It's not future labor. Money functions roughly as a store/proxy for (valuable) time already spent. The whole fractional reserve thing dilutes the value as it grows the pool therefore reducing value per unit.
The future only comes into play when speculating on future outcomes. And I guess bullshit accounting like Enron's, although these correct themselves through (re)valuation.
anonymous
npub1wp…hku55
2024-07-02 13:01:07
in reply to nevent1q…uruu
Author Public Key
npub1wpu33h35ufrnxdhwmy82s3l3nk682xm3whvfxepxsjn24t6dnn8q0hku55Published at
2024-07-02 13:01:07Event JSON
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