How can the US national debt be over $23 trillion if that much money doesn’t even exist in the world?
In: Economics
I believe there is more than $30 trillion dollars in circulation in the whole world right now.
In the US, there isn’t $23 trillion. However, there is something called debt.
Imagine, we are 3, me, you, and john. John give me $5. I owe him $5. I give you $5, you owe me $5 and I owe john $5. There is now $10 dollars debt overall.
Economy is hard to explain. I encourage you to read more about how banking and lending work.
Fuck capitalism.
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