Anonymous asked in Business & FinanceCredit · 1 month ago

How is this even possible? Are people essentially working for free?

The total amount of Credit in the US is about $50 Trillion. The total amount of actual money is only about $3 trillion. 

4 Answers

  • 1 month ago
    Favorite Answer

    Not all available credit is used and not all credit in the US is used by US citizens.

    Get a 4 year degree in accounting, get your CPA and then get a masters in Finance and money theory and you will understand how it works.

    Until then, sit back, watch TV and have some Pizza.

  • 1 month ago

    That isn't working for free, no.  

  • Anonymous
    1 month ago

    Do you work for free?  Do you know what credit is?

  • Anonymous
    1 month ago

    No people aren't working for free.

    You are confusing cash money with other assets.

    Someone can own a house worth 500k and stocks worth 1.5 million but that doesn't mean they have 2 mil in cash money.   They don't.   And they shouldn't.

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