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Cake day: July 1st, 2023

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  • The word you’re looking for is etcetera. And unless you plan to return to community banks where you have to get to know the local banker to get a mortgage, you need this system.

    I’m not sure how tying this to capitalism makes sense…lending is a risk, they are betting that you’ll remain employed and will continue to pay them - there is a chance you won’t and you pay a premium to get money now. Communist countries also have this system, but it is more centrally controlled by the State.