banks had more bets than they had money

and the amount of bets overall were more than anyone had

Ohhh okay

so imagine we have a world with $100 in cash capital in circulation

and we have the current level of population

to simplify

now imagine we have as many banks as we do, organising as many loans and mortgages

to start with, banks use franctional reserve to invent new money as debt based on their reserves

that means the amount "spent" is more than we actually have attributable to people

which means, if anything fucks up and stops the moving of money, the whole house of cards fall

*obviously you invest more money in the hope of profit

if that hope doesnt come true well...

lets not talk about that rn, because it goes onto the topic of business rather than pure money movements

so, here we already have 150% or more of capital moving than we actually have as a world

so before we go deeper, if we stop, there's going to be someone left without money, because some of the money will not be there

because remember, 100% is what we ACTUALLY have

https://youtu.be/pK6VLFdWJ4I

if you then go further, and look into a thing called mortgage backed security which allowed banks to package up massive amounts of mortgages as a assert and investment tool

which just had shit thrown in them

just awful securities

then third parties started betting on outcomes of the security

would it fail (short) or would it go fine (long)

and then you have third level, fourth level, etc etc etc

deeper and deeper

soon you end up with hundreds of % points more being bet than is actually in the system

See this is why I stay away from finance 😂

People were playing with money which didn't exist.

Is the essence of it.

(yet) it didnt exist 'yet' <:pepelaugh:544857300179877898>

basically, imagine the power of exponentials, and musical chairs

someone stopped the music

Sorry, I forgot that magical word 😉

and people were left without seats

then because of that no one would get back up

"It'll be fine in 10 years, the money will exist then!"

and play further

well

So money is fake and the government is a lie! 😂

everything is a lie

the lefties are correct in that everything is an abstraction

they're just incorrect that, then nothing means anything