The concept of “money as debt” refers to the fact that most money in circulation today is created through the process of banks issuing loans. When a bank issues a loan, it creates new money by simply typing the amount of the loan into the borrower’s account. This new money is essentially a debt owed by the borrower to the bank, and it is backed by the borrower’s promise to repay the loan with interest.
This system of creating money as debt can be seen as a form of control, as it gives banks significant power over the economy. Banks are able to create new money whenever they issue loans, which means they have the ability to control the supply of money in the economy. They can also control the terms and conditions of loans, such as interest rates and repayment periods, which can have a significant impact on borrowers’ ability to repay their debts and their overall financial well-being.
In addition, the accumulation of debt can also be seen as a form of control. When individuals or organizations become heavily indebted, they may be forced to make certain decisions or take certain actions in order to meet their debt obligations. This can limit their ability to invest in their own future, pursue new opportunities, or even exercise their own autonomy.
Overall, the relationship between money, debt, and control is complex and multifaceted. While debt can provide access to resources and opportunities, it can also create dependency and limit freedom. It is important to be aware of these dynamics and to make informed decisions about how to manage one’s own finances and navigate the broader economic landscape.
