Post
Topic
Board Economics
Re: I just created 100 pennies.. and loaned them out, you owe me 101 pennies…..
by
NotLambchop
on 21/02/2015, 15:32:14 UTC
I just created 100 pennies and I loaned them out to you + interest… How is it possible for you to pay me the 101 pennies you now legally owe me if only 100 pennies are in circulation?

Nice argument against non-inflationary currencies, which Bitcoin is hoping to become.
Let's try your problem, starting with this "sound money":
You have all of the gold in the world, and lend it to me @ .1% yearly interest.
"How is it possible for you me to pay me you etc., etc.?"