Saturday, October 22, 2022

Four terms and an observation

The nonfinancial sector supplies us with goods and services.
The financial sector supplies us with money.
Debt is money on which we pay interest.
To the creditor, debt is interest-bearing money.

As more and more of our money becomes interest-bearing, those whose income arises from nonfinancial sources are more and more impoverished by financial cost.

1 comment:

The Arthurian said...

Note: There is no mention in the above remarks about the RATE of interest.