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Jul. 9th, 2015|02:34 pm |
True of course. One element that is important to bear in mind though is that the lending class can produce inflationary pressures precisely in those areas which they benefit from (housing for example); thereby ensuring a stable, high revenue stream for themselves. Higher inflation can also inflate debt away - sometimes a necessary tactic when the burden of debt is too great to bear.
To briefly summarize my position: if the lending class were not able to create money as debt ex-nihilo, I would probably not be so bothered by this whole affair, and would rather see it as the endless tussle between creditors and borrowers. |
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