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Biden MUST Stop Lying - or Forget about Increasing the Debt Ceiling

ralfy said:
Money isn't created when you produce things but when loans are made. The money from loans are then used to pay for what's produced.
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No, things you produce are used to pay for whats produced. "Money" is a representation of those things.
 
jonny5 said:
No, things you produce are used to pay for whats produced. "Money" is a representation of those things.
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No "jonny", most "new" money enters into the economy just as described, via loans by banks.

Most items produced are purchased from existing money, ie when you buy your comic book you get the money from Mom who withdrew it from her checking account.
 
jonny5 said:
No, things you produce are used to pay for whats produced. "Money" is a representation of those things.
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That's barter.
 
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