6-3b2.3a Credit is not money

6-3a2 How you have something can (and will) matter more than what (you think) you have (e.g., DEX vs CEX - DEX will counter Maximalists movement)
6-3z A world without ownership is a world with less creativity and human flourishing

• Most of what people call money is credit
  • US: 50T credit and 3T money
• Printing money doesn’t necessarily mean inflation if it offsets the fall in credit
  • What matters is the spendingdevelop
    • 6-3b2.3b Your spending is someone else’s income. Spending matters.

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• Specifically, fully-reserved vs fractional-reserved currency
  • 2-1b2b6 Don’t borrow against your securities
  • 2-1b2b3 Don’t invest what you can’t afford to lose