Debt is slavery. Fiat encourages debt. Therefore, fiat encourages slavery.

When someone is in debt, they have promised to pay their creditor back with interest. Basic morality dictates that you pay it back according to the terms of the agreement. However, various decisions could hurt people’s ability to continue paying their creditor back. This could, for example, keep someone in a job that they otherwise wouldn’t stay in because “it pays well” (a.k.a. it pays enough to pay for their giant monthly debt payment).

@brasshopper@twtxt.net I don’t think “credit” (debt) and “creditors” have anything to do with a how currency changes hands or how it is represented. The only thing I will agree on here is that debt/credit is a “crooked scheme” designed to make money from money.

It is a big massive problem in many modern societies and countries. Look at Australia’s national debt for example, its insane 😅

I personally don’t believe in having any debt. But this is not realistic for all. I definately don’t believe in “living above your means” either (same thing).

Debt/Credit is as bad (more or equally so) than Gambling.

But… Nothing to do with aparticular type of currency.

Debt is central to modern central banking and money 1 2. I think even your economist neighbor would probably agree.

@brasshopper@twtxt.net I will ask him 😅

I think the concept of “borrowing” has always been around, even in the ye ‘old times in the good ‘ol bartering days. What has changed however is the concept of “charging” for the “privilege of borrowing”. There are some countries that actually make this illegal.