Modern debt slavery:
Success consists of being able to secure evergrowing quantities of debt as you pass through the stages of life: a big college loan that allows you to get into the best paying job, whose salary will allow you a larger loan for a large house and another loan for a car. With more hard work at the company and dedication to its cause, you may succeed in getting and even larger negative balance of fiat for a bigger home and fancier car. Should you succeed even more and start your own business, you do not do it with your own accumulated capital, but rather with a bigger loan. The larger and the more successful the business, the more you are able to borrow. In sum, success in fiat means accumulating larger negative cash balances, and people live their entire lives stacking debt obligations upon themselves.
The Fiat Standard - Saifedean Ammous
Henkipatto
npub1ey…v9rxj
2023-03-01 12:37:29
Author Public Key
npub1eyfm3c7ns3qmsrzf0v7c6a6hz6rtp3846t8l83fz4dmjppcyxvkqvv9rxjPublished at
2023-03-01 12:37:29Event JSON
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"content": "Modern debt slavery:\n\nSuccess consists of being able to secure evergrowing quantities of debt as you pass through the stages of life: a big college loan that allows you to get into the best paying job, whose salary will allow you a larger loan for a large house and another loan for a car. With more hard work at the company and dedication to its cause, you may succeed in getting and even larger negative balance of fiat for a bigger home and fancier car. Should you succeed even more and start your own business, you do not do it with your own accumulated capital, but rather with a bigger loan. The larger and the more successful the business, the more you are able to borrow. In sum, success in fiat means accumulating larger negative cash balances, and people live their entire lives stacking debt obligations upon themselves.\n\nThe Fiat Standard - Saifedean Ammous",
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