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the debt (lemmy.world)
submitted 7 months ago by Varven@lemmy.world to c/memes@lemmy.ml
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[-] shneancy@lemmy.world 13 points 7 months ago

if it makes you feel any better you'd go to prison if you decided to run a ponzi scheme... unless you're a bank, that is

[-] Varven@lemmy.world 9 points 7 months ago

Wait a bank is a Ponzi scheme

[-] confusedbytheBasics@lemmy.world 12 points 7 months ago

Not literally. I bet the poster notices the overlap between ponzi and fractional reserve lending and doesn't care about the differences

[-] blazera@lemmy.world 5 points 7 months ago

Which is?

[-] confusedbytheBasics@lemmy.world 12 points 7 months ago

Lota of differences but the key is: A ponzi scheme pays returns out of future investment. Fractional reserve lending pays returns from interest collected on investments.

[-] SexualPolytope@lemmy.sdf.org 6 points 7 months ago

Bank is legal because... reasons...

this post was submitted on 07 Jun 2024
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