451
How come we experience so much more inflation than deflation? in other words, why does our buying power decrease far more often than it increases?
(lemmy.dbzer0.com)
this post was submitted on 22 Jul 2023
451 points (96.7% liked)
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Eh, I think you need to rethink this, as this is nonsense. Maybe you forgot some steps?
Why is it nonsence? It makes perfect sense to me ๐คท. Granted I may not remember everything correctly and other things that were explained in Zeitgeist, but I think I remeber this correctly.
Because the 10 USD are not created from thin air but taken from the 1000 USD in circulation and transferred to the bank.
But it is true that the bank's ability to conjure up the 100 USD debt even if they don't actually have all of it contributes to inflation, so I guess your source might have gotten it correct, but you clearly misremember the details.
That may be true... I did watch the documentaries a long time ago.