Banks, Bitcoin, and UBI: Three Competing Money Systems People often think the way money works is fixed. It isn’t. Over the last century we’ve seen multiple systems rise and fall, each with its own strengths and weaknesses. Right now, three very different models are competing for the future: --- 1. Banks: Money from the Top Down How it works: Banks create money by issuing loans. When a bank approves a mortgage or business loan, it’s essentially typing new deposits into existence, constra...
