years agoBank is legal because… reasons…
Wait a bank is a Ponzi scheme
Not literally. I bet the poster notices the overlap between ponzi and fractional reserve lending and doesn’t care about the differences
Which is?
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.
Bank is legal because… reasons…