Tonight I had a discussion with a friend about how debt based money is borrowed into existence in a way that is mathematically impossible to re-pay ... and then how the fractional reserve money multiplier exacerbates this impossibility which speeds the demise of this mathematically unsustainable system.
At the Casey Summit "When Money Dies" Michael Maloney gave the keynote presentation and explained this system better than I've ever seen it done using some cool PowerPoint graphics. He has used this before in other presentations and I've included a YouTube video of it below.
The most important takeaway from this is that there is no way to "save" the current system. It is impossible. It was impossible from day one. At best the day of reckoning can be pushed back (and consequently made that much worse).
I do not necessarily agree with his use of technical chart analysis or his characterization of wealth cycles, but his understanding and explanation of the current money system is second to none. Enjoy!
No comments:
Post a Comment