There are nuances there:
Commercial banks earn from money creation (lending)
Governments must sell bonds to other actors (money swap) or central banks (money printing) and pay interest on those bonds.
High interest rates means they must pay even more and finance that interest with even more bond sales leading to debt spiral.
Yup it's a more complex situation I agree completely. But I'm just tryna orange pill here, I don't wanna get overly complex with em ya know?
Yeah, totally agree. It’s is such a mess anyway. I gave up trying to explain macro and just stick to “Number go up”, “Freedom money” or sth like that 😅
I tailor the angle I take to my audience.
If I know someone is libertarian minded I'll go for the freedom money angle too for example.
My extended family, the audience of this group, is largely left leaning so I'm hitting the "banks bad, Bitcoin fixes this" angle with them.
