Simple. How would explain compounded interest to him?
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when the rent on money is money, you get rent on that money too
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Man the way this still needs to be explained to grown adults.
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And negative interest rates? I still don't get that one tbh.
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Exactly. Can I get rich merely by borrowing lots of money at negative interest rates?
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Bitcoin is insurance on money
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I explain it as the price for money. Like price its based on supply and demand. Increase interest reduce supply.
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“... just sign this convertible note and you’ll get your weekly allowance”
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Bastiat has an eloquent essay about this analogy. http://bastiat.org/en/capital_and_interest.html …
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