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That’s just not true. Loans absolutely existed before fiat currency did, just look in the Bible for examples of people in debt thousands of years ago. There’s a reason Muslims and Jews don’t allow certain types of lending, they had issues with it historically.
Access to easy money will always exist provided there’s a profit motive, and there has been for millennia. How that money is backed is completely irrelevant.
That’s just not true. Loans absolutely existed before fiat currency did, just look in the Bible for examples of people in debt thousands of years ago. There’s a reason Muslims and Jews don’t allow certain types of lending, they had issues with it historically.
Access to easy money will always exist provided there’s a profit motive, and there has been for millennia. How that money is backed is completely irrelevant.