Re: Spotting fake hundos
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When a bank loans money, that money is paid back to them. So no money is being created out of thin air. Not that the Fed doesn't pump extra cash into the system to get through the tough times. It does.
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No the bank expects the money to be paid back to them. The economy is sustained by faith. That is why we have nothing to fear, but fear itself. And money is being created due to the interest that is payed back, plus the loan.
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And if you don't pay it back, the bank seizes your house or whatever assets you have to retrieve the money.
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And what if you burn your house down and seed the land with toxic chemicals? Value = 0.
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