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It is not well-appreciated that the whole dollar system is destined for implosion because of the way dollars are created. The dollar is a debt instrument, ther
by KWxIUElW8Xt0tD9 3y ago
It is not well-appreciated that the whole dollar system is destined for implosion because of the way dollars are created. The dollar is a debt instrument, there is always more owed than there are dollars in existence. It's an exponential and that only goes on so long.
I suggest episodes 1 (difference between currency and money) and 4 (how dollars are created) from the following series by Mike Maloney.
https://www.youtube.com/playlist?list=PLE88E9ICdipidHkTehs1VbFzgwrq1jkUJ https://www.youtube.com/playlist?list=PLE88E9ICdipidHkTehs1V...
- JumpCrisscross 3y ago> dollar is a debt instrument, there is always more owed than there are dollars in existence This is wrong. Debt is regularly asymmetrically destroyed, we call it restructuring. And when a debt is destroyed we don’t destroy the correspondingly-created money. (Money is destroyed via separate mechanisms.) That said, I suppose it’s neat seeing the gold bugs coming back on the crypto promoters [1]. [1] https://goldsilver.com/about-mike-maloney/ https://goldsilver.com/about-mike-maloney/
- netcruiser 3y agoThe non-existent money to pay the interest is cancelled out by bankruptcies.
- KWxIUElW8Xt0tD9 3y agobingo -- the whole system is bankrupt -- they have been papering it over with more and more printing since 2008 but check out curves of M2, national debt, etc. -- isn't going to work, something is going to break
- Dylan16807 3y agoLoans can multiply any kind of money, even if you're basing everything on gold coins. It's not exponential.