21 sats \ 6 replies \ @Lux 20 Jul \ parent \ on: Stacker Saloon
Maybe debt is older than money, but by law, debt is not money, money is not debt. A deferred payment is not payment, a promise to perform is not performance.
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33 sats \ 5 replies \ @supratic 20 Jul
show me the law that define debt or money.
You may say ... money, but by legislators, debt is...
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0 sats \ 4 replies \ @Lux 20 Jul
but by legislators, debt is...
they offered us contracts, we accepted
#511157
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0 sats \ 3 replies \ @supratic 20 Jul
... but, isn't money just a piece of paper referring to a tacit contract agreement saying I OWE YOU some credit?
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0 sats \ 2 replies \ @Lux 20 Jul
isn't debt an agreement I OWE YOU some MONEY?
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33 sats \ 1 reply \ @supratic 20 Jul
I was not referring to legal tender but money in general. When you pay someone with a "legal tender", are you giving them credit or debt?
And if you pay someone with gold, are you giving them credit or debt?
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37 sats \ 0 replies \ @Lux 20 Jul
if you pay someone with gold, are you giving them credit or debt?
neither, you give them money.
with legal tender is accounting magic/fraud, money for nothing, as Dire Straits say. credits and debits
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