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Interest Rates and the Nature of Profit | The Twilight of Gold Series | Episode 12 (WiM186)
The "What is Money?" Show
Money Is the Price of a Contract for Interest
In episode t, i said that it is interest being bought with the money, not money being rented with the interest. When you're borrowing from a bank, you are a seller of a contract and the bank is a buyer. And so the price of that contract is set, not necessarily by either party, but the price is set by supply and demand. In the market of contracts for interest, that's where the price comes about. It's not controlled by one party or the other.
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