/biz/ - Business & Finance

So, let me get this straight.
Almost all money in circulation was created as debt attached to a-loan/credit. Banks create this "money" out of nothing (i.e. they're not loaning pre-existing money). Though there were some requirements of "actual" money to imaginary money ratios -- fractional reserve requirements -- but even those have been removed by the Federal Reserve in 2020 (a private institution owned by private banks that is neither federal nor has any reserves). This money, principal, must then be paid back, but because almost all money also has debt attached (created in the same way), those too must be paid off, so there is not enough money in existence to pay off the principal+interest since the money supply includes only principal (unless 100% of the repayments were recycled into the economy allowing those in debt to earn it), so more money needs to be created in the same way to pay off previous debts, which just increases the debt total, and so on and so on.
This money is then used to speculate on shit like gold and stocks, which exist in an imaginary world and don't provide any actual real value, which is what, ostensibly, money represents? How are both practices not the definition of parasitism?