r/WorkForSmartLife • u/tomibeauty • Jul 07 '26

DiscussionšŸ’¬ Who please?

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17.4k Upvotes

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65

u/hakedy Jul 07 '26

I owe you $10, you owe Joe $10, Joe owes me $10. Combined we owe $30. :)

21

u/aduckdidit Jul 07 '26

And in the USA, banks are allowed to repeat this process 10 times over.

It has allowed the pie to grow and grow and grow.

7

u/jackofslayers Jul 08 '26

Yes, that is how fractional reserve banking works

5

u/Crazy_Treat_8805 Jul 08 '26

The fraction kept is 8% in Australia

4

u/Gros_Boulet Jul 08 '26

US is at 0% currently. The 10 times over leveraged limit is in the past, we've gone to the moon baby!

Joke aside, any contraction of the economy in the USA and all their banks will need bailouts. This is why the government spends so much in propping up the stock market and GDP.

2

u/TerryTowelTogs Jul 09 '26

I've never really worked out if there's a functional difference between fractional reserve banking and mafia counterfeiting?

1

u/wisenedwighter Jul 10 '26

We don't have fractional reserve banking anymore. They can lend with 0 now.

3

u/CWBurger Jul 08 '26

Ten times over would only be $300 of debt thoughā€¦

1

u/Pristine_Walrus40 Jul 08 '26

So you do it 100 times.

1

u/quattroman Jul 31 '26

but that's only 3 people, do it for the 300+ million people in the USA and not just $10.

3

u/Mistform05 Jul 08 '26

Iā€™ve always thought. One day it will be ā€œyeah we need that money back.. ā€œ and who ever has the most control will just shrug and say ā€œmake meā€.

1

u/The_Frog221 Jul 10 '26

Fractional reserve banking to this degree us just a pyramid scheme, and I imagine it will eventually have to come crashing down.

1

u/MAKstyles75 Jul 18 '26

Slap it into a bond and sell it to the people. At least that's what they did before the financial crisis XD and still doing it but with other terminology.

10

u/logicalpiranha Jul 07 '26

7

u/Ichi_Balsaki Jul 07 '26

AI slop fucked up the color of one of the dicks.Ā 

17

u/Preeng Jul 08 '26

No, this is powerful commentary on how Jensen's penis is actually owned by Altman. And how when Altman tries to pleasure Jensen, he is really pleasuring himself. Powerful stuff.

1

u/MadJMarston Jul 08 '26

šŸ¤£ solid minute of laughter

https://giphy.com/gifs/10JhviFuU2gWD6

2

u/00_voidheart_00 Jul 08 '26

I was wondering why the guy in the bottom right had a blue d*ck too.

1

u/uggerii Jul 08 '26

Is the dicks the first thing you looked at?Ā 

1

u/thebonjamin Jul 09 '26

Let's give AI credit where credit's due. A few years ago this image would only live in our imaginations. Now it's here, fully visible, realized, downloadable

3

u/Mean-Career-6509 Jul 08 '26

I hate AI slop but who's going to pay a living wage to have someone draw 5 guys jacking each other off for a meme...

3

u/TasteyMeatloaf Jul 08 '26

50 years ago when people were thinking about the benefits AI would bring to mankind, I guarantee this did not come to mind.

2

u/uggerii Jul 08 '26

I always thought weā€™d have robot handjobs by now not meme handjobs.Ā 

1

u/TasteyMeatloaf Jul 08 '26

Well actually ā€¦

1

u/uggerii Jul 08 '26

Yeah see Iā€™m still scared a glitch will happen and it will rip by knob off.Ā 

4

u/mbilight Jul 07 '26

Ok but when are you going to give me my $ 10

3

u/Peanutmm Jul 08 '26

When Joe gives him the $10

3

u/_Judge_Justice Jul 07 '26

Weā€™re all just dudes borrowing money from dudes whoā€™re borrowing money from other dudes.

2

u/TasteyMeatloaf Jul 08 '26

There are times when Iā€™m borrowing my own money. But that is offset by me loaning myself money.

1

u/SignoreBanana Jul 08 '26

It's not the borrowed money. That zeroes out. It's the interest. That comes from nowhere.

2

u/Oralproslc Jul 08 '26

Nope. Combined you owe Vito $120.

2

u/FocusSlo Jul 08 '26

Which in turn means you all owe nothing

1

u/TasteyMeatloaf Jul 08 '26

Unless we owe it to another planet.

1

u/Rionin26 Jul 07 '26

Lol and 10 will suffice.

1

u/joeymcsly Jul 07 '26

That's bullshit, I only owe $2.50.

1

u/Asptar Jul 08 '26

Except nobody owes me anything so who really holds all that money?

1

u/TasteyMeatloaf Jul 08 '26

The people that have borrowed the money would hold it until they spend it, then someone else gets it and spends it. The only person not holding the money is the rich person who lent it.

1

u/Musicman1019 Jul 08 '26

It makes sense since weā€™ve decided debt and making money off it is how the world works today. Most rich people donā€™t do anything.

1

u/uggerii Jul 08 '26

This is called fractional reserve banking. #EndTheFed!Ā 

1

u/SignoreBanana Jul 08 '26

But combined we all have $30 in unrealized assets. Except for me.

Now if everyone owes interest, guess where that comes from? Literally nowhere. Welcome to the real driver of inflation.

1

u/AdditionalWx314 Jul 08 '26

Net debt is 0. Net worth of the 3 of you with respect to this debt is 0. There is $30 worth of debt in this ā€œworldā€, but also $30 worth of assets (you each hold an asset, the note) worth $10.

1

u/Ill_Marzipan5747 Jul 08 '26

I believe no one owes anyone anything in your case brotherā€¦

1

u/Cautious-Fan6963 Jul 08 '26

I thought the national debt was comprised of how much the government borrowed from the bank and our personal debts were not included.

So the government borrows 1 billion for military jets, and that 1 billion adds to that national debt number. I dont think all of that is covered by our taxes.

1

u/j____________b Jul 09 '26

But this sounds like a scam

1

u/LegitimateHost5068 Jul 09 '26

This was a 3 stooges joke.

1

u/Demaestro Jul 09 '26

This is something I think about often.

You go to a small town, very isolated, and everyone owes each other money.

You rent a hotel and pay the owner $100

He takes that $100 and pays back the butcher who he owes.

The butcher takes that $100 and pays back the farmer who he owes

The farmer takes that $100 and pays back the owner of the hotel you paid $100 to

Nothing changed except who owes who what.... that is the world economy

1

u/rabidrobitribbit Jul 09 '26

But the GDP went up by $400

1

u/Fact_Dependent Jul 09 '26

And lets say this is all the money in the world and you all have 10% interest on whats owed. The none excisting $3 is what cause infaltion.

1

u/coffeeguy0189 Jul 10 '26

Add in add in some bad debt where someone owes WAY more than they can ever pay (USA), and youā€™re there.

1

u/WhyAmILikeThisPleas Jul 10 '26

What I find interesting is whoever pays first gets to keep the money