Thomas Richardson Posted 5 days ago Yuval Noah Harari: What explains the rise of humans? Is there a potential to create even more layers of fiction? for example, the way that banks and online trading works is basically by trading money between them that doesn't exist. for example: a bank has £1,000,000. the bank keeps this money and creates £100 million 'digital money' and lends this out to consumers who then sign it over to home owners who then spend it on cars or more property or use it to buy their shopping from a supermarket and it goes on and on without real money ever being needed (nobody buys a £1million house cash in hand). at every stage people are withdrawing this money, but that comes out of the £1 million of real money the bank has, and though thats much smaller thats ok because nobody ever takes out all their money in a single go (in fact banks dont allow you to do this!). So we are basically pushing around money that has been created from thin air that stands in for paper of no value that stands in for tradeable goods that DO have value. I guess this a fiction of a fiction? haha!