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0 sats \ 1 reply \ @AG 18 May \ parent \ on: B2B Businesses in Bitcoin AGORA
Too easy to blame someone else. I'm not sure government and central banks are not aliens or evil, they are managed by us, humans. I still behave that if there was no debt, or credit, people would have no need for a third party to manage disputes, making them useless and obsolete.
If there's something useful I learn in life is to be debt free. There are also plenty of quotes that gently suggest having the same approach. .
Rather go to bed without dinner than to rise in debt. —Benjamin Franklin
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A man in debt is so far a slave. —Ralph Waldo Emerson
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"Debt is like any other trap, easy enough to get into, but hard enough to get out of." —Henry Wheeler Shaw
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"Many delight more in giving of presents than in paying their debts." —Sir Philip Sydney
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"Don't let your mouth write no check that your tail can't cash." —Bo Diddley
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"Good times are when people make debts to pay in bad times." —Robert Quinlin
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"Some debts are fun when you are acquiring them, but none are fun when you set about retiring them." —Ogden Nash
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Home life ceases to be free and beautiful as soon as it is founded on borrowing and debt. —Henrik Ibsen
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"Debts are like children - begot with pleasure, but brought forth with pain." —Moliere
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"This would be a much better world if more married couples were as deeply in love as they are in debt." —Earl Wilson
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What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience? —Adam Smith
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Find me quote that promote debt or credit.
Business that operate in a bitcoin standard does not operate with debt, or at least that's my wish. Debt is part of the fiat mindset, created to control and enslave those that had not spent time in learning and crafting, those that need to be told what to do.
You can also see it from a spiritual perspective... you'd really want to accumulate negative karma?
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0 sats \ 0 replies \ @telcobert OP 24 May
The citations - including Adam Smith - are correct, but they do refer to private, consumption credit. This is the well-founded usury problem.
It is a very different thing with trade and industry. Business needs credit for working capital. Refer to Book 2, Chapter IV, to understand the necessity of commercial credit:
“The borrower may use it [money lent at interest] either as a capital, or as a stock reserved for immediate consumption. If he uses it as a capital, he employs it in the maintenance of productive labourers, who reproduce the value, with a profit. He can, in this case, both restore the capital, and pay the interest, without alienating or encroaching upon any other source of revenue. If he uses it as a stock reserved for immediate consumption, he acts the part of a prodigal, and dissipates, in the maintenance of the idle, what was destined for the support of the industrious.”
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