Quote:
Originally Posted by Platapus
Credit is a tool that can be used wisely or unwisely. In itself, there is nothing good nor bad about credit. It is all in how you use it.
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That is only true if you differ between credit that is basing on consuming that did not take place, so it is the savings by somebody else that you lease, and credit that just creates the money you lease from empoty air, and thus increases (=inflates) the money tzhere is, but must not create material securities for the sum of money created.
The first is like you said. The altter is the inevitable destruction of every economic market order and money system yiou can imagine. But in a world where the vast majoirty of people think money is harvbested from epoty vacuum in space and then rains down from the sky, most people just cannot understand this.
I recommend, as one possible book amongst several others, by
Alfred Hayek: The Pure Theory of Capital, which is available as a free, legal and complete pdf download from this link. No, I have not read the whole book.
But most of it.
LINK download