Dana El-Kurd
👤 SpeakerAppearances Over Time
Podcast Appearances
It's like most of their money is like in like a stock or some shit or like it's weird fake money.
Like theoretically, they could access this amount of money, but they don't have it.
Now, OK, but there is a question.
So why would you keep your money in fake money instead of real money?
And the answer is that it gives you more money back.
Because say you're an asshole, right?
And you're charging interest on your co-worker for that burger loan.
So the $10 that I don't have is theoretically worth $12.
Yeah, it's worth more than the money that you do have.
I can get cheese on the burger.
And this is like the fundamental thing of the banking system.
Like one of them is that illiquid assets or like assets that aren't money are worth more than money.
Wait, sorry, when you say a CD, do you mean like a physical, like a disc, like a CD?