"Posterity, you will never know how much it cost the present generation to preserve your freedom. I hope you will make good use of it. If you do not, I shall repent in heaven that ever I took half the pains to preserve it." -John Adams

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Instead, we will look to the Intellectuals and Champions of Liberty, and draw on their wisdom of what it is to be a truly free people. We will learn from where our Providential Liberties are derived, and put the proper perspective of a Free Individual and the State.
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Saturday, November 19, 2011

Michael Maloney explains how our money works

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!

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