Message from @justkaus
Discord ID: 774546044129247272
I know it's the central bank which prints out
also depts is created that way
*debts?
the other side of money is debts
No you mis wrote it, so I asked
So what exactly is credit?
credit is giving out an paper which says can be exchanged at the bank against banknotes. (bank accounts are also like papers which can be exchanged against banknotes)
while at this process you get an claim for banknotes
But isint money also the same thing, but you can claim to exchange it for goods
the same thing as?
Credit
well there are different kind of money
Like they are both guarantees of sorts right....
banknotes =/= fiat money
Uhhh, what is general currency called?
Which we use daily
Trump stole votes from Kanye and split it
Kanye shoudve won
@justkaus its euro but wellthere are euro bank notes and also euro fiat money.
i would have german videos about it but well that does not help
Who gives credit?
Govt?
for giving credit (fiat money) you need a bank, banks give credit
you have goverment which makes rules for gioving credits
> for giving credit (fiat money) you need a bank, banks give credit
@hororizon44575 and money comes from credit. So it's right to claim money comes from banks?
and you have ecb which says you need an minimum of guarantys to give out an amount of credits
yes money comes from credit
thats why all this saying bank lends money is bullshit
I meant banks
No no, read it again
I did a typo
oh well yes it has to be banks (central banks are also banks which gives an other kind of credit to the bank) #interbankenhandel (in german)
Yeah, so it is banks
So if banks are the source of money. Why it's wrong to say they lend money?
According to you, what's the purpose of banks?
becouse lending means you have saved samething which you can than land out
banks do not have saved samething they creat samething thats an completly other thing
banks creat money and destroy money when credits are liquidated
Ah, ok
while how much they can create and in which rules is different from countrys