I’m happy to hear criticism and to learn from that, but I wrote this myself. Took quite a while.

Re: why, I don’t think most people understand the very basics of the global economy in mechanical terms, and this was my attempt to explain those mechanics. I wanted the various pieces of the system to be motivated by understandable problems, hence the fable-like story.

I now see some folks were triggered by this stylized approach. Which is a pity. I think the simple setup is worth the payoff. My explanation of money creation, for example, matches the Bank of England’s whitepaper, and I am especially pleased with how the idea of a reserve currency both develops naturally and rhymes with earlier ideas lower in the hierarchy.

It is also totally wrong. I got to the third block and quit, as this is just an LLM bullshit version of the 18th century bullshit fantasy of the origin of money (see David Graeber's Debt).

You can't describe how various forms of monetary value work in the modern monetary system as if it were a rural village with physical items, because it is fundamentally different.

I just copy-paste the text and ask AI to summarize for 90% of articles I see on HN. One of the most time-saving uses of AI.